GB CONSTRUCT: what changed
What changed
GB CONSTRUCT
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
-€30,317
2024 · €31,890-€62,207
Equity
€412,599
2024 · €615,916-€203,317
Cash
€173,185
2024 · €230,809-€57,624
Balance sheet total
€593,299
2024 · €698,816-€105,517
Largest movements
Assets
- Cash -€57,624
down €57,624 (-25.0%), from €230,809 to €173,185
mainly Contributions, distributions and other (-€173,000) and Net result for the year (-€30,317)
- Tangible fixed assets -€38,938
down €38,938 (-10.6%), from €366,750 to €327,812
- Stocks and contracts -€11,778
down €11,778 (-24.9%), from €47,278 to €35,500
- Receivables within one year +€9,594
up €9,594 (+20.7%), from €46,315 to €55,909
of which Other amounts receivable: +€9,655
Equity and liabilities
- Reserves -€173,000
down €173,000 (-57.2%), from €302,560 to €129,560
of which Distributable reserves: -€173,000
- Other debts +€128,274
up €128,274 (+595%), from €21,574 to €149,848
- Profit (loss) carried forward -€30,317
down €30,317 (-9.9%), from €307,156 to €276,839
- Debts after one year -€13,473
down €13,473 (-73.2%), from €18,394 to €4,921
- Trade debts -€9,249
down €9,249 (-86.4%), from €10,710 to €1,461
Income statement
- Gross operating margin -€94,158
down €94,158 (-57.3%), from €164,359 to €70,201
- Staff costs -€30,432
down €30,432 (-36.1%), from €84,232 to €53,800
- Taxes -€10,110
down €10,110, from €6,431 to -€3,679
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€31,890
Gross operating margin
-€94,158
Staff costs
+€30,432
Depreciation
-€321
Other operating charges
+€499
Other operating items
-€6,984
Financial income
-€1,225
Financial charges
-€561
Taxes
+€10,110
Result 2025
-€30,317
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€128,704
Investment
-€0
Financing
-€186,328
Cash 2024
€230,809
From operations (derived)
+€128,704
Net result for the year
-€30,317
Depreciation
+€38,938
Stocks and contracts
+€11,778
Receivables within one year
-€9,594
Deferred charges and accrued income
+€6,771
Trade debts
-€9,249
Tax, wage and social debts
-€9,130
Other debts
+€128,274
Accrued charges and deferred income
+€1,233
Investment (derived)
-€0
Investment in fixed assets (net)
-€0
Financing
-€186,328
Debts after one year
-€13,473
Current portion of long-term debt
+€145
Contributions, distributions and other
-€173,000
Cash 2025
€173,185
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €698,816 | €593,299 | -€105,517 | -15.1% |
| Fixed assets | 21/28 | €366,750 | €327,812 | -€38,938 | -10.6% |
| Tangible fixed assets | 22/27 | €366,750 | €327,812 | -€38,938 | -10.6% |
| Land and buildings | 22 | €288,255 | €271,526 | -€16,729 | -5.8% |
| Plant, machinery and equipment | 23 | €26,001 | €15,984 | -€10,017 | -38.5% |
| Furniture and vehicles | 24 | €39,039 | €29,847 | -€9,192 | -23.5% |
| Leasing and similar rights | 25 | €13,455 | €10,455 | -€3,000 | -22.3% |
| Current assets | 29/58 | €332,066 | €265,487 | -€66,579 | -20.0% |
| Stocks and contracts in progress | 3 | €47,278 | €35,500 | -€11,778 | -24.9% |
| Stocks | 30/36 | €47,278 | €35,500 | -€11,778 | -24.9% |
| Amounts receivable within one year | 40/41 | €46,315 | €55,909 | +€9,594 | +20.7% |
| Trade receivables | 40 | €28,163 | €28,102 | -€61 | -0.2% |
| Other amounts receivable | 41 | €18,152 | €27,807 | +€9,655 | +53.2% |
| Cash at bank and in hand | 54/58 | €230,809 | €173,185 | -€57,624 | -25.0% |
| Deferred charges and accrued income | 490/1 | €7,664 | €893 | -€6,771 | -88.4% |
| Total equity and liabilities | 10/49 | €698,816 | €593,299 | -€105,517 | -15.1% |
| Equity | 10/15 | €615,916 | €412,599 | -€203,317 | -33.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €302,560 | €129,560 | -€173,000 | -57.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €300,700 | €127,700 | -€173,000 | -57.5% |
| Profit (loss) carried forward | 14 | €307,156 | €276,839 | -€30,317 | -9.9% |
| Amounts payable | 17/49 | €82,900 | €180,700 | +€97,800 | +118% |
| Amounts payable after more than one year | 17 | €18,394 | €4,921 | -€13,473 | -73.2% |
| Financial debts | 170/4 | €18,394 | €4,921 | -€13,473 | -73.2% |
| Amounts payable within one year | 42/48 | €64,506 | €174,547 | +€110,041 | +171% |
| Current portion of amounts payable after more than one year | 42 | €14,520 | €14,665 | +€145 | +1.0% |
| Trade debts | 44 | €10,710 | €1,461 | -€9,249 | -86.4% |
| Suppliers | 440/4 | €10,710 | €1,461 | -€9,249 | -86.4% |
| Taxes, remuneration and social security | 45 | €17,702 | €8,572 | -€9,130 | -51.6% |
| Taxes | 450/3 | €9,069 | €7,218 | -€1,851 | -20.4% |
| Remuneration and social security | 454/9 | €8,633 | €1,354 | -€7,279 | -84.3% |
| Other amounts payable | 47/48 | €21,574 | €149,848 | +€128,274 | +595% |
| Accrued charges and deferred income | 492/3 | - | €1,233 | +€1,233 | |
| Remuneration, social security and pensions | 62 | €84,232 | €53,800 | -€30,432 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,617 | €38,938 | +€321 | +0.8% |
| Other operating charges | 640/8 | €4,437 | €3,938 | -€499 | -11.3% |
| Non-recurring operating charges | 66A | - | €6,984 | +€6,984 | |
| Gross operating margin | 9900 | €164,359 | €70,201 | -€94,158 | -57.3% |
| Operating profit (loss) | 9901 | €37,073 | -€33,458 | -€70,531 | |
| Financial income | 75/76B | €3,325 | €2,100 | -€1,225 | -36.8% |
| Recurring financial income | 75 | €3,325 | €2,100 | -€1,225 | -36.8% |
| Financial charges | 65/66B | €2,077 | €2,638 | +€561 | +27.0% |
| Recurring financial charges | 65 | €2,077 | €2,638 | +€561 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €38,321 | -€33,997 | -€72,318 | |
| Income taxes | 67/77 | €6,431 | -€3,679 | -€10,110 | |
| Profit (loss) for the period | 9904 | €31,890 | -€30,317 | -€62,207 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,890 | -€30,317 | -€62,207 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.