NSE 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.
NSE CONSTRUCT
Largest movements
- Receivables within one year -€69,436
down €69,436 (-30.2%), from €229,909 to €160,473
of which Trade receivables: -€78,298
- Cash -€16,737
down €16,737 (-56.3%), from €29,740 to €13,003
mainly Net result for the year (-€73,121) and Trade debts (-€45,648)
- Tangible fixed assets -€14,638
down €14,638 (-66.6%), from €21,988 to €7,350
of which Furniture and vehicles: -€14,426
- Deferred charges and accrued income -€4,353
down €4,353 (-89.0%), from €4,893 to €539
- Profit (loss) carried forward -€73,121
down €73,121 (-69.7%), from -€104,875 to -€177,995
- Trade debts -€45,648
down €45,648 (-19.5%), from €233,817 to €188,170
- Tax, wage and social debts +€18,408
up €18,408 (+27.1%), from €68,046 to €86,454
of which Taxes: +€14,826
- Debts after one year -€11,288
down €11,288 (-21.6%), from €52,249 to €40,961
- Other debts +€8,193
up €8,193 (+121.2%), from €6,760 to €14,953
- Turnover -€713,688
no longer reported in 2024 (was €713,688)
- Purchases and services -€512,554
no longer reported in 2024 (was €512,554)
- Gross operating margin -€151,909
down €151,909 (-65.2%), from €233,110 to €81,201
- Staff costs -€96,093
down €96,093 (-43.5%), from €220,911 to €124,817
- Other operating charges +€9,950
up €9,950 (+287.4%), from €3,462 to €13,412
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €317,124 | €212,071 | -€105,053 | -33.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €22,549 | €7,911 | -€14,638 | -64.9% |
| Tangible fixed assets | 22/27 | €21,988 | €7,350 | -€14,638 | -66.6% |
| Plant, machinery and equipment | 23 | €937 | €724 | -€212 | -22.7% |
| Furniture and vehicles | 24 | €21,051 | €6,625 | -€14,426 | -68.5% |
| Financial fixed assets | 28 | €561 | €561 | = | 0.0% |
| Current assets | 29/58 | €294,575 | €204,160 | -€90,415 | -30.7% |
| Amounts receivable within one year | 40/41 | €229,909 | €160,473 | -€69,436 | -30.2% |
| Trade receivables | 40 | €229,189 | €150,891 | -€78,298 | -34.2% |
| Other amounts receivable | 41 | €720 | €9,582 | +€8,862 | +1230.9% |
| Current investments | 50/53 | €30,033 | €30,145 | +€112 | +0.4% |
| Cash at bank and in hand | 54/58 | €29,740 | €13,003 | -€16,737 | -56.3% |
| Deferred charges and accrued income | 490/1 | €4,893 | €539 | -€4,353 | -89.0% |
| Total equity and liabilities | 10/49 | €317,124 | €212,071 | -€105,053 | -33.1% |
| Equity | 10/15 | -€56,815 | -€129,935 | -€73,121 | -128.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €41,860 | €41,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €40,000 | €41,860 | +€1,860 | +4.7% |
| Profit (loss) carried forward | 14 | -€104,875 | -€177,995 | -€73,121 | -69.7% |
| Amounts payable | 17/49 | €373,939 | €342,006 | -€31,932 | -8.5% |
| Amounts payable after more than one year | 17 | €52,249 | €40,961 | -€11,288 | -21.6% |
| Financial debts | 170/4 | €52,249 | €40,961 | -€11,288 | -21.6% |
| Amounts payable within one year | 42/48 | €321,690 | €300,865 | -€20,825 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €13,066 | €11,288 | -€1,778 | -13.6% |
| Trade debts | 44 | €233,817 | €188,170 | -€45,648 | -19.5% |
| Suppliers | 440/4 | €233,817 | €188,170 | -€45,648 | -19.5% |
| Taxes, remuneration and social security | 45 | €68,046 | €86,454 | +€18,408 | +27.1% |
| Taxes | 450/3 | €27,358 | €42,183 | +€14,826 | +54.2% |
| Remuneration and social security | 454/9 | €40,688 | €44,270 | +€3,582 | +8.8% |
| Other amounts payable | 47/48 | €6,760 | €14,953 | +€8,193 | +121.2% |
| Accrued charges and deferred income | 492/3 | - | €181 | +€181 | |
| Turnover | 70 | €713,688 | - | -€713,688 | |
| Non-recurring operating income | 76A | €3,306 | €6,639 | +€3,333 | +100.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €512,554 | - | -€512,554 | |
| Remuneration, social security and pensions | 62 | €220,911 | €124,817 | -€96,093 | -43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,676 | €6,229 | -€6,447 | -50.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,477 | - | -€4,477 | |
| Other operating charges | 640/8 | €3,462 | €13,412 | +€9,950 | +287.4% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Gross operating margin | 9900 | €233,110 | €81,201 | -€151,909 | -65.2% |
| Operating profit (loss) | 9901 | -€8,415 | -€63,258 | -€54,842 | -651.7% |
| Financial income | 75/76B | €811 | €353 | -€457 | -56.4% |
| Recurring financial income | 75 | €811 | €353 | -€457 | -56.4% |
| Financial charges | 65/66B | €8,825 | €9,982 | +€1,157 | +13.1% |
| Recurring financial charges | 65 | €8,825 | €9,982 | +€1,157 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,430 | -€72,886 | -€56,456 | -343.6% |
| Income taxes | 67/77 | €250 | €234 | -€16 | -6.2% |
| Profit (loss) for the period | 9904 | -€16,680 | -€73,121 | -€56,441 | -338.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,680 | -€73,121 | -€56,441 | -338.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.