HT-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.
HT-CONSTRUCT
Largest movements
- Cash -€10,274
down €10,274 (-38.4%), from €26,766 to €16,492
mainly Net result for the year (-€26,004) and Investment in fixed assets (net) (-€11,240)
- Receivables within one year -€3,401
down €3,401 (-12.8%), from €26,577 to €23,176
of which Other amounts receivable: -€4,509
- Profit (loss) carried forward -€26,004
down €26,004 (-63.9%), from €40,673 to €14,669
- Trade debts +€20,336
up €20,336 (+321%), from €6,342 to €26,678
- Debts after one year -€5,354
down €5,354 (-15.0%), from €35,736 to €30,382
- Accrued charges and deferred income -€5,000
no longer reported in 2025 (was €5,000)
- Tax, wage and social debts +€1,317
up €1,317 (+46.5%), from €2,835 to €4,151
of which Taxes: +€843
- Gross operating margin -€63,942
down €63,942, from €54,688 to -€9,254
- Taxes -€10,114
down €10,114 (-97.9%), from €10,335 to €220
- Depreciation +€8,096
up €8,096 (+276%), from €2,934 to €11,030
- Staff costs +€3,094
new in 2025: €3,094
- Financial charges +€1,850
up €1,850 (+850%), from €218 to €2,067
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.
Derived cash bridge
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 | €104,709 | €91,243 | -€13,466 | -12.9% |
| Fixed assets | 21/28 | €49,004 | €49,213 | +€209 | +0.4% |
| Tangible fixed assets | 22/27 | €49,004 | €49,213 | +€209 | +0.4% |
| Plant, machinery and equipment | 23 | - | €4,156 | +€4,156 | |
| Furniture and vehicles | 24 | €49,004 | €45,057 | -€3,946 | -8.1% |
| Current assets | 29/58 | €55,706 | €42,030 | -€13,675 | -24.5% |
| Stocks and contracts in progress | 3 | €2,362 | €2,362 | = | 0.0% |
| Stocks | 30/36 | €2,362 | €2,362 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,577 | €23,176 | -€3,401 | -12.8% |
| Trade receivables | 40 | €7,550 | €8,657 | +€1,107 | +14.7% |
| Other amounts receivable | 41 | €19,028 | €14,519 | -€4,509 | -23.7% |
| Cash at bank and in hand | 54/58 | €26,766 | €16,492 | -€10,274 | -38.4% |
| Total equity and liabilities | 10/49 | €104,709 | €91,243 | -€13,466 | -12.9% |
| Equity | 10/15 | €45,673 | €19,669 | -€26,004 | -56.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,673 | €14,669 | -€26,004 | -63.9% |
| Amounts payable | 17/49 | €59,036 | €71,575 | +€12,539 | +21.2% |
| Amounts payable after more than one year | 17 | €35,736 | €30,382 | -€5,354 | -15.0% |
| Financial debts | 170/4 | €35,736 | €30,382 | -€5,354 | -15.0% |
| Amounts payable within one year | 42/48 | €18,300 | €41,193 | +€22,893 | +125% |
| Current portion of amounts payable after more than one year | 42 | €9,124 | €10,364 | +€1,240 | +13.6% |
| Trade debts | 44 | €6,342 | €26,678 | +€20,336 | +321% |
| Suppliers | 440/4 | €6,342 | €26,678 | +€20,336 | +321% |
| Taxes, remuneration and social security | 45 | €2,835 | €4,151 | +€1,317 | +46.5% |
| Taxes | 450/3 | €2,835 | €3,677 | +€843 | +29.7% |
| Remuneration and social security | 454/9 | - | €474 | +€474 | |
| Accrued charges and deferred income | 492/3 | €5,000 | - | -€5,000 | |
| Remuneration, social security and pensions | 62 | - | €3,094 | +€3,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,934 | €11,030 | +€8,096 | +276% |
| Other operating charges | 640/8 | €951 | €901 | -€50 | -5.3% |
| Gross operating margin | 9900 | €54,688 | -€9,254 | -€63,942 | |
| Operating profit (loss) | 9901 | €50,803 | -€24,279 | -€75,082 | |
| Financial income | 75/76B | €422 | €563 | +€140 | +33.2% |
| Recurring financial income | 75 | €422 | €563 | +€140 | +33.2% |
| Financial charges | 65/66B | €218 | €2,067 | +€1,850 | +850% |
| Recurring financial charges | 65 | €218 | €2,067 | +€1,850 | +850% |
| Profit (loss) for the period before taxes | 9903 | €51,008 | -€25,784 | -€76,792 | |
| Income taxes | 67/77 | €10,335 | €220 | -€10,114 | -97.9% |
| Profit (loss) for the period | 9904 | €40,673 | -€26,004 | -€66,678 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,673 | -€26,004 | -€66,678 |
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 25 October 2026 via checked.be.