CSE CONSTRUCT: what changed
CSE CONSTRUCT
Largest movements
- Tangible fixed assets -€6,261
down €6,261 (-22.9%), from €27,300 to €21,039
of which Furniture and vehicles: -€6,051
- Cash +€5,742
up €5,742 (+116%), from €4,937 to €10,678
mainly Depreciation (+€6,261) and Other debts (+€5,600)
- Receivables within one year +€2,529
up €2,529 (+575%), from €440 to €2,968
of which Other amounts receivable: +€2,326
- Deferred charges and accrued income +€1,370
up €1,370 (+192%), from €715 to €2,085
- Other debts +€5,600
up €5,600 (+51.8%), from €10,815 to €16,415
- Current portion of long-term debt -€3,684
no longer reported in 2025 (was €3,684)
- Trade debts +€1,842
up €1,842 (+180%), from €1,024 to €2,866
- Gross operating margin +€6,219
up €6,219 (+181%), from €3,437 to €9,656
- Depreciation +€3,096
up €3,096 (+97.8%), from €3,165 to €6,261
- Taxes +€825
up €825 (+671%), from €123 to €948
- Other operating charges +€731
up €731 (+85.9%), from €851 to €1,582
- Financial charges +€426
up €426 (+55.5%), from €768 to €1,194
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,391 | €42,771 | +€3,380 | +8.6% |
| Fixed assets | 21/28 | €27,300 | €21,039 | -€6,261 | -22.9% |
| Tangible fixed assets | 22/27 | €27,300 | €21,039 | -€6,261 | -22.9% |
| Plant, machinery and equipment | 23 | €1,021 | €811 | -€210 | -20.6% |
| Furniture and vehicles | 24 | €26,279 | €20,228 | -€6,051 | -23.0% |
| Current assets | 29/58 | €12,091 | €21,732 | +€9,641 | +79.7% |
| Stocks and contracts in progress | 3 | €6,000 | €6,000 | = | 0.0% |
| Stocks | 30/36 | €6,000 | €6,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €440 | €2,968 | +€2,529 | +575% |
| Trade receivables | 40 | €47 | €250 | +€203 | +429% |
| Other amounts receivable | 41 | €392 | €2,718 | +€2,326 | +593% |
| Cash at bank and in hand | 54/58 | €4,937 | €10,678 | +€5,742 | +116% |
| Deferred charges and accrued income | 490/1 | €715 | €2,085 | +€1,370 | +192% |
| Total equity and liabilities | 10/49 | €39,391 | €42,771 | +€3,380 | +8.6% |
| Equity | 10/15 | €3,200 | €2,872 | -€328 | -10.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,800 | -€2,128 | -€328 | -18.2% |
| Amounts payable | 17/49 | €36,191 | €39,899 | +€3,708 | +10.2% |
| Amounts payable after more than one year | 17 | €14,546 | €14,546 | = | 0.0% |
| Financial debts | 170/4 | €14,546 | €14,546 | = | 0.0% |
| Amounts payable within one year | 42/48 | €21,645 | €25,352 | +€3,708 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €3,684 | - | -€3,684 | |
| Trade debts | 44 | €1,024 | €2,866 | +€1,842 | +180% |
| Suppliers | 440/4 | €1,024 | €2,866 | +€1,842 | +180% |
| Advances received on contracts in progress | 46 | €5,000 | €5,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,122 | €1,071 | -€51 | -4.5% |
| Taxes | 450/3 | €1,122 | €1,071 | -€51 | -4.5% |
| Other amounts payable | 47/48 | €10,815 | €16,415 | +€5,600 | +51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,165 | €6,261 | +€3,096 | +97.8% |
| Other operating charges | 640/8 | €851 | €1,582 | +€731 | +85.9% |
| Gross operating margin | 9900 | €3,437 | €9,656 | +€6,219 | +181% |
| Operating profit (loss) | 9901 | -€578 | €1,814 | +€2,392 | |
| Financial charges | 65/66B | €768 | €1,194 | +€426 | +55.5% |
| Recurring financial charges | 65 | €768 | €1,194 | +€426 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,346 | €620 | +€1,966 | |
| Income taxes | 67/77 | €123 | €948 | +€825 | +671% |
| Profit (loss) for the period | 9904 | -€1,469 | -€328 | +€1,141 | +77.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,469 | -€328 | +€1,141 | +77.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.