FS Raamconstruct: 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.
FS Raamconstruct
Largest movements
- Receivables within one year +€48,149
up €48,149 (+233%), from €20,683 to €68,832
- Tangible fixed assets -€23,472
down €23,472 (-6.4%), from €366,398 to €342,927
of which Land and buildings: -€22,596
- Stocks and contracts -€18,259
down €18,259 (-36.3%), from €50,345 to €32,086
of which Stocks: -€46,919
- Reserves +€43,715
up €43,715 (+168%), from €25,960 to €69,675
of which Distributable reserves: +€43,715
- Debts after one year -€22,519
down €22,519 (-7.2%), from €312,539 to €290,020
- Accrued charges and deferred income -€19,962
no longer reported in 2025 (was €19,962)
- Trade debts -€10,318
down €10,318 (-87.3%), from €11,824 to €1,507
- Tax, wage and social debts +€9,855
up €9,855 (+223%), from €4,423 to €14,278
- Taxes +€16,645
new in 2025: €16,645
- Gross operating margin +€9,549
up €9,549 (+10.1%), from €94,409 to €103,957
- Financial charges -€6,816
down €6,816 (-35.1%), from €19,414 to €12,598
- Other operating charges -€1,617
down €1,617 (-48.3%), from €3,351 to €1,734
- Depreciation -€1,557
down €1,557 (-5.3%), from €29,590 to €28,034
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 | €502,576 | €504,581 | +€2,005 | +0.4% |
| Fixed assets | 21/28 | €368,898 | €342,927 | -€25,972 | -7.0% |
| Intangible fixed assets | 21 | €2,500 | €0 | -€2,500 | -100% |
| Tangible fixed assets | 22/27 | €366,398 | €342,927 | -€23,472 | -6.4% |
| Land and buildings | 22 | €361,368 | €338,772 | -€22,596 | -6.3% |
| Plant, machinery and equipment | 23 | €3,512 | €2,071 | -€1,441 | -41.0% |
| Furniture and vehicles | 24 | €1,518 | €2,084 | +€566 | +37.3% |
| Current assets | 29/58 | €133,678 | €161,654 | +€27,976 | +20.9% |
| Stocks and contracts in progress | 3 | €50,345 | €32,086 | -€18,259 | -36.3% |
| Stocks | 30/36 | €50,345 | €3,426 | -€46,919 | -93.2% |
| Contracts in progress | 37 | - | €28,660 | +€28,660 | |
| Amounts receivable within one year | 40/41 | €20,683 | €68,832 | +€48,149 | +233% |
| Trade receivables | 40 | €20,683 | €68,832 | +€48,149 | +233% |
| Cash at bank and in hand | 54/58 | €62,650 | €58,436 | -€4,214 | -6.7% |
| Deferred charges and accrued income | 490/1 | - | €2,300 | +€2,300 | |
| Total equity and liabilities | 10/49 | €502,576 | €504,581 | +€2,005 | +0.4% |
| Equity | 10/15 | €43,327 | €88,275 | +€44,948 | +104% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,960 | €69,675 | +€43,715 | +168% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,100 | €67,815 | +€43,715 | +181% |
| Profit (loss) carried forward | 14 | -€1,233 | - | +€1,233 | |
| Amounts payable | 17/49 | €459,249 | €416,305 | -€42,944 | -9.4% |
| Amounts payable after more than one year | 17 | €312,539 | €290,020 | -€22,519 | -7.2% |
| Financial debts | 170/4 | €312,539 | €290,020 | -€22,519 | -7.2% |
| Amounts payable within one year | 42/48 | €126,748 | €126,285 | -€462 | -0.4% |
| Financial debts | 43 | €110,500 | €110,500 | = | 0.0% |
| Credit institutions | 430/8 | €110,500 | €110,500 | = | 0.0% |
| Trade debts | 44 | €11,824 | €1,507 | -€10,318 | -87.3% |
| Suppliers | 440/4 | €11,824 | €1,507 | -€10,318 | -87.3% |
| Taxes, remuneration and social security | 45 | €4,423 | €14,278 | +€9,855 | +223% |
| Taxes | 450/3 | €4,423 | €14,278 | +€9,855 | +223% |
| Accrued charges and deferred income | 492/3 | €19,962 | - | -€19,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,590 | €28,034 | -€1,557 | -5.3% |
| Other operating charges | 640/8 | €3,351 | €1,734 | -€1,617 | -48.3% |
| Gross operating margin | 9900 | €94,409 | €103,957 | +€9,549 | +10.1% |
| Operating profit (loss) | 9901 | €61,468 | €74,190 | +€12,722 | +20.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €19,414 | €12,598 | -€6,816 | -35.1% |
| Recurring financial charges | 65 | €19,414 | €12,598 | -€6,816 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €42,054 | €61,593 | +€19,539 | +46.5% |
| Income taxes | 67/77 | - | €16,645 | +€16,645 | |
| Profit (loss) for the period | 9904 | €42,054 | €44,948 | +€2,895 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,054 | €44,948 | +€2,895 | +6.9% |
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 16 October 2026 via checked.be.