N-Constructions: 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.
N-Constructions
Largest movements
- Cash +€91,257
up €91,257 (+9801.6%), from €931 to €92,188
mainly Receivables within one year (+€73,921) and Net result for the year (+€22,689)
- Receivables within one year -€73,921
down €73,921 (-70.3%), from €105,115 to €31,194
of which Other amounts receivable: -€73,655
- Stocks and contracts -€19,119
down €19,119 (-10.1%), from €189,418 to €170,300
- Tangible fixed assets +€3,750
up €3,750 (+10.8%), from €34,648 to €38,398
- Profit (loss) carried forward +€22,689
up €22,689 (+18.0%), from €126,194 to €148,884
- Other debts -€17,546
down €17,546 (-11.4%), from €154,564 to €137,018
- Debts after one year -€8,356
down €8,356 (-56.4%), from €14,823 to €6,467
- Tax, wage and social debts +€5,510
up €5,510 (+188.7%), from €2,920 to €8,430
- Gross operating margin +€22,806
up €22,806 (+76.9%), from €29,655 to €52,461
- Financial charges +€2,862
up €2,862 (+45.2%), from €6,331 to €9,192
- Taxes +€2,034
up €2,034 (+72.7%), from €2,800 to €4,835
- Depreciation +€1,277
up €1,277 (+9.1%), from €14,068 to €15,345
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 | €330,692 | €333,414 | +€2,722 | +0.8% |
| Fixed assets | 21/28 | €35,016 | €38,766 | +€3,750 | +10.7% |
| Tangible fixed assets | 22/27 | €34,648 | €38,398 | +€3,750 | +10.8% |
| Furniture and vehicles | 24 | €34,648 | €38,398 | +€3,750 | +10.8% |
| Financial fixed assets | 28 | €368 | €368 | = | 0.0% |
| Current assets | 29/58 | €295,676 | €294,648 | -€1,028 | -0.3% |
| Stocks and contracts in progress | 3 | €189,418 | €170,300 | -€19,119 | -10.1% |
| Stocks | 30/36 | €189,418 | €170,300 | -€19,119 | -10.1% |
| Amounts receivable within one year | 40/41 | €105,115 | €31,194 | -€73,921 | -70.3% |
| Trade receivables | 40 | €682 | €417 | -€266 | -38.9% |
| Other amounts receivable | 41 | €104,432 | €30,777 | -€73,655 | -70.5% |
| Cash at bank and in hand | 54/58 | €931 | €92,188 | +€91,257 | +9801.6% |
| Deferred charges and accrued income | 490/1 | €212 | €967 | +€755 | +356.1% |
| Total equity and liabilities | 10/49 | €330,692 | €333,414 | +€2,722 | +0.8% |
| Equity | 10/15 | €145,217 | €167,906 | +€22,689 | +15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €422 | €422 | = | 0.0% |
| Distributable reserves | 133 | €422 | €422 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,194 | €148,884 | +€22,689 | +18.0% |
| Amounts payable | 17/49 | €185,476 | €165,509 | -€19,967 | -10.8% |
| Amounts payable after more than one year | 17 | €14,823 | €6,467 | -€8,356 | -56.4% |
| Financial debts | 170/4 | €14,823 | €6,467 | -€8,356 | -56.4% |
| Amounts payable within one year | 42/48 | €170,653 | €159,042 | -€11,611 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €8,062 | €8,356 | +€294 | +3.6% |
| Trade debts | 44 | €5,107 | €5,238 | +€131 | +2.6% |
| Suppliers | 440/4 | €5,107 | €5,238 | +€131 | +2.6% |
| Taxes, remuneration and social security | 45 | €2,920 | €8,430 | +€5,510 | +188.7% |
| Taxes | 450/3 | €2,920 | €8,430 | +€5,510 | +188.7% |
| Other amounts payable | 47/48 | €154,564 | €137,018 | -€17,546 | -11.4% |
| Non-recurring operating income | 76A | - | €23,500 | +€23,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,068 | €15,345 | +€1,277 | +9.1% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €29,655 | €52,461 | +€22,806 | +76.9% |
| Operating profit (loss) | 9901 | €15,587 | €36,716 | +€21,129 | +135.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €6,331 | €9,192 | +€2,862 | +45.2% |
| Recurring financial charges | 65 | €6,331 | €9,192 | +€2,862 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €9,256 | €27,524 | +€18,267 | +197.3% |
| Income taxes | 67/77 | €2,800 | €4,835 | +€2,034 | +72.7% |
| Profit (loss) for the period | 9904 | €6,456 | €22,689 | +€16,233 | +251.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,456 | €22,689 | +€16,233 | +251.4% |
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 3 October 2026 via checked.be.