G - TEC: 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.
What changed
G - TEC
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4.5m
2024 · -€1.6m-€2.9m
Equity
€17.2m
2024 · €1.7m+€15.5m
Cash
€241,025
2024 · €361,609-€120,584
Balance sheet total
€29.6m
2024 · €17.0m+€12.6m
Largest movements
Assets
- Receivables within one year +€12.3m
up €12.3m (+89.6%), from €13.7m to €26.0m
of which Other amounts receivable: +€16.7m
- Stocks and contracts +€585,052
up €585,052 (+6156.9%), from €9,502 to €594,554
of which Contracts in progress: +€574,615
Equity and liabilities
- Profit (loss) carried forward +€8.4m
up €8.4m (+64.9%), from -€12.9m to -€4.5m
- Contributions +€7.1m
up €7.1m (+48.9%), from €14.6m to €21.7m
- Trade debts -€1.9m
down €1.9m (-42.1%), from €4.4m to €2.6m
- Advances received -€1.6m
down €1.6m (-97.1%), from €1.6m to €46,479
- Tax, wage and social debts +€405,100
up €405,100 (+28.1%), from €1.4m to €1.8m
of which Taxes: +€240,016
Income statement
- Turnover -€16.8m
down €16.8m (-57.4%), from €29.3m to €12.5m
- Goods and materials -€10.3m
down €10.3m (-58.3%), from €17.6m to €7.4m
of which Purchases: -€10.2m
- Financial charges -€2.6m
down €2.6m (-84.3%), from €3.1m to €493,418
of which Non-recurring financial charges: -€2.7m
- Staff costs +€1.2m
up €1.2m (+19.6%), from €6.0m to €7.2m
- Other operating income +€860,567
up €860,567 (+172.8%), from €498,054 to €1.4m
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.
Result 2024
-€1.6m
Turnover
-€16.8m
Other operating income
+€860,567
Goods and materials
+€10.3m
Services and other goods
+€774,773
Staff costs
-€1.2m
Depreciation
-€53,153
Write-downs
-€10,896
Provisions
-€9,207
Other operating charges
-€1,710
Other operating items
+€574,615
Financial income
+€36,370
Financial charges
+€2.6m
Taxes
+€19,702
Result 2025
-€4.5m
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.
From operations
-€19.7m
Investment
-€453,984
Financing
+€20.0m
Cash 2024
€361,609
From operations (derived)
-€19.7m
Net result for the year
-€4.5m
Depreciation
+€564,772
Stocks and contracts
-€585,052
Receivables within one year
-€12.3m
Smaller working-capital items
-€14,504
Trade debts
-€1.9m
Tax, wage and social debts
+€405,100
Advances received
-€1.6m
Accrued charges and deferred income
+€183,206
Investment (derived)
-€453,984
Investment in fixed assets (net)
-€453,984
Financing
+€20.0m
Contributions, distributions and other
+€20.0m
Cash 2025
€241,025
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,989,104 | €29,629,596 | +€12.6m | +74.4% |
| Fixed assets | 21/28 | €2,808,824 | €2,698,036 | -€110,788 | -3.9% |
| Intangible fixed assets | 21 | €8,724 | €20,754 | +€12,030 | +137.9% |
| Tangible fixed assets | 22/27 | €1,800,100 | €1,653,908 | -€146,192 | -8.1% |
| Land and buildings | 22 | - | €120,422 | +€120,422 | |
| Plant, machinery and equipment | 23 | €1,707,658 | €1,374,273 | -€333,385 | -19.5% |
| Furniture and vehicles | 24 | €92,442 | €64,960 | -€27,483 | -29.7% |
| Assets under construction and advance payments | 27 | - | €94,253 | +€94,253 | |
| Financial fixed assets | 28 | €1,000,000 | €1,023,374 | +€23,374 | +2.3% |
| Affiliated companies | 280/1 | €1,000,000 | €1,023,374 | +€23,374 | +2.3% |
| Participating interests | 280 | €1,000,000 | €1,023,374 | +€23,374 | +2.3% |
| Current assets | 29/58 | €14,180,280 | €26,931,560 | +€12.8m | +89.9% |
| Stocks and contracts in progress | 3 | €9,502 | €594,554 | +€585,052 | +6156.9% |
| Stocks | 30/36 | €9,502 | €19,939 | +€10,436 | +109.8% |
| Raw materials and consumables | 30/31 | €9,502 | €19,939 | +€10,436 | +109.8% |
| Contracts in progress | 37 | - | €574,615 | +€574,615 | |
| Amounts receivable within one year | 40/41 | €13,693,844 | €25,956,945 | +€12.3m | +89.6% |
| Trade receivables | 40 | €8,676,655 | €4,257,003 | -€4.4m | -50.9% |
| Other amounts receivable | 41 | €5,017,189 | €21,699,942 | +€16.7m | +332.5% |
| Cash at bank and in hand | 54/58 | €361,609 | €241,025 | -€120,584 | -33.3% |
| Deferred charges and accrued income | 490/1 | €115,326 | €139,036 | +€23,711 | +20.6% |
| Total equity and liabilities | 10/49 | €16,989,104 | €29,629,596 | +€12.6m | +74.4% |
| Equity | 10/15 | €1,716,761 | €17,203,861 | +€15.5m | +902.1% |
| Contributions | 10/11 | €14,570,882 | €21,696,073 | +€7.1m | +48.9% |
| Capital | 10 | €14,570,882 | €21,696,073 | +€7.1m | +48.9% |
| Issued capital | 100 | €14,570,882 | €21,696,073 | +€7.1m | +48.9% |
| Reserves | 13 | €20,689 | €20,689 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,689 | €20,689 | = | 0.0% |
| Legal reserve | 130 | €20,689 | €20,689 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,874,809 | -€4,512,901 | +€8.4m | +64.9% |
| Provisions and deferred taxes | 16 | - | €9,207 | +€9,207 | |
| Provisions for liabilities and charges | 160/5 | - | €9,207 | +€9,207 | |
| Pensions and similar obligations | 160 | - | €9,207 | +€9,207 | |
| Amounts payable | 17/49 | €15,272,343 | €12,416,528 | -€2.9m | -18.7% |
| Amounts payable after more than one year | 17 | €7,227,835 | €7,227,835 | = | 0.0% |
| Financial debts | 170/4 | €7,227,835 | €7,227,835 | = | 0.0% |
| Subordinated loans | 170 | €7,227,835 | €7,227,835 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,509,949 | €4,470,928 | -€3.0m | -40.5% |
| Trade debts | 44 | €4,448,638 | €2,575,876 | -€1.9m | -42.1% |
| Suppliers | 440/4 | €4,448,638 | €2,575,876 | -€1.9m | -42.1% |
| Advances received on contracts in progress | 46 | €1,617,838 | €46,479 | -€1.6m | -97.1% |
| Taxes, remuneration and social security | 45 | €1,443,473 | €1,848,573 | +€405,100 | +28.1% |
| Taxes | 450/3 | - | €240,016 | +€240,016 | |
| Remuneration and social security | 454/9 | €1,443,473 | €1,608,557 | +€165,084 | +11.4% |
| Accrued charges and deferred income | 492/3 | €534,559 | €717,764 | +€183,206 | +34.3% |
| Operating income | 70/76A | €29,761,818 | €14,386,230 | -€15.4m | -51.7% |
| Turnover | 70 | €29,263,764 | €12,452,993 | -€16.8m | -57.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €574,615 | +€574,615 | |
| Other operating income | 74 | €498,054 | €1,358,621 | +€860,567 | +172.8% |
| Operating charges | 60/66A | €28,606,056 | €18,806,493 | -€9.8m | -34.3% |
| Goods for resale, raw materials and consumables | 60 | €17,630,491 | €7,353,515 | -€10.3m | -58.3% |
| Purchases | 600/8 | €17,545,344 | €7,363,951 | -€10.2m | -58.0% |
| Change in stocks: decrease (increase) | 609 | €85,147 | -€10,436 | -€95,583 | |
| Services and other goods | 61 | €4,445,504 | €3,670,731 | -€774,773 | -17.4% |
| Remuneration, social security and pensions | 62 | €5,995,998 | €7,173,217 | +€1.2m | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €511,618 | €564,772 | +€53,153 | +10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,896 | - | +€10,896 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €9,207 | +€9,207 | |
| Other operating charges | 640/8 | €33,341 | €35,051 | +€1,710 | +5.1% |
| Operating profit (loss) | 9901 | €1,155,762 | -€4,420,263 | -€5.6m | |
| Financial income | 75/76B | €383,377 | €419,747 | +€36,370 | +9.5% |
| Recurring financial income | 75 | €378,162 | €396,373 | +€18,211 | +4.8% |
| Income from current assets | 751 | €39,156 | €32 | -€39,124 | -99.9% |
| Other financial income | 752/9 | €339,006 | €396,341 | +€57,335 | +16.9% |
| Non-recurring financial income | 76B | €5,215 | €23,374 | +€18,159 | +348.2% |
| Financial charges | 65/66B | €3,141,667 | €493,418 | -€2.6m | -84.3% |
| Recurring financial charges | 65 | €450,467 | €493,418 | +€42,951 | +9.5% |
| Debt charges | 650 | €184,949 | €183,206 | -€1,744 | -0.9% |
| Other financial charges | 652/9 | €265,518 | €310,213 | +€44,695 | +16.8% |
| Non-recurring financial charges | 66B | €2,691,200 | - | -€2.7m | |
| Profit (loss) for the period before taxes | 9903 | -€1,602,529 | -€4,493,935 | -€2.9m | -180.4% |
| Income taxes | 67/77 | €38,668 | €18,966 | -€19,702 | -51.0% |
| Taxes | 670/3 | €38,668 | €18,966 | -€19,702 | -51.0% |
| Profit (loss) for the period | 9904 | -€1,641,196 | -€4,512,901 | -€2.9m | -175.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,641,196 | -€4,512,901 | -€2.9m | -175.0% |
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 12 October 2026 via checked.be.