G&D CONSTRUCT: what changed
Two fiscal 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.
What changed
G&D CONSTRUCT
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€23,508
2024 · €62,070-€38,562
Equity
€705,760
2024 · €682,253+€23,508
Cash
€89,155
2024 · €368,088-€278,933
Balance sheet total
€3.9m
2024 · €2.5m+€1.4m
Largest movements
Assets
- Tangible fixed assets +€1.1m
up €1.1m (+97.1%), from €1.1m to €2.2m
of which Leasing and similar rights: +€1.1m
- Receivables within one year +€553,827
up €553,827 (+76.8%), from €721,378 to €1.3m
of which Trade receivables: +€556,554
- Cash -€278,933
down €278,933 (-75.8%), from €368,088 to €89,155
mainly Investment in fixed assets (net) (-€1.4m) and Receivables within one year (-€553,827)
Equity and liabilities
- Debts after one year +€902,061
up €902,061 (+99.0%), from €911,492 to €1.8m
- Short-term financial debts +€188,438
up €188,438 (+113.5%), from €166,029 to €354,467
- Trade debts +€165,496
up €165,496 (+44.1%), from €375,258 to €540,754
- Current portion of long-term debt +€107,495
up €107,495 (+57.9%), from €185,597 to €293,092
Income statement
- Turnover -€4.2m
no longer reported in 2025 (was €4.2m)
- Purchases and services -€2.6m
no longer reported in 2025 (was €2.6m)
- Staff costs +€83,798
up €83,798 (+7.1%), from €1.2m to €1.3m
- Gross operating margin +€69,872
up €69,872 (+4.2%), from €1.7m to €1.7m
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.
Result 2024
€62,070
Gross operating margin
+€69,872
Staff costs
-€83,798
Depreciation
-€13,528
Write-downs
-€7,873
Other operating charges
+€14,602
Other operating items
-€26,244
Financial income
+€4,714
Financial charges
-€20,733
Taxes
+€24,426
Result 2025
€23,508
Cash bridge derived
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.
From operations
-€64,525
Investment
-€1.4m
Financing
+€1.2m
Cash 2024
€368,088
From operations (derived)
-€64,525
Net result for the year
+€23,508
Depreciation
+€323,945
Stocks and contracts
-€17,700
Receivables within one year
-€553,827
Deferred charges and accrued income
-€26,142
Trade debts
+€165,496
Tax, wage and social debts
+€13,765
Other debts
+€2,210
Accrued charges and deferred income
+€4,220
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€1.2m
Debts after one year
+€902,061
Current portion of long-term debt
+€107,495
Short-term financial debts
+€188,438
Cash 2025
€89,155
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,461,166 | €3,868,359 | +€1.4m | +57.2% |
| Fixed assets | 21/28 | €1,171,425 | €2,259,883 | +€1.1m | +92.9% |
| Intangible fixed assets | 21 | €44,977 | €40,660 | -€4,317 | -9.6% |
| Tangible fixed assets | 22/27 | €1,125,719 | €2,218,494 | +€1.1m | +97.1% |
| Land and buildings | 22 | €22,766 | €24,775 | +€2,010 | +8.8% |
| Plant, machinery and equipment | 23 | €135,320 | €119,203 | -€16,117 | -11.9% |
| Furniture and vehicles | 24 | €88,590 | €119,007 | +€30,417 | +34.3% |
| Leasing and similar rights | 25 | €865,486 | €1,943,479 | +€1.1m | +124.6% |
| Other tangible fixed assets | 26 | €13,557 | €12,029 | -€1,528 | -11.3% |
| Financial fixed assets | 28 | €729 | €729 | = | 0.0% |
| Current assets | 29/58 | €1,289,741 | €1,608,476 | +€318,735 | +24.7% |
| Stocks and contracts in progress | 3 | €186,114 | €203,814 | +€17,700 | +9.5% |
| Stocks | 30/36 | €186,114 | €203,814 | +€17,700 | +9.5% |
| Amounts receivable within one year | 40/41 | €721,378 | €1,275,205 | +€553,827 | +76.8% |
| Trade receivables | 40 | €700,850 | €1,257,404 | +€556,554 | +79.4% |
| Other amounts receivable | 41 | €20,528 | €17,801 | -€2,728 | -13.3% |
| Cash at bank and in hand | 54/58 | €368,088 | €89,155 | -€278,933 | -75.8% |
| Deferred charges and accrued income | 490/1 | €14,161 | €40,303 | +€26,142 | +184.6% |
| Total equity and liabilities | 10/49 | €2,461,166 | €3,868,359 | +€1.4m | +57.2% |
| Equity | 10/15 | €682,253 | €705,760 | +€23,508 | +3.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €663,661 | €687,168 | +€23,508 | +3.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €190 | €190 | = | 0.0% |
| Distributable reserves | 133 | €663,471 | €686,979 | +€23,508 | +3.5% |
| Amounts payable | 17/49 | €1,778,913 | €3,162,598 | +€1.4m | +77.8% |
| Amounts payable after more than one year | 17 | €911,492 | €1,813,553 | +€902,061 | +99.0% |
| Financial debts | 170/4 | €911,492 | €1,813,553 | +€902,061 | +99.0% |
| Amounts payable within one year | 42/48 | €865,678 | €1,343,081 | +€477,403 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | €185,597 | €293,092 | +€107,495 | +57.9% |
| Financial debts | 43 | €166,029 | €354,467 | +€188,438 | +113.5% |
| Credit institutions | 430/8 | €166,029 | €354,467 | +€188,438 | +113.5% |
| Trade debts | 44 | €375,258 | €540,754 | +€165,496 | +44.1% |
| Suppliers | 440/4 | €375,258 | €540,754 | +€165,496 | +44.1% |
| Taxes, remuneration and social security | 45 | €124,068 | €137,833 | +€13,765 | +11.1% |
| Taxes | 450/3 | €19,031 | €49,282 | +€30,251 | +159.0% |
| Remuneration and social security | 454/9 | €105,037 | €88,551 | -€16,486 | -15.7% |
| Other amounts payable | 47/48 | €14,725 | €16,936 | +€2,210 | +15.0% |
| Accrued charges and deferred income | 492/3 | €1,744 | €5,964 | +€4,220 | +242.0% |
| Turnover | 70 | €4,196,970 | - | -€4.2m | |
| Non-recurring operating income | 76A | €1,475 | €4,226 | +€2,751 | +186.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,575,084 | - | -€2.6m | |
| Remuneration, social security and pensions | 62 | €1,185,332 | €1,269,130 | +€83,798 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €310,417 | €323,945 | +€13,528 | +4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,873 | €0 | +€7,873 | |
| Other operating charges | 640/8 | €26,986 | €12,384 | -€14,602 | -54.1% |
| Non-recurring operating charges | 66A | €748 | €26,992 | +€26,244 | +3509.1% |
| Gross operating margin | 9900 | €1,672,598 | €1,742,470 | +€69,872 | +4.2% |
| Operating profit (loss) | 9901 | €156,988 | €110,019 | -€46,969 | -29.9% |
| Financial income | 75/76B | €14,145 | €18,860 | +€4,714 | +33.3% |
| Recurring financial income | 75 | €14,042 | €18,860 | +€4,818 | +34.3% |
| Non-recurring financial income | 76B | €104 | €0 | -€104 | -100.0% |
| Financial charges | 65/66B | €80,926 | €101,659 | +€20,733 | +25.6% |
| Recurring financial charges | 65 | €80,926 | €101,659 | +€20,733 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €90,207 | €27,220 | -€62,988 | -69.8% |
| Income taxes | 67/77 | €28,138 | €3,712 | -€24,426 | -86.8% |
| Profit (loss) for the period | 9904 | €62,070 | €23,508 | -€38,562 | -62.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,070 | €23,508 | -€38,562 | -62.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.