FG-Construct: what changed
Two fiscal 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.
FG-Construct
Largest movements
- Receivables within one year +€61,752
up €61,752 (+81.7%), from €75,567 to €137,318
of which Other amounts receivable: +€32,214
- Cash -€20,392
down €20,392 (-31.6%), from €64,507 to €44,116
mainly Receivables within one year (-€61,752) and Debts after one year (-€17,025)
- Tangible fixed assets -€17,258
down €17,258 (-27.0%), from €63,808 to €46,550
- Financial fixed assets +€4,185
new in 2025: €4,185
- Deferred charges and accrued income +€3,808
up €3,808 (+129.0%), from €2,951 to €6,760
- Reserves +€43,345
up €43,345 (+47.7%), from €90,898 to €134,243
- Debts after one year -€17,025
down €17,025 (-63.3%), from €26,911 to €9,886
of which Financial debts: -€17,025
- Tax, wage and social debts +€8,107
up €8,107 (+40.0%), from €20,280 to €28,387
of which Taxes: +€8,809
- Trade debts -€4,554
down €4,554 (-9.2%), from €49,311 to €44,757
- Gross operating margin -€43,504
down €43,504 (-35.4%), from €122,913 to €79,409
- Staff costs -€10,410
down €10,410 (-97.7%), from €10,653 to €243
- Taxes -€6,417
down €6,417 (-33.0%), from €19,439 to €13,022
- Financial income +€2,114
up €2,114 (+536.4%), from €394 to €2,508
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 | €206,833 | €238,928 | +€32,095 | +15.5% |
| Fixed assets | 21/28 | €63,808 | €50,735 | -€13,073 | -20.5% |
| Tangible fixed assets | 22/27 | €63,808 | €46,550 | -€17,258 | -27.0% |
| Plant, machinery and equipment | 23 | €8,247 | €5,912 | -€2,335 | -28.3% |
| Furniture and vehicles | 24 | €33,202 | €25,705 | -€7,497 | -22.6% |
| Leasing and similar rights | 25 | €22,358 | €14,933 | -€7,426 | -33.2% |
| Financial fixed assets | 28 | - | €4,185 | +€4,185 | |
| Current assets | 29/58 | €143,025 | €188,194 | +€45,168 | +31.6% |
| Amounts receivable within one year | 40/41 | €75,567 | €137,318 | +€61,752 | +81.7% |
| Trade receivables | 40 | €37,715 | €67,253 | +€29,538 | +78.3% |
| Other amounts receivable | 41 | €37,851 | €70,065 | +€32,214 | +85.1% |
| Cash at bank and in hand | 54/58 | €64,507 | €44,116 | -€20,392 | -31.6% |
| Deferred charges and accrued income | 490/1 | €2,951 | €6,760 | +€3,808 | +129.0% |
| Total equity and liabilities | 10/49 | €206,833 | €238,928 | +€32,095 | +15.5% |
| Equity | 10/15 | €93,898 | €137,243 | +€43,345 | +46.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €90,898 | €134,243 | +€43,345 | +47.7% |
| Distributable reserves | 133 | €90,898 | €134,243 | +€43,345 | +47.7% |
| Amounts payable | 17/49 | €112,935 | €101,685 | -€11,250 | -10.0% |
| Amounts payable after more than one year | 17 | €26,911 | €9,886 | -€17,025 | -63.3% |
| Financial debts | 170/4 | €26,911 | €9,886 | -€17,025 | -63.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €86,024 | €91,799 | +€5,775 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €16,432 | €17,025 | +€593 | +3.6% |
| Financial debts | 43 | - | €1,629 | +€1,629 | |
| Credit institutions | 430/8 | - | €1,629 | +€1,629 | |
| Trade debts | 44 | €49,311 | €44,757 | -€4,554 | -9.2% |
| Suppliers | 440/4 | €49,311 | €44,757 | -€4,554 | -9.2% |
| Taxes, remuneration and social security | 45 | €20,280 | €28,387 | +€8,107 | +40.0% |
| Taxes | 450/3 | €19,578 | €28,387 | +€8,809 | +45.0% |
| Remuneration and social security | 454/9 | €703 | €0 | -€703 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €10,653 | €243 | -€10,410 | -97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,817 | €20,110 | +€293 | +1.5% |
| Other operating charges | 640/8 | €902 | €1,690 | +€788 | +87.3% |
| Gross operating margin | 9900 | €122,913 | €79,409 | -€43,504 | -35.4% |
| Operating profit (loss) | 9901 | €91,541 | €57,366 | -€34,175 | -37.3% |
| Financial income | 75/76B | €394 | €2,508 | +€2,114 | +536.4% |
| Recurring financial income | 75 | €394 | €2,508 | +€2,114 | +536.4% |
| Financial charges | 65/66B | €2,449 | €3,507 | +€1,058 | +43.2% |
| Recurring financial charges | 65 | €2,449 | €3,507 | +€1,058 | +43.2% |
| Profit (loss) for the period before taxes | 9903 | €89,486 | €56,367 | -€33,119 | -37.0% |
| Income taxes | 67/77 | €19,439 | €13,022 | -€6,417 | -33.0% |
| Profit (loss) for the period | 9904 | €70,048 | €43,345 | -€26,702 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,048 | €43,345 | -€26,702 | -38.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.