KBE-Construct: 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.
KBE-Construct
Largest movements
- Cash +€17,179
up €17,179 (+72.8%), from €23,595 to €40,774
mainly Receivables within one year (+€13,552) and Depreciation (+€10,060)
- Receivables within one year -€13,552
down €13,552 (-50.6%), from €26,775 to €13,223
of which Trade receivables: -€13,978
- Tangible fixed assets -€9,160
down €9,160 (-39.8%), from €23,038 to €13,878
of which Leasing and similar rights: -€5,445
- Stocks and contracts +€2,828
new in 2025: €2,828
- Other debts +€8,835
up €8,835 (+245.9%), from €3,593 to €12,428
- Reserves -€8,095
down €8,095 (-16.1%), from €50,410 to €42,315
- Debts after one year -€6,688
no longer reported in 2025 (was €6,688)
- Trade debts +€2,522
new in 2025: €2,522
- Tax, wage and social debts +€2,028
up €2,028 (+101.4%), from €2,000 to €4,028
of which Taxes: +€1,800
- Gross operating margin -€8,448
down €8,448 (-32.3%), from €26,133 to €17,685
- Taxes -€1,712
down €1,712 (-57.1%), from €3,001 to €1,288
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 | €74,222 | €70,981 | -€3,242 | -4.4% |
| Fixed assets | 21/28 | €23,038 | €13,878 | -€9,160 | -39.8% |
| Tangible fixed assets | 22/27 | €23,038 | €13,878 | -€9,160 | -39.8% |
| Plant, machinery and equipment | 23 | €2,953 | €1,277 | -€1,676 | -56.8% |
| Furniture and vehicles | 24 | €8,747 | €6,708 | -€2,038 | -23.3% |
| Leasing and similar rights | 25 | €11,338 | €5,893 | -€5,445 | -48.0% |
| Current assets | 29/58 | €51,185 | €57,103 | +€5,918 | +11.6% |
| Stocks and contracts in progress | 3 | - | €2,828 | +€2,828 | |
| Stocks | 30/36 | - | €2,828 | +€2,828 | |
| Amounts receivable within one year | 40/41 | €26,775 | €13,223 | -€13,552 | -50.6% |
| Trade receivables | 40 | €22,058 | €8,079 | -€13,978 | -63.4% |
| Other amounts receivable | 41 | €4,717 | €5,144 | +€426 | +9.0% |
| Cash at bank and in hand | 54/58 | €23,595 | €40,774 | +€17,179 | +72.8% |
| Deferred charges and accrued income | 490/1 | €815 | €278 | -€537 | -65.9% |
| Total equity and liabilities | 10/49 | €74,222 | €70,981 | -€3,242 | -4.4% |
| Equity | 10/15 | €53,410 | €45,315 | -€8,095 | -15.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €50,410 | €42,315 | -€8,095 | -16.1% |
| Distributable reserves | 133 | €50,410 | €42,315 | -€8,095 | -16.1% |
| Amounts payable | 17/49 | €20,812 | €25,665 | +€4,853 | +23.3% |
| Amounts payable after more than one year | 17 | €6,688 | - | -€6,688 | |
| Financial debts | 170/4 | €6,688 | - | -€6,688 | |
| Amounts payable within one year | 42/48 | €14,125 | €25,665 | +€11,541 | +81.7% |
| Current portion of amounts payable after more than one year | 42 | €4,940 | €4,560 | -€380 | -7.7% |
| Financial debts | 43 | €3,591 | €2,127 | -€1,464 | -40.8% |
| Credit institutions | 430/8 | €3,591 | €2,127 | -€1,464 | -40.8% |
| Trade debts | 44 | - | €2,522 | +€2,522 | |
| Suppliers | 440/4 | - | €2,522 | +€2,522 | |
| Taxes, remuneration and social security | 45 | €2,000 | €4,028 | +€2,028 | +101.4% |
| Taxes | 450/3 | - | €1,800 | +€1,800 | |
| Remuneration and social security | 454/9 | €2,000 | €2,228 | +€228 | +11.4% |
| Other amounts payable | 47/48 | €3,593 | €12,428 | +€8,835 | +245.9% |
| Non-recurring operating income | 76A | €1,816 | €1,686 | -€130 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,194 | €10,060 | -€134 | -1.3% |
| Other operating charges | 640/8 | €1,882 | €1,629 | -€253 | -13.4% |
| Gross operating margin | 9900 | €26,133 | €17,685 | -€8,448 | -32.3% |
| Operating profit (loss) | 9901 | €14,057 | €5,996 | -€8,061 | -57.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,023 | €803 | -€221 | -21.6% |
| Recurring financial charges | 65 | €1,023 | €803 | -€221 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €13,034 | €5,193 | -€7,840 | -60.2% |
| Income taxes | 67/77 | €3,001 | €1,288 | -€1,712 | -57.1% |
| Profit (loss) for the period | 9904 | €10,033 | €3,905 | -€6,128 | -61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,033 | €3,905 | -€6,128 | -61.1% |
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 11 October 2026 via checked.be.