GEO & BUILD: 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.
GEO & BUILD
Largest movements
- Stocks and contracts +€213,957
up €213,957 (+74.4%), from €287,558 to €501,515
- Cash -€77,756
down €77,756 (-98.4%), from €79,025 to €1,269
mainly Stocks and contracts (-€213,957) and Other debts (-€112,195)
- Receivables within one year +€55,141
up €55,141 (+38.5%), from €143,062 to €198,203
of which Trade receivables: +€54,955
- Tangible fixed assets +€39,664
up €39,664 (+166%), from €23,935 to €63,599
- Deferred charges and accrued income -€14,875
down €14,875 (-72.0%), from €20,665 to €5,790
- Debts after one year +€151,103
up €151,103 (+2,953%), from €5,117 to €156,220
of which Other amounts payable: +€88,326
- Other debts -€112,195
no longer reported in 2025 (was €112,195)
- Current portion of long-term debt +€85,646
up €85,646 (+1,478%), from €5,794 to €91,440
- Trade debts +€43,140
up €43,140 (+32.8%), from €131,517 to €174,656
- Reserves +€29,000
up €29,000 (+11.4%), from €253,855 to €282,855
- Gross operating margin +€24,388
up €24,388 (+19.4%), from €126,007 to €150,395
- Staff costs +€20,852
up €20,852 (+40.9%), from €51,030 to €71,881
- Depreciation -€19,170
down €19,170 (-75.2%), from €25,507 to €6,337
- Financial charges +€8,776
up €8,776 (+186%), from €4,719 to €13,494
- Taxes +€2,585
up €2,585 (+29.7%), from €8,700 to €11,285
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 | €554,420 | €770,550 | +€216,131 | +39.0% |
| Fixed assets | 21/28 | €24,110 | €63,774 | +€39,664 | +165% |
| Tangible fixed assets | 22/27 | €23,935 | €63,599 | +€39,664 | +166% |
| Furniture and vehicles | 24 | €23,935 | €63,599 | +€39,664 | +166% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €530,310 | €706,777 | +€176,467 | +33.3% |
| Stocks and contracts in progress | 3 | €287,558 | €501,515 | +€213,957 | +74.4% |
| Stocks | 30/36 | €287,558 | €501,515 | +€213,957 | +74.4% |
| Amounts receivable within one year | 40/41 | €143,062 | €198,203 | +€55,141 | +38.5% |
| Trade receivables | 40 | €130,602 | €185,558 | +€54,955 | +42.1% |
| Other amounts receivable | 41 | €12,459 | €12,645 | +€186 | +1.5% |
| Cash at bank and in hand | 54/58 | €79,025 | €1,269 | -€77,756 | -98.4% |
| Deferred charges and accrued income | 490/1 | €20,665 | €5,790 | -€14,875 | -72.0% |
| Total equity and liabilities | 10/49 | €554,420 | €770,550 | +€216,131 | +39.0% |
| Equity | 10/15 | €280,341 | €310,130 | +€29,789 | +10.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €253,855 | €282,855 | +€29,000 | +11.4% |
| Distributable reserves | 133 | €253,855 | €282,855 | +€29,000 | +11.4% |
| Profit (loss) carried forward | 14 | €7,936 | €8,725 | +€789 | +9.9% |
| Amounts payable | 17/49 | €274,078 | €460,420 | +€186,342 | +68.0% |
| Amounts payable after more than one year | 17 | €5,117 | €156,220 | +€151,103 | +2,953% |
| Financial debts | 170/4 | €5,117 | €67,894 | +€62,777 | +1,227% |
| Other amounts payable | 178/9 | - | €88,326 | +€88,326 | |
| Amounts payable within one year | 42/48 | €268,364 | €299,365 | +€31,001 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €5,794 | €91,440 | +€85,646 | +1,478% |
| Financial debts | 43 | - | €15,154 | +€15,154 | |
| Credit institutions | 430/8 | - | €15,154 | +€15,154 | |
| Trade debts | 44 | €131,517 | €174,656 | +€43,140 | +32.8% |
| Suppliers | 440/4 | €131,517 | €174,656 | +€43,140 | +32.8% |
| Taxes, remuneration and social security | 45 | €18,858 | €18,115 | -€744 | -3.9% |
| Taxes | 450/3 | €12,111 | €11,285 | -€826 | -6.8% |
| Remuneration and social security | 454/9 | €6,748 | €6,830 | +€82 | +1.2% |
| Other amounts payable | 47/48 | €112,195 | - | -€112,195 | |
| Accrued charges and deferred income | 492/3 | €598 | €4,835 | +€4,238 | +709% |
| Remuneration, social security and pensions | 62 | €51,030 | €71,881 | +€20,852 | +40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,507 | €6,337 | -€19,170 | -75.2% |
| Other operating charges | 640/8 | €19,038 | €17,626 | -€1,412 | -7.4% |
| Gross operating margin | 9900 | €126,007 | €150,395 | +€24,388 | +19.4% |
| Operating profit (loss) | 9901 | €30,432 | €54,551 | +€24,119 | +79.3% |
| Financial income | 75/76B | €0 | €18 | +€17 | +19,378% |
| Recurring financial income | 75 | €0 | €18 | +€17 | +19,378% |
| Financial charges | 65/66B | €4,719 | €13,494 | +€8,776 | +186% |
| Recurring financial charges | 65 | €4,719 | €13,494 | +€8,776 | +186% |
| Profit (loss) for the period before taxes | 9903 | €25,713 | €41,074 | +€15,361 | +59.7% |
| Income taxes | 67/77 | €8,700 | €11,285 | +€2,585 | +29.7% |
| Profit (loss) for the period | 9904 | €17,013 | €29,789 | +€12,776 | +75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,013 | €29,789 | +€12,776 | +75.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.