QASEM 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.
QASEM CONSTRUCTION
Largest movements
- Receivables within one year +€37,897
up €37,897 (+115%), from €33,059 to €70,956
of which Other amounts receivable: +€21,688
- Tangible fixed assets +€14,151
up €14,151 (+17.7%), from €79,807 to €93,958
of which Plant, machinery and equipment: +€22,126
- Reserves +€86,500
up €86,500 (+25.6%), from €337,860 to €424,360
- Other debts -€48,298
down €48,298 (-26.0%), from €185,429 to €137,131
- Gross operating margin +€115,065
up €115,065 (+36.8%), from €312,721 to €427,786
- Taxes +€31,318
up €31,318 (+85.2%), from €36,737 to €68,054
- Staff costs +€24,763
up €24,763 (+15.9%), from €155,901 to €180,664
- Depreciation -€8,733
down €8,733 (-27.3%), from €32,044 to €23,311
- Financial income +€6,606
up €6,606 (+210%), from €3,141 to €9,748
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 | €1,037,147 | €1,080,024 | +€42,877 | +4.1% |
| Fixed assets | 21/28 | €79,807 | €93,958 | +€14,151 | +17.7% |
| Tangible fixed assets | 22/27 | €79,807 | €93,958 | +€14,151 | +17.7% |
| Land and buildings | 22 | €61,757 | €55,144 | -€6,613 | -10.7% |
| Plant, machinery and equipment | 23 | €14,554 | €36,680 | +€22,126 | +152% |
| Furniture and vehicles | 24 | €3,496 | €2,133 | -€1,363 | -39.0% |
| Current assets | 29/58 | €957,341 | €986,067 | +€28,726 | +3.0% |
| Amounts receivable within one year | 40/41 | €33,059 | €70,956 | +€37,897 | +115% |
| Trade receivables | 40 | €24,202 | €40,410 | +€16,209 | +67.0% |
| Other amounts receivable | 41 | €8,858 | €30,546 | +€21,688 | +245% |
| Cash at bank and in hand | 54/58 | €916,824 | €908,599 | -€8,225 | -0.9% |
| Deferred charges and accrued income | 490/1 | €7,457 | €6,512 | -€946 | -12.7% |
| Total equity and liabilities | 10/49 | €1,037,147 | €1,080,024 | +€42,877 | +4.1% |
| Equity | 10/15 | €826,959 | €913,699 | +€86,740 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €337,860 | €424,360 | +€86,500 | +25.6% |
| Distributable reserves | 133 | €337,860 | €424,360 | +€86,500 | +25.6% |
| Profit (loss) carried forward | 14 | €470,499 | €470,739 | +€240 | +0.1% |
| Amounts payable | 17/49 | €210,189 | €166,325 | -€43,863 | -20.9% |
| Amounts payable within one year | 42/48 | €206,522 | €159,655 | -€46,867 | -22.7% |
| Trade debts | 44 | €11,926 | €13,709 | +€1,784 | +15.0% |
| Suppliers | 440/4 | €11,926 | €13,709 | +€1,784 | +15.0% |
| Taxes, remuneration and social security | 45 | €9,167 | €8,815 | -€352 | -3.8% |
| Taxes | 450/3 | €3,735 | €8,815 | +€5,079 | +136% |
| Remuneration and social security | 454/9 | €5,432 | - | -€5,432 | |
| Other amounts payable | 47/48 | €185,429 | €137,131 | -€48,298 | -26.0% |
| Accrued charges and deferred income | 492/3 | €3,667 | €6,671 | +€3,003 | +81.9% |
| Remuneration, social security and pensions | 62 | €155,901 | €180,664 | +€24,763 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,044 | €23,311 | -€8,733 | -27.3% |
| Other operating charges | 640/8 | €12,644 | €10,755 | -€1,888 | -14.9% |
| Gross operating margin | 9900 | €312,721 | €427,786 | +€115,065 | +36.8% |
| Operating profit (loss) | 9901 | €112,132 | €213,055 | +€100,923 | +90.0% |
| Financial income | 75/76B | €3,141 | €9,748 | +€6,606 | +210% |
| Recurring financial income | 75 | €3,141 | €9,748 | +€6,606 | +210% |
| Financial charges | 65/66B | €4,057 | €8,008 | +€3,951 | +97.4% |
| Recurring financial charges | 65 | €4,057 | €8,008 | +€3,951 | +97.4% |
| Profit (loss) for the period before taxes | 9903 | €111,216 | €214,795 | +€103,579 | +93.1% |
| Income taxes | 67/77 | €36,737 | €68,054 | +€31,318 | +85.2% |
| Profit (loss) for the period | 9904 | €74,479 | €146,740 | +€72,261 | +97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €74,479 | €146,740 | +€72,261 | +97.0% |
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 24 October 2026 via checked.be.