IConstructions: 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.
IConstructions
Largest movements
- Cash +€247,529
up €247,529 (+110%), from €224,357 to €471,886
mainly Accrued charges and deferred income (+€122,248) and Net result for the year (+€70,432)
- Current investments -€30,183
down €30,183 (-5.4%), from €557,418 to €527,235
- Tangible fixed assets -€24,302
down €24,302 (-10.6%), from €230,315 to €206,013
of which Furniture and vehicles: -€16,580
- Accrued charges and deferred income +€122,248
up €122,248 (+107%), from €114,189 to €236,437
- Reserves +€70,432
up €70,432 (+11.0%), from €643,189 to €713,621
- Other debts -€12,345
down €12,345 (-18.3%), from €67,315 to €54,969
- Financial income +€119,311
up €119,311 (+105%), from €114,072 to €233,383
- Financial charges +€30,885
up €30,885 (+782%), from €3,951 to €34,837
- Gross operating margin -€27,790
down €27,790 (-193%), from -€14,379 to -€42,169
- Taxes +€21,365
up €21,365 (+137%), from €15,591 to €36,957
- Depreciation -€5,307
down €5,307 (-11.1%), from €47,967 to €42,660
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 | €1,012,169 | €1,205,213 | +€193,044 | +19.1% |
| Fixed assets | 21/28 | €230,394 | €206,092 | -€24,302 | -10.5% |
| Tangible fixed assets | 22/27 | €230,315 | €206,013 | -€24,302 | -10.6% |
| Land and buildings | 22 | €124,625 | €117,093 | -€7,532 | -6.0% |
| Plant, machinery and equipment | 23 | €535 | €345 | -€190 | -35.5% |
| Furniture and vehicles | 24 | €105,155 | €88,575 | -€16,580 | -15.8% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €781,775 | €999,121 | +€217,346 | +27.8% |
| Current investments | 50/53 | €557,418 | €527,235 | -€30,183 | -5.4% |
| Cash at bank and in hand | 54/58 | €224,357 | €471,886 | +€247,529 | +110% |
| Total equity and liabilities | 10/49 | €1,012,169 | €1,205,213 | +€193,044 | +19.1% |
| Equity | 10/15 | €813,097 | €883,529 | +€70,432 | +8.7% |
| Contributions | 10/11 | €169,908 | €169,908 | = | 0.0% |
| Reserves | 13 | €643,189 | €713,621 | +€70,432 | +11.0% |
| Distributable reserves | 133 | €643,189 | €713,621 | +€70,432 | +11.0% |
| Amounts payable | 17/49 | €199,073 | €321,684 | +€122,611 | +61.6% |
| Amounts payable within one year | 42/48 | €84,884 | €85,247 | +€363 | +0.4% |
| Trade debts | 44 | €1,414 | €2,821 | +€1,407 | +99.4% |
| Suppliers | 440/4 | €1,414 | €2,821 | +€1,407 | +99.4% |
| Taxes, remuneration and social security | 45 | €16,154 | €27,456 | +€11,302 | +70.0% |
| Taxes | 450/3 | €16,154 | €27,456 | +€11,302 | +70.0% |
| Other amounts payable | 47/48 | €67,315 | €54,969 | -€12,345 | -18.3% |
| Accrued charges and deferred income | 492/3 | €114,189 | €236,437 | +€122,248 | +107% |
| Non-recurring operating income | 76A | €21,083 | - | -€21,083 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,967 | €42,660 | -€5,307 | -11.1% |
| Other operating charges | 640/8 | €3,697 | €6,328 | +€2,632 | +71.2% |
| Gross operating margin | 9900 | -€14,379 | -€42,169 | -€27,790 | -193% |
| Operating profit (loss) | 9901 | -€66,042 | -€91,158 | -€25,115 | -38.0% |
| Financial income | 75/76B | €114,072 | €233,383 | +€119,311 | +105% |
| Recurring financial income | 75 | €114,072 | €233,383 | +€119,311 | +105% |
| Financial charges | 65/66B | €3,951 | €34,837 | +€30,885 | +782% |
| Recurring financial charges | 65 | €3,951 | €34,837 | +€30,885 | +782% |
| Profit (loss) for the period before taxes | 9903 | €44,079 | €107,389 | +€63,310 | +144% |
| Income taxes | 67/77 | €15,591 | €36,957 | +€21,365 | +137% |
| Profit (loss) for the period | 9904 | €28,488 | €70,432 | +€41,945 | +147% |
| Profit (loss) for the period to be appropriated | 9905 | €28,488 | €70,432 | +€41,945 | +147% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.