GEBACONSTRUCT: 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.
GEBACONSTRUCT
Largest movements
- Cash +€31,075
up €31,075 (+35.8%), from €86,885 to €117,960
mainly Net result for the year (+€30,348) and Depreciation (+€24,165)
- Tangible fixed assets -€15,372
down €15,372 (-23.4%), from €65,592 to €50,220
of which Furniture and vehicles: -€16,150
- Receivables within one year -€9,453
down €9,453 (-20.8%), from €45,471 to €36,018
of which Trade receivables: -€5,572
- Stocks and contracts -€3,155
down €3,155 (-59.8%), from €5,280 to €2,125
- Reserves +€30,348
up €30,348 (+36.6%), from €83,001 to €113,349
of which Distributable reserves: +€32,506
- Trade debts -€15,876
down €15,876 (-60.9%), from €26,089 to €10,213
- Debts after one year -€7,120
down €7,120 (-17.3%), from €41,051 to €33,932
of which Financial debts: -€7,120
- Tax, wage and social debts +€6,526
up €6,526 (+63.8%), from €10,224 to €16,750
of which Remuneration and social security: +€4,400
- Other debts -€5,956
down €5,956 (-47.2%), from €12,608 to €6,652
- Gross operating margin +€23,170
up €23,170 (+46.9%), from €49,392 to €72,562
- Taxes +€6,817
up €6,817 (+89.6%), from €7,604 to €14,421
- Financial charges -€1,157
down €1,157 (-36.8%), from €3,144 to €1,987
- Depreciation -€827
down €827 (-3.3%), from €24,992 to €24,165
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 | €204,528 | €207,112 | +€2,584 | +1.3% |
| Fixed assets | 21/28 | €65,592 | €50,220 | -€15,372 | -23.4% |
| Tangible fixed assets | 22/27 | €65,592 | €50,220 | -€15,372 | -23.4% |
| Plant, machinery and equipment | 23 | €11,144 | €9,272 | -€1,872 | -16.8% |
| Furniture and vehicles | 24 | €40,350 | €24,200 | -€16,150 | -40.0% |
| Other tangible fixed assets | 26 | €14,097 | €16,748 | +€2,651 | +18.8% |
| Current assets | 29/58 | €138,936 | €156,892 | +€17,956 | +12.9% |
| Stocks and contracts in progress | 3 | €5,280 | €2,125 | -€3,155 | -59.8% |
| Stocks | 30/36 | €5,280 | €2,125 | -€3,155 | -59.8% |
| Amounts receivable within one year | 40/41 | €45,471 | €36,018 | -€9,453 | -20.8% |
| Trade receivables | 40 | €41,444 | €35,872 | -€5,572 | -13.4% |
| Other amounts receivable | 41 | €4,027 | €146 | -€3,882 | -96.4% |
| Cash at bank and in hand | 54/58 | €86,885 | €117,960 | +€31,075 | +35.8% |
| Deferred charges and accrued income | 490/1 | €1,300 | €790 | -€511 | -39.3% |
| Total equity and liabilities | 10/49 | €204,528 | €207,112 | +€2,584 | +1.3% |
| Equity | 10/15 | €101,601 | €131,949 | +€30,348 | +29.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,001 | €113,349 | +€30,348 | +36.6% |
| Tax-exempt reserves | 132 | €2,158 | €0 | -€2,158 | -100.0% |
| Distributable reserves | 133 | €80,843 | €113,349 | +€32,506 | +40.2% |
| Provisions and deferred taxes | 16 | €540 | €0 | -€540 | -100.0% |
| Deferred taxes | 168 | €540 | €0 | -€540 | -100.0% |
| Amounts payable | 17/49 | €102,387 | €75,163 | -€27,224 | -26.6% |
| Amounts payable after more than one year | 17 | €41,051 | €33,932 | -€7,120 | -17.3% |
| Financial debts | 170/4 | €21,051 | €13,932 | -€7,120 | -33.8% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €60,393 | €40,735 | -€19,658 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €11,472 | €7,120 | -€4,353 | -37.9% |
| Trade debts | 44 | €26,089 | €10,213 | -€15,876 | -60.9% |
| Suppliers | 440/4 | €26,089 | €10,213 | -€15,876 | -60.9% |
| Taxes, remuneration and social security | 45 | €10,224 | €16,750 | +€6,526 | +63.8% |
| Taxes | 450/3 | €5,824 | €7,950 | +€2,126 | +36.5% |
| Remuneration and social security | 454/9 | €4,400 | €8,800 | +€4,400 | +100.0% |
| Other amounts payable | 47/48 | €12,608 | €6,652 | -€5,956 | -47.2% |
| Accrued charges and deferred income | 492/3 | €943 | €497 | -€446 | -47.3% |
| Remuneration, social security and pensions | 62 | €391 | €0 | -€391 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,992 | €24,165 | -€827 | -3.3% |
| Other operating charges | 640/8 | €2,837 | €2,590 | -€248 | -8.7% |
| Gross operating margin | 9900 | €49,392 | €72,562 | +€23,170 | +46.9% |
| Operating profit (loss) | 9901 | €21,171 | €45,807 | +€24,635 | +116.4% |
| Financial income | 75/76B | €357 | €410 | +€52 | +14.6% |
| Recurring financial income | 75 | €357 | €410 | +€52 | +14.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,144 | €1,987 | -€1,157 | -36.8% |
| Recurring financial charges | 65 | €3,144 | €1,987 | -€1,157 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | €18,384 | €44,229 | +€25,845 | +140.6% |
| Transfer from deferred taxes | 780 | €613 | €540 | -€73 | -11.9% |
| Income taxes | 67/77 | €7,604 | €14,421 | +€6,817 | +89.6% |
| Profit (loss) for the period | 9904 | €11,393 | €30,348 | +€18,955 | +166.4% |
| Transfer from tax-exempt reserves | 789 | €2,451 | €2,158 | -€293 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,844 | €32,506 | +€18,662 | +134.8% |
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 9 October 2026 via checked.be.