GEVAERT PROJECTS: 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.
GEVAERT PROJECTS
Largest movements
- Cash +€15,361
up €15,361 (+737.5%), from €2,083 to €17,444
mainly Net result for the year (+€21,629) and Depreciation (+€14,552)
- Tangible fixed assets -€13,164
down €13,164 (-27.1%), from €48,520 to €35,357
- Receivables within one year -€6,075
down €6,075 (-7.3%), from €82,682 to €76,607
of which Trade receivables: -€6,522
- Deferred charges and accrued income +€2,031
up €2,031 (+132.0%), from €1,539 to €3,570
- Reserves +€21,629
up €21,629 (+39.7%), from €54,493 to €76,122
- Current portion of long-term debt -€9,238
down €9,238 (-59.6%), from €15,510 to €6,273
- Trade debts -€7,154
down €7,154 (-31.7%), from €22,539 to €15,386
- Debts after one year -€6,273
down €6,273 (-28.4%), from €22,122 to €15,849
- Tax, wage and social debts +€4,276
up €4,276 (+22.7%), from €18,839 to €23,116
of which Taxes: +€2,357
- Gross operating margin +€29,120
up €29,120 (+40.1%), from €72,668 to €101,788
- Staff costs +€26,260
up €26,260 (+163.1%), from €16,099 to €42,359
- Other operating charges +€4,330
up €4,330 (+247.1%), from €1,752 to €6,083
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 | €167,394 | €165,882 | -€1,511 | -0.9% |
| Fixed assets | 21/28 | €48,520 | €35,692 | -€12,829 | -26.4% |
| Tangible fixed assets | 22/27 | €48,520 | €35,357 | -€13,164 | -27.1% |
| Plant, machinery and equipment | 23 | €1,362 | €978 | -€384 | -28.2% |
| Furniture and vehicles | 24 | €7,516 | €7,254 | -€262 | -3.5% |
| Leasing and similar rights | 25 | €6,441 | €0 | -€6,441 | -100.0% |
| Other tangible fixed assets | 26 | €33,202 | €27,125 | -€6,077 | -18.3% |
| Financial fixed assets | 28 | - | €335 | +€335 | |
| Current assets | 29/58 | €118,873 | €130,191 | +€11,318 | +9.5% |
| Stocks and contracts in progress | 3 | €32,569 | €32,569 | = | 0.0% |
| Stocks | 30/36 | €32,569 | €32,569 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €82,682 | €76,607 | -€6,075 | -7.3% |
| Trade receivables | 40 | €81,899 | €75,377 | -€6,522 | -8.0% |
| Other amounts receivable | 41 | €783 | €1,231 | +€447 | +57.1% |
| Cash at bank and in hand | 54/58 | €2,083 | €17,444 | +€15,361 | +737.5% |
| Deferred charges and accrued income | 490/1 | €1,539 | €3,570 | +€2,031 | +132.0% |
| Total equity and liabilities | 10/49 | €167,394 | €165,882 | -€1,511 | -0.9% |
| Equity | 10/15 | €57,493 | €79,122 | +€21,629 | +37.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €54,493 | €76,122 | +€21,629 | +39.7% |
| Distributable reserves | 133 | €54,493 | €76,122 | +€21,629 | +39.7% |
| Amounts payable | 17/49 | €109,901 | €86,761 | -€23,140 | -21.1% |
| Amounts payable after more than one year | 17 | €22,122 | €15,849 | -€6,273 | -28.4% |
| Financial debts | 170/4 | €22,122 | €15,849 | -€6,273 | -28.4% |
| Amounts payable within one year | 42/48 | €82,230 | €68,989 | -€13,241 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €15,510 | €6,273 | -€9,238 | -59.6% |
| Financial debts | 43 | €8,028 | €9,691 | +€1,663 | +20.7% |
| Credit institutions | 430/8 | €8,028 | €9,691 | +€1,663 | +20.7% |
| Trade debts | 44 | €22,539 | €15,386 | -€7,154 | -31.7% |
| Suppliers | 440/4 | €22,539 | €15,386 | -€7,154 | -31.7% |
| Taxes, remuneration and social security | 45 | €18,839 | €23,116 | +€4,276 | +22.7% |
| Taxes | 450/3 | €14,885 | €17,242 | +€2,357 | +15.8% |
| Remuneration and social security | 454/9 | €3,955 | €5,874 | +€1,919 | +48.5% |
| Other amounts payable | 47/48 | €17,313 | €14,524 | -€2,789 | -16.1% |
| Accrued charges and deferred income | 492/3 | €5,549 | €1,923 | -€3,626 | -65.4% |
| Remuneration, social security and pensions | 62 | €16,099 | €42,359 | +€26,260 | +163.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,769 | €14,552 | +€783 | +5.7% |
| Other operating charges | 640/8 | €1,752 | €6,083 | +€4,330 | +247.1% |
| Gross operating margin | 9900 | €72,668 | €101,788 | +€29,120 | +40.1% |
| Operating profit (loss) | 9901 | €41,048 | €38,795 | -€2,254 | -5.5% |
| Financial income | 75/76B | €86 | €199 | +€113 | +131.3% |
| Recurring financial income | 75 | €86 | €199 | +€113 | +131.3% |
| Financial charges | 65/66B | €4,067 | €3,404 | -€663 | -16.3% |
| Recurring financial charges | 65 | €4,067 | €3,404 | -€663 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €37,067 | €35,589 | -€1,478 | -4.0% |
| Income taxes | 67/77 | €14,433 | €13,960 | -€473 | -3.3% |
| Profit (loss) for the period | 9904 | €22,634 | €21,629 | -€1,005 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,634 | €21,629 | -€1,005 | -4.4% |
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 12 October 2026 via checked.be.