Flanders Construction Group: what changed
What changed
Flanders Construction Group
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
-€192,895
2024 · €153,529-€346,424
Equity
€69,212
2024 · €262,107-€192,895
Cash
€6,245
2024 · €4,590+€1,655
Balance sheet total
€347,128
2024 · €563,377-€216,249
Largest movements
Assets
- Receivables within one year -€174,130
down €174,130 (-72.8%), from €239,102 to €64,973
of which Trade receivables: -€98,392
- Tangible fixed assets -€39,799
down €39,799 (-12.6%), from €315,709 to €275,910
Equity and liabilities
- Profit (loss) carried forward -€192,895
down €192,895 (-98.2%), from €196,492 to €3,597
- Tax, wage and social debts -€25,045
down €25,045 (-29.9%), from €83,734 to €58,689
of which Taxes: -€17,701
- Trade debts +€23,859
up €23,859 (+205%), from €11,621 to €35,480
- Debts after one year -€20,905
down €20,905 (-11.4%), from €183,747 to €162,842
Income statement
- Gross operating margin -€405,238
down €405,238, from €320,076 to -€85,162
- Taxes -€52,342
down €52,342 (-99.4%), from €52,645 to €303
- Staff costs -€36,379
down €36,379 (-40.4%), from €90,085 to €53,706
- Depreciation +€16,200
up €16,200 (+77.1%), from €21,001 to €37,201
- Financial charges +€10,689
up €10,689 (+568%), from €1,882 to €12,571
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
€153,529
Gross operating margin
-€405,238
Staff costs
+€36,379
Depreciation
-€16,200
Other operating charges
+€2,523
Other operating items
-€2,585
Financial income
-€2,957
Financial charges
-€10,689
Taxes
+€52,342
Result 2025
-€192,895
raises the resultlowers the resultnot broken down further in the accounts
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
+€17,249
Investment
+€6,574
Financing
-€22,168
Cash 2024
€4,590
From operations (derived)
+€17,249
Net result for the year
-€192,895
Depreciation
+€37,201
Receivables within one year
+€174,130
Trade debts
+€23,859
Tax, wage and social debts
-€25,045
Investment (derived)
+€6,574
Investment in fixed assets (net)
+€6,574
Financing
-€22,168
Debts after one year
-€20,905
Current portion of long-term debt
-€1,263
Cash 2025
€6,245
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €563,377 | €347,128 | -€216,249 | -38.4% |
| Fixed assets | 21/28 | €319,684 | €275,910 | -€43,774 | -13.7% |
| Tangible fixed assets | 22/27 | €315,709 | €275,910 | -€39,799 | -12.6% |
| Land and buildings | 22 | €208,585 | €197,505 | -€11,080 | -5.3% |
| Plant, machinery and equipment | 23 | €26,563 | €16,306 | -€10,257 | -38.6% |
| Furniture and vehicles | 24 | €1,532 | €756 | -€777 | -50.7% |
| Leasing and similar rights | 25 | €79,030 | €61,344 | -€17,686 | -22.4% |
| Financial fixed assets | 28 | €3,975 | - | -€3,975 | |
| Current assets | 29/58 | €243,692 | €71,218 | -€172,474 | -70.8% |
| Amounts receivable within one year | 40/41 | €239,102 | €64,973 | -€174,130 | -72.8% |
| Trade receivables | 40 | €118,113 | €19,720 | -€98,392 | -83.3% |
| Other amounts receivable | 41 | €120,989 | €45,252 | -€75,737 | -62.6% |
| Cash at bank and in hand | 54/58 | €4,590 | €6,245 | +€1,655 | +36.1% |
| Total equity and liabilities | 10/49 | €563,377 | €347,128 | -€216,249 | -38.4% |
| Equity | 10/15 | €262,107 | €69,212 | -€192,895 | -73.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €63,615 | €63,615 | = | 0.0% |
| Distributable reserves | 133 | €63,615 | €63,615 | = | 0.0% |
| Profit (loss) carried forward | 14 | €196,492 | €3,597 | -€192,895 | -98.2% |
| Amounts payable | 17/49 | €301,269 | €277,915 | -€23,354 | -7.8% |
| Amounts payable after more than one year | 17 | €183,747 | €162,842 | -€20,905 | -11.4% |
| Financial debts | 170/4 | €183,747 | €162,842 | -€20,905 | -11.4% |
| Amounts payable within one year | 42/48 | €117,523 | €115,074 | -€2,449 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €22,168 | €20,905 | -€1,263 | -5.7% |
| Trade debts | 44 | €11,621 | €35,480 | +€23,859 | +205% |
| Suppliers | 440/4 | €11,621 | €35,480 | +€23,859 | +205% |
| Taxes, remuneration and social security | 45 | €83,734 | €58,689 | -€25,045 | -29.9% |
| Taxes | 450/3 | €75,914 | €58,213 | -€17,701 | -23.3% |
| Remuneration and social security | 454/9 | €7,821 | €476 | -€7,345 | -93.9% |
| Non-recurring operating income | 76A | - | €8,722 | +€8,722 | |
| Remuneration, social security and pensions | 62 | €90,085 | €53,706 | -€36,379 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,001 | €37,201 | +€16,200 | +77.1% |
| Other operating charges | 640/8 | €3,877 | €1,354 | -€2,523 | -65.1% |
| Non-recurring operating charges | 66A | €14 | €2,599 | +€2,585 | +18,868% |
| Gross operating margin | 9900 | €320,076 | -€85,162 | -€405,238 | |
| Operating profit (loss) | 9901 | €205,100 | -€180,020 | -€385,120 | |
| Financial income | 75/76B | €2,957 | - | -€2,957 | |
| Recurring financial income | 75 | €2,957 | - | -€2,957 | |
| Financial charges | 65/66B | €1,882 | €12,571 | +€10,689 | +568% |
| Recurring financial charges | 65 | €1,882 | €12,571 | +€10,689 | +568% |
| Profit (loss) for the period before taxes | 9903 | €206,175 | -€192,592 | -€398,766 | |
| Income taxes | 67/77 | €52,645 | €303 | -€52,342 | -99.4% |
| Profit (loss) for the period | 9904 | €153,529 | -€192,895 | -€346,424 | |
| Profit (loss) for the period to be appropriated | 9905 | €153,529 | -€192,895 | -€346,424 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.