LIFTING-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.
LIFTING-CONSTRUCT
Largest movements
- Stocks and contracts -€1.2m
down €1.2m (-33.4%), from €3.5m to €2.3m
- Receivables within one year +€676,066
up €676,066 (+12105.3%), from €5,585 to €681,651
of which Trade receivables: +€674,552
- Cash -€230,480
down €230,480 (-81.9%), from €281,433 to €50,952
mainly Debts after one year (-€1.2m) and Receivables within one year (-€676,066)
- Debts after one year -€1.2m
down €1.2m (-36.7%), from €3.2m to €2.0m
- Advances received +€814,073
new in 2025: €814,073
- Tax, wage and social debts -€231,467
down €231,467 (-96.6%), from €239,544 to €8,077
of which Taxes: -€231,467
- Profit (loss) carried forward -€160,440
down €160,440 (-100.0%), from €160,440 to €0
- Other debts +€43,138
up €43,138 (+15.0%), from €288,151 to €331,289
- Gross operating margin -€244,362
down €244,362 (-99.4%), from €245,892 to €1,531
- Financial charges -€84,670
down €84,670 (-36.9%), from €229,516 to €144,846
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 | €4,263,147 | €3,531,108 | -€732,039 | -17.2% |
| Fixed assets | 21/28 | €496,117 | €479,886 | -€16,232 | -3.3% |
| Intangible fixed assets | 21 | €1,721 | €1,221 | -€500 | -29.1% |
| Tangible fixed assets | 22/27 | €489,902 | €474,170 | -€15,732 | -3.2% |
| Land and buildings | 22 | €474,557 | €459,086 | -€15,471 | -3.3% |
| Plant, machinery and equipment | 23 | €753 | €492 | -€261 | -34.6% |
| Assets under construction and advance payments | 27 | €14,592 | €14,592 | = | 0.0% |
| Financial fixed assets | 28 | €4,495 | €4,495 | = | 0.0% |
| Current assets | 29/58 | €3,767,030 | €3,051,223 | -€715,808 | -19.0% |
| Stocks and contracts in progress | 3 | €3,471,244 | €2,312,715 | -€1.2m | -33.4% |
| Stocks | 30/36 | €3,471,244 | €2,312,715 | -€1.2m | -33.4% |
| Amounts receivable within one year | 40/41 | €5,585 | €681,651 | +€676,066 | +12105.3% |
| Trade receivables | 40 | €5,098 | €679,650 | +€674,552 | +13230.8% |
| Other amounts receivable | 41 | €487 | €2,001 | +€1,514 | +311.2% |
| Cash at bank and in hand | 54/58 | €281,433 | €50,952 | -€230,480 | -81.9% |
| Deferred charges and accrued income | 490/1 | €8,768 | €5,904 | -€2,865 | -32.7% |
| Total equity and liabilities | 10/49 | €4,263,147 | €3,531,108 | -€732,039 | -17.2% |
| Equity | 10/15 | €471,161 | €306,353 | -€164,808 | -35.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €249,221 | €244,853 | -€4,368 | -1.8% |
| Non-distributable reserves | 130/1 | €10,744 | €10,744 | = | 0.0% |
| Legal reserve | 130 | €10,744 | €10,744 | = | 0.0% |
| Distributable reserves | 133 | €238,477 | €234,109 | -€4,368 | -1.8% |
| Profit (loss) carried forward | 14 | €160,440 | €0 | -€160,440 | -100.0% |
| Amounts payable | 17/49 | €3,791,986 | €3,224,755 | -€567,231 | -15.0% |
| Amounts payable after more than one year | 17 | €3,236,527 | €2,049,961 | -€1.2m | -36.7% |
| Financial debts | 170/4 | €3,236,527 | €2,049,961 | -€1.2m | -36.7% |
| Amounts payable within one year | 42/48 | €555,340 | €1,174,718 | +€619,379 | +111.5% |
| Current portion of amounts payable after more than one year | 42 | €14,485 | €15,060 | +€575 | +4.0% |
| Trade debts | 44 | €13,159 | €6,220 | -€6,940 | -52.7% |
| Suppliers | 440/4 | €13,159 | €6,220 | -€6,940 | -52.7% |
| Advances received on contracts in progress | 46 | - | €814,073 | +€814,073 | |
| Taxes, remuneration and social security | 45 | €239,544 | €8,077 | -€231,467 | -96.6% |
| Taxes | 450/3 | €237,244 | €5,777 | -€231,467 | -97.6% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €288,151 | €331,289 | +€43,138 | +15.0% |
| Accrued charges and deferred income | 492/3 | €120 | €76 | -€43 | -36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,505 | €16,232 | -€273 | -1.7% |
| Other operating charges | 640/8 | €2,966 | €4,120 | +€1,154 | +38.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €245,892 | €1,531 | -€244,362 | -99.4% |
| Operating profit (loss) | 9901 | €226,422 | -€18,820 | -€245,243 | |
| Financial income | 75/76B | €7 | €0 | -€6 | -97.9% |
| Recurring financial income | 75 | €7 | €0 | -€6 | -97.9% |
| Financial charges | 65/66B | €229,516 | €144,846 | -€84,670 | -36.9% |
| Recurring financial charges | 65 | €229,516 | €144,846 | -€84,670 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,087 | -€163,666 | -€160,580 | -5202.4% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €1,208 | €1,142 | -€66 | -5.5% |
| Profit (loss) for the period | 9904 | -€4,294 | -€164,808 | -€160,514 | -3737.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,294 | -€164,808 | -€160,514 | -3737.8% |
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 6 October 2026 via checked.be.