WT-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.
WT-Construct
Largest movements
- Receivables within one year -€107,946
down €107,946 (-31.4%), from €343,679 to €235,733
of which Other amounts receivable: -€130,110
- Stocks and contracts +€101,145
new in 2025: €101,145
of which Contracts in progress: +€84,939
- Tangible fixed assets -€23,715
down €23,715 (-15.0%), from €158,538 to €134,823
of which Plant, machinery and equipment: -€12,126
- Cash -€7,930
down €7,930 (-9.1%), from €87,100 to €79,169
mainly Stocks and contracts (-€101,145) and Investment in fixed assets (net) (-€41,952)
- Trade debts -€25,972
down €25,972 (-35.4%), from €73,393 to €47,421
- Other debts -€14,593
down €14,593 (-7.4%), from €196,604 to €182,011
- Tax, wage and social debts +€12,356
up €12,356 (+16.6%), from €74,458 to €86,814
of which Remuneration and social security: +€6,281
- Reserves +€12,220
up €12,220 (+5.6%), from €219,674 to €231,894
- Current portion of long-term debt -€9,183
down €9,183 (-51.7%), from €17,754 to €8,571
- Staff costs +€143,141
up €143,141 (+51.1%), from €280,020 to €423,161
- Taxes -€60,991
down €60,991 (-92.7%), from €65,786 to €4,795
- Gross operating margin -€27,227
down €27,227 (-5.0%), from €545,022 to €517,794
- Depreciation +€19,621
up €19,621 (+40.0%), from €49,078 to €68,699
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 | €598,859 | €560,169 | -€38,690 | -6.5% |
| Fixed assets | 21/28 | €167,593 | €140,845 | -€26,747 | -16.0% |
| Intangible fixed assets | 21 | €9,055 | €6,023 | -€3,032 | -33.5% |
| Tangible fixed assets | 22/27 | €158,538 | €134,823 | -€23,715 | -15.0% |
| Plant, machinery and equipment | 23 | €81,845 | €69,719 | -€12,126 | -14.8% |
| Furniture and vehicles | 24 | €76,693 | €65,103 | -€11,589 | -15.1% |
| Current assets | 29/58 | €431,267 | €419,324 | -€11,943 | -2.8% |
| Stocks and contracts in progress | 3 | - | €101,145 | +€101,145 | |
| Stocks | 30/36 | - | €16,206 | +€16,206 | |
| Contracts in progress | 37 | - | €84,939 | +€84,939 | |
| Amounts receivable within one year | 40/41 | €343,679 | €235,733 | -€107,946 | -31.4% |
| Trade receivables | 40 | €91,276 | €113,440 | +€22,164 | +24.3% |
| Other amounts receivable | 41 | €252,403 | €122,293 | -€130,110 | -51.5% |
| Cash at bank and in hand | 54/58 | €87,100 | €79,169 | -€7,930 | -9.1% |
| Deferred charges and accrued income | 490/1 | €488 | €3,277 | +€2,789 | +571.5% |
| Total equity and liabilities | 10/49 | €598,859 | €560,169 | -€38,690 | -6.5% |
| Equity | 10/15 | €222,674 | €234,894 | +€12,220 | +5.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €219,674 | €231,894 | +€12,220 | +5.6% |
| Distributable reserves | 133 | €219,674 | €231,894 | +€12,220 | +5.6% |
| Amounts payable | 17/49 | €376,185 | €325,275 | -€50,910 | -13.5% |
| Amounts payable after more than one year | 17 | €9,044 | €458 | -€8,586 | -94.9% |
| Financial debts | 170/4 | €9,044 | €458 | -€8,586 | -94.9% |
| Amounts payable within one year | 42/48 | €362,208 | €324,817 | -€37,392 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €17,754 | €8,571 | -€9,183 | -51.7% |
| Trade debts | 44 | €73,393 | €47,421 | -€25,972 | -35.4% |
| Suppliers | 440/4 | €73,393 | €47,421 | -€25,972 | -35.4% |
| Taxes, remuneration and social security | 45 | €74,458 | €86,814 | +€12,356 | +16.6% |
| Taxes | 450/3 | €68,058 | €74,133 | +€6,074 | +8.9% |
| Remuneration and social security | 454/9 | €6,400 | €12,681 | +€6,281 | +98.1% |
| Other amounts payable | 47/48 | €196,604 | €182,011 | -€14,593 | -7.4% |
| Accrued charges and deferred income | 492/3 | €4,933 | - | -€4,933 | |
| Remuneration, social security and pensions | 62 | €280,020 | €423,161 | +€143,141 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,078 | €68,699 | +€19,621 | +40.0% |
| Other operating charges | 640/8 | €1,238 | €2,333 | +€1,095 | +88.4% |
| Gross operating margin | 9900 | €545,022 | €517,794 | -€27,227 | -5.0% |
| Operating profit (loss) | 9901 | €214,686 | €23,602 | -€191,084 | -89.0% |
| Financial income | 75/76B | €2,782 | €5,932 | +€3,151 | +113.3% |
| Recurring financial income | 75 | €2,782 | €5,932 | +€3,151 | +113.3% |
| Financial charges | 65/66B | €8,696 | €12,520 | +€3,824 | +44.0% |
| Recurring financial charges | 65 | €8,696 | €12,520 | +€3,824 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | €208,772 | €17,015 | -€191,757 | -91.9% |
| Income taxes | 67/77 | €65,786 | €4,795 | -€60,991 | -92.7% |
| Profit (loss) for the period | 9904 | €142,986 | €12,220 | -€130,766 | -91.5% |
| Profit (loss) for the period to be appropriated | 9905 | €142,986 | €12,220 | -€130,766 | -91.5% |
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 8 October 2026 via checked.be.