GDL Construction: 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.
GDL Construction
Largest movements
- Cash +€94,590
up €94,590 (+154.5%), from €61,214 to €155,804
mainly Net result for the year (+€129,598) and Depreciation (+€35,400)
- Tangible fixed assets -€11,802
down €11,802 (-2.6%), from €459,901 to €448,099
of which Land and buildings: -€24,172
- Reserves +€100,000
up €100,000 (+26.2%), from €381,860 to €481,860
of which Distributable reserves: +€100,000
- Debts after one year -€31,714
down €31,714 (-9.6%), from €330,148 to €298,434
- Other debts +€10,588
up €10,588 (+60.0%), from €17,647 to €28,235
- Tax, wage and social debts +€9,737
up €9,737 (+31.4%), from €31,031 to €40,768
of which Taxes: +€8,237
- Gross operating margin +€25,900
up €25,900 (+13.6%), from €190,740 to €216,640
- Depreciation -€10,286
down €10,286 (-22.5%), from €45,686 to €35,400
- Taxes +€8,646
up €8,646 (+28.1%), from €30,721 to €39,368
- Other operating charges +€3,022
up €3,022 (+57.4%), from €5,260 to €8,282
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 | €831,435 | €922,846 | +€91,411 | +11.0% |
| Fixed assets | 21/28 | €499,901 | €488,099 | -€11,802 | -2.4% |
| Tangible fixed assets | 22/27 | €459,901 | €448,099 | -€11,802 | -2.6% |
| Land and buildings | 22 | €439,708 | €415,535 | -€24,172 | -5.5% |
| Plant, machinery and equipment | 23 | €6,383 | €15,805 | +€9,423 | +147.6% |
| Furniture and vehicles | 24 | €13,811 | €16,759 | +€2,948 | +21.3% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €331,534 | €434,747 | +€103,213 | +31.1% |
| Stocks and contracts in progress | 3 | €43,281 | €42,582 | -€699 | -1.6% |
| Stocks | 30/36 | €43,281 | €42,582 | -€699 | -1.6% |
| Amounts receivable within one year | 40/41 | €219,781 | €228,841 | +€9,060 | +4.1% |
| Trade receivables | 40 | €68,531 | €15,278 | -€53,253 | -77.7% |
| Other amounts receivable | 41 | €151,250 | €213,563 | +€62,313 | +41.2% |
| Cash at bank and in hand | 54/58 | €61,214 | €155,804 | +€94,590 | +154.5% |
| Deferred charges and accrued income | 490/1 | €7,257 | €7,520 | +€262 | +3.6% |
| Total equity and liabilities | 10/49 | €831,435 | €922,846 | +€91,411 | +11.0% |
| Equity | 10/15 | €405,073 | €506,436 | +€101,362 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €381,860 | €481,860 | +€100,000 | +26.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €380,000 | €480,000 | +€100,000 | +26.3% |
| Profit (loss) carried forward | 14 | €4,613 | €5,976 | +€1,362 | +29.5% |
| Amounts payable | 17/49 | €426,362 | €416,410 | -€9,951 | -2.3% |
| Amounts payable after more than one year | 17 | €330,148 | €298,434 | -€31,714 | -9.6% |
| Financial debts | 170/4 | €330,148 | €298,434 | -€31,714 | -9.6% |
| Amounts payable within one year | 42/48 | €96,214 | €117,976 | +€21,763 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €32,169 | €31,714 | -€455 | -1.4% |
| Trade debts | 44 | €15,367 | €17,259 | +€1,892 | +12.3% |
| Suppliers | 440/4 | €15,367 | €17,259 | +€1,892 | +12.3% |
| Taxes, remuneration and social security | 45 | €31,031 | €40,768 | +€9,737 | +31.4% |
| Taxes | 450/3 | €18,731 | €26,968 | +€8,237 | +44.0% |
| Remuneration and social security | 454/9 | €12,300 | €13,800 | +€1,500 | +12.2% |
| Other amounts payable | 47/48 | €17,647 | €28,235 | +€10,588 | +60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,686 | €35,400 | -€10,286 | -22.5% |
| Other operating charges | 640/8 | €5,260 | €8,282 | +€3,022 | +57.4% |
| Gross operating margin | 9900 | €190,740 | €216,640 | +€25,900 | +13.6% |
| Operating profit (loss) | 9901 | €139,794 | €172,958 | +€33,165 | +23.7% |
| Financial income | 75/76B | €0 | €415 | +€415 | +2077350.0% |
| Recurring financial income | 75 | €0 | €415 | +€415 | +2077350.0% |
| Financial charges | 65/66B | €4,904 | €4,409 | -€495 | -10.1% |
| Recurring financial charges | 65 | €4,904 | €4,409 | -€495 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €134,890 | €168,965 | +€34,075 | +25.3% |
| Income taxes | 67/77 | €30,721 | €39,368 | +€8,646 | +28.1% |
| Profit (loss) for the period | 9904 | €104,169 | €129,598 | +€25,429 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €104,169 | €129,598 | +€25,429 | +24.4% |
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 10 October 2026 via checked.be.