IV CONSTRUCT: 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.
IV CONSTRUCT
Largest movements
- Receivables within one year -€36,187
down €36,187 (-57.3%), from €63,206 to €27,019
of which Trade receivables: -€35,836
- Deferred charges and accrued income +€14,219
up €14,219 (+1941.4%), from €732 to €14,951
- Tangible fixed assets -€11,313
down €11,313 (-33.4%), from €33,841 to €22,528
of which Furniture and vehicles: -€14,489
- Trade debts -€27,894
down €27,894 (-58.1%), from €48,049 to €20,155
- Tax, wage and social debts -€9,580
down €9,580 (-38.1%), from €25,145 to €15,565
- Other debts +€4,922
new in 2025: €4,922
- Gross operating margin -€71,239
down €71,239 (-76.6%), from €93,017 to €21,778
- Taxes -€14,846
down €14,846 (-97.6%), from €15,206 to €359
- Other operating charges +€1,499
up €1,499 (+98.4%), from €1,522 to €3,021
- Depreciation +€1,006
up €1,006 (+6.1%), from €16,536 to €17,542
- Financial charges +€961
up €961 (+227.1%), from €423 to €1,384
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 | €135,536 | €102,469 | -€33,066 | -24.4% |
| Fixed assets | 21/28 | €33,841 | €22,528 | -€11,313 | -33.4% |
| Tangible fixed assets | 22/27 | €33,841 | €22,528 | -€11,313 | -33.4% |
| Plant, machinery and equipment | 23 | €801 | €3,977 | +€3,176 | +396.5% |
| Furniture and vehicles | 24 | €33,040 | €18,551 | -€14,489 | -43.9% |
| Current assets | 29/58 | €101,695 | €79,941 | -€21,753 | -21.4% |
| Amounts receivable within one year | 40/41 | €63,206 | €27,019 | -€36,187 | -57.3% |
| Trade receivables | 40 | €55,003 | €19,167 | -€35,836 | -65.2% |
| Other amounts receivable | 41 | €8,202 | €7,852 | -€350 | -4.3% |
| Cash at bank and in hand | 54/58 | €37,757 | €37,971 | +€215 | +0.6% |
| Deferred charges and accrued income | 490/1 | €732 | €14,951 | +€14,219 | +1941.4% |
| Total equity and liabilities | 10/49 | €135,536 | €102,469 | -€33,066 | -24.4% |
| Equity | 10/15 | €62,341 | €61,828 | -€513 | -0.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,341 | €58,828 | -€513 | -0.9% |
| Amounts payable | 17/49 | €73,194 | €40,641 | -€32,553 | -44.5% |
| Amounts payable within one year | 42/48 | €73,194 | €40,641 | -€32,553 | -44.5% |
| Trade debts | 44 | €48,049 | €20,155 | -€27,894 | -58.1% |
| Suppliers | 440/4 | €48,049 | €20,155 | -€27,894 | -58.1% |
| Taxes, remuneration and social security | 45 | €25,145 | €15,565 | -€9,580 | -38.1% |
| Taxes | 450/3 | €25,145 | €15,565 | -€9,580 | -38.1% |
| Other amounts payable | 47/48 | - | €4,922 | +€4,922 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,536 | €17,542 | +€1,006 | +6.1% |
| Other operating charges | 640/8 | €1,522 | €3,021 | +€1,499 | +98.4% |
| Gross operating margin | 9900 | €93,017 | €21,778 | -€71,239 | -76.6% |
| Operating profit (loss) | 9901 | €74,959 | €1,215 | -€73,743 | -98.4% |
| Financial income | 75/76B | €12 | €15 | +€3 | +29.6% |
| Recurring financial income | 75 | €12 | €15 | +€3 | +29.6% |
| Financial charges | 65/66B | €423 | €1,384 | +€961 | +227.1% |
| Recurring financial charges | 65 | €423 | €1,384 | +€961 | +227.1% |
| Profit (loss) for the period before taxes | 9903 | €74,547 | -€154 | -€74,701 | |
| Income taxes | 67/77 | €15,206 | €359 | -€14,846 | -97.6% |
| Profit (loss) for the period | 9904 | €59,341 | -€513 | -€59,855 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,341 | -€513 | -€59,855 |
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 3 October 2026 via checked.be.