P&D 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.
P&D Construct
Largest movements
- Tangible fixed assets +€14,673
new in 2025: €14,673
of which Assets under construction and advance payments: +€7,776
- Receivables within one year -€7,459
down €7,459 (-58.6%), from €12,719 to €5,260
of which Trade receivables: -€4,383
- Cash +€1,776
up €1,776 (+146.3%), from €1,214 to €2,990
mainly Other debts (+€9,849) and Receivables within one year (+€7,459)
- Deferred charges and accrued income -€1,044
no longer reported in 2025 (was €1,044)
- Other debts +€9,849
up €9,849 (+246.2%), from €4,000 to €13,849
- Trade debts +€7,192
up €7,192 (+168.0%), from €4,281 to €11,473
- Advances received -€5,059
no longer reported in 2025 (was €5,059)
- Tax, wage and social debts -€2,563
down €2,563 (-33.3%), from €7,705 to €5,142
of which Remuneration and social security: -€4,807
- Profit (loss) carried forward -€1,474
down €1,474 (-16.5%), from -€8,919 to -€10,392
- Gross operating margin +€10,160
up €10,160, from -€8,701 to €1,459
- Financial charges +€1,286
up €1,286 (+3879.6%), from €33 to €1,320
- Depreciation +€816
new in 2025: €816
- Other operating charges +€351
up €351 (+128.9%), from €272 to €622
- Taxes +€168
up €168 (+2329.0%), from €7 to €175
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 | €15,127 | €23,073 | +€7,946 | +52.5% |
| Fixed assets | 21/28 | €150 | €14,823 | +€14,673 | +9781.9% |
| Tangible fixed assets | 22/27 | - | €14,673 | +€14,673 | |
| Plant, machinery and equipment | 23 | - | €2,444 | +€2,444 | |
| Furniture and vehicles | 24 | - | €4,453 | +€4,453 | |
| Assets under construction and advance payments | 27 | - | €7,776 | +€7,776 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €14,977 | €8,250 | -€6,727 | -44.9% |
| Amounts receivable within one year | 40/41 | €12,719 | €5,260 | -€7,459 | -58.6% |
| Trade receivables | 40 | €9,610 | €5,227 | -€4,383 | -45.6% |
| Other amounts receivable | 41 | €3,109 | €33 | -€3,076 | -98.9% |
| Cash at bank and in hand | 54/58 | €1,214 | €2,990 | +€1,776 | +146.3% |
| Deferred charges and accrued income | 490/1 | €1,044 | - | -€1,044 | |
| Total equity and liabilities | 10/49 | €15,127 | €23,073 | +€7,946 | +52.5% |
| Equity | 10/15 | -€5,919 | -€7,392 | -€1,474 | -24.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,919 | -€10,392 | -€1,474 | -16.5% |
| Amounts payable | 17/49 | €21,046 | €30,465 | +€9,419 | +44.8% |
| Amounts payable within one year | 42/48 | €21,046 | €30,465 | +€9,419 | +44.8% |
| Trade debts | 44 | €4,281 | €11,473 | +€7,192 | +168.0% |
| Suppliers | 440/4 | €4,281 | €11,473 | +€7,192 | +168.0% |
| Advances received on contracts in progress | 46 | €5,059 | - | -€5,059 | |
| Taxes, remuneration and social security | 45 | €7,705 | €5,142 | -€2,563 | -33.3% |
| Taxes | 450/3 | €2,898 | €5,142 | +€2,244 | +77.4% |
| Remuneration and social security | 454/9 | €4,807 | - | -€4,807 | |
| Other amounts payable | 47/48 | €4,000 | €13,849 | +€9,849 | +246.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €816 | +€816 | |
| Other operating charges | 640/8 | €272 | €622 | +€351 | +128.9% |
| Gross operating margin | 9900 | -€8,701 | €1,459 | +€10,160 | |
| Operating profit (loss) | 9901 | -€8,973 | €21 | +€8,994 | |
| Financial income | 75/76B | €94 | €0 | -€94 | -100.0% |
| Recurring financial income | 75 | €94 | €0 | -€94 | -100.0% |
| Financial charges | 65/66B | €33 | €1,320 | +€1,286 | +3879.6% |
| Recurring financial charges | 65 | €33 | €1,320 | +€1,286 | +3879.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,912 | -€1,299 | +€7,613 | +85.4% |
| Income taxes | 67/77 | €7 | €175 | +€168 | +2329.0% |
| Profit (loss) for the period | 9904 | -€8,919 | -€1,474 | +€7,445 | +83.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,919 | -€1,474 | +€7,445 | +83.5% |
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.