F & F 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.
What changed
F & F CONSTRUCT
NACE 42.110, Construction of roads and motorways
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€61,096
2024 · -€69,651+€130,747
Equity
€429,548
2024 · €368,452+€61,096
Cash
€625
2024 · €36,628-€36,003
Balance sheet total
€3.5m
2024 · €4.0m-€483,322
Largest movements
Assets
- Receivables within one year -€576,178
down €576,178 (-28.3%), from €2.0m to €1.5m
of which Other amounts receivable: -€596,185
- Receivables after one year +€350,000
new in 2025: €350,000
- Stocks and contracts -€110,687
down €110,687 (-14.7%), from €751,789 to €641,103
of which Contracts in progress: -€63,165
- Tangible fixed assets -€94,829
down €94,829 (-20.5%), from €462,054 to €367,225
Equity and liabilities
- Tax, wage and social debts -€322,147
down €322,147 (-42.0%), from €766,120 to €443,973
of which Remuneration and social security: -€343,013
- Debts after one year -€143,407
down €143,407 (-20.0%), from €716,907 to €573,500
- Profit (loss) carried forward +€61,096
up €61,096 (+45.3%), from -€134,846 to -€73,750
- Current portion of long-term debt -€51,203
down €51,203 (-42.5%), from €120,348 to €69,145
Income statement
- Gross operating margin -€243,447
down €243,447 (-7.0%), from €3.5m to €3.2m
- Financial charges -€193,073
down €193,073 (-44.5%), from €433,614 to €240,541
- Depreciation -€114,851
down €114,851 (-34.8%), from €329,931 to €215,080
- Staff costs -€114,427
down €114,427 (-4.3%), from €2.6m to €2.5m
- Taxes +€35,766
up €35,766 (+4709.2%), from €759 to €36,526
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.
Result 2024
-€69,651
Gross operating margin
-€243,447
Staff costs
+€114,427
Depreciation
+€114,851
Write-downs
+€23,565
Other operating charges
-€21,808
Other operating items
-€9,206
Financial income
-€4,941
Financial charges
+€193,073
Taxes
-€35,766
Result 2025
€61,096
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.
From operations
+€282,631
Investment
-€132,428
Financing
-€186,206
Cash 2024
€36,628
From operations (derived)
+€282,631
Net result for the year
+€61,096
Depreciation
+€215,080
Receivables after one year
-€350,000
Stocks and contracts
+€110,687
Receivables within one year
+€576,178
Deferred charges and accrued income
+€27,803
Trade debts
-€29,112
Tax, wage and social debts
-€322,147
Other debts
-€6,836
Accrued charges and deferred income
-€118
Investment (derived)
-€132,428
Investment in fixed assets (net)
-€132,428
Financing
-€186,206
Debts after one year
-€143,407
Current portion of long-term debt
-€51,203
Short-term financial debts
+€8,405
Cash 2025
€625
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,969,269 | €3,485,947 | -€483,322 | -12.2% |
| Fixed assets | 21/28 | €1,052,483 | €969,832 | -€82,651 | -7.9% |
| Intangible fixed assets | 21 | €60,919 | €55,796 | -€5,123 | -8.4% |
| Tangible fixed assets | 22/27 | €462,054 | €367,225 | -€94,829 | -20.5% |
| Land and buildings | 22 | €195,010 | €172,267 | -€22,743 | -11.7% |
| Plant, machinery and equipment | 23 | €103,605 | €60,511 | -€43,095 | -41.6% |
| Furniture and vehicles | 24 | €110,105 | €85,182 | -€24,923 | -22.6% |
| Leasing and similar rights | 25 | €15,989 | €831 | -€15,158 | -94.8% |
| Other tangible fixed assets | 26 | €37,344 | €48,435 | +€11,091 | +29.7% |
| Financial fixed assets | 28 | €529,510 | €546,810 | +€17,301 | +3.3% |
| Current assets | 29/58 | €2,916,786 | €2,516,115 | -€400,671 | -13.7% |
| Amounts receivable after more than one year | 29 | - | €350,000 | +€350,000 | |
| Other amounts receivable | 291 | - | €350,000 | +€350,000 | |
| Stocks and contracts in progress | 3 | €751,789 | €641,103 | -€110,687 | -14.7% |
| Stocks | 30/36 | €313,316 | €265,795 | -€47,521 | -15.2% |
| Contracts in progress | 37 | €438,473 | €375,308 | -€63,165 | -14.4% |
| Amounts receivable within one year | 40/41 | €2,037,044 | €1,460,865 | -€576,178 | -28.3% |
| Trade receivables | 40 | €838,756 | €858,762 | +€20,007 | +2.4% |
| Other amounts receivable | 41 | €1,198,288 | €602,103 | -€596,185 | -49.8% |
| Cash at bank and in hand | 54/58 | €36,628 | €625 | -€36,003 | -98.3% |
| Deferred charges and accrued income | 490/1 | €91,325 | €63,522 | -€27,803 | -30.4% |
| Total equity and liabilities | 10/49 | €3,969,269 | €3,485,947 | -€483,322 | -12.2% |
| Equity | 10/15 | €368,452 | €429,548 | +€61,096 | +16.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €3,297 | €3,297 | = | 0.0% |
| Distributable reserves | 133 | €3,297 | €3,297 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,846 | -€73,750 | +€61,096 | +45.3% |
| Amounts payable | 17/49 | €3,600,817 | €3,056,399 | -€544,418 | -15.1% |
| Amounts payable after more than one year | 17 | €716,907 | €573,500 | -€143,407 | -20.0% |
| Financial debts | 170/4 | €716,907 | €573,500 | -€143,407 | -20.0% |
| Amounts payable within one year | 42/48 | €2,883,792 | €2,482,899 | -€400,893 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €120,348 | €69,145 | -€51,203 | -42.5% |
| Financial debts | 43 | €650,000 | €658,405 | +€8,405 | +1.3% |
| Credit institutions | 430/8 | €650,000 | €658,405 | +€8,405 | +1.3% |
| Trade debts | 44 | €1,340,488 | €1,311,377 | -€29,112 | -2.2% |
| Suppliers | 440/4 | €1,340,488 | €1,311,377 | -€29,112 | -2.2% |
| Taxes, remuneration and social security | 45 | €766,120 | €443,973 | -€322,147 | -42.0% |
| Taxes | 450/3 | €21,898 | €42,764 | +€20,866 | +95.3% |
| Remuneration and social security | 454/9 | €744,222 | €401,209 | -€343,013 | -46.1% |
| Other amounts payable | 47/48 | €6,836 | €0 | -€6,836 | -100.0% |
| Accrued charges and deferred income | 492/3 | €118 | €0 | -€118 | -100.0% |
| Non-recurring operating income | 76A | €156,944 | €14,047 | -€142,898 | -91.0% |
| Remuneration, social security and pensions | 62 | €2,640,419 | €2,525,992 | -€114,427 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329,931 | €215,080 | -€114,851 | -34.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,409 | -€8,156 | -€23,565 | |
| Other operating charges | 640/8 | €132,694 | €154,502 | +€21,808 | +16.4% |
| Non-recurring operating charges | 66A | - | €9,206 | +€9,206 | |
| Gross operating margin | 9900 | €3,461,081 | €3,217,634 | -€243,447 | -7.0% |
| Operating profit (loss) | 9901 | €342,628 | €321,009 | -€21,619 | -6.3% |
| Financial income | 75/76B | €22,095 | €17,154 | -€4,941 | -22.4% |
| Recurring financial income | 75 | €22,095 | €17,154 | -€4,941 | -22.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €433,614 | €240,541 | -€193,073 | -44.5% |
| Recurring financial charges | 65 | €433,614 | €240,541 | -€193,073 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | -€68,892 | €97,622 | +€166,514 | |
| Income taxes | 67/77 | €759 | €36,526 | +€35,766 | +4709.2% |
| Profit (loss) for the period | 9904 | -€69,651 | €61,096 | +€130,747 | |
| Profit (loss) for the period to be appropriated | 9905 | -€69,651 | €61,096 | +€130,747 |
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 11 October 2026 via checked.be.