Collective flow observables are known to be a sensitive tool to gain insights on the equation of state of nuclear matter from heavy-ion collision observations. Towards more quantitative constraints one has to carefully assess other influences on the collective behaviour. In this work a hadronic transport approach SMASH (Simulating Many Accelerated Strongly-interacting Hadrons) is applied to study the first four anisotropic flow coefficients in Au+Au collisions at
Elab=1.23A GeV in the context of the recently measured data by the HADES collaboration. In particular, the formation of light nuclei is important in this energy regime. Two different approaches are contrasted to each other: A clustering algorithm inspired by coalescence as well as microscopic formation of deuterons via explicit cross-sections. The sensitivity of directed and elliptic flow observables to the strength of the Skyrme mean field is explored. In addition, it is demonstrated that the rapidity-odd
v3 coefficient is practically zero in this energy regime and the ratio of
v4/v22 is close to the value of 0.5 expected from hydrodynamic behaviour. This study establishes the current understanding of collective behaviour within the SMASH approach and lays the ground for future more quantitative constraints on the equation of state of nuclear matter within improved mean field calculations.