GAEL CONSTRUCTION: 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.
GAEL CONSTRUCTION
Largest movements
- Tangible fixed assets -€34,603
down €34,603 (-44.0%), from €78,564 to €43,961
of which Leasing and similar rights: -€31,150
- Receivables within one year -€19,853
down €19,853 (-71.5%), from €27,753 to €7,900
of which Trade receivables: -€21,549
- Cash +€7,482
up €7,482 (+12.8%), from €58,285 to €65,767
mainly Depreciation (+€46,359) and Receivables within one year (+€19,853)
- Stocks and contracts -€2,786
down €2,786 (-22.5%), from €12,372 to €9,586
- Debts after one year -€31,364
down €31,364 (-76.3%), from €41,127 to €9,763
- Profit (loss) carried forward -€23,658
down €23,658 (-36.2%), from €65,391 to €41,734
- Trade debts +€7,398
up €7,398 (+1,597%), from €463 to €7,861
- Tax, wage and social debts -€1,795
down €1,795 (-8.4%), from €21,269 to €19,474
- Turnover -€237,231
no longer reported in 2025 (was €237,231)
- Purchases and services -€223,570
no longer reported in 2025 (was €223,570)
- Gross operating margin -€73,432
down €73,432 (-69.2%), from €106,114 to €32,683
- Taxes -€11,374
down €11,374 (-90.0%), from €12,638 to €1,264
- Depreciation +€9,569
up €9,569 (+26.0%), from €36,791 to €46,359
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 | €178,255 | €128,512 | -€49,743 | -27.9% |
| Fixed assets | 21/28 | €78,564 | €43,961 | -€34,603 | -44.0% |
| Tangible fixed assets | 22/27 | €78,564 | €43,961 | -€34,603 | -44.0% |
| Plant, machinery and equipment | 23 | €11,869 | €3,924 | -€7,945 | -66.9% |
| Furniture and vehicles | 24 | €5,512 | €10,004 | +€4,491 | +81.5% |
| Leasing and similar rights | 25 | €61,183 | €30,032 | -€31,150 | -50.9% |
| Current assets | 29/58 | €99,691 | €84,551 | -€15,140 | -15.2% |
| Stocks and contracts in progress | 3 | €12,372 | €9,586 | -€2,786 | -22.5% |
| Stocks | 30/36 | €12,372 | €9,586 | -€2,786 | -22.5% |
| Amounts receivable within one year | 40/41 | €27,753 | €7,900 | -€19,853 | -71.5% |
| Trade receivables | 40 | €25,019 | €3,470 | -€21,549 | -86.1% |
| Other amounts receivable | 41 | €2,733 | €4,430 | +€1,697 | +62.1% |
| Cash at bank and in hand | 54/58 | €58,285 | €65,767 | +€7,482 | +12.8% |
| Deferred charges and accrued income | 490/1 | €1,281 | €1,298 | +€17 | +1.3% |
| Total equity and liabilities | 10/49 | €178,255 | €128,512 | -€49,743 | -27.9% |
| Equity | 10/15 | €68,391 | €44,734 | -€23,658 | -34.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,391 | €41,734 | -€23,658 | -36.2% |
| Amounts payable | 17/49 | €109,864 | €83,778 | -€26,086 | -23.7% |
| Amounts payable after more than one year | 17 | €41,127 | €9,763 | -€31,364 | -76.3% |
| Financial debts | 170/4 | €41,127 | €9,763 | -€31,364 | -76.3% |
| Amounts payable within one year | 42/48 | €68,736 | €74,015 | +€5,279 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €32,876 | €33,429 | +€553 | +1.7% |
| Trade debts | 44 | €463 | €7,861 | +€7,398 | +1,597% |
| Suppliers | 440/4 | €463 | €7,861 | +€7,398 | +1,597% |
| Taxes, remuneration and social security | 45 | €21,269 | €19,474 | -€1,795 | -8.4% |
| Taxes | 450/3 | €21,269 | €19,474 | -€1,795 | -8.4% |
| Other amounts payable | 47/48 | €14,128 | €13,252 | -€877 | -6.2% |
| Turnover | 70 | €237,231 | - | -€237,231 | |
| Non-recurring operating income | 76A | - | €2,098 | +€2,098 | |
| Goods, raw materials, services and sundry goods | 60/61 | €223,570 | - | -€223,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,791 | €46,359 | +€9,569 | +26.0% |
| Other operating charges | 640/8 | €663 | €812 | +€150 | +22.6% |
| Non-recurring operating charges | 66A | - | €2,698 | +€2,698 | |
| Gross operating margin | 9900 | €106,114 | €32,683 | -€73,432 | -69.2% |
| Operating profit (loss) | 9901 | €68,661 | -€17,187 | -€85,848 | |
| Financial income | 75/76B | €1,601 | €4 | -€1,598 | -99.8% |
| Recurring financial income | 75 | €1,601 | €4 | -€1,598 | -99.8% |
| Financial charges | 65/66B | €7,097 | €5,210 | -€1,886 | -26.6% |
| Recurring financial charges | 65 | €7,097 | €5,210 | -€1,886 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €63,166 | -€22,394 | -€85,560 | |
| Income taxes | 67/77 | €12,638 | €1,264 | -€11,374 | -90.0% |
| Profit (loss) for the period | 9904 | €50,528 | -€23,658 | -€74,185 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,528 | -€23,658 | -€74,185 |
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 17 October 2026 via checked.be.