FLANDERS 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.
FLANDERS CONSTRUCT
Largest movements
- Receivables within one year +€69,681
up €69,681 (+136%), from €51,260 to €120,941
of which Other amounts receivable: +€46,967
- Tangible fixed assets +€56,665
up €56,665 (+14.5%), from €390,828 to €447,493
of which Land and buildings: +€58,023
- Cash +€7,846
up €7,846 (+34.9%), from €22,504 to €30,350
mainly Debts after one year (+€201,254) and Depreciation (+€76,106)
- Debts after one year +€201,254
up €201,254 (+76.7%), from €262,272 to €463,526
of which Financial debts: +€201,254
- Reserves -€32,890
down €32,890 (-20.3%), from €162,298 to €129,407
of which Tax-exempt reserves: -€32,890
- Profit (loss) carried forward -€29,058
down €29,058 (-56.5%), from -€51,431 to -€80,488
- Provisions -€16,936
down €16,936 (-26.3%), from €64,434 to €47,498
- Gross operating margin -€61,815
down €61,815 (-82.9%), from €74,525 to €12,710
- Depreciation +€5,906
up €5,906 (+8.4%), from €70,200 to €76,106
- Financial charges +€3,438
up €3,438 (+41.3%), from €8,333 to €11,771
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.
Derived cash bridge
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 | €569,454 | €703,663 | +€134,208 | +23.6% |
| Fixed assets | 21/28 | €495,286 | €551,950 | +€56,665 | +11.4% |
| Tangible fixed assets | 22/27 | €390,828 | €447,493 | +€56,665 | +14.5% |
| Land and buildings | 22 | €379,433 | €437,456 | +€58,023 | +15.3% |
| Plant, machinery and equipment | 23 | €10,084 | €9,163 | -€921 | -9.1% |
| Furniture and vehicles | 24 | €1,311 | €874 | -€437 | -33.3% |
| Financial fixed assets | 28 | €104,457 | €104,457 | = | 0.0% |
| Current assets | 29/58 | €74,169 | €151,713 | +€77,544 | +105% |
| Amounts receivable within one year | 40/41 | €51,260 | €120,941 | +€69,681 | +136% |
| Trade receivables | 40 | €51,260 | €73,974 | +€22,714 | +44.3% |
| Other amounts receivable | 41 | €0 | €46,967 | +€46,967 | |
| Cash at bank and in hand | 54/58 | €22,504 | €30,350 | +€7,846 | +34.9% |
| Deferred charges and accrued income | 490/1 | €406 | €422 | +€16 | +4.0% |
| Total equity and liabilities | 10/49 | €569,454 | €703,663 | +€134,208 | +23.6% |
| Equity | 10/15 | €172,867 | €110,919 | -€61,948 | -35.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €162,298 | €129,407 | -€32,890 | -20.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €124,880 | €91,990 | -€32,890 | -26.3% |
| Distributable reserves | 133 | €31,217 | €31,217 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,431 | -€80,488 | -€29,058 | -56.5% |
| Provisions and deferred taxes | 16 | €64,434 | €47,498 | -€16,936 | -26.3% |
| Deferred taxes | 168 | €64,434 | €47,498 | -€16,936 | -26.3% |
| Amounts payable | 17/49 | €332,153 | €545,245 | +€213,092 | +64.2% |
| Amounts payable after more than one year | 17 | €262,272 | €463,526 | +€201,254 | +76.7% |
| Financial debts | 170/4 | €262,077 | €463,331 | +€201,254 | +76.8% |
| Other amounts payable | 178/9 | €195 | €195 | = | 0.0% |
| Amounts payable within one year | 42/48 | €68,911 | €77,246 | +€8,335 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €22,742 | €24,001 | +€1,259 | +5.5% |
| Trade debts | 44 | €42,464 | €48,689 | +€6,226 | +14.7% |
| Suppliers | 440/4 | €42,464 | €48,689 | +€6,226 | +14.7% |
| Taxes, remuneration and social security | 45 | €2,670 | €4,556 | +€1,885 | +70.6% |
| Taxes | 450/3 | €2,670 | €4,556 | +€1,885 | +70.6% |
| Other amounts payable | 47/48 | €1,035 | €0 | -€1,035 | -100% |
| Accrued charges and deferred income | 492/3 | €970 | €4,473 | +€3,504 | +361% |
| Non-recurring operating income | 76A | €8,500 | €0 | -€8,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,200 | €76,106 | +€5,906 | +8.4% |
| Other operating charges | 640/8 | €3,723 | €3,718 | -€6 | -0.2% |
| Gross operating margin | 9900 | €74,525 | €12,710 | -€61,815 | -82.9% |
| Operating profit (loss) | 9901 | €602 | -€67,113 | -€67,715 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -100% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100% |
| Financial charges | 65/66B | €8,333 | €11,771 | +€3,438 | +41.3% |
| Recurring financial charges | 65 | €8,333 | €11,771 | +€3,438 | +41.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,729 | -€78,884 | -€71,155 | -921% |
| Transfer from deferred taxes | 780 | €16,936 | €16,936 | = | 0.0% |
| Income taxes | 67/77 | €4 | €0 | -€4 | -100% |
| Profit (loss) for the period | 9904 | €9,203 | -€61,948 | -€71,151 | |
| Transfer from tax-exempt reserves | 789 | €32,890 | €32,890 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,094 | -€29,058 | -€71,151 |
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 18 October 2026 via checked.be.