SD-TRACONSTRUCT: what changed
Two fiscal 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.
SD-TRACONSTRUCT
Largest movements
- Receivables within one year -€32,353
down €32,353 (-49.5%), from €65,378 to €33,025
of which Trade receivables: -€25,187
- Receivables after one year -€18,700
no longer reported in 2025 (was €18,700)
- Cash +€18,511
new in 2025: €18,511
mainly Depreciation (+€46,512) and Net result for the year (+€35,267)
- Tangible fixed assets +€4,243
up €4,243 (+4.8%), from €89,281 to €93,524
of which Leasing and similar rights: +€3,261
- Deferred charges and accrued income -€2,965
down €2,965 (-49.0%), from €6,045 to €3,080
- Debts after one year -€30,275
down €30,275 (-48.5%), from €62,361 to €32,087
- Short-term financial debts -€19,700
no longer reported in 2025 (was €19,700)
- Current portion of long-term debt +€15,561
up €15,561 (+37.3%), from €41,720 to €57,281
- Trade debts -€6,675
down €6,675 (-32.7%), from €20,413 to €13,738
- Tax, wage and social debts +€6,375
up €6,375 (+126.0%), from €5,060 to €11,435
of which Taxes: +€8,375
- Gross operating margin +€29,912
up €29,912 (+45.0%), from €66,447 to €96,359
- Depreciation +€5,439
up €5,439 (+13.2%), from €41,073 to €46,512
- Taxes +€4,927
new in 2025: €4,927
- Financial income -€1,088
no longer reported in 2025 (was €1,088)
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 | €179,404 | €148,141 | -€31,264 | -17.4% |
| Fixed assets | 21/28 | €89,281 | €93,524 | +€4,243 | +4.8% |
| Tangible fixed assets | 22/27 | €89,281 | €93,524 | +€4,243 | +4.8% |
| Plant, machinery and equipment | 23 | €1,423 | €576 | -€847 | -59.5% |
| Furniture and vehicles | 24 | €744 | €1,318 | +€574 | +77.2% |
| Leasing and similar rights | 25 | €87,114 | €90,376 | +€3,261 | +3.7% |
| Assets under construction and advance payments | 27 | - | €1,255 | +€1,255 | |
| Current assets | 29/58 | €90,123 | €54,616 | -€35,507 | -39.4% |
| Amounts receivable after more than one year | 29 | €18,700 | - | -€18,700 | |
| Other amounts receivable | 291 | €18,700 | - | -€18,700 | |
| Amounts receivable within one year | 40/41 | €65,378 | €33,025 | -€32,353 | -49.5% |
| Trade receivables | 40 | €52,252 | €27,065 | -€25,187 | -48.2% |
| Other amounts receivable | 41 | €13,126 | €5,960 | -€7,166 | -54.6% |
| Cash at bank and in hand | 54/58 | - | €18,511 | +€18,511 | |
| Deferred charges and accrued income | 490/1 | €6,045 | €3,080 | -€2,965 | -49.0% |
| Total equity and liabilities | 10/49 | €179,404 | €148,141 | -€31,264 | -17.4% |
| Equity | 10/15 | €29,710 | €32,977 | +€3,267 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,110 | €14,377 | +€3,267 | +29.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,250 | €12,517 | +€3,267 | +35.3% |
| Amounts payable | 17/49 | €149,694 | €115,163 | -€34,531 | -23.1% |
| Amounts payable after more than one year | 17 | €62,361 | €32,087 | -€30,275 | -48.5% |
| Financial debts | 170/4 | €62,361 | €32,087 | -€30,275 | -48.5% |
| Amounts payable within one year | 42/48 | €86,893 | €83,077 | -€3,816 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €41,720 | €57,281 | +€15,561 | +37.3% |
| Financial debts | 43 | €19,700 | - | -€19,700 | |
| Credit institutions | 430/8 | €19,700 | - | -€19,700 | |
| Trade debts | 44 | €20,413 | €13,738 | -€6,675 | -32.7% |
| Suppliers | 440/4 | €20,413 | €13,738 | -€6,675 | -32.7% |
| Taxes, remuneration and social security | 45 | €5,060 | €11,435 | +€6,375 | +126.0% |
| Taxes | 450/3 | €3,060 | €11,435 | +€8,375 | +273.7% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | - | €623 | +€623 | |
| Accrued charges and deferred income | 492/3 | €440 | - | -€440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,073 | €46,512 | +€5,439 | +13.2% |
| Other operating charges | 640/8 | €1,109 | €1,326 | +€217 | +19.6% |
| Non-recurring operating charges | 66A | €5,250 | - | -€5,250 | |
| Gross operating margin | 9900 | €66,447 | €96,359 | +€29,912 | +45.0% |
| Operating profit (loss) | 9901 | €19,016 | €48,522 | +€29,507 | +155.2% |
| Financial income | 75/76B | €1,088 | - | -€1,088 | |
| Recurring financial income | 75 | €1,088 | - | -€1,088 | |
| Financial charges | 65/66B | €9,036 | €8,329 | -€708 | -7.8% |
| Recurring financial charges | 65 | €9,036 | €8,329 | -€708 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €11,067 | €40,194 | +€29,127 | +263.2% |
| Income taxes | 67/77 | - | €4,927 | +€4,927 | |
| Profit (loss) for the period | 9904 | €11,067 | €35,267 | +€24,200 | +218.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,067 | €35,267 | +€24,200 | +218.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.