PJ Construction: 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.
PJ Construction
Largest movements
- Cash -€67,844
down €67,844 (-30.5%), from €222,190 to €154,346
mainly Investment in fixed assets (net) (-€83,131) and Stocks and contracts (-€35,096)
- Tangible fixed assets +€58,965
up €58,965 (+48.9%), from €120,471 to €179,436
of which Land and buildings: +€60,162
- Stocks and contracts +€35,096
up €35,096 (+49.2%), from €71,400 to €106,496
- Receivables within one year -€13,384
down €13,384 (-22.2%), from €60,245 to €46,861
of which Trade receivables: -€7,843
- Profit (loss) carried forward +€33,223
up €33,223 (+23.6%), from €140,561 to €173,784
- Debts after one year -€11,562
down €11,562 (-11.7%), from €99,116 to €87,555
- Trade debts +€7,082
up €7,082 (+39.6%), from €17,901 to €24,983
- Reserves -€7,054
down €7,054 (-5.4%), from €131,603 to €124,549
of which Tax-exempt reserves: -€7,054
- Tax, wage and social debts -€6,259
down €6,259 (-86.1%), from €7,271 to €1,012
of which Taxes: -€4,659
- Depreciation +€2,662
up €2,662 (+12.4%), from €21,504 to €24,166
- Gross operating margin +€2,475
up €2,475 (+3.9%), from €62,767 to €65,242
- Taxes -€1,677
down €1,677 (-16.1%), from €10,436 to €8,759
- Staff costs +€702
up €702, from -€638 to €64
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 | €474,728 | €487,376 | +€12,648 | +2.7% |
| Fixed assets | 21/28 | €120,471 | €179,436 | +€58,965 | +48.9% |
| Tangible fixed assets | 22/27 | €120,471 | €179,436 | +€58,965 | +48.9% |
| Land and buildings | 22 | €69,849 | €130,011 | +€60,162 | +86.1% |
| Plant, machinery and equipment | 23 | €11,346 | €18,280 | +€6,934 | +61.1% |
| Furniture and vehicles | 24 | €39,277 | €31,145 | -€8,132 | -20.7% |
| Current assets | 29/58 | €354,256 | €307,940 | -€46,317 | -13.1% |
| Stocks and contracts in progress | 3 | €71,400 | €106,496 | +€35,096 | +49.2% |
| Stocks | 30/36 | €71,400 | €106,496 | +€35,096 | +49.2% |
| Amounts receivable within one year | 40/41 | €60,245 | €46,861 | -€13,384 | -22.2% |
| Trade receivables | 40 | €45,376 | €37,533 | -€7,843 | -17.3% |
| Other amounts receivable | 41 | €14,869 | €9,328 | -€5,541 | -37.3% |
| Cash at bank and in hand | 54/58 | €222,190 | €154,346 | -€67,844 | -30.5% |
| Deferred charges and accrued income | 490/1 | €422 | €237 | -€185 | -43.8% |
| Total equity and liabilities | 10/49 | €474,728 | €487,376 | +€12,648 | +2.7% |
| Equity | 10/15 | €290,764 | €316,934 | +€26,170 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,603 | €124,549 | -€7,054 | -5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €90,843 | €83,789 | -€7,054 | -7.8% |
| Distributable reserves | 133 | €38,900 | €38,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,561 | €173,784 | +€33,223 | +23.6% |
| Provisions and deferred taxes | 16 | €22,711 | €20,947 | -€1,763 | -7.8% |
| Deferred taxes | 168 | €22,711 | €20,947 | -€1,763 | -7.8% |
| Amounts payable | 17/49 | €161,253 | €149,495 | -€11,758 | -7.3% |
| Amounts payable after more than one year | 17 | €99,116 | €87,555 | -€11,562 | -11.7% |
| Financial debts | 170/4 | €99,116 | €87,555 | -€11,562 | -11.7% |
| Amounts payable within one year | 42/48 | €62,136 | €61,940 | -€196 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €11,679 | €11,891 | +€212 | +1.8% |
| Trade debts | 44 | €17,901 | €24,983 | +€7,082 | +39.6% |
| Suppliers | 440/4 | €17,901 | €24,983 | +€7,082 | +39.6% |
| Taxes, remuneration and social security | 45 | €7,271 | €1,012 | -€6,259 | -86.1% |
| Taxes | 450/3 | €5,171 | €512 | -€4,659 | -90.1% |
| Remuneration and social security | 454/9 | €2,100 | €500 | -€1,600 | -76.2% |
| Other amounts payable | 47/48 | €25,285 | €24,054 | -€1,231 | -4.9% |
| Remuneration, social security and pensions | 62 | -€638 | €64 | +€702 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,504 | €24,166 | +€2,662 | +12.4% |
| Other operating charges | 640/8 | €1,851 | €2,375 | +€523 | +28.3% |
| Gross operating margin | 9900 | €62,767 | €65,242 | +€2,475 | +3.9% |
| Operating profit (loss) | 9901 | €40,050 | €38,638 | -€1,413 | -3.5% |
| Financial income | 75/76B | €0 | €41 | +€41 | +136,733% |
| Recurring financial income | 75 | €0 | €41 | +€41 | +136,733% |
| Financial charges | 65/66B | €5,497 | €5,514 | +€16 | +0.3% |
| Recurring financial charges | 65 | €5,497 | €5,514 | +€16 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €34,553 | €33,165 | -€1,388 | -4.0% |
| Transfer from deferred taxes | 780 | €966 | €1,763 | +€798 | +82.6% |
| Income taxes | 67/77 | €10,436 | €8,759 | -€1,677 | -16.1% |
| Profit (loss) for the period | 9904 | €25,083 | €26,170 | +€1,087 | +4.3% |
| Transfer from tax-exempt reserves | 789 | €3,862 | €7,054 | +€3,191 | +82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,945 | €33,223 | +€4,278 | +14.8% |
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 20 October 2026 via checked.be.