PROPER 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.
PROPER CONSTRUCT
Largest movements
- Receivables within one year +€27,638
up €27,638 (+74.6%), from €37,028 to €64,666
of which Trade receivables: +€25,658
- Cash -€21,688
down €21,688 (-68.1%), from €31,855 to €10,168
mainly Receivables within one year (-€27,638) and Contributions, distributions and other (-€25,000)
- Tangible fixed assets -€13,294
down €13,294 (-29.9%), from €44,529 to €31,235
of which Furniture and vehicles: -€11,263
- Deferred charges and accrued income +€7,974
up €7,974 (+703.0%), from €1,134 to €9,108
- Reserves -€36,716
down €36,716 (-60.2%), from €60,998 to €24,282
- Other debts +€25,000
up €25,000, from €0 to €25,000
- Trade debts +€15,873
up €15,873 (+165.4%), from €9,596 to €25,468
- Debts after one year -€8,292
down €8,292 (-35.3%), from €23,468 to €15,176
- Tax, wage and social debts +€3,870
up €3,870 (+34.5%), from €11,229 to €15,100
of which Taxes: +€3,635
- Gross operating margin -€62,102
down €62,102 (-96.0%), from €64,723 to €2,620
- Taxes -€11,097
down €11,097 (-98.8%), from €11,229 to €132
- Depreciation +€4,344
up €4,344 (+48.5%), from €8,950 to €13,294
- Financial income -€734
down €734 (-35.2%), from €2,085 to €1,352
- Other operating charges -€692
down €692 (-53.2%), from €1,300 to €608
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 | €114,547 | €115,176 | +€630 | +0.5% |
| Fixed assets | 21/28 | €44,529 | €31,235 | -€13,294 | -29.9% |
| Tangible fixed assets | 22/27 | €44,529 | €31,235 | -€13,294 | -29.9% |
| Plant, machinery and equipment | 23 | €5,498 | €3,467 | -€2,031 | -36.9% |
| Furniture and vehicles | 24 | €39,031 | €27,768 | -€11,263 | -28.9% |
| Current assets | 29/58 | €70,017 | €83,941 | +€13,924 | +19.9% |
| Amounts receivable within one year | 40/41 | €37,028 | €64,666 | +€27,638 | +74.6% |
| Trade receivables | 40 | €10,432 | €36,090 | +€25,658 | +245.9% |
| Other amounts receivable | 41 | €26,596 | €28,575 | +€1,980 | +7.4% |
| Cash at bank and in hand | 54/58 | €31,855 | €10,168 | -€21,688 | -68.1% |
| Deferred charges and accrued income | 490/1 | €1,134 | €9,108 | +€7,974 | +703.0% |
| Total equity and liabilities | 10/49 | €114,547 | €115,176 | +€630 | +0.5% |
| Equity | 10/15 | €62,198 | €25,482 | -€36,716 | -59.0% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €60,998 | €24,282 | -€36,716 | -60.2% |
| Distributable reserves | 133 | €60,998 | €24,282 | -€36,716 | -60.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,349 | €89,695 | +€37,346 | +71.3% |
| Amounts payable after more than one year | 17 | €23,468 | €15,176 | -€8,292 | -35.3% |
| Financial debts | 170/4 | €23,468 | €15,176 | -€8,292 | -35.3% |
| Amounts payable within one year | 42/48 | €28,759 | €73,860 | +€45,101 | +156.8% |
| Current portion of amounts payable after more than one year | 42 | €7,934 | €8,292 | +€358 | +4.5% |
| Trade debts | 44 | €9,596 | €25,468 | +€15,873 | +165.4% |
| Suppliers | 440/4 | €9,596 | €25,468 | +€15,873 | +165.4% |
| Taxes, remuneration and social security | 45 | €11,229 | €15,100 | +€3,870 | +34.5% |
| Taxes | 450/3 | €11,229 | €14,864 | +€3,635 | +32.4% |
| Remuneration and social security | 454/9 | - | €235 | +€235 | |
| Other amounts payable | 47/48 | €0 | €25,000 | +€25,000 | |
| Accrued charges and deferred income | 492/3 | €122 | €659 | +€537 | +439.6% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,950 | €13,294 | +€4,344 | +48.5% |
| Other operating charges | 640/8 | €1,300 | €608 | -€692 | -53.2% |
| Gross operating margin | 9900 | €64,723 | €2,620 | -€62,102 | -96.0% |
| Operating profit (loss) | 9901 | €54,473 | -€11,282 | -€65,755 | |
| Financial income | 75/76B | €2,085 | €1,352 | -€734 | -35.2% |
| Recurring financial income | 75 | €2,085 | €1,352 | -€734 | -35.2% |
| Financial charges | 65/66B | €2,162 | €1,654 | -€508 | -23.5% |
| Recurring financial charges | 65 | €2,162 | €1,654 | -€508 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €54,396 | -€11,584 | -€65,980 | |
| Income taxes | 67/77 | €11,229 | €132 | -€11,097 | -98.8% |
| Profit (loss) for the period | 9904 | €43,166 | -€11,716 | -€54,882 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,166 | -€11,716 | -€54,882 |
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 11 October 2026 via checked.be.