NORD-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.
NORD-CONSTRUCT
Largest movements
- Receivables within one year -€113,571
down €113,571 (-36.2%), from €313,662 to €200,091
of which Trade receivables: -€111,052
- Cash -€60,439
down €60,439 (-88.7%), from €68,154 to €7,715
mainly Short-term financial debts (-€121,295) and Trade debts (-€32,450)
- Stocks and contracts -€6,738
down €6,738 (-12.1%), from €55,567 to €48,829
- Short-term financial debts -€121,295
no longer reported in 2025 (was €121,295)
- Trade debts -€32,450
down €32,450 (-43.3%), from €74,882 to €42,432
- Tax, wage and social debts -€29,386
down €29,386 (-32.7%), from €89,896 to €60,510
of which Taxes: -€31,195
- Financial charges +€29,156
up €29,156 (+514.9%), from €5,663 to €34,819
of which Non-recurring financial charges: +€22,356
- Depreciation +€10,023
up €10,023 (+44.8%), from €22,394 to €32,417
- Gross operating margin -€9,474
down €9,474 (-10.9%), from €86,749 to €77,275
- Taxes -€8,644
down €8,644 (-57.2%), from €15,120 to €6,476
- Other operating charges -€2,739
down €2,739 (-43.0%), from €6,367 to €3,628
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 | €535,726 | €352,158 | -€183,568 | -34.3% |
| Fixed assets | 21/28 | €96,139 | €92,829 | -€3,310 | -3.4% |
| Tangible fixed assets | 22/27 | €91,139 | €87,829 | -€3,310 | -3.6% |
| Plant, machinery and equipment | 23 | €36,061 | €25,690 | -€10,371 | -28.8% |
| Furniture and vehicles | 24 | €45,815 | €53,832 | +€8,017 | +17.5% |
| Other tangible fixed assets | 26 | €9,263 | €8,307 | -€956 | -10.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €439,586 | €259,329 | -€180,258 | -41.0% |
| Stocks and contracts in progress | 3 | €55,567 | €48,829 | -€6,738 | -12.1% |
| Stocks | 30/36 | €55,567 | €48,829 | -€6,738 | -12.1% |
| Amounts receivable within one year | 40/41 | €313,662 | €200,091 | -€113,571 | -36.2% |
| Trade receivables | 40 | €274,832 | €163,780 | -€111,052 | -40.4% |
| Other amounts receivable | 41 | €38,830 | €36,311 | -€2,519 | -6.5% |
| Cash at bank and in hand | 54/58 | €68,154 | €7,715 | -€60,439 | -88.7% |
| Deferred charges and accrued income | 490/1 | €2,203 | €2,694 | +€490 | +22.2% |
| Total equity and liabilities | 10/49 | €535,726 | €352,158 | -€183,568 | -34.3% |
| Equity | 10/15 | €249,238 | €249,216 | -€22 | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €246,211 | €246,216 | +€4 | 0.0% |
| Distributable reserves | 133 | €246,211 | €246,216 | +€4 | 0.0% |
| Profit (loss) carried forward | 14 | €27 | - | -€27 | |
| Amounts payable | 17/49 | €286,488 | €102,942 | -€183,545 | -64.1% |
| Amounts payable within one year | 42/48 | €286,073 | €102,942 | -€183,131 | -64.0% |
| Financial debts | 43 | €121,295 | - | -€121,295 | |
| Credit institutions | 430/8 | €121,295 | - | -€121,295 | |
| Trade debts | 44 | €74,882 | €42,432 | -€32,450 | -43.3% |
| Suppliers | 440/4 | €74,882 | €42,432 | -€32,450 | -43.3% |
| Taxes, remuneration and social security | 45 | €89,896 | €60,510 | -€29,386 | -32.7% |
| Taxes | 450/3 | €83,406 | €52,211 | -€31,195 | -37.4% |
| Remuneration and social security | 454/9 | €6,490 | €8,299 | +€1,809 | +27.9% |
| Accrued charges and deferred income | 492/3 | €415 | - | -€415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,394 | €32,417 | +€10,023 | +44.8% |
| Other operating charges | 640/8 | €6,367 | €3,628 | -€2,739 | -43.0% |
| Gross operating margin | 9900 | €86,749 | €77,275 | -€9,474 | -10.9% |
| Operating profit (loss) | 9901 | €57,988 | €41,230 | -€16,758 | -28.9% |
| Financial income | 75/76B | €6 | €42 | +€36 | +623.5% |
| Recurring financial income | 75 | €6 | €42 | +€36 | +623.5% |
| Financial charges | 65/66B | €5,663 | €34,819 | +€29,156 | +514.9% |
| Recurring financial charges | 65 | €5,663 | €12,462 | +€6,800 | +120.1% |
| Non-recurring financial charges | 66B | - | €22,356 | +€22,356 | |
| Profit (loss) for the period before taxes | 9903 | €52,331 | €6,454 | -€45,878 | -87.7% |
| Income taxes | 67/77 | €15,120 | €6,476 | -€8,644 | -57.2% |
| Profit (loss) for the period | 9904 | €37,211 | -€22 | -€37,234 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,211 | -€22 | -€37,234 |
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 10 October 2026 via checked.be.