THINK CONSTRUCTION: 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.
THINK CONSTRUCTION
Largest movements
- Cash -€107,454
down €107,454 (-57.1%), from €188,315 to €80,861
mainly Trade debts (-€65,836) and Contributions, distributions and other (-€55,000)
- Tangible fixed assets -€30,544
down €30,544 (-35.7%), from €85,586 to €55,042
of which Furniture and vehicles: -€27,937
- Receivables within one year +€23,514
up €23,514 (+20.2%), from €116,634 to €140,148
of which Trade receivables: +€29,054
- Stocks and contracts +€5,012
new in 2025: €5,012
- Deferred charges and accrued income -€4,081
down €4,081 (-66.4%), from €6,150 to €2,069
- Trade debts -€65,836
down €65,836 (-61.4%), from €107,264 to €41,428
- Other debts -€21,351
down €21,351 (-31.9%), from €66,903 to €45,552
- Tax, wage and social debts -€18,590
down €18,590 (-40.3%), from €46,077 to €27,487
of which Taxes: -€16,578
- Current portion of long-term debt -€8,419
no longer reported in 2025 (was €8,419)
- Purchases and services +€192,473
up €192,473 (+25.1%), from €766,839 to €959,312
- Turnover +€160,550
up €160,550 (+17.0%), from €941,961 to €1.1m
- Gross operating margin -€31,923
down €31,923 (-18.2%), from €175,123 to €143,200
- Write-downs +€25,000
no longer reported in 2025 (was -€25,000)
- Taxes -€14,122
down €14,122 (-46.4%), from €30,442 to €16,320
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 | €396,761 | €283,208 | -€113,553 | -28.6% |
| Fixed assets | 21/28 | €85,661 | €55,117 | -€30,544 | -35.7% |
| Tangible fixed assets | 22/27 | €85,586 | €55,042 | -€30,544 | -35.7% |
| Plant, machinery and equipment | 23 | €5,568 | €2,961 | -€2,607 | -46.8% |
| Furniture and vehicles | 24 | €80,019 | €52,082 | -€27,937 | -34.9% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €311,099 | €228,091 | -€83,009 | -26.7% |
| Stocks and contracts in progress | 3 | - | €5,012 | +€5,012 | |
| Stocks | 30/36 | - | €5,012 | +€5,012 | |
| Amounts receivable within one year | 40/41 | €116,634 | €140,148 | +€23,514 | +20.2% |
| Trade receivables | 40 | €102,242 | €131,297 | +€29,054 | +28.4% |
| Other amounts receivable | 41 | €14,392 | €8,851 | -€5,541 | -38.5% |
| Cash at bank and in hand | 54/58 | €188,315 | €80,861 | -€107,454 | -57.1% |
| Deferred charges and accrued income | 490/1 | €6,150 | €2,069 | -€4,081 | -66.4% |
| Total equity and liabilities | 10/49 | €396,761 | €283,208 | -€113,553 | -28.6% |
| Equity | 10/15 | €168,097 | €168,740 | +€643 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,860 | €26,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,637 | €123,280 | +€643 | +0.5% |
| Amounts payable | 17/49 | €228,663 | €114,467 | -€114,196 | -49.9% |
| Amounts payable within one year | 42/48 | €228,663 | €114,467 | -€114,196 | -49.9% |
| Current portion of amounts payable after more than one year | 42 | €8,419 | - | -€8,419 | |
| Trade debts | 44 | €107,264 | €41,428 | -€65,836 | -61.4% |
| Suppliers | 440/4 | €107,264 | €41,428 | -€65,836 | -61.4% |
| Taxes, remuneration and social security | 45 | €46,077 | €27,487 | -€18,590 | -40.3% |
| Taxes | 450/3 | €43,539 | €26,961 | -€16,578 | -38.1% |
| Remuneration and social security | 454/9 | €2,538 | €526 | -€2,012 | -79.3% |
| Other amounts payable | 47/48 | €66,903 | €45,552 | -€21,351 | -31.9% |
| Turnover | 70 | €941,961 | €1,102,512 | +€160,550 | +17.0% |
| Non-recurring operating income | 76A | - | €10 | +€10 | |
| Goods, raw materials, services and sundry goods | 60/61 | €766,839 | €959,312 | +€192,473 | +25.1% |
| Remuneration, social security and pensions | 62 | €40,839 | €39,494 | -€1,345 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,488 | €30,544 | +€9,057 | +42.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€25,000 | - | +€25,000 | |
| Other operating charges | 640/8 | €1,859 | €125 | -€1,734 | -93.3% |
| Non-recurring operating charges | 66A | - | €686 | +€686 | |
| Gross operating margin | 9900 | €175,123 | €143,200 | -€31,923 | -18.2% |
| Operating profit (loss) | 9901 | €135,937 | €72,350 | -€63,586 | -46.8% |
| Financial income | 75/76B | €22 | €3 | -€18 | -85.0% |
| Recurring financial income | 75 | €22 | €3 | -€18 | -85.0% |
| Financial charges | 65/66B | €540 | €390 | -€149 | -27.7% |
| Recurring financial charges | 65 | €540 | €390 | -€149 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €135,419 | €71,964 | -€63,455 | -46.9% |
| Income taxes | 67/77 | €30,442 | €16,320 | -€14,122 | -46.4% |
| Profit (loss) for the period | 9904 | €104,977 | €55,643 | -€49,333 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €104,977 | €55,643 | -€49,333 | -47.0% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.