T&D 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&D CONSTRUCT
Largest movements
- Cash +€40,062
up €40,062 (+147.2%), from €27,218 to €67,280
mainly Net result for the year (+€64,233) and Debts after one year (+€25,950)
- Tangible fixed assets +€39,191
up €39,191 (+260.8%), from €15,028 to €54,218
of which Leasing and similar rights: +€31,050
- Receivables within one year +€23,303
up €23,303 (+234.6%), from €9,932 to €33,235
of which Trade receivables: +€20,692
- Stocks and contracts +€15,244
up €15,244 (+58.7%), from €25,978 to €41,222
- Reserves +€62,515
up €62,515 (+199.4%), from €31,346 to €93,861
- Debts after one year +€25,950
up €25,950 (+89.8%), from €28,904 to €54,853
of which Financial debts: +€22,648
- Short-term financial debts +€11,689
up €11,689 (+349.6%), from €3,343 to €15,033
- Tax, wage and social debts +€7,364
up €7,364 (+135.2%), from €5,449 to €12,813
- Current portion of long-term debt +€5,463
new in 2025: €5,463
- Gross operating margin +€52,624
up €52,624 (+154.0%), from €34,182 to €86,806
- Taxes +€9,361
up €9,361 (+155.3%), from €6,027 to €15,388
- Financial charges +€2,903
up €2,903 (+1448.0%), from €200 to €3,103
- Depreciation +€940
up €940 (+28.7%), from €3,272 to €4,212
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 | €79,741 | €199,266 | +€119,524 | +149.9% |
| Fixed assets | 21/28 | €15,028 | €54,218 | +€39,191 | +260.8% |
| Tangible fixed assets | 22/27 | €15,028 | €54,218 | +€39,191 | +260.8% |
| Plant, machinery and equipment | 23 | €14,723 | €16,577 | +€1,854 | +12.6% |
| Furniture and vehicles | 24 | €305 | €6,592 | +€6,287 | +2063.3% |
| Leasing and similar rights | 25 | - | €31,050 | +€31,050 | |
| Current assets | 29/58 | €64,714 | €145,047 | +€80,334 | +124.1% |
| Stocks and contracts in progress | 3 | €25,978 | €41,222 | +€15,244 | +58.7% |
| Stocks | 30/36 | €25,978 | €41,222 | +€15,244 | +58.7% |
| Amounts receivable within one year | 40/41 | €9,932 | €33,235 | +€23,303 | +234.6% |
| Trade receivables | 40 | €9,932 | €30,624 | +€20,692 | +208.3% |
| Other amounts receivable | 41 | - | €2,612 | +€2,612 | |
| Cash at bank and in hand | 54/58 | €27,218 | €67,280 | +€40,062 | +147.2% |
| Deferred charges and accrued income | 490/1 | €1,586 | €3,310 | +€1,724 | +108.7% |
| Total equity and liabilities | 10/49 | €79,741 | €199,266 | +€119,524 | +149.9% |
| Equity | 10/15 | €32,846 | €95,361 | +€62,515 | +190.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €31,346 | €93,861 | +€62,515 | +199.4% |
| Distributable reserves | 133 | €31,346 | €93,861 | +€62,515 | +199.4% |
| Amounts payable | 17/49 | €46,895 | €103,905 | +€57,010 | +121.6% |
| Amounts payable after more than one year | 17 | €28,904 | €54,853 | +€25,950 | +89.8% |
| Financial debts | 170/4 | - | €22,648 | +€22,648 | |
| Other amounts payable | 178/9 | €28,904 | €32,205 | +€3,301 | +11.4% |
| Amounts payable within one year | 42/48 | €17,716 | €47,175 | +€29,458 | +166.3% |
| Current portion of amounts payable after more than one year | 42 | - | €5,463 | +€5,463 | |
| Financial debts | 43 | €3,343 | €15,033 | +€11,689 | +349.6% |
| Credit institutions | 430/8 | €3,343 | €15,033 | +€11,689 | +349.6% |
| Trade debts | 44 | €8,924 | €13,866 | +€4,942 | +55.4% |
| Suppliers | 440/4 | €8,924 | €13,866 | +€4,942 | +55.4% |
| Taxes, remuneration and social security | 45 | €5,449 | €12,813 | +€7,364 | +135.2% |
| Taxes | 450/3 | €5,449 | €12,813 | +€7,364 | +135.2% |
| Accrued charges and deferred income | 492/3 | €275 | €1,877 | +€1,602 | +582.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,272 | €4,212 | +€940 | +28.7% |
| Other operating charges | 640/8 | €241 | €351 | +€110 | +45.5% |
| Gross operating margin | 9900 | €34,182 | €86,806 | +€52,624 | +154.0% |
| Operating profit (loss) | 9901 | €30,669 | €82,243 | +€51,575 | +168.2% |
| Financial income | 75/76B | €357 | €481 | +€124 | +34.6% |
| Recurring financial income | 75 | €357 | €481 | +€124 | +34.6% |
| Financial charges | 65/66B | €200 | €3,103 | +€2,903 | +1448.0% |
| Recurring financial charges | 65 | €200 | €3,103 | +€2,903 | +1448.0% |
| Profit (loss) for the period before taxes | 9903 | €30,825 | €79,621 | +€48,796 | +158.3% |
| Income taxes | 67/77 | €6,027 | €15,388 | +€9,361 | +155.3% |
| Profit (loss) for the period | 9904 | €24,798 | €64,233 | +€39,434 | +159.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,798 | €64,233 | +€39,434 | +159.0% |
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 12 October 2026 via checked.be.