PUBLIC 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.
PUBLIC CONSTRUCT
Largest movements
- Receivables within one year -€267,621
down €267,621 (-69.4%), from €385,885 to €118,263
of which Trade receivables: -€289,618
- Stocks and contracts +€80,000
up €80,000, from €0 to €80,000
of which Contracts in progress: +€80,000
- Cash +€68,997
up €68,997 (+104.7%), from €65,928 to €134,925
mainly Receivables within one year (+€267,621) and Net result for the year (+€108,635)
- Tangible fixed assets -€19,101
down €19,101 (-7.0%), from €273,000 to €253,900
- Profit (loss) carried forward +€108,635
up €108,635 (+256.6%), from €42,330 to €150,965
- Short-term financial debts -€100,032
down €100,032 (-100.0%), from €100,070 to €37
- Trade debts -€72,296
down €72,296 (-57.6%), from €125,434 to €53,138
- Tax, wage and social debts -€39,809
down €39,809 (-80.0%), from €49,759 to €9,951
of which Taxes: -€42,803
- Debts after one year -€28,932
down €28,932 (-42.1%), from €68,693 to €39,761
- Gross operating margin -€91,968
down €91,968 (-23.1%), from €398,491 to €306,523
- Taxes -€44,927
down €44,927 (-54.6%), from €82,241 to €37,314
- Depreciation +€13,061
up €13,061 (+20.4%), from €63,896 to €76,957
- Staff costs +€4,886
up €4,886 (+7.2%), from €67,705 to €72,591
- Financial charges -€4,026
down €4,026 (-24.4%), from €16,521 to €12,494
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 | €728,186 | €590,218 | -€137,968 | -18.9% |
| Fixed assets | 21/28 | €276,374 | €257,030 | -€19,344 | -7.0% |
| Intangible fixed assets | 21 | €670 | €427 | -€243 | -36.3% |
| Tangible fixed assets | 22/27 | €273,000 | €253,900 | -€19,101 | -7.0% |
| Land and buildings | 22 | €55,071 | €52,222 | -€2,849 | -5.2% |
| Plant, machinery and equipment | 23 | €81,146 | €78,402 | -€2,744 | -3.4% |
| Furniture and vehicles | 24 | €132,585 | €123,276 | -€9,309 | -7.0% |
| Leasing and similar rights | 25 | €4,199 | €0 | -€4,199 | -100.0% |
| Financial fixed assets | 28 | €2,703 | €2,703 | = | 0.0% |
| Current assets | 29/58 | €451,813 | €333,188 | -€118,624 | -26.3% |
| Stocks and contracts in progress | 3 | €0 | €80,000 | +€80,000 | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | - | €80,000 | +€80,000 | |
| Amounts receivable within one year | 40/41 | €385,885 | €118,263 | -€267,621 | -69.4% |
| Trade receivables | 40 | €299,999 | €10,382 | -€289,618 | -96.5% |
| Other amounts receivable | 41 | €85,885 | €107,882 | +€21,996 | +25.6% |
| Cash at bank and in hand | 54/58 | €65,928 | €134,925 | +€68,997 | +104.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €728,186 | €590,218 | -€137,968 | -18.9% |
| Equity | 10/15 | €349,765 | €458,400 | +€108,635 | +31.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €245,935 | €245,935 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €239,785 | €239,785 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,330 | €150,965 | +€108,635 | +256.6% |
| Amounts payable | 17/49 | €378,421 | €131,818 | -€246,603 | -65.2% |
| Amounts payable after more than one year | 17 | €68,693 | €39,761 | -€28,932 | -42.1% |
| Financial debts | 170/4 | €68,693 | €39,761 | -€28,932 | -42.1% |
| Amounts payable within one year | 42/48 | €309,729 | €92,057 | -€217,672 | -70.3% |
| Current portion of amounts payable after more than one year | 42 | €34,466 | €28,932 | -€5,535 | -16.1% |
| Financial debts | 43 | €100,070 | €37 | -€100,032 | -100.0% |
| Credit institutions | 430/8 | €100,070 | €37 | -€100,032 | -100.0% |
| Trade debts | 44 | €125,434 | €53,138 | -€72,296 | -57.6% |
| Suppliers | 440/4 | €125,434 | €53,138 | -€72,296 | -57.6% |
| Taxes, remuneration and social security | 45 | €49,759 | €9,951 | -€39,809 | -80.0% |
| Taxes | 450/3 | €43,046 | €243 | -€42,803 | -99.4% |
| Remuneration and social security | 454/9 | €6,713 | €9,708 | +€2,995 | +44.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,000 | €12,529 | +€529 | +4.4% |
| Remuneration, social security and pensions | 62 | €67,705 | €72,591 | +€4,886 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,896 | €76,957 | +€13,061 | +20.4% |
| Other operating charges | 640/8 | €5,300 | €3,810 | -€1,490 | -28.1% |
| Gross operating margin | 9900 | €398,491 | €306,523 | -€91,968 | -23.1% |
| Operating profit (loss) | 9901 | €261,590 | €153,166 | -€108,424 | -41.4% |
| Financial income | 75/76B | €6,147 | €5,278 | -€869 | -14.1% |
| Recurring financial income | 75 | €6,147 | €5,278 | -€869 | -14.1% |
| Financial charges | 65/66B | €16,521 | €12,494 | -€4,026 | -24.4% |
| Recurring financial charges | 65 | €16,521 | €12,494 | -€4,026 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €251,217 | €145,950 | -€105,267 | -41.9% |
| Income taxes | 67/77 | €82,241 | €37,314 | -€44,927 | -54.6% |
| Profit (loss) for the period | 9904 | €168,976 | €108,635 | -€60,340 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €168,976 | €108,635 | -€60,340 | -35.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.