INTERNATIONAL CONSTRUCTIONS PROJECTS: 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.
INTERNATIONAL CONSTRUCTIONS PROJECTS
Largest movements
- Receivables within one year +€131,617
up €131,617 (+16.4%), from €801,345 to €932,962
of which Trade receivables: +€128,611
- Stocks and contracts +€83,460
up €83,460 (+38.8%), from €215,109 to €298,569
- Cash +€69,184
up €69,184 (+656%), from €10,550 to €79,734
mainly Depreciation (+€164,853) and Trade debts (+€94,360)
- Tangible fixed assets -€62,996
down €62,996 (-8.6%), from €729,981 to €666,985
of which Land and buildings: -€70,958
- Trade debts +€94,360
up €94,360 (+66.9%), from €141,094 to €235,454
- Debts after one year +€85,892
up €85,892 (+43.2%), from €198,859 to €284,751
- Short-term financial debts +€40,525
up €40,525 (+5.3%), from €759,475 to €800,000
- Profit (loss) carried forward +€23,086
up €23,086 (+15.6%), from -€147,742 to -€124,656
- Gross operating margin +€225,004
up €225,004 (+22.2%), from €1.0m to €1.2m
- Staff costs -€134,516
down €134,516 (-12.0%), from €1.1m to €984,223
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 | €1,756,985 | €1,978,250 | +€221,265 | +12.6% |
| Fixed assets | 21/28 | €729,981 | €666,985 | -€62,996 | -8.6% |
| Tangible fixed assets | 22/27 | €729,981 | €666,985 | -€62,996 | -8.6% |
| Land and buildings | 22 | €591,048 | €520,090 | -€70,958 | -12.0% |
| Plant, machinery and equipment | 23 | €5,336 | €1,090 | -€4,246 | -79.6% |
| Furniture and vehicles | 24 | €67,965 | €92,032 | +€24,068 | +35.4% |
| Other tangible fixed assets | 26 | €65,633 | €53,773 | -€11,860 | -18.1% |
| Current assets | 29/58 | €1,027,004 | €1,311,265 | +€284,261 | +27.7% |
| Stocks and contracts in progress | 3 | €215,109 | €298,569 | +€83,460 | +38.8% |
| Stocks | 30/36 | €215,109 | €298,569 | +€83,460 | +38.8% |
| Amounts receivable within one year | 40/41 | €801,345 | €932,962 | +€131,617 | +16.4% |
| Trade receivables | 40 | €644,543 | €773,154 | +€128,611 | +20.0% |
| Other amounts receivable | 41 | €156,802 | €159,808 | +€3,006 | +1.9% |
| Cash at bank and in hand | 54/58 | €10,550 | €79,734 | +€69,184 | +656% |
| Total equity and liabilities | 10/49 | €1,756,985 | €1,978,250 | +€221,265 | +12.6% |
| Equity | 10/15 | €471,992 | €495,077 | +€23,086 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €586,000 | €586,000 | = | 0.0% |
| Reserves | 13 | €15,134 | €15,134 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,274 | €13,274 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,742 | -€124,656 | +€23,086 | +15.6% |
| Amounts payable | 17/49 | €1,284,994 | €1,483,173 | +€198,179 | +15.4% |
| Amounts payable after more than one year | 17 | €198,859 | €284,751 | +€85,892 | +43.2% |
| Financial debts | 170/4 | €198,859 | €284,751 | +€85,892 | +43.2% |
| Amounts payable within one year | 42/48 | €1,086,135 | €1,198,422 | +€112,287 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €90,571 | €76,857 | -€13,714 | -15.1% |
| Financial debts | 43 | €759,475 | €800,000 | +€40,525 | +5.3% |
| Credit institutions | 430/8 | €759,475 | €800,000 | +€40,525 | +5.3% |
| Trade debts | 44 | €141,094 | €235,454 | +€94,360 | +66.9% |
| Suppliers | 440/4 | €141,094 | €235,454 | +€94,360 | +66.9% |
| Taxes, remuneration and social security | 45 | €94,995 | €86,111 | -€8,884 | -9.4% |
| Taxes | 450/3 | €1,784 | €2,227 | +€444 | +24.9% |
| Remuneration and social security | 454/9 | €93,211 | €83,883 | -€9,328 | -10.0% |
| Remuneration, social security and pensions | 62 | €1,118,739 | €984,223 | -€134,516 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,794 | €164,853 | -€6,941 | -4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €23,097 | €27,523 | +€4,426 | +19.2% |
| Gross operating margin | 9900 | €1,013,978 | €1,238,983 | +€225,004 | +22.2% |
| Operating profit (loss) | 9901 | -€299,652 | €62,383 | +€362,035 | |
| Financial income | 75/76B | €2,010 | €38 | -€1,972 | -98.1% |
| Recurring financial income | 75 | €2,010 | €38 | -€1,972 | -98.1% |
| Financial charges | 65/66B | €51,953 | €39,986 | -€11,967 | -23.0% |
| Recurring financial charges | 65 | €51,953 | €39,986 | -€11,967 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | -€349,595 | €22,434 | +€372,029 | |
| Income taxes | 67/77 | €3,000 | -€652 | -€3,652 | |
| Profit (loss) for the period | 9904 | -€352,595 | €23,086 | +€375,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€352,595 | €23,086 | +€375,681 |
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 17 October 2026 via checked.be.