TCONSTRUCT: 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.
TCONSTRUCT
Largest movements
- Cash +€36,572
up €36,572 (+78.5%), from €46,609 to €83,180
mainly Net result for the year (+€17,401) and Trade debts (+€15,688)
- Receivables within one year -€9,551
down €9,551 (-21.8%), from €43,764 to €34,214
of which Trade receivables: -€13,250
- Tangible fixed assets +€7,247
up €7,247 (+63.7%), from €11,385 to €18,631
of which Furniture and vehicles: +€4,275
- Deferred charges and accrued income -€1,590
no longer reported in 2025 (was €1,590)
- Reserves +€17,401
up €17,401 (+60.3%), from €28,843 to €46,244
of which Distributable reserves: +€17,401
- Trade debts +€15,688
up €15,688 (+265.3%), from €5,914 to €21,601
- Debts after one year -€9,239
down €9,239 (-15.1%), from €61,175 to €51,936
- Tax, wage and social debts +€8,319
up €8,319 (+435.3%), from €1,911 to €10,230
of which Taxes: +€6,319
- Depreciation -€6,959
down €6,959 (-38.1%), from €18,275 to €11,316
- Taxes +€5,075
up €5,075 (+299.0%), from €1,697 to €6,773
- Financial charges -€1,229
down €1,229 (-43.0%), from €2,858 to €1,629
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 | €103,347 | €136,026 | +€32,678 | +31.6% |
| Fixed assets | 21/28 | €11,385 | €18,631 | +€7,247 | +63.7% |
| Tangible fixed assets | 22/27 | €11,385 | €18,631 | +€7,247 | +63.7% |
| Plant, machinery and equipment | 23 | €5,301 | €8,273 | +€2,972 | +56.1% |
| Furniture and vehicles | 24 | €6,084 | €10,358 | +€4,275 | +70.3% |
| Current assets | 29/58 | €91,963 | €117,394 | +€25,431 | +27.7% |
| Amounts receivable within one year | 40/41 | €43,764 | €34,214 | -€9,551 | -21.8% |
| Trade receivables | 40 | €13,250 | - | -€13,250 | |
| Other amounts receivable | 41 | €30,514 | €34,214 | +€3,699 | +12.1% |
| Cash at bank and in hand | 54/58 | €46,609 | €83,180 | +€36,572 | +78.5% |
| Deferred charges and accrued income | 490/1 | €1,590 | - | -€1,590 | |
| Total equity and liabilities | 10/49 | €103,347 | €136,026 | +€32,678 | +31.6% |
| Equity | 10/15 | €24,349 | €41,750 | +€17,401 | +71.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €28,843 | €46,244 | +€17,401 | +60.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,983 | €44,384 | +€17,401 | +64.5% |
| Profit (loss) carried forward | 14 | -€16,894 | -€16,894 | = | 0.0% |
| Amounts payable | 17/49 | €78,998 | €94,276 | +€15,278 | +19.3% |
| Amounts payable after more than one year | 17 | €61,175 | €51,936 | -€9,239 | -15.1% |
| Financial debts | 170/4 | €61,175 | €51,936 | -€9,239 | -15.1% |
| Amounts payable within one year | 42/48 | €17,823 | €42,114 | +€24,292 | +136.3% |
| Current portion of amounts payable after more than one year | 42 | €8,954 | €9,239 | +€286 | +3.2% |
| Trade debts | 44 | €5,914 | €21,601 | +€15,688 | +265.3% |
| Suppliers | 440/4 | €5,914 | €21,601 | +€15,688 | +265.3% |
| Taxes, remuneration and social security | 45 | €1,911 | €10,230 | +€8,319 | +435.3% |
| Taxes | 450/3 | €1,911 | €8,230 | +€6,319 | +330.7% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €1,044 | €1,044 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €225 | +€225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,275 | €11,316 | -€6,959 | -38.1% |
| Other operating charges | 640/8 | €516 | €465 | -€50 | -9.8% |
| Gross operating margin | 9900 | €37,814 | €37,574 | -€239 | -0.6% |
| Operating profit (loss) | 9901 | €19,023 | €25,793 | +€6,770 | +35.6% |
| Financial income | 75/76B | €31 | €9 | -€21 | -69.9% |
| Recurring financial income | 75 | €31 | €9 | -€21 | -69.9% |
| Financial charges | 65/66B | €2,858 | €1,629 | -€1,229 | -43.0% |
| Recurring financial charges | 65 | €2,858 | €1,629 | -€1,229 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €16,195 | €24,173 | +€7,978 | +49.3% |
| Income taxes | 67/77 | €1,697 | €6,773 | +€5,075 | +299.0% |
| Profit (loss) for the period | 9904 | €14,498 | €17,401 | +€2,903 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,498 | €17,401 | +€2,903 | +20.0% |
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 29 September 2026 via checked.be.