GRAAFJANSHOEVE CONSTRUCT: what changed
What changed
GRAAFJANSHOEVE CONSTRUCT
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€2.9m
2024 · €1.0m+€1.9m
Equity
€678,980
2024 · €678,377+€603
Cash
€284,203
2024 · €9,648+€274,555
Balance sheet total
€7.9m
2024 · €8.8m-€886,901
Largest movements
Assets
- Stocks and contracts -€3.2m
down €3.2m (-50.5%), from €6.3m to €3.1m
of which Stocks: -€3.2m
- Financial fixed assets +€1.6m
new in 2025: €1.6m
- Current investments +€1.3m
new in 2025: €1.3m
- Receivables within one year -€841,784
down €841,784 (-33.5%), from €2.5m to €1.7m
of which Trade receivables: -€850,584
- Cash +€274,555
up €274,555 (+2,846%), from €9,648 to €284,203
mainly Stocks and contracts (+€3.2m) and Net result for the year (+€2.9m)
Equity and liabilities
- Debts after one year -€2.4m
down €2.4m (-60.2%), from €4.0m to €1.6m
- Other debts +€2.1m
up €2.1m (+190%), from €1.1m to €3.2m
- Trade debts -€895,089
down €895,089 (-73.1%), from €1.2m to €329,618
- Tax, wage and social debts +€521,731
up €521,731 (+117%), from €446,666 to €968,397
- Advances received -€417,116
down €417,116 (-30.9%), from €1.3m to €931,013
Income statement
- Gross operating margin +€2.8m
up €2.8m (+188%), from €1.5m to €4.2m
- Taxes +€765,835
up €765,835 (+4,751%), from €16,118 to €781,954
- Financial charges +€86,969
up €86,969 (+20.7%), from €420,097 to €507,066
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
€1.0m
Gross operating margin
+€2.8m
Depreciation
-€2,993
Other operating charges
+€4,962
Financial income
+€10,179
Financial charges
-€86,969
Taxes
-€765,835
Result 2025
€2.9m
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
+€8.3m
Investment
-€2.9m
Financing
-€5.2m
Cash 2024
€9,648
From operations (derived)
+€8.3m
Net result for the year
+€2.9m
Depreciation
+€6,690
Stocks and contracts
+€3.2m
Receivables within one year
+€841,784
Deferred charges and accrued income
-€720
Trade debts
-€895,089
Tax, wage and social debts
+€521,731
Advances received
-€417,116
Other debts
+€2.1m
Accrued charges and deferred income
+€96,770
Investment (derived)
-€2.9m
Investment in fixed assets (net)
-€1.6m
Current investments
-€1.3m
Financing
-€5.2m
Debts after one year
-€2.4m
Short-term financial debts
+€152,408
Contributions, distributions and other
-€2.9m
Cash 2025
€284,203
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,832,245 | €7,945,344 | -€886,901 | -10.0% |
| Fixed assets | 21/28 | €25,778 | €1,619,728 | +€1.6m | +6,183% |
| Tangible fixed assets | 22/27 | €25,778 | €19,088 | -€6,690 | -26.0% |
| Furniture and vehicles | 24 | €10,079 | €6,566 | -€3,512 | -34.8% |
| Other tangible fixed assets | 26 | €15,699 | €12,522 | -€3,177 | -20.2% |
| Financial fixed assets | 28 | - | €1,600,640 | +€1.6m | |
| Current assets | 29/58 | €8,806,467 | €6,325,615 | -€2.5m | -28.2% |
| Stocks and contracts in progress | 3 | €6,259,881 | €3,095,538 | -€3.2m | -50.5% |
| Stocks | 30/36 | €6,259,881 | €3,095,538 | -€3.2m | -50.5% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,511,563 | €1,669,779 | -€841,784 | -33.5% |
| Trade receivables | 40 | €2,500,763 | €1,650,179 | -€850,584 | -34.0% |
| Other amounts receivable | 41 | €10,800 | €19,600 | +€8,800 | +81.5% |
| Current investments | 50/53 | - | €1,250,000 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €9,648 | €284,203 | +€274,555 | +2,846% |
| Deferred charges and accrued income | 490/1 | €25,375 | €26,095 | +€720 | +2.8% |
| Total equity and liabilities | 10/49 | €8,832,245 | €7,945,344 | -€886,901 | -10.0% |
| Equity | 10/15 | €678,377 | €678,980 | +€603 | +0.1% |
| Contributions | 10/11 | €598,400 | €598,400 | = | 0.0% |
| Capital | 10 | €598,400 | €598,400 | = | 0.0% |
| Issued capital | 100 | €598,400 | €598,400 | = | 0.0% |
| Reserves | 13 | €79,977 | €80,580 | +€603 | +0.8% |
| Non-distributable reserves | 130/1 | €59,840 | €59,840 | = | 0.0% |
| Legal reserve | 130 | €59,840 | €59,840 | = | 0.0% |
| Distributable reserves | 133 | €20,137 | €20,740 | +€603 | +3.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €8,153,868 | €7,266,363 | -€887,505 | -10.9% |
| Amounts payable after more than one year | 17 | €4,039,430 | €1,609,179 | -€2.4m | -60.2% |
| Financial debts | 170/4 | €4,039,430 | €1,609,179 | -€2.4m | -60.2% |
| Amounts payable within one year | 42/48 | €4,114,163 | €5,560,140 | +€1.4m | +35.1% |
| Financial debts | 43 | - | €152,408 | +€152,408 | |
| Credit institutions | 430/8 | - | €152,408 | +€152,408 | |
| Trade debts | 44 | €1,224,707 | €329,618 | -€895,089 | -73.1% |
| Suppliers | 440/4 | €1,224,707 | €329,618 | -€895,089 | -73.1% |
| Advances received on contracts in progress | 46 | €1,348,128 | €931,013 | -€417,116 | -30.9% |
| Taxes, remuneration and social security | 45 | €446,666 | €968,397 | +€521,731 | +117% |
| Taxes | 450/3 | €446,666 | €968,397 | +€521,731 | +117% |
| Other amounts payable | 47/48 | €1,094,661 | €3,178,703 | +€2.1m | +190% |
| Accrued charges and deferred income | 492/3 | €275 | €97,045 | +€96,770 | +35,147% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,697 | €6,690 | +€2,993 | +81.0% |
| Other operating charges | 640/8 | €18,070 | €13,108 | -€4,962 | -27.5% |
| Gross operating margin | 9900 | €1,471,189 | €4,242,275 | +€2.8m | +188% |
| Operating profit (loss) | 9901 | €1,449,422 | €4,222,477 | +€2.8m | +191% |
| Financial income | 75/76B | €1,967 | €12,146 | +€10,179 | +518% |
| Recurring financial income | 75 | €1,967 | €12,146 | +€10,179 | +518% |
| Financial charges | 65/66B | €420,097 | €507,066 | +€86,969 | +20.7% |
| Recurring financial charges | 65 | €420,097 | €507,066 | +€86,969 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | €1,031,292 | €3,727,557 | +€2.7m | +261% |
| Income taxes | 67/77 | €16,118 | €781,954 | +€765,835 | +4,751% |
| Profit (loss) for the period | 9904 | €1,015,174 | €2,945,603 | +€1.9m | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €1,015,174 | €2,945,603 | +€1.9m | +190% |
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 5 November 2026 via checked.be.