GFTRAVAUX: 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.
GFTRAVAUX
Largest movements
- Tangible fixed assets -€90,515
down €90,515 (-52.7%), from €171,838 to €81,323
of which Land and buildings: -€171,838
- Receivables within one year +€39,023
new in 2023: €39,023
- Cash -€2,408
down €2,408 (-56.0%), from €4,301 to €1,893
- Other debts -€86,177
down €86,177 (-51.8%), from €166,306 to €80,129
- Tax, wage and social debts +€21,827
up €21,827 (+640%), from €3,412 to €25,239
of which Taxes: +€15,195
- Debts after one year +€16,391
new in 2023: €16,391
- Trade debts -€5,571
down €5,571 (-8.2%), from €68,215 to €62,644
- Gross operating margin +€50,270
up €50,270 (+4,249%), from €1,183 to €51,453
- Staff costs +€28,354
new in 2023: €28,354
- Depreciation +€15,245
up €15,245 (+544%), from €2,804 to €18,049
- Financial charges +€3,908
up €3,908 (+2,183%), from €179 to €4,087
From the 2021 result to the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €237,439 | €183,539 | -€53,900 | -22.7% |
| Fixed assets | 21/28 | €233,138 | €142,623 | -€90,515 | -38.8% |
| Tangible fixed assets | 22/27 | €171,838 | €81,323 | -€90,515 | -52.7% |
| Land and buildings | 22 | €171,838 | €0 | -€171,838 | -100% |
| Plant, machinery and equipment | 23 | - | €58,299 | +€58,299 | |
| Furniture and vehicles | 24 | - | €23,024 | +€23,024 | |
| Financial fixed assets | 28 | €61,300 | €61,300 | = | 0.0% |
| Current assets | 29/58 | €4,301 | €40,916 | +€36,615 | +851% |
| Amounts receivable within one year | 40/41 | - | €39,023 | +€39,023 | |
| Trade receivables | 40 | - | €39,023 | +€39,023 | |
| Cash at bank and in hand | 54/58 | €4,301 | €1,893 | -€2,408 | -56.0% |
| Total equity and liabilities | 10/49 | €237,439 | €183,539 | -€53,900 | -22.7% |
| Equity | 10/15 | -€1,994 | -€864 | +€1,130 | +56.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | - | €6,200 | +€6,200 | |
| Issued capital | 100 | - | €6,200 | +€6,200 | |
| Profit (loss) carried forward | 14 | -€8,194 | -€7,064 | +€1,130 | +13.8% |
| Amounts payable | 17/49 | €239,433 | €184,403 | -€55,030 | -23.0% |
| Amounts payable after more than one year | 17 | - | €16,391 | +€16,391 | |
| Financial debts | 170/4 | - | €16,391 | +€16,391 | |
| Amounts payable within one year | 42/48 | €239,433 | €168,012 | -€71,421 | -29.8% |
| Trade debts | 44 | €68,215 | €62,644 | -€5,571 | -8.2% |
| Suppliers | 440/4 | €68,215 | €62,644 | -€5,571 | -8.2% |
| Advances received on contracts in progress | 46 | €1,500 | - | -€1,500 | |
| Taxes, remuneration and social security | 45 | €3,412 | €25,239 | +€21,827 | +640% |
| Taxes | 450/3 | €3,412 | €18,607 | +€15,195 | +445% |
| Remuneration and social security | 454/9 | - | €6,632 | +€6,632 | |
| Other amounts payable | 47/48 | €166,306 | €80,129 | -€86,177 | -51.8% |
| Non-recurring operating income | 76A | - | €14,441 | +€14,441 | |
| Remuneration, social security and pensions | 62 | - | €28,354 | +€28,354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,804 | €18,049 | +€15,245 | +544% |
| Other operating charges | 640/8 | €757 | €833 | +€76 | +10.0% |
| Gross operating margin | 9900 | €1,183 | €51,453 | +€50,270 | +4,249% |
| Operating profit (loss) | 9901 | -€2,378 | €4,217 | +€6,595 | |
| Financial charges | 65/66B | €179 | €4,087 | +€3,908 | +2,183% |
| Recurring financial charges | 65 | €179 | €4,087 | +€3,908 | +2,183% |
| Profit (loss) for the period before taxes | 9903 | -€2,557 | €130 | +€2,687 | |
| Profit (loss) for the period | 9904 | -€2,557 | €130 | +€2,687 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,557 | €130 | +€2,687 |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.