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
- Cash -€198,928
down €198,928 (-95.5%), from €208,408 to €9,480
mainly Stocks and contracts (-€196,426) and Investment in fixed assets (net) (-€42,369)
- Stocks and contracts +€196,426
up €196,426 (+119%), from €164,486 to €360,913
- Receivables within one year -€33,907
down €33,907 (-80.5%), from €42,101 to €8,194
of which Trade receivables: -€33,103
- Trade debts -€32,130
down €32,130 (-48.3%), from €66,524 to €34,395
- Current portion of long-term debt -€13,617
down €13,617 (-30.6%), from €44,479 to €30,862
- Other debts +€10,082
up €10,082 (+102%), from €9,885 to €19,967
- Tax, wage and social debts -€8,111
down €8,111 (-61.9%), from €13,102 to €4,991
of which Taxes: -€10,180
- Gross operating margin -€101,790
down €101,790 (-52.9%), from €192,439 to €90,650
- Taxes -€25,630
down €25,630 (-95.5%), from €26,851 to €1,222
- Staff costs -€24,889
down €24,889 (-43.8%), from €56,805 to €31,917
- Depreciation +€8,451
up €8,451 (+31.3%), from €26,969 to €35,420
- Financial charges +€6,883
up €6,883 (+105%), from €6,528 to €13,411
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 | €773,711 | €744,251 | -€29,460 | -3.8% |
| Fixed assets | 21/28 | €355,589 | €362,537 | +€6,949 | +2.0% |
| Tangible fixed assets | 22/27 | €355,059 | €362,007 | +€6,949 | +2.0% |
| Land and buildings | 22 | €299,697 | €291,789 | -€7,908 | -2.6% |
| Plant, machinery and equipment | 23 | €26,270 | €15,499 | -€10,771 | -41.0% |
| Furniture and vehicles | 24 | €29,092 | €54,720 | +€25,628 | +88.1% |
| Financial fixed assets | 28 | €530 | €530 | = | 0.0% |
| Current assets | 29/58 | €418,122 | €381,713 | -€36,409 | -8.7% |
| Stocks and contracts in progress | 3 | €164,486 | €360,913 | +€196,426 | +119% |
| Stocks | 30/36 | €164,486 | €360,913 | +€196,426 | +119% |
| Amounts receivable within one year | 40/41 | €42,101 | €8,194 | -€33,907 | -80.5% |
| Trade receivables | 40 | €38,769 | €5,666 | -€33,103 | -85.4% |
| Other amounts receivable | 41 | €3,332 | €2,528 | -€804 | -24.1% |
| Cash at bank and in hand | 54/58 | €208,408 | €9,480 | -€198,928 | -95.5% |
| Deferred charges and accrued income | 490/1 | €3,126 | €3,126 | = | 0.0% |
| Total equity and liabilities | 10/49 | €773,711 | €744,251 | -€29,460 | -3.8% |
| Equity | 10/15 | €385,474 | €391,745 | +€6,272 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €226,860 | €226,860 | = | 0.0% |
| Distributable reserves | 133 | €226,860 | €226,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,014 | €146,285 | +€6,272 | +4.5% |
| Amounts payable | 17/49 | €388,237 | €352,506 | -€35,732 | -9.2% |
| Amounts payable after more than one year | 17 | €233,335 | €233,693 | +€357 | +0.2% |
| Financial debts | 170/4 | €233,335 | €233,693 | +€357 | +0.2% |
| Amounts payable within one year | 42/48 | €154,902 | €118,813 | -€36,089 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €44,479 | €30,862 | -€13,617 | -30.6% |
| Financial debts | 43 | €20,911 | €28,598 | +€7,687 | +36.8% |
| Credit institutions | 430/8 | €20,911 | €28,598 | +€7,687 | +36.8% |
| Trade debts | 44 | €66,524 | €34,395 | -€32,130 | -48.3% |
| Suppliers | 440/4 | €66,524 | €34,395 | -€32,130 | -48.3% |
| Taxes, remuneration and social security | 45 | €13,102 | €4,991 | -€8,111 | -61.9% |
| Taxes | 450/3 | €13,102 | €2,923 | -€10,180 | -77.7% |
| Remuneration and social security | 454/9 | - | €2,069 | +€2,069 | |
| Other amounts payable | 47/48 | €9,885 | €19,967 | +€10,082 | +102% |
| Remuneration, social security and pensions | 62 | €56,805 | €31,917 | -€24,889 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,969 | €35,420 | +€8,451 | +31.3% |
| Other operating charges | 640/8 | €2,628 | €2,960 | +€331 | +12.6% |
| Non-recurring operating charges | 66A | €6,026 | - | -€6,026 | |
| Gross operating margin | 9900 | €192,439 | €90,650 | -€101,790 | -52.9% |
| Operating profit (loss) | 9901 | €100,011 | €20,353 | -€79,658 | -79.6% |
| Financial income | 75/76B | €3,124 | €551 | -€2,573 | -82.4% |
| Recurring financial income | 75 | €3,124 | €551 | -€2,573 | -82.4% |
| Financial charges | 65/66B | €6,528 | €13,411 | +€6,883 | +105% |
| Recurring financial charges | 65 | €6,528 | €13,411 | +€6,883 | +105% |
| Profit (loss) for the period before taxes | 9903 | €96,607 | €7,493 | -€89,114 | -92.2% |
| Income taxes | 67/77 | €26,851 | €1,222 | -€25,630 | -95.5% |
| Profit (loss) for the period | 9904 | €69,756 | €6,272 | -€63,484 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €69,756 | €6,272 | -€63,484 | -91.0% |
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.