TEAM 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.
What changed
TEAM CONSTRUCT
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€328,693
2024 · -€515,035+€843,728
Equity
€740,943
2024 · €562,250+€178,693
Cash
€2.8m
2024 · €2.2m+€648,494
Balance sheet total
€4.0m
2024 · €3.7m+€256,200
Largest movements
Assets
- Cash +€648,494
up €648,494 (+29.7%), from €2.2m to €2.8m
mainly Net result for the year (+€328,693) and Stocks and contracts (+€154,869)
- Stocks and contracts -€154,869
down €154,869 (-89.8%), from €172,366 to €17,498
- Receivables within one year -€102,495
down €102,495 (-10.8%), from €948,871 to €846,376
of which Trade receivables: -€99,026
- Tangible fixed assets -€100,944
down €100,944 (-36.9%), from €273,350 to €172,406
of which Other tangible fixed assets: -€55,771
Equity and liabilities
- Advances received -€304,926
down €304,926 (-12.9%), from €2.4m to €2.1m
- Profit (loss) carried forward +€162,529
up €162,529, from -€5,400 to €157,128
- Other debts +€146,507
up €146,507 (+1755.5%), from €8,346 to €154,853
- Tax, wage and social debts +€129,624
up €129,624 (+32.2%), from €402,075 to €531,699
of which Taxes: +€138,904
- Trade debts +€104,689
up €104,689 (+30.4%), from €344,238 to €448,927
Income statement
- Goods and materials -€4.9m
down €4.9m (-34.1%), from €14.2m to €9.4m
- Turnover -€3.7m
down €3.7m (-19.5%), from €18.7m to €15.1m
- Services and other goods +€449,822
up €449,822 (+27.1%), from €1.7m to €2.1m
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.
Result 2024
-€515,035
Turnover
-€3.7m
Other operating income
-€29,521
Goods and materials
+€4.9m
Services and other goods
-€449,822
Staff costs
+€83,732
Depreciation
+€27,389
Other operating charges
-€1,310
Other operating items
+€71,414
Financial income
-€21,343
Financial charges
-€5,583
Taxes
-€29,420
Result 2025
€328,693
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.
From operations
+€827,607
Investment
-€29,113
Financing
-€150,000
Cash 2024
€2.2m
From operations (derived)
+€827,607
Net result for the year
+€328,693
Depreciation
+€135,065
Stocks and contracts
+€154,869
Receivables within one year
+€102,495
Deferred charges and accrued income
+€28,978
Trade debts
+€104,689
Tax, wage and social debts
+€129,624
Advances received
-€304,926
Other debts
+€146,507
Accrued charges and deferred income
+€1,613
Investment (derived)
-€29,113
Investment in fixed assets (net)
-€34,121
Current investments
+€5,008
Financing
-€150,000
Contributions, distributions and other
-€150,000
Cash 2025
€2.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,699,407 | €3,955,607 | +€256,200 | +6.9% |
| Fixed assets | 21/28 | €331,875 | €230,931 | -€100,944 | -30.4% |
| Tangible fixed assets | 22/27 | €273,350 | €172,406 | -€100,944 | -36.9% |
| Plant, machinery and equipment | 23 | €55,024 | €42,816 | -€12,208 | -22.2% |
| Furniture and vehicles | 24 | €147,976 | €115,011 | -€32,965 | -22.3% |
| Other tangible fixed assets | 26 | €70,350 | €14,579 | -€55,771 | -79.3% |
| Financial fixed assets | 28 | €58,525 | €58,525 | = | 0.0% |
| Other financial fixed assets | 284/8 | €58,525 | €58,525 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €58,525 | €58,525 | = | 0.0% |
| Current assets | 29/58 | €3,367,532 | €3,724,676 | +€357,143 | +10.6% |
| Stocks and contracts in progress | 3 | €172,366 | €17,498 | -€154,869 | -89.8% |
| Contracts in progress | 37 | €172,366 | €17,498 | -€154,869 | -89.8% |
| Amounts receivable within one year | 40/41 | €948,871 | €846,376 | -€102,495 | -10.8% |
| Trade receivables | 40 | €789,655 | €690,629 | -€99,026 | -12.5% |
| Other amounts receivable | 41 | €159,216 | €155,747 | -€3,469 | -2.2% |
| Current investments | 50/53 | €6,794 | €1,786 | -€5,008 | -73.7% |
| Other investments | 51/53 | €6,794 | €1,786 | -€5,008 | -73.7% |
| Cash at bank and in hand | 54/58 | €2,182,689 | €2,831,183 | +€648,494 | +29.7% |
| Deferred charges and accrued income | 490/1 | €56,812 | €27,834 | -€28,978 | -51.0% |
| Total equity and liabilities | 10/49 | €3,699,407 | €3,955,607 | +€256,200 | +6.9% |
| Equity | 10/15 | €562,250 | €740,943 | +€178,693 | +31.8% |
| Contributions | 10/11 | €561,500 | €561,500 | = | 0.0% |
| Capital | 10 | €561,500 | €561,500 | = | 0.0% |
| Issued capital | 100 | €561,500 | €561,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €22,315 | +€16,165 | +262.8% |
| Non-distributable reserves | 130/1 | €6,150 | €22,315 | +€16,165 | +262.8% |
| Legal reserve | 130 | €6,150 | €22,315 | +€16,165 | +262.8% |
| Profit (loss) carried forward | 14 | -€5,400 | €157,128 | +€162,529 | |
| Amounts payable | 17/49 | €3,137,157 | €3,214,664 | +€77,506 | +2.5% |
| Amounts payable within one year | 42/48 | €3,121,481 | €3,197,375 | +€75,894 | +2.4% |
| Trade debts | 44 | €344,238 | €448,927 | +€104,689 | +30.4% |
| Suppliers | 440/4 | €344,238 | €448,927 | +€104,689 | +30.4% |
| Advances received on contracts in progress | 46 | €2,366,822 | €2,061,896 | -€304,926 | -12.9% |
| Taxes, remuneration and social security | 45 | €402,075 | €531,699 | +€129,624 | +32.2% |
| Taxes | 450/3 | €136,729 | €275,633 | +€138,904 | +101.6% |
| Remuneration and social security | 454/9 | €265,347 | €256,066 | -€9,281 | -3.5% |
| Other amounts payable | 47/48 | €8,346 | €154,853 | +€146,507 | +1755.5% |
| Accrued charges and deferred income | 492/3 | €15,676 | €17,289 | +€1,613 | +10.3% |
| Operating income | 70/76A | €18,677,367 | €15,073,491 | -€3.6m | -19.3% |
| Turnover | 70 | €18,706,438 | €15,050,825 | -€3.7m | -19.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€238,588 | -€154,869 | +€83,719 | +35.1% |
| Other operating income | 74 | €207,055 | €177,535 | -€29,521 | -14.3% |
| Non-recurring operating income | 76A | €2,462 | - | -€2,462 | |
| Operating charges | 60/66A | €19,223,833 | €14,719,882 | -€4.5m | -23.4% |
| Goods for resale, raw materials and consumables | 60 | €14,229,111 | €9,375,308 | -€4.9m | -34.1% |
| Purchases | 600/8 | €14,229,111 | €9,375,308 | -€4.9m | -34.1% |
| Services and other goods | 61 | €1,661,875 | €2,111,696 | +€449,822 | +27.1% |
| Remuneration, social security and pensions | 62 | €3,118,367 | €3,034,635 | -€83,732 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,454 | €135,065 | -€27,389 | -16.9% |
| Other operating charges | 640/8 | €52,026 | €53,335 | +€1,310 | +2.5% |
| Non-recurring operating charges | 66A | - | €9,843 | +€9,843 | |
| Operating profit (loss) | 9901 | -€546,465 | €353,608 | +€900,073 | |
| Financial income | 75/76B | €80,926 | €59,584 | -€21,343 | -26.4% |
| Recurring financial income | 75 | €80,926 | €59,584 | -€21,343 | -26.4% |
| Income from current assets | 751 | €8 | €6 | -€2 | -24.0% |
| Other financial income | 752/9 | €80,918 | €59,577 | -€21,341 | -26.4% |
| Financial charges | 65/66B | €43,003 | €48,586 | +€5,583 | +13.0% |
| Recurring financial charges | 65 | €43,003 | €48,586 | +€5,583 | +13.0% |
| Debt charges | 650 | €22,696 | €27,602 | +€4,906 | +21.6% |
| Other financial charges | 652/9 | €20,307 | €20,984 | +€677 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€508,542 | €364,606 | +€873,148 | |
| Income taxes | 67/77 | €6,493 | €35,913 | +€29,420 | +453.1% |
| Taxes | 670/3 | €6,493 | €35,913 | +€29,420 | +453.1% |
| Profit (loss) for the period | 9904 | -€515,035 | €328,693 | +€843,728 | |
| Profit (loss) for the period to be appropriated | 9905 | -€515,035 | €328,693 | +€843,728 |
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 4 October 2026 via checked.be.