Fieuw Exclusive: what changed
What changed
Fieuw Exclusive
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€12,610
2024 · €27,204-€14,595
Equity
€92,718
2024 · €100,108-€7,391
Cash
€554
2024 · €34+€520
Balance sheet total
€225,011
2024 · €256,476-€31,464
Largest movements
Assets
- Stocks and contracts -€17,460
down €17,460 (-21.8%), from €80,210 to €62,750
of which Stocks: -€21,761
- Tangible fixed assets -€16,351
down €16,351 (-16.8%), from €97,404 to €81,053
of which Other tangible fixed assets: -€13,947
- Receivables within one year +€2,702
up €2,702 (+3.7%), from €73,300 to €76,002
of which Trade receivables: +€5,169
Equity and liabilities
- Trade debts -€24,989
down €24,989 (-40.9%), from €61,092 to €36,103
- Debts after one year -€23,811
down €23,811 (-61.3%), from €38,874 to €15,063
- Short-term financial debts +€8,486
up €8,486 (+515%), from €1,648 to €10,134
- Reserves -€7,391
down €7,391 (-9.1%), from €81,558 to €74,168
of which Distributable reserves: -€7,391
- Other debts +€6,367
up €6,367 (+44.4%), from €14,351 to €20,719
Income statement
- Staff costs +€102,305
up €102,305 (+120%), from €85,408 to €187,713
- Gross operating margin +€86,784
up €86,784 (+54.3%), from €159,821 to €246,605
- Taxes -€2,867
down €2,867 (-30.1%), from €9,529 to €6,662
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€27,204
Gross operating margin
+€86,784
Staff costs
-€102,305
Depreciation
-€916
Other operating charges
-€38
Financial income
-€1,202
Financial charges
+€215
Taxes
+€2,867
Result 2025
€12,610
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€48,620
Investment
-€16,835
Financing
-€31,265
Cash 2024
€34
From operations (derived)
+€48,620
Net result for the year
+€12,610
Depreciation
+€33,186
Stocks and contracts
+€17,460
Receivables within one year
-€2,702
Deferred charges and accrued income
+€875
Trade debts
-€24,989
Tax, wage and social debts
+€4,574
Other debts
+€6,367
Accrued charges and deferred income
+€1,239
Investment (derived)
-€16,835
Investment in fixed assets (net)
-€16,835
Financing
-€31,265
Debts after one year
-€23,811
Current portion of long-term debt
+€4,060
Short-term financial debts
+€8,486
Contributions, distributions and other
-€20,000
Cash 2025
€554
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €256,476 | €225,011 | -€31,464 | -12.3% |
| Fixed assets | 21/28 | €97,404 | €81,053 | -€16,351 | -16.8% |
| Tangible fixed assets | 22/27 | €97,404 | €81,053 | -€16,351 | -16.8% |
| Plant, machinery and equipment | 23 | €7,056 | €7,336 | +€280 | +4.0% |
| Furniture and vehicles | 24 | €39,719 | €37,035 | -€2,684 | -6.8% |
| Other tangible fixed assets | 26 | €50,629 | €36,682 | -€13,947 | -27.5% |
| Current assets | 29/58 | €159,072 | €143,959 | -€15,113 | -9.5% |
| Stocks and contracts in progress | 3 | €80,210 | €62,750 | -€17,460 | -21.8% |
| Stocks | 30/36 | €57,793 | €36,032 | -€21,761 | -37.7% |
| Contracts in progress | 37 | €22,417 | €26,718 | +€4,301 | +19.2% |
| Amounts receivable within one year | 40/41 | €73,300 | €76,002 | +€2,702 | +3.7% |
| Trade receivables | 40 | €55,412 | €60,581 | +€5,169 | +9.3% |
| Other amounts receivable | 41 | €17,888 | €15,421 | -€2,467 | -13.8% |
| Cash at bank and in hand | 54/58 | €34 | €554 | +€520 | +1,529% |
| Deferred charges and accrued income | 490/1 | €5,528 | €4,653 | -€875 | -15.8% |
| Total equity and liabilities | 10/49 | €256,476 | €225,011 | -€31,464 | -12.3% |
| Equity | 10/15 | €100,108 | €92,718 | -€7,391 | -7.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €81,558 | €74,168 | -€7,391 | -9.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €79,703 | €72,313 | -€7,391 | -9.3% |
| Amounts payable | 17/49 | €156,367 | €132,294 | -€24,074 | -15.4% |
| Amounts payable after more than one year | 17 | €38,874 | €15,063 | -€23,811 | -61.3% |
| Financial debts | 170/4 | €38,874 | €15,063 | -€23,811 | -61.3% |
| Amounts payable within one year | 42/48 | €117,493 | €115,992 | -€1,502 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €26,797 | €30,856 | +€4,060 | +15.2% |
| Financial debts | 43 | €1,648 | €10,134 | +€8,486 | +515% |
| Credit institutions | 430/8 | €1,648 | €10,134 | +€8,486 | +515% |
| Trade debts | 44 | €61,092 | €36,103 | -€24,989 | -40.9% |
| Suppliers | 440/4 | €61,092 | €36,103 | -€24,989 | -40.9% |
| Taxes, remuneration and social security | 45 | €13,606 | €18,180 | +€4,574 | +33.6% |
| Taxes | 450/3 | €2,049 | €176 | -€1,873 | -91.4% |
| Remuneration and social security | 454/9 | €11,558 | €18,004 | +€6,446 | +55.8% |
| Other amounts payable | 47/48 | €14,351 | €20,719 | +€6,367 | +44.4% |
| Accrued charges and deferred income | 492/3 | - | €1,239 | +€1,239 | |
| Remuneration, social security and pensions | 62 | €85,408 | €187,713 | +€102,305 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,270 | €33,186 | +€916 | +2.8% |
| Other operating charges | 640/8 | €2,212 | €2,250 | +€38 | +1.7% |
| Gross operating margin | 9900 | €159,821 | €246,605 | +€86,784 | +54.3% |
| Operating profit (loss) | 9901 | €39,931 | €23,457 | -€16,474 | -41.3% |
| Financial income | 75/76B | €1,224 | €22 | -€1,202 | -98.2% |
| Recurring financial income | 75 | €1,224 | €22 | -€1,202 | -98.2% |
| Financial charges | 65/66B | €4,422 | €4,207 | -€215 | -4.9% |
| Recurring financial charges | 65 | €4,422 | €4,207 | -€215 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €36,733 | €19,272 | -€17,461 | -47.5% |
| Income taxes | 67/77 | €9,529 | €6,662 | -€2,867 | -30.1% |
| Profit (loss) for the period | 9904 | €27,204 | €12,610 | -€14,595 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,204 | €12,610 | -€14,595 | -53.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.