First Construct: what changed
Two financial 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.
First Construct
Largest movements
- Receivables within one year -€960
down €960 (-1.1%), from €89,046 to €88,086
- Profit (loss) carried forward -€919
down €919 (-252.2%), from -€364 to -€1,284
- Other operating charges +€425
up €425 (+96.4%), from €441 to €865
- Gross operating margin -€300
down €300 (-100.0%), from €300 to €0
- Taxes -€121
down €121 (-100.0%), from €121 to €0
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 | €89,061 | €88,086 | -€975 | -1.1% |
| Current assets | 29/58 | €89,061 | €88,086 | -€975 | -1.1% |
| Amounts receivable within one year | 40/41 | €89,046 | €88,086 | -€960 | -1.1% |
| Other amounts receivable | 41 | €89,046 | €88,086 | -€960 | -1.1% |
| Cash at bank and in hand | 54/58 | €15 | €0 | -€15 | -100.0% |
| Total equity and liabilities | 10/49 | €89,061 | €88,086 | -€975 | -1.1% |
| Equity | 10/15 | €88,696 | €87,776 | -€919 | -1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €82,860 | €82,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €81,000 | €81,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€364 | -€1,284 | -€919 | -252.2% |
| Amounts payable | 17/49 | €366 | €310 | -€56 | -15.2% |
| Amounts payable within one year | 42/48 | €366 | €310 | -€56 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | - | €7 | +€7 | |
| Trade debts | 44 | €303 | €303 | = | 0.0% |
| Suppliers | 440/4 | €303 | €303 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €63 | €0 | -€63 | -100.0% |
| Taxes | 450/3 | €63 | €0 | -€63 | -100.0% |
| Other operating charges | 640/8 | €441 | €865 | +€425 | +96.4% |
| Gross operating margin | 9900 | €300 | €0 | -€300 | -100.0% |
| Operating profit (loss) | 9901 | -€141 | -€865 | -€725 | -515.7% |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€195 | -€919 | -€725 | -372.6% |
| Income taxes | 67/77 | €121 | €0 | -€121 | -100.0% |
| Profit (loss) for the period | 9904 | -€315 | -€919 | -€604 | -191.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€315 | -€919 | -€604 | -191.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.