SP 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.
SP Construct
Largest movements
- Cash +€13,251
up €13,251 (+93.6%), from €14,164 to €27,416
mainly Trade debts (+€19,006) and Deferred charges and accrued income (+€6,079)
- Deferred charges and accrued income -€6,079
down €6,079 (-63.6%), from €9,552 to €3,473
- Tangible fixed assets -€6,005
down €6,005 (-15.0%), from €39,903 to €33,898
- Receivables within one year +€3,963
up €3,963 (+16.9%), from €23,395 to €27,358
of which Trade receivables: +€6,691
- Trade debts +€19,006
up €19,006 (+539%), from €3,527 to €22,533
- Other debts -€5,939
down €5,939 (-98.5%), from €6,028 to €89
- Profit (loss) carried forward -€4,441
down €4,441 (-473%), from -€939 to -€5,380
- Debts after one year -€3,584
down €3,584 (-20.4%), from €17,591 to €14,007
- Gross operating margin -€3,497
down €3,497 (-39.4%), from €8,866 to €5,369
- Taxes -€818
down €818 (-76.5%), from €1,069 to €251
- Financial charges +€558
up €558 (+38.3%), from €1,456 to €2,014
- Depreciation -€172
down €172 (-2.8%), from €6,176 to €6,005
- Other operating charges +€98
up €98 (+8.5%), from €1,156 to €1,254
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 | €87,014 | €92,145 | +€5,131 | +5.9% |
| Fixed assets | 21/28 | €39,903 | €33,898 | -€6,005 | -15.0% |
| Tangible fixed assets | 22/27 | €39,903 | €33,898 | -€6,005 | -15.0% |
| Land and buildings | 22 | €27,520 | €25,749 | -€1,771 | -6.4% |
| Plant, machinery and equipment | 23 | €7,567 | €4,805 | -€2,762 | -36.5% |
| Furniture and vehicles | 24 | €4,815 | €3,344 | -€1,472 | -30.6% |
| Current assets | 29/58 | €47,111 | €58,246 | +€11,136 | +23.6% |
| Amounts receivable within one year | 40/41 | €23,395 | €27,358 | +€3,963 | +16.9% |
| Trade receivables | 40 | €15,793 | €22,484 | +€6,691 | +42.4% |
| Other amounts receivable | 41 | €7,602 | €4,874 | -€2,728 | -35.9% |
| Cash at bank and in hand | 54/58 | €14,164 | €27,416 | +€13,251 | +93.6% |
| Deferred charges and accrued income | 490/1 | €9,552 | €3,473 | -€6,079 | -63.6% |
| Total equity and liabilities | 10/49 | €87,014 | €92,145 | +€5,131 | +5.9% |
| Equity | 10/15 | €53,698 | €49,257 | -€4,441 | -8.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €53,637 | €53,637 | = | 0.0% |
| Distributable reserves | 133 | €53,637 | €53,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€939 | -€5,380 | -€4,441 | -473% |
| Amounts payable | 17/49 | €33,316 | €42,888 | +€9,572 | +28.7% |
| Amounts payable after more than one year | 17 | €17,591 | €14,007 | -€3,584 | -20.4% |
| Financial debts | 170/4 | €17,591 | €14,007 | -€3,584 | -20.4% |
| Amounts payable within one year | 42/48 | €15,725 | €28,881 | +€13,156 | +83.7% |
| Current portion of amounts payable after more than one year | 42 | €3,523 | €3,584 | +€62 | +1.7% |
| Trade debts | 44 | €3,527 | €22,533 | +€19,006 | +539% |
| Suppliers | 440/4 | €3,527 | €22,533 | +€19,006 | +539% |
| Taxes, remuneration and social security | 45 | €2,647 | €2,674 | +€27 | +1.0% |
| Remuneration and social security | 454/9 | €2,647 | €2,674 | +€27 | +1.0% |
| Other amounts payable | 47/48 | €6,028 | €89 | -€5,939 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,176 | €6,005 | -€172 | -2.8% |
| Other operating charges | 640/8 | €1,156 | €1,254 | +€98 | +8.5% |
| Non-recurring operating charges | 66A | - | €325 | +€325 | |
| Gross operating margin | 9900 | €8,866 | €5,369 | -€3,497 | -39.4% |
| Operating profit (loss) | 9901 | €1,534 | -€2,214 | -€3,749 | |
| Financial income | 75/76B | €52 | €39 | -€13 | -25.2% |
| Recurring financial income | 75 | €52 | €39 | -€13 | -25.2% |
| Financial charges | 65/66B | €1,456 | €2,014 | +€558 | +38.3% |
| Recurring financial charges | 65 | €1,456 | €2,014 | +€558 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €130 | -€4,190 | -€4,320 | |
| Income taxes | 67/77 | €1,069 | €251 | -€818 | -76.5% |
| Profit (loss) for the period | 9904 | -€939 | -€4,441 | -€3,502 | -373% |
| Profit (loss) for the period to be appropriated | 9905 | -€939 | -€4,441 | -€3,502 | -373% |
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 13 October 2026 via checked.be.