NFR 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.
NFR CONSTRUCT
Largest movements
- Tangible fixed assets +€221,304
up €221,304 (+137%), from €161,194 to €382,499
of which Land and buildings: +€244,736
- Receivables within one year +€51,877
up €51,877 (+140%), from €37,183 to €89,061
of which Trade receivables: +€65,509
- Cash +€23,366
up €23,366 (+8.5%), from €276,084 to €299,450
mainly Debts after one year (+€142,597) and Net result for the year (+€116,644)
- Debts after one year +€142,597
up €142,597 (+219%), from €65,034 to €207,631
- Other debts +€77,952
up €77,952 (+229%), from €34,005 to €111,958
- Profit (loss) carried forward +€66,644
up €66,644 (+33.7%), from €197,830 to €264,474
- Tax, wage and social debts +€28,862
up €28,862 (+53.8%), from €53,693 to €82,554
of which Taxes: +€27,384
- Trade debts -€15,442
down €15,442 (-39.8%), from €38,774 to €23,332
- Gross operating margin +€229,149
up €229,149 (+97.2%), from €235,773 to €464,923
- Staff costs +€133,873
up €133,873 (+116%), from €115,877 to €249,750
- Taxes +€16,992
up €16,992 (+79.6%), from €21,339 to €38,331
- Financial charges +€11,238
up €11,238 (+276%), from €4,073 to €15,311
- Depreciation +€10,037
up €10,037 (+30.8%), from €32,639 to €42,675
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 | €492,425 | €802,407 | +€309,982 | +63.0% |
| Fixed assets | 21/28 | €165,067 | €394,171 | +€229,103 | +139% |
| Intangible fixed assets | 21 | €3,698 | €6,547 | +€2,849 | +77.1% |
| Tangible fixed assets | 22/27 | €161,194 | €382,499 | +€221,304 | +137% |
| Land and buildings | 22 | - | €244,736 | +€244,736 | |
| Plant, machinery and equipment | 23 | €60,125 | €44,992 | -€15,133 | -25.2% |
| Furniture and vehicles | 24 | €18,029 | €9,846 | -€8,184 | -45.4% |
| Leasing and similar rights | 25 | €83,040 | €50,924 | -€32,116 | -38.7% |
| Assets under construction and advance payments | 27 | - | €32,000 | +€32,000 | |
| Financial fixed assets | 28 | €175 | €5,125 | +€4,950 | +2,829% |
| Current assets | 29/58 | €327,358 | €408,237 | +€80,879 | +24.7% |
| Stocks and contracts in progress | 3 | €10,500 | €15,640 | +€5,140 | +49.0% |
| Stocks | 30/36 | €10,500 | €15,640 | +€5,140 | +49.0% |
| Amounts receivable within one year | 40/41 | €37,183 | €89,061 | +€51,877 | +140% |
| Trade receivables | 40 | €21,827 | €87,336 | +€65,509 | +300% |
| Other amounts receivable | 41 | €15,357 | €1,725 | -€13,632 | -88.8% |
| Cash at bank and in hand | 54/58 | €276,084 | €299,450 | +€23,366 | +8.5% |
| Deferred charges and accrued income | 490/1 | €3,591 | €4,086 | +€495 | +13.8% |
| Total equity and liabilities | 10/49 | €492,425 | €802,407 | +€309,982 | +63.0% |
| Equity | 10/15 | €207,830 | €274,474 | +€66,644 | +32.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,830 | €264,474 | +€66,644 | +33.7% |
| Amounts payable | 17/49 | €284,595 | €527,933 | +€243,338 | +85.5% |
| Amounts payable after more than one year | 17 | €65,034 | €207,631 | +€142,597 | +219% |
| Financial debts | 170/4 | €65,034 | €207,631 | +€142,597 | +219% |
| Amounts payable within one year | 42/48 | €219,561 | €320,301 | +€100,741 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €17,961 | €25,131 | +€7,170 | +39.9% |
| Trade debts | 44 | €38,774 | €23,332 | -€15,442 | -39.8% |
| Suppliers | 440/4 | €38,774 | €23,332 | -€15,442 | -39.8% |
| Advances received on contracts in progress | 46 | €75,127 | €77,326 | +€2,199 | +2.9% |
| Taxes, remuneration and social security | 45 | €53,693 | €82,554 | +€28,862 | +53.8% |
| Taxes | 450/3 | €46,056 | €73,439 | +€27,384 | +59.5% |
| Remuneration and social security | 454/9 | €7,637 | €9,115 | +€1,478 | +19.4% |
| Other amounts payable | 47/48 | €34,005 | €111,958 | +€77,952 | +229% |
| Remuneration, social security and pensions | 62 | €115,877 | €249,750 | +€133,873 | +116% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,639 | €42,675 | +€10,037 | +30.8% |
| Other operating charges | 640/8 | €2,379 | €2,420 | +€41 | +1.7% |
| Gross operating margin | 9900 | €235,773 | €464,923 | +€229,149 | +97.2% |
| Operating profit (loss) | 9901 | €84,879 | €170,077 | +€85,198 | +100% |
| Financial income | 75/76B | €260 | €210 | -€51 | -19.5% |
| Recurring financial income | 75 | €260 | €210 | -€51 | -19.5% |
| Financial charges | 65/66B | €4,073 | €15,311 | +€11,238 | +276% |
| Recurring financial charges | 65 | €4,073 | €15,311 | +€11,238 | +276% |
| Profit (loss) for the period before taxes | 9903 | €81,066 | €154,975 | +€73,909 | +91.2% |
| Income taxes | 67/77 | €21,339 | €38,331 | +€16,992 | +79.6% |
| Profit (loss) for the period | 9904 | €59,727 | €116,644 | +€56,917 | +95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,727 | €116,644 | +€56,917 | +95.3% |
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 25 October 2026 via checked.be.