G-S 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.
G-S CONSTRUCT
Largest movements
- Cash -€193,856
down €193,856 (-58.7%), from €330,289 to €136,434
mainly Contributions, distributions and other (-€398,718) and Tax, wage and social debts (-€22,228)
- Tangible fixed assets +€12,203
up €12,203 (+206.0%), from €5,923 to €18,125
of which Furniture and vehicles: +€11,270
- Receivables within one year +€4,304
up €4,304 (+25.2%), from €17,076 to €21,380
of which Trade receivables: +€4,429
- Profit (loss) carried forward -€276,063
down €276,063 (-100.0%), from €276,063 to €0
- Other debts +€122,655
up €122,655, from €0 to €122,655
- Tax, wage and social debts -€22,228
down €22,228 (-28.2%), from €78,787 to €56,559
- Accrued charges and deferred income -€6,000
down €6,000 (-100.0%), from €6,000 to €0
- Gross operating margin +€21,325
up €21,325 (+13.8%), from €154,649 to €175,973
- Taxes +€5,498
up €5,498 (+15.7%), from €34,935 to €40,433
- Depreciation +€4,454
up €4,454 (+174.8%), from €2,548 to €7,003
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 | €362,161 | €184,328 | -€177,833 | -49.1% |
| Fixed assets | 21/28 | €5,923 | €18,125 | +€12,203 | +206.0% |
| Tangible fixed assets | 22/27 | €5,923 | €18,125 | +€12,203 | +206.0% |
| Plant, machinery and equipment | 23 | - | €932 | +€932 | |
| Furniture and vehicles | 24 | €5,923 | €17,193 | +€11,270 | +190.3% |
| Current assets | 29/58 | €356,238 | €166,203 | -€190,036 | -53.3% |
| Amounts receivable within one year | 40/41 | €17,076 | €21,380 | +€4,304 | +25.2% |
| Trade receivables | 40 | €16,625 | €21,054 | +€4,429 | +26.6% |
| Other amounts receivable | 41 | €450 | €326 | -€124 | -27.6% |
| Cash at bank and in hand | 54/58 | €330,289 | €136,434 | -€193,856 | -58.7% |
| Deferred charges and accrued income | 490/1 | €8,873 | €8,389 | -€484 | -5.5% |
| Total equity and liabilities | 10/49 | €362,161 | €184,328 | -€177,833 | -49.1% |
| Equity | 10/15 | €276,063 | €0 | -€276,063 | -100.0% |
| Profit (loss) carried forward | 14 | €276,063 | €0 | -€276,063 | -100.0% |
| Amounts payable | 17/49 | €86,098 | €184,328 | +€98,230 | +114.1% |
| Amounts payable within one year | 42/48 | €80,098 | €184,328 | +€104,230 | +130.1% |
| Current portion of amounts payable after more than one year | 42 | - | €1,946 | +€1,946 | |
| Trade debts | 44 | €1,311 | €3,167 | +€1,856 | +141.5% |
| Suppliers | 440/4 | €1,311 | €3,167 | +€1,856 | +141.5% |
| Taxes, remuneration and social security | 45 | €78,787 | €56,559 | -€22,228 | -28.2% |
| Taxes | 450/3 | €78,787 | €56,559 | -€22,228 | -28.2% |
| Other amounts payable | 47/48 | €0 | €122,655 | +€122,655 | |
| Accrued charges and deferred income | 492/3 | €6,000 | €0 | -€6,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,548 | €7,003 | +€4,454 | +174.8% |
| Other operating charges | 640/8 | €1,780 | €2,597 | +€817 | +45.9% |
| Non-recurring operating charges | 66A | - | €991 | +€991 | |
| Gross operating margin | 9900 | €154,649 | €175,973 | +€21,325 | +13.8% |
| Operating profit (loss) | 9901 | €150,320 | €165,382 | +€15,062 | +10.0% |
| Financial income | 75/76B | €6 | €71 | +€65 | +1082.9% |
| Recurring financial income | 75 | €6 | €71 | +€65 | +1082.9% |
| Financial charges | 65/66B | €2,748 | €2,365 | -€384 | -14.0% |
| Recurring financial charges | 65 | €2,748 | €2,365 | -€384 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €147,578 | €163,089 | +€15,511 | +10.5% |
| Income taxes | 67/77 | €34,935 | €40,433 | +€5,498 | +15.7% |
| Profit (loss) for the period | 9904 | €112,643 | €122,655 | +€10,013 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €112,643 | €122,655 | +€10,013 | +8.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.