G&O 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&O Projects
Largest movements
- Cash +€53,775
up €53,775 (+65.4%), from €82,267 to €136,043
mainly Net result for the year (+€50,822) and Tax, wage and social debts (+€7,611)
- Receivables within one year +€5,159
up €5,159 (+56.0%), from €9,210 to €14,368
- Reserves +€50,822
up €50,822 (+64.9%), from €78,272 to €129,094
- Tax, wage and social debts +€7,611
up €7,611 (+89.7%), from €8,483 to €16,094
- Trade debts +€1,539
new in 2025: €1,539
- Gross operating margin +€22,003
up €22,003 (+51.8%), from €42,452 to €64,455
- Taxes +€4,479
up €4,479 (+51.7%), from €8,656 to €13,135
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 | €92,604 | €151,199 | +€58,595 | +63.3% |
| Fixed assets | 21/28 | €1,127 | €788 | -€339 | -30.1% |
| Tangible fixed assets | 22/27 | €1,127 | €788 | -€339 | -30.1% |
| Furniture and vehicles | 24 | €1,127 | €788 | -€339 | -30.1% |
| Current assets | 29/58 | €91,477 | €150,411 | +€58,934 | +64.4% |
| Amounts receivable within one year | 40/41 | €9,210 | €14,368 | +€5,159 | +56.0% |
| Trade receivables | 40 | €9,210 | €14,368 | +€5,159 | +56.0% |
| Cash at bank and in hand | 54/58 | €82,267 | €136,043 | +€53,775 | +65.4% |
| Total equity and liabilities | 10/49 | €92,604 | €151,199 | +€58,595 | +63.3% |
| Equity | 10/15 | €81,272 | €132,094 | +€50,822 | +62.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €78,272 | €129,094 | +€50,822 | +64.9% |
| Distributable reserves | 133 | €78,272 | €129,094 | +€50,822 | +64.9% |
| Amounts payable | 17/49 | €11,332 | €19,105 | +€7,773 | +68.6% |
| Amounts payable within one year | 42/48 | €11,332 | €19,105 | +€7,773 | +68.6% |
| Trade debts | 44 | - | €1,539 | +€1,539 | |
| Suppliers | 440/4 | - | €1,539 | +€1,539 | |
| Taxes, remuneration and social security | 45 | €8,483 | €16,094 | +€7,611 | +89.7% |
| Taxes | 450/3 | €8,483 | €16,094 | +€7,611 | +89.7% |
| Other amounts payable | 47/48 | €2,848 | €1,471 | -€1,377 | -48.3% |
| Remuneration, social security and pensions | 62 | €214 | - | -€214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339 | €339 | = | 0.0% |
| Other operating charges | 640/8 | €6 | €9 | +€3 | +50.1% |
| Gross operating margin | 9900 | €42,452 | €64,455 | +€22,003 | +51.8% |
| Operating profit (loss) | 9901 | €41,893 | €64,107 | +€22,214 | +53.0% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €41,758 | €63,957 | +€22,199 | +53.2% |
| Income taxes | 67/77 | €8,656 | €13,135 | +€4,479 | +51.7% |
| Profit (loss) for the period | 9904 | €33,102 | €50,822 | +€17,720 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,102 | €50,822 | +€17,720 | +53.5% |
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.