GGW 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.
GGW Projects
Largest movements
- Cash -€28,890
down €28,890 (-83.9%), from €34,417 to €5,527
mainly Net result for the year (-€38,699) and Receivables within one year (-€24,592)
- Receivables within one year +€24,592
up €24,592 (+67.0%), from €36,689 to €61,281
of which Trade receivables: +€22,234
- Stocks and contracts -€18,216
down €18,216 (-93.9%), from €19,408 to €1,192
- Tangible fixed assets -€15,811
down €15,811 (-31.8%), from €49,776 to €33,964
of which Furniture and vehicles: -€10,325
- Profit (loss) carried forward -€38,699
down €38,699 (-79.5%), from €48,700 to €10,001
- Trade debts +€6,294
up €6,294 (+36.9%), from €17,041 to €23,335
- Debts after one year -€4,778
down €4,778 (-45.8%), from €10,422 to €5,644
- Short-term financial debts -€2,387
down €2,387 (-57.7%), from €4,136 to €1,750
- Other debts +€1,652
up €1,652 (+4.3%), from €38,847 to €40,499
- Gross operating margin -€5,772
down €5,772 (-36.0%), from -€16,036 to -€21,808
- Financial income +€701
up €701 (+1,983%), from €35 to €736
- Other operating charges -€595
down €595 (-55.0%), from €1,083 to €487
- Depreciation +€453
up €453 (+2.9%), from €15,876 to €16,328
- Financial charges -€241
down €241 (-22.9%), from €1,052 to €812
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 | €141,884 | €104,056 | -€37,828 | -26.7% |
| Fixed assets | 21/28 | €49,776 | €33,964 | -€15,811 | -31.8% |
| Tangible fixed assets | 22/27 | €49,776 | €33,964 | -€15,811 | -31.8% |
| Plant, machinery and equipment | 23 | €27,813 | €22,327 | -€5,486 | -19.7% |
| Furniture and vehicles | 24 | €21,963 | €11,637 | -€10,325 | -47.0% |
| Current assets | 29/58 | €92,108 | €70,092 | -€22,017 | -23.9% |
| Stocks and contracts in progress | 3 | €19,408 | €1,192 | -€18,216 | -93.9% |
| Stocks | 30/36 | €19,408 | €1,192 | -€18,216 | -93.9% |
| Amounts receivable within one year | 40/41 | €36,689 | €61,281 | +€24,592 | +67.0% |
| Trade receivables | 40 | €29,333 | €51,567 | +€22,234 | +75.8% |
| Other amounts receivable | 41 | €7,356 | €9,714 | +€2,358 | +32.1% |
| Cash at bank and in hand | 54/58 | €34,417 | €5,527 | -€28,890 | -83.9% |
| Deferred charges and accrued income | 490/1 | €1,594 | €2,092 | +€498 | +31.2% |
| Total equity and liabilities | 10/49 | €141,884 | €104,056 | -€37,828 | -26.7% |
| Equity | 10/15 | €62,960 | €24,261 | -€38,699 | -61.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,700 | €10,001 | -€38,699 | -79.5% |
| Amounts payable | 17/49 | €78,924 | €79,795 | +€871 | +1.1% |
| Amounts payable after more than one year | 17 | €10,422 | €5,644 | -€4,778 | -45.8% |
| Financial debts | 170/4 | €10,422 | €5,644 | -€4,778 | -45.8% |
| Amounts payable within one year | 42/48 | €68,502 | €74,152 | +€5,649 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €2,893 | €3,028 | +€135 | +4.7% |
| Financial debts | 43 | €4,136 | €1,750 | -€2,387 | -57.7% |
| Credit institutions | 430/8 | €4,136 | €1,750 | -€2,387 | -57.7% |
| Trade debts | 44 | €17,041 | €23,335 | +€6,294 | +36.9% |
| Suppliers | 440/4 | €17,041 | €23,335 | +€6,294 | +36.9% |
| Taxes, remuneration and social security | 45 | €5,585 | €5,539 | -€46 | -0.8% |
| Taxes | 450/3 | €5,585 | €5,539 | -€46 | -0.8% |
| Other amounts payable | 47/48 | €38,847 | €40,499 | +€1,652 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,876 | €16,328 | +€453 | +2.9% |
| Other operating charges | 640/8 | €1,083 | €487 | -€595 | -55.0% |
| Gross operating margin | 9900 | -€16,036 | -€21,808 | -€5,772 | -36.0% |
| Operating profit (loss) | 9901 | -€32,994 | -€38,624 | -€5,629 | -17.1% |
| Financial income | 75/76B | €35 | €736 | +€701 | +1,983% |
| Recurring financial income | 75 | €35 | €736 | +€701 | +1,983% |
| Financial charges | 65/66B | €1,052 | €812 | -€241 | -22.9% |
| Recurring financial charges | 65 | €1,052 | €812 | -€241 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | -€34,011 | -€38,699 | -€4,688 | -13.8% |
| Profit (loss) for the period | 9904 | -€34,011 | -€38,699 | -€4,688 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,011 | -€38,699 | -€4,688 | -13.8% |
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 31 October 2026 via checked.be.