FDG-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.
FDG-Construct
Largest movements
- Receivables within one year +€20,749
up €20,749 (+22.6%), from €91,855 to €112,604
of which Trade receivables: +€13,468
- Tangible fixed assets -€9,900
down €9,900 (-6.4%), from €154,093 to €144,193
of which Land and buildings: -€8,450
- Cash -€6,760
down €6,760 (-12.1%), from €55,797 to €49,037
mainly Net result for the year (-€23,111) and Receivables within one year (-€20,749)
- Profit (loss) carried forward -€23,111
down €23,111 (-71.8%), from -€32,180 to -€55,291
- Debts after one year +€13,820
up €13,820 (+9.1%), from €151,782 to €165,602
- Trade debts +€5,770
up €5,770 (+35.2%), from €16,399 to €22,169
- Current portion of long-term debt +€4,841
up €4,841 (+18.8%), from €25,724 to €30,565
- Gross operating margin -€47,087
down €47,087, from €44,793 to -€2,294
- Financial charges -€2,811
down €2,811 (-24.9%), from €11,295 to €8,485
- Depreciation +€667
up €667 (+6.3%), from €10,554 to €11,222
- Other operating charges +€491
up €491 (+15.1%), from €3,257 to €3,748
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 | €309,451 | €312,882 | +€3,431 | +1.1% |
| Fixed assets | 21/28 | €157,694 | €148,648 | -€9,046 | -5.7% |
| Intangible fixed assets | 21 | €3,531 | €4,385 | +€854 | +24.2% |
| Tangible fixed assets | 22/27 | €154,093 | €144,193 | -€9,900 | -6.4% |
| Land and buildings | 22 | €149,640 | €141,190 | -€8,450 | -5.6% |
| Plant, machinery and equipment | 23 | €4,453 | €3,004 | -€1,450 | -32.6% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €151,757 | €164,234 | +€12,477 | +8.2% |
| Amounts receivable within one year | 40/41 | €91,855 | €112,604 | +€20,749 | +22.6% |
| Trade receivables | 40 | €56,941 | €70,409 | +€13,468 | +23.7% |
| Other amounts receivable | 41 | €34,913 | €42,195 | +€7,281 | +20.9% |
| Cash at bank and in hand | 54/58 | €55,797 | €49,037 | -€6,760 | -12.1% |
| Deferred charges and accrued income | 490/1 | €4,106 | €2,594 | -€1,512 | -36.8% |
| Total equity and liabilities | 10/49 | €309,451 | €312,882 | +€3,431 | +1.1% |
| Equity | 10/15 | €111,482 | €88,371 | -€23,111 | -20.7% |
| Contributions | 10/11 | €100,306 | €100,306 | = | 0.0% |
| Reserves | 13 | €43,356 | €43,356 | = | 0.0% |
| Distributable reserves | 133 | €43,356 | €43,356 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,180 | -€55,291 | -€23,111 | -71.8% |
| Amounts payable | 17/49 | €197,969 | €224,511 | +€26,543 | +13.4% |
| Amounts payable after more than one year | 17 | €151,782 | €165,602 | +€13,820 | +9.1% |
| Financial debts | 170/4 | €151,782 | €165,602 | +€13,820 | +9.1% |
| Amounts payable within one year | 42/48 | €46,187 | €58,909 | +€12,723 | +27.5% |
| Current portion of amounts payable after more than one year | 42 | €25,724 | €30,565 | +€4,841 | +18.8% |
| Trade debts | 44 | €16,399 | €22,169 | +€5,770 | +35.2% |
| Suppliers | 440/4 | €16,399 | €22,169 | +€5,770 | +35.2% |
| Taxes, remuneration and social security | 45 | €4,063 | €6,174 | +€2,111 | +51.9% |
| Taxes | 450/3 | €4,063 | €6,174 | +€2,111 | +51.9% |
| Remuneration, social security and pensions | 62 | €447 | €130 | -€316 | -70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,554 | €11,222 | +€667 | +6.3% |
| Other operating charges | 640/8 | €3,257 | €3,748 | +€491 | +15.1% |
| Gross operating margin | 9900 | €44,793 | -€2,294 | -€47,087 | |
| Operating profit (loss) | 9901 | €30,535 | -€17,394 | -€47,929 | |
| Financial income | 75/76B | €2,864 | €2,900 | +€35 | +1.2% |
| Recurring financial income | 75 | €2,864 | €2,900 | +€35 | +1.2% |
| Financial charges | 65/66B | €11,295 | €8,485 | -€2,811 | -24.9% |
| Recurring financial charges | 65 | €11,295 | €8,485 | -€2,811 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €22,104 | -€22,979 | -€45,084 | |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | €21,976 | -€23,111 | -€45,088 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,976 | -€23,111 | -€45,088 |
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 9 October 2026 via checked.be.