X 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.
X CONSTRUCT
Largest movements
- Receivables within one year +€115,048
up €115,048 (+10.1%), from €1.1m to €1.3m
- Stocks and contracts -€22,981
down €22,981 (-28.6%), from €80,433 to €57,452
- Reserves +€245,571
up €245,571 (+23.1%), from €1.1m to €1.3m
- Other debts -€142,800
no longer reported in 2025 (was €142,800)
- Gross operating margin +€172,596
up €172,596 (+108.6%), from €158,882 to €331,478
- Taxes +€43,929
up €43,929 (+111.0%), from €39,565 to €83,494
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 | €1,223,456 | €1,326,226 | +€102,771 | +8.4% |
| Current assets | 29/58 | €1,223,456 | €1,326,226 | +€102,771 | +8.4% |
| Stocks and contracts in progress | 3 | €80,433 | €57,452 | -€22,981 | -28.6% |
| Stocks | 30/36 | €80,433 | €57,452 | -€22,981 | -28.6% |
| Amounts receivable within one year | 40/41 | €1,141,808 | €1,256,855 | +€115,048 | +10.1% |
| Other amounts receivable | 41 | €1,141,808 | €1,256,855 | +€115,048 | +10.1% |
| Cash at bank and in hand | 54/58 | €1,215 | €11,919 | +€10,704 | +881.1% |
| Total equity and liabilities | 10/49 | €1,223,456 | €1,326,226 | +€102,771 | +8.4% |
| Equity | 10/15 | €1,080,656 | €1,326,226 | +€245,571 | +22.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,062,056 | €1,307,626 | +€245,571 | +23.1% |
| Distributable reserves | 133 | €1,062,056 | €1,307,626 | +€245,571 | +23.1% |
| Amounts payable | 17/49 | €142,800 | - | -€142,800 | |
| Amounts payable within one year | 42/48 | €142,800 | - | -€142,800 | |
| Other amounts payable | 47/48 | €142,800 | - | -€142,800 | |
| Other operating charges | 640/8 | €1,222 | €1,126 | -€95 | -7.8% |
| Gross operating margin | 9900 | €158,882 | €331,478 | +€172,596 | +108.6% |
| Operating profit (loss) | 9901 | €157,660 | €330,351 | +€172,691 | +109.5% |
| Financial charges | 65/66B | €1,199 | €1,286 | +€87 | +7.2% |
| Recurring financial charges | 65 | €1,199 | €1,286 | +€87 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €156,461 | €329,065 | +€172,605 | +110.3% |
| Income taxes | 67/77 | €39,565 | €83,494 | +€43,929 | +111.0% |
| Profit (loss) for the period | 9904 | €116,895 | €245,571 | +€128,675 | +110.1% |
| Profit (loss) for the period to be appropriated | 9905 | €116,895 | €245,571 | +€128,675 | +110.1% |
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 10 October 2026 via checked.be.