MODERN CONSTRUCTION: 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.
MODERN CONSTRUCTION
Largest movements
- Receivables within one year +€23,794
up €23,794 (+226%), from €10,517 to €34,311
of which Trade receivables: +€24,721
- Cash -€13,100
down €13,100 (-64.4%), from €20,343 to €7,243
mainly Receivables within one year (-€23,794) and Investment in fixed assets (net) (-€4,539)
- Tangible fixed assets +€737
up €737 (+5.6%), from €13,120 to €13,857
- Profit (loss) carried forward +€9,732
up €9,732 (+64.6%), from €15,065 to €24,798
- Tax, wage and social debts +€2,605
up €2,605 (+69.2%), from €3,766 to €6,371
- Other debts -€717
down €717 (-47.2%), from €1,520 to €803
- Gross operating margin -€3,558
down €3,558 (-17.8%), from €20,036 to €16,477
- Depreciation +€3,030
up €3,030 (+393%), from €772 to €3,802
- Taxes -€1,162
down €1,162 (-30.8%), from €3,766 to €2,605
- Financial charges -€202
down €202 (-53.3%), from €379 to €177
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 | €44,495 | €55,953 | +€11,458 | +25.8% |
| Fixed assets | 21/28 | €13,120 | €13,857 | +€737 | +5.6% |
| Tangible fixed assets | 22/27 | €13,120 | €13,857 | +€737 | +5.6% |
| Furniture and vehicles | 24 | €13,120 | €13,857 | +€737 | +5.6% |
| Current assets | 29/58 | €31,375 | €42,096 | +€10,722 | +34.2% |
| Amounts receivable within one year | 40/41 | €10,517 | €34,311 | +€23,794 | +226% |
| Trade receivables | 40 | €6,490 | €31,211 | +€24,721 | +381% |
| Other amounts receivable | 41 | €4,027 | €3,100 | -€927 | -23.0% |
| Cash at bank and in hand | 54/58 | €20,343 | €7,243 | -€13,100 | -64.4% |
| Deferred charges and accrued income | 490/1 | €515 | €542 | +€27 | +5.3% |
| Total equity and liabilities | 10/49 | €44,495 | €55,953 | +€11,458 | +25.8% |
| Equity | 10/15 | €17,565 | €27,298 | +€9,732 | +55.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,065 | €24,798 | +€9,732 | +64.6% |
| Amounts payable | 17/49 | €26,930 | €28,656 | +€1,726 | +6.4% |
| Amounts payable within one year | 42/48 | €26,930 | €28,656 | +€1,726 | +6.4% |
| Trade debts | 44 | €21,644 | €21,482 | -€162 | -0.7% |
| Suppliers | 440/4 | €21,644 | €21,482 | -€162 | -0.7% |
| Taxes, remuneration and social security | 45 | €3,766 | €6,371 | +€2,605 | +69.2% |
| Taxes | 450/3 | €3,766 | €6,371 | +€2,605 | +69.2% |
| Other amounts payable | 47/48 | €1,520 | €803 | -€717 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €772 | €3,802 | +€3,030 | +393% |
| Other operating charges | 640/8 | €53 | €161 | +€108 | +202% |
| Gross operating margin | 9900 | €20,036 | €16,477 | -€3,558 | -17.8% |
| Operating profit (loss) | 9901 | €19,210 | €12,514 | -€6,697 | -34.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €379 | €177 | -€202 | -53.3% |
| Recurring financial charges | 65 | €379 | €177 | -€202 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €18,832 | €12,337 | -€6,495 | -34.5% |
| Income taxes | 67/77 | €3,766 | €2,605 | -€1,162 | -30.8% |
| Profit (loss) for the period | 9904 | €15,065 | €9,732 | -€5,333 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,065 | €9,732 | -€5,333 | -35.4% |
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 13 October 2026 via checked.be.