Contracts in progress (Tables)

12 Months Ended

Dec. 31, 2025

Contracts in progress

Summary of information relative to revenue recognized and amounts billed on contracts in progress

Revenue recognized and amounts billed on contracts in progress are summarized as follows:

	December 31,
	2025		2024
Revenue recognized to date on contracts in progress	$	127,237,229	$	114,590,991
Amounts billed to date on contracts in progress		(138,121,977)		(121,833,354)
Retainage		2,646,929		2,585,952
Net contract liability	$	(8,237,819)	$	(4,656,411)

The above net balances are reflected in the accompanying consolidated balance sheet as follows:

	December 31,
	2025		2024
Contract assets	$	3,290,815	$	4,470,243
Contract liabilities		(11,528,634)		(9,126,654)
Net contract liability	$	(8,237,819)	$	(4,656,411)