NEW CONSTRUCT PISERCHIA: 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.
NEW CONSTRUCT PISERCHIA
Largest movements
- Tangible fixed assets +€123,966
up €123,966 (+177.3%), from €69,906 to €193,871
of which Furniture and vehicles: +€128,612
- Stocks and contracts +€69,654
new in 2025: €69,654
- Cash -€49,843
down €49,843 (-42.2%), from €118,071 to €68,228
mainly Investment in fixed assets (net) (-€162,273) and Stocks and contracts (-€69,654)
- Intangible fixed assets +€3,958
new in 2025: €3,958
- Debts after one year +€81,401
up €81,401 (+541.3%), from €15,039 to €96,441
- Reserves +€33,630
up €33,630 (+37.8%), from €89,037 to €122,667
- Current portion of long-term debt +€17,643
up €17,643 (+335.8%), from €5,254 to €22,897
- Other debts +€9,720
up €9,720 (+19.8%), from €49,099 to €58,820
- Trade debts +€4,496
up €4,496 (+724.8%), from €620 to €5,116
- Gross operating margin -€32,164
down €32,164 (-18.7%), from €172,456 to €140,292
- Depreciation +€19,743
up €19,743 (+135.2%), from €14,607 to €34,350
- Purchases and services +€13,448
up €13,448 (+4.0%), from €334,416 to €347,864
- Staff costs +€12,856
up €12,856 (+35.8%), from €35,933 to €48,790
- Taxes -€12,300
down €12,300 (-39.5%), from €31,123 to €18,822
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 | €196,173 | €346,840 | +€150,667 | +76.8% |
| Fixed assets | 21/28 | €70,111 | €198,034 | +€127,923 | +182.5% |
| Intangible fixed assets | 21 | - | €3,958 | +€3,958 | |
| Tangible fixed assets | 22/27 | €69,906 | €193,871 | +€123,966 | +177.3% |
| Plant, machinery and equipment | 23 | €4,360 | €1,449 | -€2,911 | -66.8% |
| Furniture and vehicles | 24 | €37,646 | €166,258 | +€128,612 | +341.6% |
| Other tangible fixed assets | 26 | €27,900 | €26,164 | -€1,736 | -6.2% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €126,062 | €148,806 | +€22,744 | +18.0% |
| Stocks and contracts in progress | 3 | - | €69,654 | +€69,654 | |
| Stocks | 30/36 | - | €69,654 | +€69,654 | |
| Amounts receivable within one year | 40/41 | €7,991 | €10,924 | +€2,933 | +36.7% |
| Trade receivables | 40 | €5,735 | €10,924 | +€5,189 | +90.5% |
| Other amounts receivable | 41 | €2,256 | - | -€2,256 | |
| Cash at bank and in hand | 54/58 | €118,071 | €68,228 | -€49,843 | -42.2% |
| Total equity and liabilities | 10/49 | €196,173 | €346,840 | +€150,667 | +76.8% |
| Equity | 10/15 | €95,037 | €128,667 | +€33,630 | +35.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €89,037 | €122,667 | +€33,630 | +37.8% |
| Distributable reserves | 133 | €89,037 | €122,667 | +€33,630 | +37.8% |
| Amounts payable | 17/49 | €101,135 | €218,173 | +€117,037 | +115.7% |
| Amounts payable after more than one year | 17 | €15,039 | €96,441 | +€81,401 | +541.3% |
| Financial debts | 170/4 | €15,039 | €96,441 | +€81,401 | +541.3% |
| Amounts payable within one year | 42/48 | €86,096 | €121,732 | +€35,636 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €5,254 | €22,897 | +€17,643 | +335.8% |
| Trade debts | 44 | €620 | €5,116 | +€4,496 | +724.8% |
| Suppliers | 440/4 | €620 | €5,116 | +€4,496 | +724.8% |
| Taxes, remuneration and social security | 45 | €31,123 | €34,900 | +€3,778 | +12.1% |
| Taxes | 450/3 | €31,123 | €34,900 | +€3,778 | +12.1% |
| Other amounts payable | 47/48 | €49,099 | €58,820 | +€9,720 | +19.8% |
| Non-recurring operating income | 76A | €653 | €741 | +€88 | +13.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €334,416 | €347,864 | +€13,448 | +4.0% |
| Remuneration, social security and pensions | 62 | €35,933 | €48,790 | +€12,856 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,607 | €34,350 | +€19,743 | +135.2% |
| Other operating charges | 640/8 | €824 | €2,151 | +€1,327 | +161.0% |
| Non-recurring operating charges | 66A | €43 | €211 | +€169 | +394.9% |
| Gross operating margin | 9900 | €172,456 | €140,292 | -€32,164 | -18.7% |
| Operating profit (loss) | 9901 | €121,048 | €54,790 | -€66,258 | -54.7% |
| Financial charges | 65/66B | €889 | €2,338 | +€1,449 | +163.1% |
| Recurring financial charges | 65 | €402 | €1,988 | +€1,586 | +394.1% |
| Non-recurring financial charges | 66B | €486 | €350 | -€136 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €120,160 | €52,452 | -€67,708 | -56.3% |
| Income taxes | 67/77 | €31,123 | €18,822 | -€12,300 | -39.5% |
| Profit (loss) for the period | 9904 | €89,037 | €33,630 | -€55,407 | -62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €89,037 | €33,630 | -€55,407 | -62.2% |
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.