G & D PROJECTS: 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.
G & D PROJECTS
Largest movements
- Stocks and contracts +€59,497
up €59,497 (+12.7%), from €468,570 to €528,067
of which Contracts in progress: +€59,497
- Receivables within one year -€11,888
down €11,888 (-24.9%), from €47,766 to €35,879
of which Other amounts receivable: -€8,388
- Profit (loss) carried forward +€41,016
up €41,016 (+10.5%), from -€389,727 to -€348,711
- Gross operating margin +€66,994
up €66,994, from -€14,945 to €52,049
- Other operating charges +€564
up €564 (+10.1%), from €5,613 to €6,178
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €519,386 | €565,368 | +€45,982 | +8.9% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €519,386 | €565,368 | +€45,982 | +8.9% |
| Stocks and contracts in progress | 3 | €468,570 | €528,067 | +€59,497 | +12.7% |
| Stocks | 30/36 | €444,152 | €444,152 | = | 0.0% |
| Contracts in progress | 37 | €24,418 | €83,915 | +€59,497 | +243.7% |
| Amounts receivable within one year | 40/41 | €47,766 | €35,879 | -€11,888 | -24.9% |
| Trade receivables | 40 | €3,500 | €0 | -€3,500 | -100.0% |
| Other amounts receivable | 41 | €44,267 | €35,879 | -€8,388 | -18.9% |
| Cash at bank and in hand | 54/58 | €2,608 | €956 | -€1,652 | -63.4% |
| Deferred charges and accrued income | 490/1 | €442 | €466 | +€25 | +5.6% |
| Total equity and liabilities | 10/49 | €519,386 | €565,368 | +€45,982 | +8.9% |
| Equity | 10/15 | -€295,474 | -€254,458 | +€41,016 | +13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,653 | €75,653 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €75,653 | €75,653 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€389,727 | -€348,711 | +€41,016 | +10.5% |
| Amounts payable | 17/49 | €814,860 | €819,825 | +€4,965 | +0.6% |
| Amounts payable within one year | 42/48 | €814,860 | €819,825 | +€4,965 | +0.6% |
| Trade debts | 44 | €6,265 | €7,469 | +€1,204 | +19.2% |
| Suppliers | 440/4 | €6,265 | €7,469 | +€1,204 | +19.2% |
| Taxes, remuneration and social security | 45 | €1,282 | €1,211 | -€71 | -5.5% |
| Taxes | 450/3 | €1,282 | €1,211 | -€71 | -5.5% |
| Other amounts payable | 47/48 | €807,312 | €811,144 | +€3,832 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145 | €0 | -€145 | -100.0% |
| Other operating charges | 640/8 | €5,613 | €6,178 | +€564 | +10.1% |
| Gross operating margin | 9900 | -€14,945 | €52,049 | +€66,994 | |
| Operating profit (loss) | 9901 | -€20,704 | €45,871 | +€66,575 | |
| Financial income | 75/76B | €530 | €537 | +€7 | +1.3% |
| Recurring financial income | 75 | €530 | €537 | +€7 | +1.3% |
| Financial charges | 65/66B | €5,364 | €5,391 | +€27 | +0.5% |
| Recurring financial charges | 65 | €5,364 | €5,391 | +€27 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | -€25,538 | €41,016 | +€66,555 | |
| Income taxes | 67/77 | €77 | €0 | -€77 | -100.0% |
| Profit (loss) for the period | 9904 | -€25,615 | €41,016 | +€66,632 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,615 | €41,016 | +€66,632 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.