KAPITAL 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.
KAPITAL CONSTRUCT
Largest movements
- Receivables within one year -€15,680
down €15,680 (-46.5%), from €33,755 to €18,076
of which Trade receivables: -€12,646
- Tangible fixed assets -€4,000
down €4,000 (-35.6%), from €11,235 to €7,235
- Cash +€2,149
up €2,149 (+36.7%), from €5,858 to €8,007
mainly Receivables within one year (+€15,680) and Depreciation (+€4,000)
- Tax, wage and social debts -€14,140
down €14,140 (-70.3%), from €20,107 to €5,967
of which Remuneration and social security: -€14,496
- Trade debts -€4,339
no longer reported in 2025 (was €4,339)
- Profit (loss) carried forward +€1,024
up €1,024 (+4.3%), from €23,902 to €24,926
- Depreciation +€3,057
up €3,057 (+324.4%), from €942 to €4,000
- Financial charges -€599
down €599 (-98.0%), from €611 to €12
- Gross operating margin +€587
up €587 (+11.6%), from €5,053 to €5,639
- Taxes -€407
down €407 (-53.3%), from €763 to €356
- Other operating charges -€392
down €392 (-57.7%), from €680 to €288
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 | €50,848 | €33,393 | -€17,455 | -34.3% |
| Fixed assets | 21/28 | €11,235 | €7,235 | -€4,000 | -35.6% |
| Tangible fixed assets | 22/27 | €11,235 | €7,235 | -€4,000 | -35.6% |
| Furniture and vehicles | 24 | €11,235 | €7,235 | -€4,000 | -35.6% |
| Current assets | 29/58 | €39,613 | €26,158 | -€13,456 | -34.0% |
| Amounts receivable within one year | 40/41 | €33,755 | €18,076 | -€15,680 | -46.5% |
| Trade receivables | 40 | €25,622 | €12,975 | -€12,646 | -49.4% |
| Other amounts receivable | 41 | €8,134 | €5,100 | -€3,033 | -37.3% |
| Cash at bank and in hand | 54/58 | €5,858 | €8,007 | +€2,149 | +36.7% |
| Deferred charges and accrued income | 490/1 | - | €75 | +€75 | |
| Total equity and liabilities | 10/49 | €50,848 | €33,393 | -€17,455 | -34.3% |
| Equity | 10/15 | €26,402 | €27,426 | +€1,024 | +3.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,902 | €24,926 | +€1,024 | +4.3% |
| Amounts payable | 17/49 | €24,446 | €5,967 | -€18,479 | -75.6% |
| Amounts payable within one year | 42/48 | €24,446 | €5,967 | -€18,479 | -75.6% |
| Trade debts | 44 | €4,339 | - | -€4,339 | |
| Suppliers | 440/4 | €4,339 | - | -€4,339 | |
| Taxes, remuneration and social security | 45 | €20,107 | €5,967 | -€14,140 | -70.3% |
| Taxes | 450/3 | €2,811 | €3,167 | +€356 | +12.7% |
| Remuneration and social security | 454/9 | €17,296 | €2,800 | -€14,496 | -83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €942 | €4,000 | +€3,057 | +324.4% |
| Other operating charges | 640/8 | €680 | €288 | -€392 | -57.7% |
| Gross operating margin | 9900 | €5,053 | €5,639 | +€587 | +11.6% |
| Operating profit (loss) | 9901 | €3,430 | €1,352 | -€2,078 | -60.6% |
| Financial income | 75/76B | €7 | €40 | +€33 | +479.7% |
| Recurring financial income | 75 | €7 | €40 | +€33 | +479.7% |
| Financial charges | 65/66B | €611 | €12 | -€599 | -98.0% |
| Recurring financial charges | 65 | €611 | €12 | -€599 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | €2,826 | €1,380 | -€1,446 | -51.2% |
| Income taxes | 67/77 | €763 | €356 | -€407 | -53.3% |
| Profit (loss) for the period | 9904 | €2,063 | €1,024 | -€1,039 | -50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,063 | €1,024 | -€1,039 | -50.4% |
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 5 October 2026 via checked.be.