GAV ELECTROCONSTRUCT: 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.
GAV ELECTROCONSTRUCT
Largest movements
- Receivables within one year +€15,540
up €15,540 (+12.4%), from €125,713 to €141,253
of which Other amounts receivable: +€10,858
- Tangible fixed assets +€7,521
new in 2025: €7,521
- Cash -€3,976
down €3,976 (-100.0%), from €3,976 to €0
mainly Receivables within one year (-€15,540) and Investment in fixed assets (net) (-€14,799)
- Accrued charges and deferred income +€13,400
new in 2025: €13,400
- Tax, wage and social debts -€6,462
down €6,462 (-32.5%), from €19,875 to €13,413
of which Taxes: -€7,062
- Profit (loss) carried forward +€6,151
up €6,151 (+8.3%), from €74,206 to €80,358
- Short-term financial debts +€4,801
new in 2025: €4,801
- Trade debts +€2,374
up €2,374 (+7.7%), from €30,719 to €33,093
- Depreciation +€6,764
up €6,764 (+1315.9%), from €514 to €7,278
- Financial charges -€624
down €624 (-29.6%), from €2,109 to €1,485
- Other operating charges -€526
down €526 (-21.0%), from €2,509 to €1,983
- Financial income +€413
up €413 (+11.6%), from €3,574 to €3,987
- Taxes +€305
up €305 (+6.4%), from €4,758 to €5,062
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 | €132,860 | €153,124 | +€20,264 | +15.3% |
| Fixed assets | 21/28 | €1,375 | €8,896 | +€7,521 | +547.0% |
| Tangible fixed assets | 22/27 | - | €7,521 | +€7,521 | |
| Furniture and vehicles | 24 | - | €7,521 | +€7,521 | |
| Financial fixed assets | 28 | €1,375 | €1,375 | = | 0.0% |
| Current assets | 29/58 | €131,485 | €144,228 | +€12,743 | +9.7% |
| Amounts receivable within one year | 40/41 | €125,713 | €141,253 | +€15,540 | +12.4% |
| Trade receivables | 40 | €54,143 | €58,824 | +€4,681 | +8.6% |
| Other amounts receivable | 41 | €71,571 | €82,429 | +€10,858 | +15.2% |
| Cash at bank and in hand | 54/58 | €3,976 | €0 | -€3,976 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,795 | €2,975 | +€1,180 | +65.7% |
| Total equity and liabilities | 10/49 | €132,860 | €153,124 | +€20,264 | +15.3% |
| Equity | 10/15 | €82,266 | €88,418 | +€6,151 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,206 | €80,358 | +€6,151 | +8.3% |
| Amounts payable | 17/49 | €50,594 | €64,707 | +€14,113 | +27.9% |
| Amounts payable within one year | 42/48 | €50,594 | €51,307 | +€713 | +1.4% |
| Financial debts | 43 | - | €4,801 | +€4,801 | |
| Credit institutions | 430/8 | - | €4,801 | +€4,801 | |
| Trade debts | 44 | €30,719 | €33,093 | +€2,374 | +7.7% |
| Suppliers | 440/4 | €30,719 | €33,093 | +€2,374 | +7.7% |
| Taxes, remuneration and social security | 45 | €19,875 | €13,413 | -€6,462 | -32.5% |
| Taxes | 450/3 | €19,875 | €12,813 | -€7,062 | -35.5% |
| Remuneration and social security | 454/9 | - | €600 | +€600 | |
| Accrued charges and deferred income | 492/3 | - | €13,400 | +€13,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €514 | €7,278 | +€6,764 | +1315.9% |
| Other operating charges | 640/8 | €2,509 | €1,983 | -€526 | -21.0% |
| Gross operating margin | 9900 | €18,098 | €17,972 | -€126 | -0.7% |
| Operating profit (loss) | 9901 | €15,075 | €8,711 | -€6,364 | -42.2% |
| Financial income | 75/76B | €3,574 | €3,987 | +€413 | +11.6% |
| Recurring financial income | 75 | €3,574 | €3,987 | +€413 | +11.6% |
| Financial charges | 65/66B | €2,109 | €1,485 | -€624 | -29.6% |
| Recurring financial charges | 65 | €2,109 | €1,485 | -€624 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €16,540 | €11,214 | -€5,327 | -32.2% |
| Income taxes | 67/77 | €4,758 | €5,062 | +€305 | +6.4% |
| Profit (loss) for the period | 9904 | €11,783 | €6,151 | -€5,631 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,783 | €6,151 | -€5,631 | -47.8% |
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 28 September 2026 via checked.be.