GD CONSTRUCTION: what changed
What changed
GD CONSTRUCTION
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€43,786
2024 · €32,901+€10,885
Equity
€543,567
2024 · €499,781+€43,786
Cash
€336,920
2024 · €294,581+€42,339
Balance sheet total
€614,318
2024 · €625,052-€10,734
Largest movements
Assets
- Stocks and contracts -€79,544
down €79,544 (-96.9%), from €82,074 to €2,530
of which Contracts in progress: -€77,244
- Tangible fixed assets +€61,318
up €61,318 (+87.7%), from €69,946 to €131,264
of which Other tangible fixed assets: +€93,596
- Cash +€42,339
up €42,339 (+14.4%), from €294,581 to €336,920
mainly Stocks and contracts (+€79,544) and Depreciation (+€59,856)
- Receivables within one year -€34,477
down €34,477 (-28.5%), from €121,061 to €86,584
of which Trade receivables: -€57,283
Equity and liabilities
- Trade debts -€46,667
down €46,667 (-72.5%), from €64,336 to €17,669
- Reserves +€43,786
up €43,786 (+42.3%), from €103,473 to €147,259
of which Distributable reserves: +€43,786
- Debts after one year -€16,285
down €16,285 (-81.0%), from €20,111 to €3,826
Income statement
- Gross operating margin +€31,525
up €31,525 (+7.5%), from €422,575 to €454,100
- Staff costs -€28,350
down €28,350 (-8.4%), from €339,070 to €310,720
- Depreciation +€22,406
up €22,406 (+59.8%), from €37,450 to €59,856
- Taxes +€19,654
up €19,654 (+131%), from €14,974 to €34,628
- Other operating charges +€4,809
up €4,809 (+223%), from €2,152 to €6,961
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
€32,901
Gross operating margin
+€31,525
Staff costs
+€28,350
Depreciation
-€22,406
Other operating charges
-€4,809
Financial income
-€2,348
Financial charges
+€227
Taxes
-€19,654
Result 2025
€43,786
raises the resultlowers the result
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
+€177,597
Investment
-€119,174
Financing
-€16,084
Cash 2024
€294,581
From operations (derived)
+€177,597
Net result for the year
+€43,786
Depreciation
+€59,856
Stocks and contracts
+€79,544
Receivables within one year
+€34,477
Deferred charges and accrued income
-€1,630
Trade debts
-€46,667
Tax, wage and social debts
+€6,106
Other debts
+€2,125
Investment (derived)
-€119,174
Investment in fixed assets (net)
-€119,174
Financing
-€16,084
Debts after one year
-€16,285
Current portion of long-term debt
+€201
Cash 2025
€336,920
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €625,052 | €614,318 | -€10,734 | -1.7% |
| Fixed assets | 21/28 | €71,946 | €131,264 | +€59,318 | +82.4% |
| Intangible fixed assets | 21 | €2,000 | - | -€2,000 | |
| Tangible fixed assets | 22/27 | €69,946 | €131,264 | +€61,318 | +87.7% |
| Plant, machinery and equipment | 23 | €21,369 | €14,346 | -€7,023 | -32.9% |
| Furniture and vehicles | 24 | €14,437 | €5,578 | -€8,859 | -61.4% |
| Leasing and similar rights | 25 | €34,140 | €17,744 | -€16,396 | -48.0% |
| Other tangible fixed assets | 26 | - | €93,596 | +€93,596 | |
| Current assets | 29/58 | €553,106 | €483,054 | -€70,052 | -12.7% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €82,074 | €2,530 | -€79,544 | -96.9% |
| Stocks | 30/36 | €4,830 | €2,530 | -€2,300 | -47.6% |
| Contracts in progress | 37 | €77,244 | - | -€77,244 | |
| Amounts receivable within one year | 40/41 | €121,061 | €86,584 | -€34,477 | -28.5% |
| Trade receivables | 40 | €112,390 | €55,107 | -€57,283 | -51.0% |
| Other amounts receivable | 41 | €8,671 | €31,477 | +€22,806 | +263% |
| Cash at bank and in hand | 54/58 | €294,581 | €336,920 | +€42,339 | +14.4% |
| Deferred charges and accrued income | 490/1 | €5,390 | €7,020 | +€1,630 | +30.2% |
| Total equity and liabilities | 10/49 | €625,052 | €614,318 | -€10,734 | -1.7% |
| Equity | 10/15 | €499,781 | €543,567 | +€43,786 | +8.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €103,473 | €147,259 | +€43,786 | +42.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €82,863 | €126,649 | +€43,786 | +52.8% |
| Profit (loss) carried forward | 14 | €390,108 | €390,108 | = | 0.0% |
| Amounts payable | 17/49 | €125,271 | €70,751 | -€54,520 | -43.5% |
| Amounts payable after more than one year | 17 | €20,111 | €3,826 | -€16,285 | -81.0% |
| Financial debts | 170/4 | €20,111 | €3,826 | -€16,285 | -81.0% |
| Amounts payable within one year | 42/48 | €105,160 | €66,925 | -€38,235 | -36.4% |
| Current portion of amounts payable after more than one year | 42 | €16,084 | €16,285 | +€201 | +1.2% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €64,336 | €17,669 | -€46,667 | -72.5% |
| Suppliers | 440/4 | €64,336 | €17,669 | -€46,667 | -72.5% |
| Taxes, remuneration and social security | 45 | €19,113 | €25,219 | +€6,106 | +31.9% |
| Taxes | 450/3 | €639 | €10,378 | +€9,739 | +1,524% |
| Remuneration and social security | 454/9 | €18,474 | €14,841 | -€3,633 | -19.7% |
| Other amounts payable | 47/48 | €627 | €2,752 | +€2,125 | +339% |
| Remuneration, social security and pensions | 62 | €339,070 | €310,720 | -€28,350 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,450 | €59,856 | +€22,406 | +59.8% |
| Other operating charges | 640/8 | €2,152 | €6,961 | +€4,809 | +223% |
| Gross operating margin | 9900 | €422,575 | €454,100 | +€31,525 | +7.5% |
| Operating profit (loss) | 9901 | €43,903 | €76,563 | +€32,660 | +74.4% |
| Financial income | 75/76B | €4,966 | €2,618 | -€2,348 | -47.3% |
| Recurring financial income | 75 | €4,966 | €2,618 | -€2,348 | -47.3% |
| Financial charges | 65/66B | €994 | €767 | -€227 | -22.8% |
| Recurring financial charges | 65 | €994 | €767 | -€227 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €47,875 | €78,414 | +€30,539 | +63.8% |
| Income taxes | 67/77 | €14,974 | €34,628 | +€19,654 | +131% |
| Profit (loss) for the period | 9904 | €32,901 | €43,786 | +€10,885 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,901 | €43,786 | +€10,885 | +33.1% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 3 November 2026 via checked.be.