GFC CONSTRUCT: what changed
GFC CONSTRUCT
Largest movements
- Receivables within one year -€24,021
down €24,021 (-69.6%), from €34,492 to €10,471
of which Trade receivables: -€25,802
- Deferred charges and accrued income +€5,789
up €5,789 (+185%), from €3,127 to €8,916
- Tangible fixed assets +€5,117
up €5,117 (+2,211%), from €231 to €5,348
of which Plant, machinery and equipment: +€4,360
- Cash +€3,212
up €3,212 (+13.4%), from €23,974 to €27,186
mainly Receivables within one year (+€24,021) and Net result for the year (+€3,362)
- Trade debts -€8,339
down €8,339 (-41.1%), from €20,303 to €11,964
of which Suppliers: -€14,696
- Other debts -€4,331
no longer reported in 2025 (was €4,331)
- Profit (loss) carried forward +€3,362
up €3,362 (+12.9%), from €26,036 to €29,398
- Short-term financial debts -€1,316
no longer reported in 2025 (was €1,316)
- Tax, wage and social debts +€721
up €721 (+31.6%), from €2,279 to €3,000
of which Remuneration and social security: +€3,000
- Turnover -€139,101
down €139,101 (-51.2%), from €271,492 to €132,391
- Purchases and services -€132,141
down €132,141 (-51.2%), from €258,139 to €125,998
- Gross operating margin -€6,961
down €6,961 (-52.1%), from €13,354 to €6,393
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 | €62,325 | €52,422 | -€9,904 | -15.9% |
| Fixed assets | 21/28 | €731 | €5,848 | +€5,117 | +700% |
| Tangible fixed assets | 22/27 | €231 | €5,348 | +€5,117 | +2,211% |
| Plant, machinery and equipment | 23 | €231 | €4,592 | +€4,360 | +1,884% |
| Furniture and vehicles | 24 | - | €756 | +€756 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €61,594 | €46,573 | -€15,021 | -24.4% |
| Amounts receivable within one year | 40/41 | €34,492 | €10,471 | -€24,021 | -69.6% |
| Trade receivables | 40 | €32,970 | €7,169 | -€25,802 | -78.3% |
| Other amounts receivable | 41 | €1,522 | €3,303 | +€1,781 | +117% |
| Cash at bank and in hand | 54/58 | €23,974 | €27,186 | +€3,212 | +13.4% |
| Deferred charges and accrued income | 490/1 | €3,127 | €8,916 | +€5,789 | +185% |
| Total equity and liabilities | 10/49 | €62,325 | €52,422 | -€9,904 | -15.9% |
| Equity | 10/15 | €34,096 | €37,458 | +€3,362 | +9.9% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,036 | €29,398 | +€3,362 | +12.9% |
| Amounts payable | 17/49 | €28,229 | €14,964 | -€13,266 | -47.0% |
| Amounts payable within one year | 42/48 | €28,229 | €14,964 | -€13,266 | -47.0% |
| Financial debts | 43 | €1,316 | - | -€1,316 | |
| Credit institutions | 430/8 | €1,316 | - | -€1,316 | |
| Trade debts | 44 | €20,303 | €11,964 | -€8,339 | -41.1% |
| Suppliers | 440/4 | €14,696 | - | -€14,696 | |
| Bills of exchange payable | 441 | €5,607 | €11,964 | +€6,356 | +113% |
| Taxes, remuneration and social security | 45 | €2,279 | €3,000 | +€721 | +31.6% |
| Taxes | 450/3 | €2,279 | - | -€2,279 | |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €4,331 | - | -€4,331 | |
| Turnover | 70 | €271,492 | €132,391 | -€139,101 | -51.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €258,139 | €125,998 | -€132,141 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99 | €1,038 | +€940 | +953% |
| Other operating charges | 640/8 | €1,333 | €839 | -€493 | -37.0% |
| Gross operating margin | 9900 | €13,354 | €6,393 | -€6,961 | -52.1% |
| Operating profit (loss) | 9901 | €11,923 | €4,516 | -€7,407 | -62.1% |
| Financial income | 75/76B | - | €1,060 | +€1,060 | |
| Recurring financial income | 75 | - | €62 | +€62 | |
| Non-recurring financial income | 76B | - | €998 | +€998 | |
| Financial charges | 65/66B | €3,676 | €1,317 | -€2,359 | -64.2% |
| Recurring financial charges | 65 | €526 | €288 | -€239 | -45.3% |
| Non-recurring financial charges | 66B | €3,150 | €1,030 | -€2,120 | -67.3% |
| Profit (loss) for the period before taxes | 9903 | €8,246 | €4,259 | -€3,988 | -48.4% |
| Income taxes | 67/77 | €2,279 | €897 | -€1,382 | -60.7% |
| Profit (loss) for the period | 9904 | €5,967 | €3,362 | -€2,605 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,967 | €3,362 | -€2,605 | -43.7% |
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 5 November 2026 via checked.be.