G&G projects: 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.
G&G projects
Largest movements
- Stocks and contracts +€810,000
new in 2025: €810,000
- Receivables within one year -€708,282
down €708,282 (-65.4%), from €1.1m to €375,282
of which Trade receivables: -€549,150
- Receivables after one year +€27,680
up €27,680 (+3.8%), from €720,145 to €747,826
- Other debts +€405,675
up €405,675 (+6,087%), from €6,664 to €412,339
- Trade debts -€334,678
down €334,678 (-57.0%), from €587,453 to €252,776
- Short-term financial debts +€72,101
up €72,101 (+13.9%), from €517,203 to €589,304
- Tax, wage and social debts -€36,277
down €36,277 (-44.5%), from €81,546 to €45,270
of which Taxes: -€40,691
- Financial charges +€49,085
up €49,085 (+74.6%), from €65,766 to €114,850
- Gross operating margin +€13,825
up €13,825 (+12.0%), from €115,090 to €128,915
- Taxes -€11,724
down €11,724 (-64.4%), from €18,206 to €6,482
- Staff costs +€2,734
up €2,734 (+83.4%), from -€3,277 to -€543
- Other operating charges -€2,519
down €2,519 (-41.1%), from €6,133 to €3,614
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 | €1,806,197 | €1,939,565 | +€133,368 | +7.4% |
| Fixed assets | 21/28 | €2,413 | €2,440 | +€27 | +1.1% |
| Tangible fixed assets | 22/27 | €2,413 | €2,440 | +€27 | +1.1% |
| Furniture and vehicles | 24 | €2,413 | €2,440 | +€27 | +1.1% |
| Current assets | 29/58 | €1,803,784 | €1,937,125 | +€133,341 | +7.4% |
| Amounts receivable after more than one year | 29 | €720,145 | €747,826 | +€27,680 | +3.8% |
| Other amounts receivable | 291 | €720,145 | €747,826 | +€27,680 | +3.8% |
| Stocks and contracts in progress | 3 | - | €810,000 | +€810,000 | |
| Contracts in progress | 37 | - | €810,000 | +€810,000 | |
| Amounts receivable within one year | 40/41 | €1,083,564 | €375,282 | -€708,282 | -65.4% |
| Trade receivables | 40 | €727,017 | €177,867 | -€549,150 | -75.5% |
| Other amounts receivable | 41 | €356,546 | €197,414 | -€159,132 | -44.6% |
| Cash at bank and in hand | 54/58 | €16 | €3,224 | +€3,209 | +20,608% |
| Deferred charges and accrued income | 490/1 | €60 | €794 | +€734 | +1,228% |
| Total equity and liabilities | 10/49 | €1,806,197 | €1,939,565 | +€133,368 | +7.4% |
| Equity | 10/15 | €513,440 | €526,242 | +€12,802 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €494,840 | €507,642 | +€12,802 | +2.6% |
| Distributable reserves | 133 | €494,840 | €507,642 | +€12,802 | +2.6% |
| Amounts payable | 17/49 | €1,292,757 | €1,413,323 | +€120,566 | +9.3% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,208,872 | €1,315,693 | +€106,821 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €16,005 | €16,005 | = | 0.0% |
| Financial debts | 43 | €517,203 | €589,304 | +€72,101 | +13.9% |
| Credit institutions | 430/8 | €517,203 | €589,304 | +€72,101 | +13.9% |
| Trade debts | 44 | €587,453 | €252,776 | -€334,678 | -57.0% |
| Suppliers | 440/4 | €587,453 | €252,776 | -€334,678 | -57.0% |
| Taxes, remuneration and social security | 45 | €81,546 | €45,270 | -€36,277 | -44.5% |
| Taxes | 450/3 | €74,605 | €33,914 | -€40,691 | -54.5% |
| Remuneration and social security | 454/9 | €6,941 | €11,355 | +€4,414 | +63.6% |
| Other amounts payable | 47/48 | €6,664 | €412,339 | +€405,675 | +6,087% |
| Accrued charges and deferred income | 492/3 | €8,885 | €22,630 | +€13,744 | +155% |
| Remuneration, social security and pensions | 62 | -€3,277 | -€543 | +€2,734 | +83.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,387 | €1,399 | +€12 | +0.8% |
| Other operating charges | 640/8 | €6,133 | €3,614 | -€2,519 | -41.1% |
| Gross operating margin | 9900 | €115,090 | €128,915 | +€13,825 | +12.0% |
| Operating profit (loss) | 9901 | €110,848 | €124,446 | +€13,598 | +12.3% |
| Financial income | 75/76B | €9,386 | €9,689 | +€303 | +3.2% |
| Recurring financial income | 75 | €9,386 | €9,689 | +€303 | +3.2% |
| Financial charges | 65/66B | €65,766 | €114,850 | +€49,085 | +74.6% |
| Recurring financial charges | 65 | €65,766 | €114,850 | +€49,085 | +74.6% |
| Profit (loss) for the period before taxes | 9903 | €54,468 | €19,284 | -€35,183 | -64.6% |
| Income taxes | 67/77 | €18,206 | €6,482 | -€11,724 | -64.4% |
| Profit (loss) for the period | 9904 | €36,262 | €12,802 | -€23,459 | -64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,262 | €12,802 | -€23,459 | -64.7% |
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 16 October 2026 via checked.be.