SPD CONSTRUCT: what changed
What changed
SPD CONSTRUCT
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€91,395
2024 · €103,835-€12,441
Equity
€203,290
2024 · €111,895+€91,395
Cash
€320,177
2024 · €504,325-€184,148
Balance sheet total
€401,694
2024 · €610,198-€208,504
Largest movements
Assets
- Cash -€184,148
down €184,148 (-36.5%), from €504,325 to €320,177
mainly Other debts (-€290,078) and Tax, wage and social debts (-€9,309)
- Receivables within one year -€23,996
down €23,996 (-88.0%), from €27,265 to €3,269
of which Other amounts receivable: -€19,943
Equity and liabilities
- Other debts -€290,078
down €290,078 (-65.8%), from €440,691 to €150,613
- Reserves +€91,395
up €91,395 (+86.5%), from €105,695 to €197,090
- Tax, wage and social debts -€9,309
down €9,309 (-31.2%), from €29,868 to €20,559
of which Taxes: -€16,210
Income statement
- Gross operating margin -€31,136
down €31,136 (-14.1%), from €221,147 to €190,011
- Staff costs -€13,852
down €13,852 (-21.7%), from €63,896 to €50,043
- Taxes -€5,981
down €5,981 (-13.7%), from €43,672 to €37,691
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€103,835
Gross operating margin
-€31,136
Staff costs
+€13,852
Depreciation
-€319
Other operating charges
-€72
Financial income
+€164
Financial charges
-€911
Taxes
+€5,981
Result 2025
€91,395
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€178,499
Investment
-€5,648
Financing
€0
Cash 2024
€504,325
From operations (derived)
-€178,499
Net result for the year
+€91,395
Depreciation
+€7,113
Stocks and contracts
+€815
Receivables within one year
+€23,996
Deferred charges and accrued income
-€1,919
Smaller working-capital items
-€512
Tax, wage and social debts
-€9,309
Other debts
-€290,078
Investment (derived)
-€5,648
Investment in fixed assets (net)
-€5,648
Cash 2025
€320,177
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €610,198 | €401,694 | -€208,504 | -34.2% |
| Fixed assets | 21/28 | €65,843 | €64,378 | -€1,464 | -2.2% |
| Tangible fixed assets | 22/27 | €64,921 | €63,456 | -€1,464 | -2.3% |
| Land and buildings | 22 | €60,945 | €55,500 | -€5,445 | -8.9% |
| Plant, machinery and equipment | 23 | €3,975 | €7,956 | +€3,981 | +100% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €922 | €922 | = | 0.0% |
| Current assets | 29/58 | €544,356 | €337,316 | -€207,039 | -38.0% |
| Stocks and contracts in progress | 3 | €4,788 | €3,973 | -€815 | -17.0% |
| Stocks | 30/36 | €4,788 | €3,973 | -€815 | -17.0% |
| Amounts receivable within one year | 40/41 | €27,265 | €3,269 | -€23,996 | -88.0% |
| Trade receivables | 40 | €4,433 | €380 | -€4,053 | -91.4% |
| Other amounts receivable | 41 | €22,832 | €2,889 | -€19,943 | -87.3% |
| Cash at bank and in hand | 54/58 | €504,325 | €320,177 | -€184,148 | -36.5% |
| Deferred charges and accrued income | 490/1 | €7,978 | €9,897 | +€1,919 | +24.1% |
| Total equity and liabilities | 10/49 | €610,198 | €401,694 | -€208,504 | -34.2% |
| Equity | 10/15 | €111,895 | €203,290 | +€91,395 | +81.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,695 | €197,090 | +€91,395 | +86.5% |
| Distributable reserves | 133 | €105,695 | €197,090 | +€91,395 | +86.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €498,303 | €198,404 | -€299,898 | -60.2% |
| Amounts payable within one year | 42/48 | €498,303 | €198,309 | -€299,994 | -60.2% |
| Trade debts | 44 | €27,744 | €27,137 | -€607 | -2.2% |
| Suppliers | 440/4 | €27,744 | €27,137 | -€607 | -2.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €29,868 | €20,559 | -€9,309 | -31.2% |
| Taxes | 450/3 | €29,868 | €13,657 | -€16,210 | -54.3% |
| Remuneration and social security | 454/9 | - | €6,901 | +€6,901 | |
| Other amounts payable | 47/48 | €440,691 | €150,613 | -€290,078 | -65.8% |
| Accrued charges and deferred income | 492/3 | €0 | €95 | +€95 | |
| Remuneration, social security and pensions | 62 | €63,896 | €50,043 | -€13,852 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,794 | €7,113 | +€319 | +4.7% |
| Other operating charges | 640/8 | €3,736 | €3,808 | +€72 | +1.9% |
| Gross operating margin | 9900 | €221,147 | €190,011 | -€31,136 | -14.1% |
| Operating profit (loss) | 9901 | €146,722 | €129,047 | -€17,674 | -12.0% |
| Financial income | 75/76B | €2,827 | €2,991 | +€164 | +5.8% |
| Recurring financial income | 75 | €2,827 | €2,991 | +€164 | +5.8% |
| Financial charges | 65/66B | €2,041 | €2,952 | +€911 | +44.6% |
| Recurring financial charges | 65 | €2,041 | €2,952 | +€911 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €147,507 | €129,086 | -€18,421 | -12.5% |
| Income taxes | 67/77 | €43,672 | €37,691 | -€5,981 | -13.7% |
| Profit (loss) for the period | 9904 | €103,835 | €91,395 | -€12,441 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €103,835 | €91,395 | -€12,441 | -12.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.