FS Raamconstruct: what changed
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
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.
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.
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% |
Next steps
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.