PDW 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.
PDW Construct
Largest movements
- Stocks and contracts -€428,326
down €428,326 (-63.7%), from €672,169 to €243,843
of which Stocks: -€221,326
- Current investments +€400,000
new in 2025: €400,000
- Cash +€63,521
up €63,521 (+3,447%), from €1,843 to €65,364
mainly Stocks and contracts (+€428,326) and Other debts (+€15,944)
- Other debts +€15,944
up €15,944 (+2.5%), from €632,537 to €648,481
- Trade debts +€13,189
up €13,189 (+98.2%), from €13,438 to €26,627
- Gross operating margin +€4,344
up €4,344 (+246%), from €1,763 to €6,107
- Taxes +€1,721
up €1,721 (+1,286%), from €134 to €1,855
- Other operating charges -€1,545
no longer reported in 2025 (was €1,545)
- Financial income -€114
no longer reported in 2025 (was €114)
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.
Derived cash bridge
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 | €674,012 | €709,207 | +€35,195 | +5.2% |
| Current assets | 29/58 | €674,012 | €709,207 | +€35,195 | +5.2% |
| Stocks and contracts in progress | 3 | €672,169 | €243,843 | -€428,326 | -63.7% |
| Stocks | 30/36 | €346,169 | €124,843 | -€221,326 | -63.9% |
| Contracts in progress | 37 | €326,000 | €119,000 | -€207,000 | -63.5% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €1,843 | €65,364 | +€63,521 | +3,447% |
| Total equity and liabilities | 10/49 | €674,012 | €709,207 | +€35,195 | +5.2% |
| Equity | 10/15 | €27,872 | €32,079 | +€4,207 | +15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,272 | €13,479 | +€4,207 | +45.4% |
| Distributable reserves | 133 | €9,272 | €13,479 | +€4,207 | +45.4% |
| Amounts payable | 17/49 | €646,140 | €677,128 | +€30,989 | +4.8% |
| Amounts payable within one year | 42/48 | €646,140 | €677,128 | +€30,989 | +4.8% |
| Trade debts | 44 | €13,438 | €26,627 | +€13,189 | +98.2% |
| Suppliers | 440/4 | €13,438 | €26,627 | +€13,189 | +98.2% |
| Taxes, remuneration and social security | 45 | €166 | €2,021 | +€1,855 | +1,120% |
| Taxes | 450/3 | €166 | €2,021 | +€1,855 | +1,120% |
| Other amounts payable | 47/48 | €632,537 | €648,481 | +€15,944 | +2.5% |
| Other operating charges | 640/8 | €1,545 | - | -€1,545 | |
| Gross operating margin | 9900 | €1,763 | €6,107 | +€4,344 | +246% |
| Operating profit (loss) | 9901 | €217 | €6,107 | +€5,889 | +2,711% |
| Financial income | 75/76B | €114 | - | -€114 | |
| Recurring financial income | 75 | €114 | - | -€114 | |
| Financial charges | 65/66B | €40 | €45 | +€5 | +11.8% |
| Recurring financial charges | 65 | €40 | €45 | +€5 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €291 | €6,062 | +€5,771 | +1,985% |
| Income taxes | 67/77 | €134 | €1,855 | +€1,721 | +1,286% |
| Profit (loss) for the period | 9904 | €157 | €4,207 | +€4,050 | +2,582% |
| Profit (loss) for the period to be appropriated | 9905 | €157 | €4,207 | +€4,050 | +2,582% |
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 13 October 2026 via checked.be.