INDUSTRIAL CONSTRUCTIONS & SOLUTIONS: 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.
INDUSTRIAL CONSTRUCTIONS & SOLUTIONS
Largest movements
- Receivables within one year +€277,610
up €277,610 (+73.9%), from €375,725 to €653,335
of which Trade receivables: +€282,163
- Cash -€158,880
down €158,880 (-31.2%), from €509,828 to €350,947
mainly Receivables within one year (-€277,610) and Advances received (-€95,333)
- Stocks and contracts +€28,758
up €28,758 (+106%), from €27,059 to €55,816
of which Contracts in progress: +€23,758
- Tangible fixed assets -€13,058
down €13,058 (-10.3%), from €127,228 to €114,170
of which Other tangible fixed assets: -€19,860
- Trade debts +€128,049
up €128,049 (+44.4%), from €288,232 to €416,281
- Reserves +€118,959
up €118,959 (+29.9%), from €398,090 to €517,049
of which Distributable reserves: +€118,959
- Advances received -€95,333
down €95,333 (-44.9%), from €212,132 to €116,799
- Short-term financial debts -€35,944
down €35,944 (-94.4%), from €38,059 to €2,115
of which Other loans: -€37,500
- Tax, wage and social debts +€21,839
up €21,839 (+79.6%), from €27,433 to €49,272
of which Taxes: +€21,148
- Gross operating margin +€123,325
up €123,325 (+38.7%), from €318,903 to €442,228
- Staff costs +€38,436
up €38,436 (+18.4%), from €209,400 to €247,836
- Taxes +€37,795
up €37,795 (+622%), from €6,073 to €43,868
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 | €1,048,552 | €1,184,055 | +€135,504 | +12.9% |
| Fixed assets | 21/28 | €128,753 | €114,862 | -€13,891 | -10.8% |
| Intangible fixed assets | 21 | €1,525 | €692 | -€833 | -54.6% |
| Tangible fixed assets | 22/27 | €127,228 | €114,170 | -€13,058 | -10.3% |
| Plant, machinery and equipment | 23 | €1,375 | €182 | -€1,193 | -86.7% |
| Furniture and vehicles | 24 | €10,176 | €18,171 | +€7,995 | +78.6% |
| Other tangible fixed assets | 26 | €115,677 | €95,817 | -€19,860 | -17.2% |
| Current assets | 29/58 | €919,799 | €1,069,194 | +€149,395 | +16.2% |
| Stocks and contracts in progress | 3 | €27,059 | €55,816 | +€28,758 | +106% |
| Stocks | 30/36 | €15,000 | €20,000 | +€5,000 | +33.3% |
| Contracts in progress | 37 | €12,059 | €35,816 | +€23,758 | +197% |
| Amounts receivable within one year | 40/41 | €375,725 | €653,335 | +€277,610 | +73.9% |
| Trade receivables | 40 | €357,952 | €640,116 | +€282,163 | +78.8% |
| Other amounts receivable | 41 | €17,773 | €13,220 | -€4,553 | -25.6% |
| Cash at bank and in hand | 54/58 | €509,828 | €350,947 | -€158,880 | -31.2% |
| Deferred charges and accrued income | 490/1 | €7,188 | €9,095 | +€1,907 | +26.5% |
| Total equity and liabilities | 10/49 | €1,048,552 | €1,184,055 | +€135,504 | +12.9% |
| Equity | 10/15 | €473,090 | €592,049 | +€118,959 | +25.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €398,090 | €517,049 | +€118,959 | +29.9% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €390,590 | €509,549 | +€118,959 | +30.5% |
| Amounts payable | 17/49 | €575,461 | €592,006 | +€16,545 | +2.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €572,329 | €592,006 | +€19,677 | +3.4% |
| Financial debts | 43 | €38,059 | €2,115 | -€35,944 | -94.4% |
| Credit institutions | 430/8 | €559 | €2,115 | +€1,556 | +278% |
| Other loans | 439 | €37,500 | €0 | -€37,500 | -100% |
| Trade debts | 44 | €288,232 | €416,281 | +€128,049 | +44.4% |
| Suppliers | 440/4 | €288,232 | €416,281 | +€128,049 | +44.4% |
| Advances received on contracts in progress | 46 | €212,132 | €116,799 | -€95,333 | -44.9% |
| Taxes, remuneration and social security | 45 | €27,433 | €49,272 | +€21,839 | +79.6% |
| Taxes | 450/3 | €5,757 | €26,906 | +€21,148 | +367% |
| Remuneration and social security | 454/9 | €21,676 | €22,367 | +€691 | +3.2% |
| Other amounts payable | 47/48 | €6,473 | €7,539 | +€1,066 | +16.5% |
| Accrued charges and deferred income | 492/3 | €3,132 | €0 | -€3,132 | -100% |
| Remuneration, social security and pensions | 62 | €209,400 | €247,836 | +€38,436 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,214 | €28,881 | +€667 | +2.4% |
| Other operating charges | 640/8 | €3,143 | €3,107 | -€36 | -1.2% |
| Gross operating margin | 9900 | €318,903 | €442,228 | +€123,325 | +38.7% |
| Operating profit (loss) | 9901 | €78,146 | €162,404 | +€84,258 | +108% |
| Financial income | 75/76B | €1,533 | €2,584 | +€1,050 | +68.5% |
| Recurring financial income | 75 | €1,533 | €2,584 | +€1,050 | +68.5% |
| Financial charges | 65/66B | €4,976 | €2,161 | -€2,814 | -56.6% |
| Recurring financial charges | 65 | €4,976 | €2,161 | -€2,814 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | €74,704 | €162,826 | +€88,122 | +118% |
| Income taxes | 67/77 | €6,073 | €43,868 | +€37,795 | +622% |
| Profit (loss) for the period | 9904 | €68,631 | €118,959 | +€50,328 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,631 | €118,959 | +€50,328 | +73.3% |
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 20 October 2026 via checked.be.