FRD EXCELLENCE 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.
FRD EXCELLENCE CONSTRUCT
Largest movements
- Receivables within one year -€110,891
down €110,891 (-60.9%), from €182,208 to €71,317
of which Trade receivables: -€113,964
- Tangible fixed assets +€30,217
up €30,217 (+25.4%), from €118,833 to €149,050
of which Furniture and vehicles: +€33,954
- Stocks and contracts -€25,377
down €25,377 (-63.1%), from €40,223 to €14,846
of which Contracts in progress: -€26,454
- Cash +€16,542
up €16,542 (+653.6%), from €2,531 to €19,073
mainly Receivables within one year (+€110,891) and Tax, wage and social debts (+€61,995)
- Profit (loss) carried forward -€173,707
down €173,707, from €17,201 to -€156,506
- Tax, wage and social debts +€61,995
up €61,995 (+80.3%), from €77,173 to €139,168
of which Taxes: +€40,072
- Trade debts +€47,622
up €47,622 (+98.5%), from €48,368 to €95,990
- Other debts -€17,233
down €17,233 (-71.9%), from €23,957 to €6,724
- Current portion of long-term debt -€10,528
down €10,528 (-94.0%), from €11,198 to €670
- Purchases and services -€492,375
no longer reported in 2024 (was €492,375)
- Write-downs +€66,100
up €66,100 (+1212.6%), from €5,451 to €71,551
- Gross operating margin +€41,160
up €41,160 (+28.8%), from €142,711 to €183,871
- Staff costs +€28,810
up €28,810 (+26.4%), from €108,993 to €137,803
- Financial charges +€26,914
up €26,914 (+182.3%), from €14,761 to €41,675
of which Non-recurring financial charges: +€24,445
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,310 | €257,823 | -€91,487 | -26.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €120,158 | €150,375 | +€30,217 | +25.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €118,833 | €149,050 | +€30,217 | +25.4% |
| Land and buildings | 22 | €118,130 | €109,391 | -€8,739 | -7.4% |
| Plant, machinery and equipment | 23 | - | €5,003 | +€5,003 | |
| Furniture and vehicles | 24 | €703 | €34,657 | +€33,954 | +4829.8% |
| Financial fixed assets | 28 | €1,325 | €1,325 | = | 0.0% |
| Current assets | 29/58 | €229,152 | €107,448 | -€121,704 | -53.1% |
| Stocks and contracts in progress | 3 | €40,223 | €14,846 | -€25,377 | -63.1% |
| Stocks | 30/36 | €13,769 | €14,846 | +€1,077 | +7.8% |
| Contracts in progress | 37 | €26,454 | - | -€26,454 | |
| Amounts receivable within one year | 40/41 | €182,208 | €71,317 | -€110,891 | -60.9% |
| Trade receivables | 40 | €147,457 | €33,493 | -€113,964 | -77.3% |
| Other amounts receivable | 41 | €34,751 | €37,824 | +€3,073 | +8.8% |
| Cash at bank and in hand | 54/58 | €2,531 | €19,073 | +€16,542 | +653.6% |
| Deferred charges and accrued income | 490/1 | €4,190 | €2,212 | -€1,978 | -47.2% |
| Total equity and liabilities | 10/49 | €349,310 | €257,823 | -€91,487 | -26.2% |
| Equity | 10/15 | €37,221 | -€136,486 | -€173,707 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,420 | €1,420 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,420 | €1,420 | = | 0.0% |
| Legal reserve | 130 | €1,420 | - | -€1,420 | |
| Reserves not available under the articles | 1311 | - | €1,420 | +€1,420 | |
| Profit (loss) carried forward | 14 | €17,201 | -€156,506 | -€173,707 | |
| Amounts payable | 17/49 | €312,089 | €394,310 | +€82,221 | +26.3% |
| Amounts payable after more than one year | 17 | €91,393 | €91,393 | +€0 | 0.0% |
| Financial debts | 170/4 | €91,393 | €91,393 | +€0 | 0.0% |
| Amounts payable within one year | 42/48 | €220,696 | €302,917 | +€82,221 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €11,198 | €670 | -€10,528 | -94.0% |
| Financial debts | 43 | €60,000 | €60,364 | +€364 | +0.6% |
| Credit institutions | 430/8 | €60,000 | €60,364 | +€364 | +0.6% |
| Trade debts | 44 | €48,368 | €95,990 | +€47,622 | +98.5% |
| Suppliers | 440/4 | €48,368 | €95,990 | +€47,622 | +98.5% |
| Taxes, remuneration and social security | 45 | €77,173 | €139,168 | +€61,995 | +80.3% |
| Taxes | 450/3 | €38,903 | €78,975 | +€40,072 | +103.0% |
| Remuneration and social security | 454/9 | €38,270 | €60,193 | +€21,923 | +57.3% |
| Other amounts payable | 47/48 | €23,957 | €6,724 | -€17,233 | -71.9% |
| Non-recurring operating income | 76A | - | €19,197 | +€19,197 | |
| Goods, raw materials, services and sundry goods | 60/61 | €492,375 | - | -€492,375 | |
| Remuneration, social security and pensions | 62 | €108,993 | €137,803 | +€28,810 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,067 | €10,783 | -€5,284 | -32.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,451 | €71,551 | +€66,100 | +1212.6% |
| Other operating charges | 640/8 | €3,069 | €14,909 | +€11,840 | +385.8% |
| Non-recurring operating charges | 66A | - | €85,441 | +€85,441 | |
| Gross operating margin | 9900 | €142,711 | €183,871 | +€41,160 | +28.8% |
| Operating profit (loss) | 9901 | €9,131 | -€136,616 | -€145,747 | |
| Financial income | 75/76B | €108 | €1,507 | +€1,399 | +1295.2% |
| Recurring financial income | 75 | €108 | €1,507 | +€1,399 | +1295.2% |
| Financial charges | 65/66B | €14,761 | €41,675 | +€26,914 | +182.3% |
| Recurring financial charges | 65 | €14,761 | €17,230 | +€2,469 | +16.7% |
| Non-recurring financial charges | 66B | - | €24,445 | +€24,445 | |
| Profit (loss) for the period before taxes | 9903 | -€5,522 | -€176,784 | -€171,262 | -3101.5% |
| Income taxes | 67/77 | -€2,761 | -€3,077 | -€316 | -11.5% |
| Profit (loss) for the period | 9904 | -€2,761 | -€173,707 | -€170,946 | -6191.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,761 | -€173,707 | -€170,946 | -6191.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.