GENERAL CONSTRUCT 2023: what changed
GENERAL CONSTRUCT 2023
Largest movements
- Receivables within one year -€26,616
down €26,616 (-25.7%), from €103,743 to €77,126
of which Trade receivables: -€26,557
- Cash -€15,720
down €15,720 (-42.9%), from €36,613 to €20,893
mainly Trade debts (-€20,316) and Net result for the year (-€10,861)
- Trade debts -€20,316
down €20,316 (-39.4%), from €51,531 to €31,214
- Reserves -€10,861
down €10,861 (-29.3%), from €37,062 to €26,201
- Tax, wage and social debts -€3,847
down €3,847 (-22.5%), from €17,129 to €13,282
of which Taxes: -€3,968
- Advances received -€3,774
no longer reported in 2025 (was €3,774)
- Other debts -€1,419
down €1,419 (-4.9%), from €28,797 to €27,378
- Gross operating margin -€70,792
down €70,792 (-59.2%), from €119,518 to €48,726
- Staff costs -€28,965
down €28,965 (-33.7%), from €85,913 to €56,948
- Taxes -€6,795
down €6,795 (-97.5%), from €6,966 to €171
- Financial charges +€2,258
up €2,258 (+5,017%), from €45 to €2,303
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €140,792 | €100,575 | -€40,217 | -28.6% |
| Fixed assets | 21/28 | €282 | €1,633 | +€1,351 | +479% |
| Tangible fixed assets | 22/27 | - | €1,351 | +€1,351 | |
| Plant, machinery and equipment | 23 | - | €1,351 | +€1,351 | |
| Financial fixed assets | 28 | €282 | €282 | = | 0.0% |
| Current assets | 29/58 | €140,510 | €98,942 | -€41,568 | -29.6% |
| Amounts receivable within one year | 40/41 | €103,743 | €77,126 | -€26,616 | -25.7% |
| Trade receivables | 40 | €102,999 | €76,441 | -€26,557 | -25.8% |
| Other amounts receivable | 41 | €744 | €685 | -€59 | -7.9% |
| Cash at bank and in hand | 54/58 | €36,613 | €20,893 | -€15,720 | -42.9% |
| Deferred charges and accrued income | 490/1 | €155 | €923 | +€768 | +497% |
| Total equity and liabilities | 10/49 | €140,792 | €100,575 | -€40,217 | -28.6% |
| Equity | 10/15 | €39,562 | €28,701 | -€10,861 | -27.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €37,062 | €26,201 | -€10,861 | -29.3% |
| Distributable reserves | 133 | €37,062 | €26,201 | -€10,861 | -29.3% |
| Amounts payable | 17/49 | €101,230 | €71,874 | -€29,356 | -29.0% |
| Amounts payable within one year | 42/48 | €101,230 | €71,874 | -€29,356 | -29.0% |
| Trade debts | 44 | €51,531 | €31,214 | -€20,316 | -39.4% |
| Suppliers | 440/4 | €51,531 | €31,214 | -€20,316 | -39.4% |
| Advances received on contracts in progress | 46 | €3,774 | - | -€3,774 | |
| Taxes, remuneration and social security | 45 | €17,129 | €13,282 | -€3,847 | -22.5% |
| Taxes | 450/3 | €11,105 | €7,137 | -€3,968 | -35.7% |
| Remuneration and social security | 454/9 | €6,024 | €6,145 | +€120 | +2.0% |
| Other amounts payable | 47/48 | €28,797 | €27,378 | -€1,419 | -4.9% |
| Remuneration, social security and pensions | 62 | €85,913 | €56,948 | -€28,965 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €58 | +€58 | |
| Other operating charges | 640/8 | - | €162 | +€162 | |
| Gross operating margin | 9900 | €119,518 | €48,726 | -€70,792 | -59.2% |
| Operating profit (loss) | 9901 | €33,606 | -€8,442 | -€42,048 | |
| Financial income | 75/76B | €302 | €55 | -€247 | -81.8% |
| Recurring financial income | 75 | €302 | €55 | -€247 | -81.8% |
| Financial charges | 65/66B | €45 | €2,303 | +€2,258 | +5,017% |
| Recurring financial charges | 65 | €45 | €2,303 | +€2,258 | +5,017% |
| Profit (loss) for the period before taxes | 9903 | €33,863 | -€10,690 | -€44,553 | |
| Income taxes | 67/77 | €6,966 | €171 | -€6,795 | -97.5% |
| Profit (loss) for the period | 9904 | €26,897 | -€10,861 | -€37,758 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,897 | -€10,861 | -€37,758 |
Next steps
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 2 November 2026 via checked.be.