GBV 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.
GBV Construct
Largest movements
- Cash -€36,554
down €36,554 (-33.4%), from €109,567 to €73,012
mainly Tax, wage and social debts (-€36,392) and Receivables within one year (-€5,679)
- Receivables within one year +€5,679
up €5,679 (+2.7%), from €209,535 to €215,214
of which Other amounts receivable: +€5,679
- Stocks and contracts -€4,840
down €4,840 (-18.2%), from €26,584 to €21,744
- Tax, wage and social debts -€36,392
down €36,392 (-100.0%), from €36,392 to €0
- Gross operating margin -€93,456
down €93,456, from €87,819 to -€5,637
- Taxes -€24,026
down €24,026 (-100.0%), from €24,026 to €0
- Financial charges -€1,202
down €1,202 (-37.5%), from €3,205 to €2,003
- Financial income +€1,009
up €1,009 (+21.6%), from €4,671 to €5,679
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 | €345,685 | €309,970 | -€35,715 | -10.3% |
| Current assets | 29/58 | €345,685 | €309,970 | -€35,715 | -10.3% |
| Stocks and contracts in progress | 3 | €26,584 | €21,744 | -€4,840 | -18.2% |
| Stocks | 30/36 | €26,584 | €21,744 | -€4,840 | -18.2% |
| Amounts receivable within one year | 40/41 | €209,535 | €215,214 | +€5,679 | +2.7% |
| Trade receivables | 40 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 41 | €189,535 | €195,214 | +€5,679 | +3.0% |
| Cash at bank and in hand | 54/58 | €109,567 | €73,012 | -€36,554 | -33.4% |
| Total equity and liabilities | 10/49 | €345,685 | €309,970 | -€35,715 | -10.3% |
| Equity | 10/15 | €252,580 | €250,070 | -€2,510 | -1.0% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €679 | €679 | = | 0.0% |
| Non-distributable reserves | 130/1 | €679 | €679 | = | 0.0% |
| Reserves not available under the articles | 1311 | €679 | €679 | = | 0.0% |
| Profit (loss) carried forward | 14 | €213,901 | €211,390 | -€2,510 | -1.2% |
| Amounts payable | 17/49 | €93,105 | €59,900 | -€33,205 | -35.7% |
| Amounts payable within one year | 42/48 | €93,105 | €59,900 | -€33,205 | -35.7% |
| Trade debts | 44 | - | €1,486 | +€1,486 | |
| Suppliers | 440/4 | - | €1,486 | +€1,486 | |
| Taxes, remuneration and social security | 45 | €36,392 | €0 | -€36,392 | -100.0% |
| Taxes | 450/3 | €36,392 | €0 | -€36,392 | -100.0% |
| Other amounts payable | 47/48 | €56,713 | €58,414 | +€1,701 | +3.0% |
| Other operating charges | 640/8 | €1,115 | €549 | -€565 | -50.7% |
| Gross operating margin | 9900 | €87,819 | -€5,637 | -€93,456 | |
| Operating profit (loss) | 9901 | €86,704 | -€6,186 | -€92,890 | |
| Financial income | 75/76B | €4,671 | €5,679 | +€1,009 | +21.6% |
| Recurring financial income | 75 | €4,671 | €5,679 | +€1,009 | +21.6% |
| Financial charges | 65/66B | €3,205 | €2,003 | -€1,202 | -37.5% |
| Recurring financial charges | 65 | €3,205 | €2,003 | -€1,202 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €88,169 | -€2,510 | -€90,680 | |
| Income taxes | 67/77 | €24,026 | €0 | -€24,026 | -100.0% |
| Profit (loss) for the period | 9904 | €64,143 | -€2,510 | -€66,653 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,143 | -€2,510 | -€66,653 |
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 3 October 2026 via checked.be.