T-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.
T-Construct
Largest movements
- Cash -€53,510
down €53,510 (-57.7%), from €92,708 to €39,198
mainly Other debts (-€59,268) and Net result for the year (-€20,958)
- Receivables within one year -€22,138
down €22,138 (-30.0%), from €73,895 to €51,757
of which Other amounts receivable: -€46,349
- Tangible fixed assets +€2,705
new in 2025: €2,705
- Other debts -€59,268
down €59,268 (-79.6%), from €74,441 to €15,173
- Profit (loss) carried forward -€20,958
down €20,958 (-97.5%), from €21,492 to €534
- Trade debts +€7,283
up €7,283 (+39.7%), from €18,362 to €25,645
- Gross operating margin -€20,492
down €20,492, from €4,008 to -€16,484
- Financial charges +€1,651
up €1,651 (+155.8%), from €1,059 to €2,710
- Financial income -€1,459
no longer reported in 2025 (was €1,459)
- Taxes -€1,366
down €1,366 (-91.2%), from €1,498 to €132
- Other operating charges -€949
down €949 (-65.7%), from €1,446 to €496
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 | €166,603 | €93,660 | -€72,943 | -43.8% |
| Fixed assets | 21/28 | - | €2,705 | +€2,705 | |
| Tangible fixed assets | 22/27 | - | €2,705 | +€2,705 | |
| Furniture and vehicles | 24 | - | €2,705 | +€2,705 | |
| Current assets | 29/58 | €166,603 | €90,955 | -€75,648 | -45.4% |
| Amounts receivable within one year | 40/41 | €73,895 | €51,757 | -€22,138 | -30.0% |
| Trade receivables | 40 | €21,483 | €45,694 | +€24,211 | +112.7% |
| Other amounts receivable | 41 | €52,412 | €6,063 | -€46,349 | -88.4% |
| Cash at bank and in hand | 54/58 | €92,708 | €39,198 | -€53,510 | -57.7% |
| Total equity and liabilities | 10/49 | €166,603 | €93,660 | -€72,943 | -43.8% |
| Equity | 10/15 | €72,302 | €51,344 | -€20,958 | -29.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €44,610 | €44,610 | = | 0.0% |
| Distributable reserves | 133 | €44,610 | €44,610 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,492 | €534 | -€20,958 | -97.5% |
| Amounts payable | 17/49 | €94,301 | €42,316 | -€51,985 | -55.1% |
| Amounts payable within one year | 42/48 | €94,301 | €42,316 | -€51,985 | -55.1% |
| Trade debts | 44 | €18,362 | €25,645 | +€7,283 | +39.7% |
| Suppliers | 440/4 | €18,362 | €25,645 | +€7,283 | +39.7% |
| Taxes, remuneration and social security | 45 | €1,498 | €1,498 | = | 0.0% |
| Taxes | 450/3 | €1,498 | €1,498 | = | 0.0% |
| Other amounts payable | 47/48 | €74,441 | €15,173 | -€59,268 | -79.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,102 | €1,136 | +€34 | +3.1% |
| Other operating charges | 640/8 | €1,446 | €496 | -€949 | -65.7% |
| Gross operating margin | 9900 | €4,008 | -€16,484 | -€20,492 | |
| Operating profit (loss) | 9901 | €1,460 | -€18,117 | -€19,577 | |
| Financial income | 75/76B | €1,459 | - | -€1,459 | |
| Recurring financial income | 75 | €1,459 | - | -€1,459 | |
| Financial charges | 65/66B | €1,059 | €2,710 | +€1,651 | +155.8% |
| Recurring financial charges | 65 | €1,059 | €2,710 | +€1,651 | +155.8% |
| Profit (loss) for the period before taxes | 9903 | €1,860 | -€20,826 | -€22,687 | |
| Income taxes | 67/77 | €1,498 | €132 | -€1,366 | -91.2% |
| Profit (loss) for the period | 9904 | €362 | -€20,958 | -€21,320 | |
| Profit (loss) for the period to be appropriated | 9905 | €362 | -€20,958 | -€21,320 |
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 11 October 2026 via checked.be.