Standing Construct: 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.
Standing Construct
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+61.5%), from €2.1m to €3.4m
of which Other amounts receivable: +€1.4m
- Cash -€535,430
down €535,430 (-45.4%), from €1.2m to €643,844
mainly Receivables within one year (-€1.3m) and Contributions, distributions and other (-€1.0m)
- Receivables after one year -€450,000
down €450,000 (-42.9%), from €1.1m to €600,000
- Stocks and contracts -€417,333
down €417,333 (-41.0%), from €1.0m to €599,692
of which Stocks: -€390,744
- Reserves +€269,917
up €269,917 (+7.9%), from €3.4m to €3.7m
- Trade debts -€138,808
down €138,808 (-44.9%), from €309,122 to €170,314
- Tax, wage and social debts -€123,132
down €123,132 (-25.2%), from €489,582 to €366,451
of which Taxes: -€125,099
- Staff costs -€209,788
down €209,788 (-16.9%), from €1.2m to €1.0m
- Taxes -€92,352
down €92,352 (-27.5%), from €336,080 to €243,728
- Depreciation -€91,267
down €91,267 (-71.2%), from €128,097 to €36,831
- Gross operating margin +€69,930
up €69,930 (+2.7%), from €2.6m to €2.6m
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 | €5,547,360 | €5,462,094 | -€85,266 | -1.5% |
| Fixed assets | 21/28 | €91,529 | €75,470 | -€16,059 | -17.5% |
| Tangible fixed assets | 22/27 | €86,835 | €75,276 | -€11,559 | -13.3% |
| Land and buildings | 22 | €12,397 | €9,135 | -€3,263 | -26.3% |
| Plant, machinery and equipment | 23 | €48,402 | €25,734 | -€22,669 | -46.8% |
| Furniture and vehicles | 24 | €26,036 | €40,408 | +€14,372 | +55.2% |
| Financial fixed assets | 28 | €4,694 | €194 | -€4,500 | -95.9% |
| Current assets | 29/58 | €5,455,831 | €5,386,625 | -€69,206 | -1.3% |
| Amounts receivable after more than one year | 29 | €1,050,000 | €600,000 | -€450,000 | -42.9% |
| Other amounts receivable | 291 | €1,050,000 | €600,000 | -€450,000 | -42.9% |
| Stocks and contracts in progress | 3 | €1,017,025 | €599,692 | -€417,333 | -41.0% |
| Stocks | 30/36 | €762,327 | €371,583 | -€390,744 | -51.3% |
| Contracts in progress | 37 | €254,698 | €228,109 | -€26,589 | -10.4% |
| Amounts receivable within one year | 40/41 | €2,101,112 | €3,394,245 | +€1.3m | +61.5% |
| Trade receivables | 40 | €344,206 | €257,595 | -€86,611 | -25.2% |
| Other amounts receivable | 41 | €1,756,906 | €3,136,650 | +€1.4m | +78.5% |
| Current investments | 50/53 | €455 | €1,950 | +€1,495 | +328.5% |
| Cash at bank and in hand | 54/58 | €1,179,273 | €643,844 | -€535,430 | -45.4% |
| Deferred charges and accrued income | 490/1 | €107,965 | €146,893 | +€38,928 | +36.1% |
| Total equity and liabilities | 10/49 | €5,547,360 | €5,462,094 | -€85,266 | -1.5% |
| Equity | 10/15 | €3,430,883 | €3,700,800 | +€269,917 | +7.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,418,483 | €3,688,400 | +€269,917 | +7.9% |
| Distributable reserves | 133 | €3,418,483 | €3,688,400 | +€269,917 | +7.9% |
| Amounts payable | 17/49 | €2,116,477 | €1,761,294 | -€355,183 | -16.8% |
| Amounts payable within one year | 42/48 | €2,065,882 | €1,756,290 | -€309,592 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €261,341 | €215,055 | -€46,286 | -17.7% |
| Trade debts | 44 | €309,122 | €170,314 | -€138,808 | -44.9% |
| Suppliers | 440/4 | €309,122 | €170,314 | -€138,808 | -44.9% |
| Taxes, remuneration and social security | 45 | €489,582 | €366,451 | -€123,132 | -25.2% |
| Taxes | 450/3 | €398,545 | €273,447 | -€125,099 | -31.4% |
| Remuneration and social security | 454/9 | €91,037 | €93,004 | +€1,967 | +2.2% |
| Other amounts payable | 47/48 | €1,005,837 | €1,004,470 | -€1,367 | -0.1% |
| Accrued charges and deferred income | 492/3 | €50,595 | €5,004 | -€45,591 | -90.1% |
| Non-recurring operating income | 76A | €9,637 | €7,925 | -€1,712 | -17.8% |
| Remuneration, social security and pensions | 62 | €1,237,930 | €1,028,142 | -€209,788 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,097 | €36,831 | -€91,267 | -71.2% |
| Other operating charges | 640/8 | €15,783 | €14,956 | -€827 | -5.2% |
| Non-recurring operating charges | 66A | €2,583 | €71,002 | +€68,419 | +2648.9% |
| Gross operating margin | 9900 | €2,576,268 | €2,646,198 | +€69,930 | +2.7% |
| Operating profit (loss) | 9901 | €1,191,875 | €1,495,268 | +€303,393 | +25.5% |
| Financial income | 75/76B | €69,008 | €53,623 | -€15,385 | -22.3% |
| Recurring financial income | 75 | €67,097 | €53,623 | -€13,474 | -20.1% |
| Non-recurring financial income | 76B | €1,912 | - | -€1,912 | |
| Financial charges | 65/66B | €50,085 | €35,246 | -€14,839 | -29.6% |
| Recurring financial charges | 65 | €50,085 | €35,246 | -€14,839 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €1,210,798 | €1,513,645 | +€302,847 | +25.0% |
| Income taxes | 67/77 | €336,080 | €243,728 | -€92,352 | -27.5% |
| Profit (loss) for the period | 9904 | €874,718 | €1,269,917 | +€395,199 | +45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €874,718 | €1,269,917 | +€395,199 | +45.2% |
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.