GDF CONSTRUCT: what changed
Two financial 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.
GDF CONSTRUCT
Largest movements
- Receivables within one year +€12,624
up €12,624 (+340%), from €3,715 to €16,339
of which Trade receivables: +€11,660
- Tangible fixed assets -€8,283
down €8,283 (-31.1%), from €26,674 to €18,391
- Current investments +€3,000
up €3,000 (+49.1%), from €6,113 to €9,113
- Cash -€2,815
down €2,815 (-27.8%), from €10,126 to €7,311
mainly Receivables within one year (-€12,624) and Debts after one year (-€5,680)
- Profit (loss) carried forward +€8,176
up €8,176 (+783%), from €1,045 to €9,221
- Debts after one year -€5,680
down €5,680 (-37.6%), from €15,108 to €9,428
- Tax, wage and social debts +€1,671
up €1,671 (+39.2%), from €4,267 to €5,938
of which Taxes: +€3,671
- Turnover +€121,978
up €121,978 (+85.8%), from €142,167 to €264,145
- Purchases and services +€111,476
up €111,476 (+85.4%), from €130,541 to €242,017
- Gross operating margin +€10,502
up €10,502 (+90.3%), from €11,627 to €22,128
- Taxes +€3,473
up €3,473 (+420%), from €827 to €4,300
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.
Derived cash bridge
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 | €48,239 | €52,812 | +€4,573 | +9.5% |
| Fixed assets | 21/28 | €26,674 | €18,391 | -€8,283 | -31.1% |
| Tangible fixed assets | 22/27 | €26,674 | €18,391 | -€8,283 | -31.1% |
| Furniture and vehicles | 24 | €26,674 | €18,391 | -€8,283 | -31.1% |
| Current assets | 29/58 | €21,565 | €34,421 | +€12,856 | +59.6% |
| Amounts receivable within one year | 40/41 | €3,715 | €16,339 | +€12,624 | +340% |
| Trade receivables | 40 | €2,950 | €14,610 | +€11,660 | +395% |
| Other amounts receivable | 41 | €765 | €1,729 | +€964 | +126% |
| Current investments | 50/53 | €6,113 | €9,113 | +€3,000 | +49.1% |
| Cash at bank and in hand | 54/58 | €10,126 | €7,311 | -€2,815 | -27.8% |
| Deferred charges and accrued income | 490/1 | €1,612 | €1,658 | +€46 | +2.9% |
| Total equity and liabilities | 10/49 | €48,239 | €52,812 | +€4,573 | +9.5% |
| Equity | 10/15 | €21,045 | €29,221 | +€8,176 | +38.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | - | €20,000 | +€20,000 | |
| Issued capital | 100 | - | €20,000 | +€20,000 | |
| Profit (loss) carried forward | 14 | €1,045 | €9,221 | +€8,176 | +783% |
| Amounts payable | 17/49 | €27,194 | €23,591 | -€3,604 | -13.3% |
| Amounts payable after more than one year | 17 | €15,108 | €9,428 | -€5,680 | -37.6% |
| Financial debts | 170/4 | €15,108 | €9,428 | -€5,680 | -37.6% |
| Amounts payable within one year | 42/48 | €12,087 | €14,163 | +€2,076 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €5,869 | €5,680 | -€189 | -3.2% |
| Trade debts | 44 | €1,721 | €1,833 | +€112 | +6.5% |
| Suppliers | 440/4 | €1,721 | €1,833 | +€112 | +6.5% |
| Taxes, remuneration and social security | 45 | €4,267 | €5,938 | +€1,671 | +39.2% |
| Taxes | 450/3 | - | €3,671 | +€3,671 | |
| Remuneration and social security | 454/9 | €4,267 | €2,267 | -€2,000 | -46.9% |
| Other amounts payable | 47/48 | €229 | €712 | +€482 | +210% |
| Turnover | 70 | €142,167 | €264,145 | +€121,978 | +85.8% |
| Non-recurring operating income | 76A | - | €2,952 | +€2,952 | |
| Goods, raw materials, services and sundry goods | 60/61 | €130,541 | €242,017 | +€111,476 | +85.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,213 | €8,283 | +€2,071 | +33.3% |
| Other operating charges | 640/8 | €1,213 | €1,115 | -€98 | -8.1% |
| Gross operating margin | 9900 | €11,627 | €22,128 | +€10,502 | +90.3% |
| Operating profit (loss) | 9901 | €4,201 | €12,730 | +€8,529 | +203% |
| Financial income | 75/76B | €147 | €802 | +€655 | +447% |
| Recurring financial income | 75 | €147 | €802 | +€655 | +447% |
| Financial charges | 65/66B | €1,324 | €1,055 | -€269 | -20.3% |
| Recurring financial charges | 65 | €1,324 | €1,055 | -€269 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €3,023 | €12,476 | +€9,453 | +313% |
| Income taxes | 67/77 | €827 | €4,300 | +€3,473 | +420% |
| Profit (loss) for the period | 9904 | €2,196 | €8,176 | +€5,980 | +272% |
| Profit (loss) for the period to be appropriated | 9905 | €2,196 | €8,176 | +€5,980 | +272% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.