GDconstruct: 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.
GDconstruct
Largest movements
- Receivables within one year +€17,241
up €17,241 (+79.6%), from €21,673 to €38,914
- Cash -€12,595
down €12,595 (-59.9%), from €21,037 to €8,442
mainly Contributions, distributions and other (-€21,000) and Receivables within one year (-€17,241)
- Tangible fixed assets -€1,093
down €1,093 (-16.7%), from €6,556 to €5,463
of which Furniture and vehicles: -€763
- Other debts +€28,483
up €28,483 (+154.4%), from €18,447 to €46,930
- Profit (loss) carried forward -€24,083
down €24,083, from €12,380 to -€11,703
- Trade debts +€4,182
up €4,182 (+131.8%), from €3,174 to €7,356
- Debts after one year -€2,408
no longer reported in 2025 (was €2,408)
- Tax, wage and social debts -€2,305
down €2,305 (-54.7%), from €4,212 to €1,907
- Gross operating margin +€14,216
up €14,216, from -€946 to €13,270
- Other operating charges +€10,337
up €10,337 (+2176.2%), from €475 to €10,812
- Taxes +€1,664
new in 2025: €1,664
- Depreciation +€640
up €640 (+21.7%), from €2,953 to €3,593
- Financial charges -€608
down €608 (-68.2%), from €892 to €284
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 | €49,266 | €52,898 | +€3,632 | +7.4% |
| Fixed assets | 21/28 | €6,556 | €5,463 | -€1,093 | -16.7% |
| Tangible fixed assets | 22/27 | €6,556 | €5,463 | -€1,093 | -16.7% |
| Plant, machinery and equipment | 23 | €1,310 | €980 | -€330 | -25.2% |
| Furniture and vehicles | 24 | €5,246 | €4,483 | -€763 | -14.5% |
| Current assets | 29/58 | €42,710 | €47,435 | +€4,725 | +11.1% |
| Amounts receivable within one year | 40/41 | €21,673 | €38,914 | +€17,241 | +79.6% |
| Trade receivables | 40 | €21,673 | €38,914 | +€17,241 | +79.6% |
| Cash at bank and in hand | 54/58 | €21,037 | €8,442 | -€12,595 | -59.9% |
| Deferred charges and accrued income | 490/1 | - | €79 | +€79 | |
| Total equity and liabilities | 10/49 | €49,266 | €52,898 | +€3,632 | +7.4% |
| Equity | 10/15 | €18,380 | -€5,703 | -€24,083 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,380 | -€11,703 | -€24,083 | |
| Amounts payable | 17/49 | €30,886 | €58,601 | +€27,715 | +89.7% |
| Amounts payable after more than one year | 17 | €2,408 | - | -€2,408 | |
| Financial debts | 170/4 | €2,408 | - | -€2,408 | |
| Amounts payable within one year | 42/48 | €27,957 | €58,601 | +€30,644 | +109.6% |
| Current portion of amounts payable after more than one year | 42 | €2,124 | €2,408 | +€284 | +13.4% |
| Trade debts | 44 | €3,174 | €7,356 | +€4,182 | +131.8% |
| Suppliers | 440/4 | €3,174 | €7,356 | +€4,182 | +131.8% |
| Taxes, remuneration and social security | 45 | €4,212 | €1,907 | -€2,305 | -54.7% |
| Taxes | 450/3 | €4,212 | €1,907 | -€2,305 | -54.7% |
| Other amounts payable | 47/48 | €18,447 | €46,930 | +€28,483 | +154.4% |
| Accrued charges and deferred income | 492/3 | €521 | - | -€521 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,953 | €3,593 | +€640 | +21.7% |
| Other operating charges | 640/8 | €475 | €10,812 | +€10,337 | +2176.2% |
| Gross operating margin | 9900 | -€946 | €13,270 | +€14,216 | |
| Operating profit (loss) | 9901 | -€4,374 | -€1,135 | +€3,239 | +74.1% |
| Financial income | 75/76B | €26 | - | -€26 | |
| Recurring financial income | 75 | €26 | - | -€26 | |
| Financial charges | 65/66B | €892 | €284 | -€608 | -68.2% |
| Recurring financial charges | 65 | €892 | €284 | -€608 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,240 | -€1,419 | +€3,821 | +72.9% |
| Income taxes | 67/77 | - | €1,664 | +€1,664 | |
| Profit (loss) for the period | 9904 | -€5,240 | -€3,083 | +€2,157 | +41.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,240 | -€3,083 | +€2,157 | +41.2% |
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 5 October 2026 via checked.be.