GERARD CONSTRUCT: 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.
GERARD CONSTRUCT
Largest movements
- Tangible fixed assets -€8,511
down €8,511 (-12.7%), from €67,218 to €58,707
of which Leasing and similar rights: -€7,176
- Cash +€8,002
up €8,002 (+33.8%), from €23,709 to €31,711
mainly Depreciation (+€14,648) and Net result for the year (+€11,490)
- Receivables within one year +€2,051
up €2,051 (+34.7%), from €5,912 to €7,963
of which Other amounts receivable: +€1,730
- Reserves +€10,631
up €10,631 (+204.7%), from €5,194 to €15,825
- Tax, wage and social debts -€8,065
down €8,065 (-63.2%), from €12,764 to €4,699
of which Remuneration and social security: -€6,502
- Debts after one year -€5,941
down €5,941 (-22.2%), from €26,750 to €20,809
- Other debts +€4,095
up €4,095 (+9.0%), from €45,357 to €49,452
- Gross operating margin +€50,239
up €50,239 (+82.6%), from €60,804 to €111,043
- Staff costs +€32,605
up €32,605 (+65.8%), from €49,531 to €82,136
- Depreciation +€10,862
up €10,862 (+286.9%), from €3,786 to €14,648
- Financial charges +€1,279
up €1,279 (+667.5%), from €192 to €1,470
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 | €104,444 | €105,382 | +€938 | +0.9% |
| Fixed assets | 21/28 | €69,585 | €60,824 | -€8,761 | -12.6% |
| Intangible fixed assets | 21 | €2,367 | €2,117 | -€250 | -10.6% |
| Tangible fixed assets | 22/27 | €67,218 | €58,707 | -€8,511 | -12.7% |
| Plant, machinery and equipment | 23 | €6,414 | €9,080 | +€2,665 | +41.6% |
| Furniture and vehicles | 24 | €24,944 | €20,944 | -€4,000 | -16.0% |
| Leasing and similar rights | 25 | €35,859 | €28,683 | -€7,176 | -20.0% |
| Current assets | 29/58 | €34,859 | €44,557 | +€9,699 | +27.8% |
| Amounts receivable within one year | 40/41 | €5,912 | €7,963 | +€2,051 | +34.7% |
| Trade receivables | 40 | €1,664 | €1,986 | +€322 | +19.3% |
| Other amounts receivable | 41 | €4,248 | €5,977 | +€1,730 | +40.7% |
| Cash at bank and in hand | 54/58 | €23,709 | €31,711 | +€8,002 | +33.8% |
| Deferred charges and accrued income | 490/1 | €5,238 | €4,884 | -€355 | -6.8% |
| Total equity and liabilities | 10/49 | €104,444 | €105,382 | +€938 | +0.9% |
| Equity | 10/15 | €10,194 | €20,825 | +€10,631 | +104.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,194 | €15,825 | +€10,631 | +204.7% |
| Distributable reserves | 133 | €5,194 | €15,825 | +€10,631 | +204.7% |
| Amounts payable | 17/49 | €94,250 | €84,557 | -€9,693 | -10.3% |
| Amounts payable after more than one year | 17 | €26,750 | €20,809 | -€5,941 | -22.2% |
| Financial debts | 170/4 | €26,750 | €20,809 | -€5,941 | -22.2% |
| Amounts payable within one year | 42/48 | €65,651 | €61,299 | -€4,353 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €5,668 | €5,941 | +€273 | +4.8% |
| Trade debts | 44 | €1,862 | €1,206 | -€656 | -35.2% |
| Suppliers | 440/4 | €1,862 | €1,206 | -€656 | -35.2% |
| Taxes, remuneration and social security | 45 | €12,764 | €4,699 | -€8,065 | -63.2% |
| Taxes | 450/3 | €1,564 | - | -€1,564 | |
| Remuneration and social security | 454/9 | €11,201 | €4,699 | -€6,502 | -58.0% |
| Other amounts payable | 47/48 | €45,357 | €49,452 | +€4,095 | +9.0% |
| Accrued charges and deferred income | 492/3 | €1,848 | €2,449 | +€601 | +32.5% |
| Remuneration, social security and pensions | 62 | €49,531 | €82,136 | +€32,605 | +65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,786 | €14,648 | +€10,862 | +286.9% |
| Other operating charges | 640/8 | €140 | €497 | +€357 | +253.9% |
| Gross operating margin | 9900 | €60,804 | €111,043 | +€50,239 | +82.6% |
| Operating profit (loss) | 9901 | €7,346 | €13,762 | +€6,416 | +87.3% |
| Financial income | 75/76B | €340 | €261 | -€79 | -23.3% |
| Recurring financial income | 75 | €340 | €261 | -€79 | -23.3% |
| Financial charges | 65/66B | €192 | €1,470 | +€1,279 | +667.5% |
| Recurring financial charges | 65 | €192 | €1,470 | +€1,279 | +667.5% |
| Profit (loss) for the period before taxes | 9903 | €7,495 | €12,553 | +€5,057 | +67.5% |
| Income taxes | 67/77 | €1,501 | €1,063 | -€438 | -29.2% |
| Profit (loss) for the period | 9904 | €5,994 | €11,490 | +€5,495 | +91.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,994 | €11,490 | +€5,495 | +91.7% |
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 4 October 2026 via checked.be.