Engineering Contracting & Construction: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Engineering Contracting & Construction
Largest movements
- Receivables within one year +€147,407
up €147,407 (+64.5%), from €228,395 to €375,802
of which Trade receivables: +€114,498
- Cash -€40,596
down €40,596 (-22.1%), from €183,964 to €143,368
mainly Receivables within one year (-€147,407) and Debts after one year (-€10,502)
- Tangible fixed assets -€11,207
down €11,207 (-15.2%), from €73,826 to €62,620
of which Furniture and vehicles: -€11,207
- Reserves +€66,461
up €66,461 (+27.4%), from €242,124 to €308,585
of which Distributable reserves: +€66,461
- Short-term financial debts +€35,000
new in 2025: €35,000
- Debts after one year -€10,502
down €10,502 (-33.7%), from €31,133 to €20,631
- Taxes +€109,346
up €109,346, from -€30,770 to €78,576
- Gross operating margin +€86,521
up €86,521 (+117.1%), from €73,907 to €160,428
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €486,184 | €581,789 | +€95,605 | +19.7% |
| Fixed assets | 21/28 | €73,826 | €62,620 | -€11,207 | -15.2% |
| Tangible fixed assets | 22/27 | €73,826 | €62,620 | -€11,207 | -15.2% |
| Furniture and vehicles | 24 | €44,826 | €33,620 | -€11,207 | -25.0% |
| Assets under construction and advance payments | 27 | €29,000 | €29,000 | = | 0.0% |
| Current assets | 29/58 | €412,358 | €519,170 | +€106,811 | +25.9% |
| Amounts receivable within one year | 40/41 | €228,395 | €375,802 | +€147,407 | +64.5% |
| Trade receivables | 40 | €118,285 | €232,783 | +€114,498 | +96.8% |
| Other amounts receivable | 41 | €110,109 | €143,019 | +€32,910 | +29.9% |
| Cash at bank and in hand | 54/58 | €183,964 | €143,368 | -€40,596 | -22.1% |
| Total equity and liabilities | 10/49 | €486,184 | €581,789 | +€95,605 | +19.7% |
| Equity | 10/15 | €287,619 | €354,081 | +€66,461 | +23.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €242,124 | €308,585 | +€66,461 | +27.4% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Other | 1319 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €240,269 | €306,730 | +€66,461 | +27.7% |
| Profit (loss) carried forward | 14 | €26,945 | €26,945 | = | 0.0% |
| Amounts payable | 17/49 | €198,565 | €227,709 | +€29,143 | +14.7% |
| Amounts payable after more than one year | 17 | €31,133 | €20,631 | -€10,502 | -33.7% |
| Financial debts | 170/4 | €31,133 | €20,631 | -€10,502 | -33.7% |
| Amounts payable within one year | 42/48 | €167,432 | €207,077 | +€39,645 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €9,960 | €10,231 | +€271 | +2.7% |
| Financial debts | 43 | - | €35,000 | +€35,000 | |
| Credit institutions | 430/8 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €83,683 | €88,903 | +€5,220 | +6.2% |
| Suppliers | 440/4 | €83,683 | €88,903 | +€5,220 | +6.2% |
| Taxes, remuneration and social security | 45 | €26,216 | €25,370 | -€845 | -3.2% |
| Taxes | 450/3 | €26,216 | €25,370 | -€845 | -3.2% |
| Other amounts payable | 47/48 | €47,573 | €47,573 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,207 | €11,207 | = | 0.0% |
| Other operating charges | 640/8 | €1,198 | €2,009 | +€812 | +67.8% |
| Gross operating margin | 9900 | €73,907 | €160,428 | +€86,521 | +117.1% |
| Operating profit (loss) | 9901 | €61,503 | €147,212 | +€85,709 | +139.4% |
| Financial charges | 65/66B | €1,655 | €2,175 | +€519 | +31.4% |
| Recurring financial charges | 65 | €1,655 | €2,175 | +€519 | +31.4% |
| Profit (loss) for the period before taxes | 9903 | €59,847 | €145,037 | +€85,190 | +142.3% |
| Income taxes | 67/77 | -€30,770 | €78,576 | +€109,346 | |
| Profit (loss) for the period | 9904 | €90,618 | €66,461 | -€24,156 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,618 | €66,461 | -€24,156 | -26.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.