FRM Construct
Annual accounts 2025
micro format, filed on 28-08-2026, 28 days late€23,675
▲ 49.6%
€14,795
▲ 93.2%
€13,063
▲ 104%
€22,726
▲ 59.5%
70.0%
▲ 2.8 percentage points
2.30
▼ 0.32
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €290,000. Estimated: probably between €150,000 and €510,000.
Balance sheet
balance sheet total €74,716 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
70.0%
Higher than 79% of 9,462 companies in 2025.
2.30
Higher than 64% of 9,210 companies in 2025.
17.5%
Higher than 71% of 9,282 companies in 2025.
FRM Construct
Middle half of the sector
80% of the sector
Micro accounts in construction of buildings (NACE 41)
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff
Staff costs divided by the average number of full-time equivalents.
people who joined
people who left
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
74,716 | 57,394 | 63,816 | 86,270 | 80,578 | 83,350 | 72,248 | 92,761 | 66,149 | 69,385 | 46,057 | 63,876 | 72,394 | 69,888 | 84,649 | 44,822 | 67,041 | 60,480 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 60 | 240 | 420 | 600 | |
21/28 |
34,498 | 34,364 | 40,941 | 47,533 | 28,530 | 35,204 | 46,303 | 52,656 | 38,690 | 45,035 | 25,737 | 34,677 | 43,553 | 44,643 | 30,842 | 19,599 | 28,027 | 35,160 | |
22/27 |
34,498 | 34,364 | 40,941 | 47,533 | 28,530 | 35,204 | 46,303 | 52,656 | 38,690 | 45,035 | 25,737 | 34,677 | 43,553 | 44,643 | 30,782 | 19,359 | 27,607 | 34,560 | |
22 |
18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | 18,112 | - | - | - | - | |
23 |
6,497 | 1,756 | 2,834 | 3,560 | 4,418 | 5,386 | 4,981 | 5,418 | 2,451 | 3,154 | 3,948 | 5,635 | 7,480 | 10,203 | 8,697 | 12,305 | 16,463 | 19,242 | |
24 |
1,048 | 295 | 435 | 940 | 6,000 | 11,706 | 23,210 | 29,125 | 18,127 | 23,769 | 3,676 | 10,930 | 17,960 | 16,327 | 22,086 | 7,055 | 11,144 | 15,318 | |
25 |
8,840 | 14,200 | 19,560 | 24,920 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
29/58 |
40,218 | 23,031 | 22,874 | 38,737 | 52,048 | 48,146 | 25,945 | 40,106 | 27,460 | 24,350 | 20,320 | 29,199 | 28,841 | 25,245 | 53,806 | 25,223 | 39,014 | 25,320 | |
3 |
- | - | - | - | - | - | - | - | - | 172 | - | 759 | - | - | - | - | - | - | |
30/36 |
- | - | - | - | - | - | - | - | - | 172 | - | 759 | - | - | - | - | - | - | |
40/41 |
33,755 | 1,882 | 17,765 | 8,897 | 24,672 | 21,771 | 20,182 | 31,040 | 11,217 | 7,824 | 13,254 | 6,978 | 27,659 | 14,903 | 44,683 | 1,469 | 36,790 | 10,712 | |
40 |
15,226 | 1,588 | 15,000 | 4,541 | 24,359 | 21,771 | 19,345 | 28,637 | 10,378 | 5,638 | 10,487 | 6,978 | 27,659 | 11,370 | 44,679 | 1,046 | 36,790 | 9,218 | |
41 |
18,529 | 293 | 2,765 | 4,356 | 314 | - | 836 | 2,403 | 839 | 2,186 | 2,767 | - | - | 3,533 | 4 | 423 | - | 1,494 | |
54/58 |
3,671 | 18,440 | 2,561 | 27,724 | 26,562 | 25,460 | 4,924 | 8,239 | 15,822 | 14,902 | 6,357 | 20,407 | 61 | 8,988 | 7,847 | 22,622 | 1,414 | 13,448 | |
490/1 |
2,792 | 2,709 | 2,548 | 2,117 | 813 | 914 | 839 | 826 | 421 | 1,453 | 709 | 1,054 | 1,122 | 1,355 | 1,277 | 1,133 | 809 | 1,160 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
74,716 | 57,394 | 63,816 | 86,270 | 80,578 | 83,350 | 72,248 | 92,761 | 66,149 | 69,385 | 46,057 | 63,876 | 72,394 | 69,888 | 84,649 | 44,822 | 67,041 | 60,480 | |
10/15 |
52,306 | 38,595 | 32,193 | 33,649 | 49,947 | 48,535 | 32,861 | 44,246 | 30,959 | 27,907 | 25,393 | 21,832 | 24,101 | 21,979 | 24,337 | 20,553 | 24,146 | 21,441 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
13,296 | 13,296 | 13,296 | 13,296 | 13,296 | 13,296 | 13,296 | 13,296 | 12,359 | 9,307 | 6,793 | 5,735 | 5,735 | 5,735 | 5,735 | 5,546 | 5,546 | 2,841 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 923 | 770 | 645 | 466 | 466 | 466 | 466 | 277 | 277 | 142 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
11,436 | 11,436 | 11,436 | 11,436 | 11,436 | 11,436 | 11,436 | 11,436 | 11,436 | 8,536 | 6,148 | 5,269 | 5,269 | 5,269 | 5,269 | 5,269 | 5,269 | 2,699 | |
14 |
19,762 | 6,698 | 296 | 1,752 | 18,051 | 16,639 | 964 | 12,350 | - | - | - | -2,503 | -234 | -2,356 | 1 | -3,593 | - | - | |
15 |
648 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
16 |
216 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
168 |
216 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
22,194 | 18,800 | 31,623 | 52,621 | 30,630 | 34,815 | 39,387 | 48,515 | 35,190 | 41,479 | 20,664 | 42,044 | 48,293 | 47,909 | 60,312 | 24,269 | 42,894 | 39,038 | |
17 |
4,602 | 10,016 | 15,249 | 20,263 | 2,929 | 9,027 | 15,667 | 34,271 | 17,964 | 23,162 | 7,500 | 9,221 | 23,686 | 24,742 | 18,325 | 4,197 | 12,546 | 22,549 | |
170/4 |
4,323 | 9,737 | 14,971 | 19,985 | 2,650 | 8,382 | 13,074 | 31,684 | 13,415 | 18,162 | - | 3,221 | 12,686 | 21,742 | 15,325 | 2,197 | 8,546 | 14,549 | |
178/9 |
279 | 279 | 279 | 279 | 279 | 645 | 2,593 | 2,588 | 4,549 | 5,000 | 7,500 | 6,000 | 11,000 | 3,000 | 3,000 | 2,000 | 4,000 | 8,000 | |
42/48 |
17,492 | 8,784 | 16,273 | 32,258 | 24,818 | 24,188 | 22,121 | 12,644 | 15,481 | 16,717 | 13,064 | 31,224 | 22,806 | 19,544 | 38,287 | 14,387 | 24,652 | 13,489 | |
42 |
5,414 | 5,218 | 5,014 | 7,497 | 5,733 | 9,982 | 11,174 | 4,200 | 4,747 | 4,679 | 3,221 | 9,465 | 9,056 | 8,664 | 5,178 | 6,349 | 6,003 | 5,676 | |
43 |
- | - | - | - | - | - | 1,107 | - | - | - | - | - | 2,399 | - | - | - | - | - | |
430/8 |
- | - | - | - | - | - | 1,107 | - | - | - | - | - | 2,399 | - | - | - | - | - | |
44 |
6,528 | 1,064 | 8,216 | 20,230 | 11,685 | 7,947 | 7,051 | 4,874 | 8,219 | 10,385 | 9,126 | 19,924 | 9,142 | 9,380 | 24,020 | 5,966 | 14,192 | 5,771 | |
440/4 |
6,528 | 1,064 | 8,216 | 20,230 | 11,685 | 7,947 | 7,051 | 4,874 | 8,219 | 10,385 | 9,126 | 19,924 | 9,142 | 9,380 | 24,020 | 5,966 | 14,192 | 5,771 | |
45 |
5,550 | 2,502 | 3,043 | 4,530 | 7,401 | 6,259 | 2,789 | 3,569 | 2,514 | 1,653 | 717 | 1,834 | 2,209 | 1,500 | 9,089 | 2,072 | 4,457 | 2,042 | |
450/3 |
4,050 | 2,502 | 2,293 | 3,030 | 7,401 | 6,259 | 2,789 | 3,569 | 2,514 | 1,653 | 717 | 1,834 | 2,209 | 1,500 | 9,089 | 2,072 | 4,457 | 2,042 | |
454/9 |
1,500 | - | 750 | 1,500 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
492/3 |
100 | - | 100 | 100 | 2,884 | 1,600 | 1,600 | 1,600 | 1,745 | 1,600 | 100 | 1,600 | 1,800 | 3,623 | 3,700 | 5,686 | 5,696 | 3,000 | |
| Income statement | |||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | 600 | - | - | - | - | - | - | - | - | |
9900 |
23,675 | 15,827 | 8,690 | -3,288 | 11,605 | 32,858 | 6,870 | 31,085 | 17,494 | 16,476 | 15,675 | 9,838 | 17,444 | 13,728 | 19,087 | 8,772 | 15,741 | 19,530 | |
62 |
- | - | - | - | - | - | - | - | 2,351 | 731 | 157 | 74 | 1,673 | 1,747 | 2,086 | 200 | 864 | 196 | |
630 |
7,348 | 6,578 | 7,193 | 8,848 | 7,699 | 13,511 | 13,482 | 19,210 | 7,604 | 8,937 | 10,288 | 10,341 | 11,411 | 12,298 | 12,100 | 10,440 | 10,168 | 13,291 | |
631/4 |
- | - | - | - | - | - | - | 16 | - | 1,663 | - | - | - | - | - | - | - | - | |
640/8 |
1,533 | 1,593 | 1,299 | 1,438 | 934 | 615 | 1,149 | 614 | 1,190 | 1,093 | 778 | 849 | 496 | 447 | 496 | 496 | 149 | 298 | |
66A |
- | - | - | 1,000 | - | 53 | 117 | 75 | 50 | - | 220 | - | - | 90 | - | 130 | - | 100 | |
9901 |
14,795 | 7,656 | 198 | -14,573 | 2,972 | 18,678 | -7,878 | 11,170 | 6,299 | 4,052 | 4,452 | -1,426 | 3,863 | -764 | 4,405 | -2,363 | 4,560 | 5,745 | |
75/76B |
1,037 | 6 | 3 | 20 | 12 | 679 | 200 | 6,704 | - | 84 | 214 | 229 | - | 38 | 16 | 29 | 145 | 90 | |
75 |
1,037 | 6 | 3 | 20 | 12 | 679 | 200 | 4 | - | 84 | 214 | 229 | - | 38 | 16 | 29 | 145 | 90 | |
76B |
- | - | - | - | - | - | - | 6,700 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
837 | 1,033 | 1,400 | 1,242 | 577 | 676 | 784 | 1,117 | 1,002 | 589 | 787 | 1,000 | 1,741 | 1,541 | 638 | 1,129 | 1,428 | 2,350 | |
65 |
837 | 1,033 | 1,400 | 1,242 | 577 | 676 | 784 | 1,117 | 1,002 | 589 | 787 | 1,000 | 1,741 | 1,541 | 638 | 1,129 | 1,428 | 2,350 | |
9903 |
14,995 | 6,629 | -1,199 | -15,795 | 2,407 | 18,681 | -8,462 | 16,757 | 5,297 | 3,547 | 3,659 | -2,197 | 2,122 | -2,357 | 3,783 | -3,593 | 3,276 | 3,385 | |
780 |
54 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
67/77 |
1,986 | 227 | 257 | 504 | 994 | 3,007 | 208 | 3,470 | 2,244 | 1,034 | 98 | 72 | - | - | - | - | 572 | 544 | |
9904 |
13,063 | 6,402 | -1,456 | -16,299 | 1,412 | 15,674 | -8,669 | 13,287 | 3,053 | 2,514 | 3,561 | -2,269 | 2,122 | -2,357 | 3,783 | -3,593 | 2,705 | 2,841 | |
9905 |
13,063 | 6,402 | -1,456 | -16,299 | 1,412 | 15,674 | -8,669 | 13,287 | 3,053 | 2,514 | 3,561 | -2,269 | 2,122 | -2,357 | 3,783 | -3,593 | 2,705 | 2,841 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
19,762 | 6,698 | 296 | 1,752 | 18,051 | 16,639 | 964 | 13,287 | 3,053 | 2,514 | 1,057 | -2,503 | -234 | -2,356 | 190 | -3,593 | 2,705 | 2,841 | |
14P |
6,698 | 296 | 1,752 | 18,051 | 16,639 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | 937 | 3,053 | 2,514 | 1,057 | - | - | - | 189 | - | 2,705 | 2,841 | |
6920 |
- | - | - | - | - | - | - | 937 | 153 | 126 | 178 | - | - | - | 189 | - | 135 | 142 | |
6921 |
- | - | - | - | - | - | - | - | 2,900 | 2,388 | 879 | - | - | - | - | - | 2,570 | 2,699 | |
| Social balance sheet | |||||||||||||||||||
9087 |
- | - | - | - | - | - | - | - | - | - | - | - | 0.1 | 0.1 | 0.1 | - | - | - | |
Hours worked1013 |
- | - | - | - | - | - | - | - | - | - | - | - | 104 | 146 | 146 | - | - | - | |
| Document | |||||||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 28 days after the deadline. Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00494942.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00494942 | |
| 31-12-2024 | micro format | 14-08-2025 | 2025-00390428 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00304117 | |
| 31-12-2022 | micro format | 05-09-2023 | 2023-00444586 | |
| 31-12-2021 | micro format | 23-08-2022 | 2022-20338690 | |
| 31-12-2020 | micro format | 07-07-2021 | 2021-32400598 | |
| 31-12-2019 | micro format | 06-07-2020 | 2020-27300098 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-58500465 | |
| 31-12-2017 | micro format | 27-08-2018 | 2018-57900246 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-58800268 | |
| 31-12-2015 | full format | 28-08-2016 | 2016-54600564 | |
| 31-12-2014 | full format | 26-08-2015 | 2015-49200333 | |
| 31-12-2013 | full format | 29-08-2014 | 2014-53700440 | |
| 31-12-2012 | full format | 27-08-2013 | 2013-54700011 | |
| 31-12-2011 | full format | 22-08-2012 | 2012-45800329 | |
| 31-12-2010 | full format | 31-08-2011 | 2011-52700320 | |
| 31-12-2009 | full format | 29-09-2010 | 2010-56700060 | |
| 31-12-2008 | full format | 30-08-2009 | 2009-72800097 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22,142 | 14,234 | 7,391 | -5,725 | 10,671 | 32,190 | 5,604 | 30,380 | 13,903 | 12,990 | 14,740 | 8,915 | 15,275 | 11,534 | 16,505 | 8,076 | 14,728 | 19,036 | ||
| 20,411 | 12,980 | 5,737 | -7,451 | 9,112 | 29,185 | 4,813 | 32,497 | 10,657 | 11,451 | 13,849 | 8,071 | 13,534 | 9,941 | 15,883 | 6,847 | 12,873 | 16,133 | ||
| 7,482 | 0 | 602 | 28,850 | 1,025 | 2,412 | 1,895 | 33,176 | 1,258 | 31,836 | 1,347 | 1,465 | 10,321 | 26,099 | 29,303 | 2,013 | 3,035 | 47,551 | ||
| -14,769 | 15,879 | -25,163 | 1,161 | 1,102 | 20,536 | -3,315 | -7,583 | 920 | 8,545 | -14,051 | 20,346 | -8,927 | 1,141 | -14,775 | 21,207 | -12,034 | - | ||
| 22,726 | 14,247 | 6,601 | 6,479 | 27,230 | 23,958 | 3,824 | 27,462 | 11,979 | 7,633 | 7,256 | -2,024 | 6,035 | 5,701 | 15,519 | 10,836 | 14,362 | 11,831 | ||
| 70.0% | 67.2% | 50.4% | 39.0% | 62.0% | 58.2% | 45.5% | 47.7% | 46.8% | 40.2% | 55.1% | 34.2% | 33.3% | 31.4% | 28.8% | 45.9% | 36.0% | 35.5% | ||
| 2.30 | 2.62 | 1.41 | 1.20 | 2.10 | 1.99 | 1.17 | 3.17 | 1.77 | 1.46 | 1.56 | 0.94 | 1.26 | 1.29 | 1.41 | 1.75 | 1.58 | 1.88 | ||
| 2.30 | 2.62 | 1.41 | 1.20 | 2.10 | 1.99 | 1.17 | 3.17 | 1.77 | 1.45 | 1.56 | 0.91 | 1.26 | 1.29 | 1.41 | 1.75 | 1.58 | 1.88 | ||
| 0.42 | 0.49 | 0.98 | 1.56 | 0.61 | 0.72 | 1.20 | 1.10 | 1.14 | 1.49 | 0.81 | 1.93 | 2.00 | 2.18 | 2.48 | 1.18 | 1.78 | 1.82 | ||
| 25.0% | 16.6% | -4.5% | -48.4% | 2.8% | 32.3% | -26.4% | 30.0% | 9.9% | 9.0% | 14.0% | -10.4% | 8.8% | -10.7% | 15.5% | -17.5% | 11.2% | 13.3% | ||
| 17.5% | 11.2% | -2.3% | -18.9% | 1.8% | 18.8% | -12.0% | 14.3% | 4.6% | 3.6% | 7.7% | -3.6% | 2.9% | -3.4% | 4.5% | -8.0% | 4.0% | 4.7% | ||
| 26.46 | 13.77 | 5.28 | -4.61 | 18.48 | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | - | - | - | €22,000 | €52,416 |
| Carrying value of the other pledged assets | - | - | - | - | €5,235 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,482 | - | €602 | €28,850 | €1,025 |
| €7,348 | €6,578 | €7,193 | €8,848 | €7,699 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on FRM Construct
The operating result for 2025 is 93% higher than in 2024 and the highest since 2020. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 32.8% to 29.7%. Equity and debt are higher.