HIRCONSTRUCT: 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.
HIRCONSTRUCT
Largest movements
- Cash +€44,857
up €44,857 (+100.0%), from €44,856 to €89,713
mainly Net result for the year (+€48,880) and Depreciation (+€28,480)
- Tangible fixed assets -€28,480
down €28,480 (-41.2%), from €69,082 to €40,602
of which Furniture and vehicles: -€28,191
- Receivables within one year +€8,117
up €8,117 (+14.3%), from €56,793 to €64,910
of which Trade receivables: +€11,054
- Profit (loss) carried forward +€48,880
up €48,880 (+63.8%), from €76,615 to €125,495
- Trade debts -€20,405
down €20,405 (-77.6%), from €26,286 to €5,881
- Debts after one year -€9,051
down €9,051 (-38.7%), from €23,378 to €14,327
- Tax, wage and social debts +€7,640
up €7,640 (+146.6%), from €5,212 to €12,852
of which Taxes: +€9,253
- Staff costs -€31,667
down €31,667 (-57.1%), from €55,437 to €23,770
- Gross operating margin +€17,720
up €17,720 (+17.4%), from €101,614 to €119,334
- Taxes +€13,995
up €13,995 (+3874.5%), from €361 to €14,357
- Depreciation -€7,931
down €7,931 (-21.8%), from €36,411 to €28,480
- Financial charges -€1,359
down €1,359 (-48.4%), from €2,811 to €1,451
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 | €173,779 | €198,778 | +€24,999 | +14.4% |
| Fixed assets | 21/28 | €69,082 | €40,602 | -€28,480 | -41.2% |
| Tangible fixed assets | 22/27 | €69,082 | €40,602 | -€28,480 | -41.2% |
| Plant, machinery and equipment | 23 | €783 | €494 | -€289 | -36.9% |
| Furniture and vehicles | 24 | €68,298 | €40,108 | -€28,191 | -41.3% |
| Current assets | 29/58 | €104,697 | €158,176 | +€53,479 | +51.1% |
| Amounts receivable within one year | 40/41 | €56,793 | €64,910 | +€8,117 | +14.3% |
| Trade receivables | 40 | €25,584 | €36,637 | +€11,054 | +43.2% |
| Other amounts receivable | 41 | €31,209 | €28,273 | -€2,936 | -9.4% |
| Cash at bank and in hand | 54/58 | €44,856 | €89,713 | +€44,857 | +100.0% |
| Deferred charges and accrued income | 490/1 | €3,048 | €3,553 | +€505 | +16.6% |
| Total equity and liabilities | 10/49 | €173,779 | €198,778 | +€24,999 | +14.4% |
| Equity | 10/15 | €104,264 | €153,144 | +€48,880 | +46.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,049 | €9,049 | = | 0.0% |
| Distributable reserves | 133 | €9,049 | €9,049 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,615 | €125,495 | +€48,880 | +63.8% |
| Amounts payable | 17/49 | €69,515 | €45,634 | -€23,881 | -34.4% |
| Amounts payable after more than one year | 17 | €23,378 | €14,327 | -€9,051 | -38.7% |
| Financial debts | 170/4 | €23,378 | €14,327 | -€9,051 | -38.7% |
| Amounts payable within one year | 42/48 | €46,137 | €31,307 | -€14,830 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €10,838 | €10,301 | -€537 | -5.0% |
| Trade debts | 44 | €26,286 | €5,881 | -€20,405 | -77.6% |
| Suppliers | 440/4 | €26,286 | €5,881 | -€20,405 | -77.6% |
| Taxes, remuneration and social security | 45 | €5,212 | €12,852 | +€7,640 | +146.6% |
| Taxes | 450/3 | €104 | €9,357 | +€9,253 | +8919.3% |
| Remuneration and social security | 454/9 | €5,109 | €3,496 | -€1,613 | -31.6% |
| Other amounts payable | 47/48 | €3,800 | €2,272 | -€1,528 | -40.2% |
| Remuneration, social security and pensions | 62 | €55,437 | €23,770 | -€31,667 | -57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,411 | €28,480 | -€7,931 | -21.8% |
| Other operating charges | 640/8 | €2,721 | €2,398 | -€324 | -11.9% |
| Gross operating margin | 9900 | €101,614 | €119,334 | +€17,720 | +17.4% |
| Operating profit (loss) | 9901 | €7,045 | €64,686 | +€57,641 | +818.2% |
| Financial income | 75/76B | €0 | €2 | +€2 | +943.8% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +943.8% |
| Financial charges | 65/66B | €2,811 | €1,451 | -€1,359 | -48.4% |
| Recurring financial charges | 65 | €2,811 | €1,451 | -€1,359 | -48.4% |
| Profit (loss) for the period before taxes | 9903 | €4,235 | €63,236 | +€59,002 | +1393.4% |
| Income taxes | 67/77 | €361 | €14,357 | +€13,995 | +3874.5% |
| Profit (loss) for the period | 9904 | €3,873 | €48,880 | +€45,006 | +1162.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,873 | €48,880 | +€45,006 | +1162.0% |
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 4 October 2026 via checked.be.