T & S 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 & S Construct
Largest movements
- Receivables within one year -€272,705
down €272,705 (-48.0%), from €568,231 to €295,526
of which Trade receivables: -€348,951
- Deferred charges and accrued income +€33,012
up €33,012 (+279%), from €11,819 to €44,831
- Cash +€24,766
up €24,766 (+45.3%), from €54,679 to €79,446
mainly Receivables within one year (+€272,705) and Depreciation (+€58,646)
- Tangible fixed assets -€21,212
down €21,212 (-2.7%), from €778,557 to €757,345
of which Land and buildings: -€28,682
- Advances received -€155,800
no longer reported in 2025 (was €155,800)
- Tax, wage and social debts -€40,847
down €40,847 (-78.8%), from €51,836 to €10,989
of which Taxes: -€39,314
- Debts after one year -€26,814
down €26,814 (-6.1%), from €439,829 to €413,014
- Profit (loss) carried forward -€19,187
down €19,187 (-3.0%), from €634,469 to €615,282
- Gross operating margin -€263,154
down €263,154 (-28.4%), from €925,397 to €662,244
- Staff costs -€77,344
down €77,344 (-12.5%), from €618,563 to €541,218
- Taxes -€38,688
down €38,688 (-67.3%), from €57,496 to €18,808
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 | €1,417,286 | €1,181,148 | -€236,138 | -16.7% |
| Fixed assets | 21/28 | €782,557 | €761,345 | -€21,212 | -2.7% |
| Tangible fixed assets | 22/27 | €778,557 | €757,345 | -€21,212 | -2.7% |
| Land and buildings | 22 | €666,847 | €638,166 | -€28,682 | -4.3% |
| Plant, machinery and equipment | 23 | €57,456 | €49,466 | -€7,990 | -13.9% |
| Furniture and vehicles | 24 | €54,254 | €69,713 | +€15,459 | +28.5% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €634,729 | €419,803 | -€214,926 | -33.9% |
| Amounts receivable within one year | 40/41 | €568,231 | €295,526 | -€272,705 | -48.0% |
| Trade receivables | 40 | €410,591 | €61,640 | -€348,951 | -85.0% |
| Other amounts receivable | 41 | €157,640 | €233,886 | +€76,246 | +48.4% |
| Cash at bank and in hand | 54/58 | €54,679 | €79,446 | +€24,766 | +45.3% |
| Deferred charges and accrued income | 490/1 | €11,819 | €44,831 | +€33,012 | +279% |
| Total equity and liabilities | 10/49 | €1,417,286 | €1,181,148 | -€236,138 | -16.7% |
| Equity | 10/15 | €654,929 | €635,742 | -€19,187 | -2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €634,469 | €615,282 | -€19,187 | -3.0% |
| Amounts payable | 17/49 | €762,357 | €545,406 | -€216,951 | -28.5% |
| Amounts payable after more than one year | 17 | €439,829 | €413,014 | -€26,814 | -6.1% |
| Financial debts | 170/4 | €439,829 | €413,014 | -€26,814 | -6.1% |
| Amounts payable within one year | 42/48 | €322,529 | €132,392 | -€190,136 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €75,670 | €76,814 | +€1,144 | +1.5% |
| Trade debts | 44 | €39,223 | €44,589 | +€5,366 | +13.7% |
| Suppliers | 440/4 | €39,223 | €44,589 | +€5,366 | +13.7% |
| Advances received on contracts in progress | 46 | €155,800 | - | -€155,800 | |
| Taxes, remuneration and social security | 45 | €51,836 | €10,989 | -€40,847 | -78.8% |
| Taxes | 450/3 | €43,744 | €4,430 | -€39,314 | -89.9% |
| Remuneration and social security | 454/9 | €8,092 | €6,559 | -€1,533 | -18.9% |
| Non-recurring operating income | 76A | - | €27,736 | +€27,736 | |
| Remuneration, social security and pensions | 62 | €618,563 | €541,218 | -€77,344 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,591 | €58,646 | -€5,945 | -9.2% |
| Other operating charges | 640/8 | €28,954 | €27,463 | -€1,491 | -5.2% |
| Non-recurring operating charges | 66A | €15,303 | €20,659 | +€5,356 | +35.0% |
| Gross operating margin | 9900 | €925,397 | €662,244 | -€263,154 | -28.4% |
| Operating profit (loss) | 9901 | €197,987 | €14,258 | -€183,730 | -92.8% |
| Financial income | 75/76B | €6,439 | €7,638 | +€1,199 | +18.6% |
| Recurring financial income | 75 | €6,439 | €7,638 | +€1,199 | +18.6% |
| Financial charges | 65/66B | €24,925 | €22,275 | -€2,650 | -10.6% |
| Recurring financial charges | 65 | €24,925 | €22,275 | -€2,650 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €179,502 | -€379 | -€179,881 | |
| Income taxes | 67/77 | €57,496 | €18,808 | -€38,688 | -67.3% |
| Profit (loss) for the period | 9904 | €122,006 | -€19,187 | -€141,193 | |
| Profit (loss) for the period to be appropriated | 9905 | €122,006 | -€19,187 | -€141,193 |
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.