GHELAMCO 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.
GHELAMCO PROJECTS
Largest movements
- Receivables within one year +€243,243
up €243,243 (+103%), from €236,519 to €479,762
of which Trade receivables: +€239,020
- Cash -€19,786
down €19,786 (-74.5%), from €26,558 to €6,773
mainly Receivables within one year (-€243,243) and Investment in fixed assets (net) (-€5,573)
- Financial fixed assets +€5,573
new in 2024: €5,573
- Trade debts +€137,472
up €137,472 (+614%), from €22,391 to €159,863
- Other debts +€52,175
up €52,175 (+27.6%), from €189,104 to €241,280
- Profit (loss) carried forward +€31,217
up €31,217, from -€11,977 to €19,239
- Tax, wage and social debts +€8,266
up €8,266 (+3,359%), from €246 to €8,512
- Gross operating margin +€35,404
up €35,404 (+323%), from €10,955 to €46,359
- Taxes +€8,512
new in 2024: €8,512
- Other operating charges +€4,727
up €4,727 (+653%), from €724 to €5,452
- Financial charges -€1,169
down €1,169 (-49.8%), from €2,348 to €1,179
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €263,323 | €492,108 | +€228,784 | +86.9% |
| Fixed assets | 21/28 | - | €5,573 | +€5,573 | |
| Financial fixed assets | 28 | - | €5,573 | +€5,573 | |
| Current assets | 29/58 | €263,323 | €486,534 | +€223,211 | +84.8% |
| Amounts receivable after more than one year | 29 | €246 | - | -€246 | |
| Other amounts receivable | 291 | €246 | - | -€246 | |
| Amounts receivable within one year | 40/41 | €236,519 | €479,762 | +€243,243 | +103% |
| Trade receivables | 40 | €225,665 | €464,685 | +€239,020 | +106% |
| Other amounts receivable | 41 | €10,854 | €15,077 | +€4,223 | +38.9% |
| Cash at bank and in hand | 54/58 | €26,558 | €6,773 | -€19,786 | -74.5% |
| Total equity and liabilities | 10/49 | €263,323 | €492,108 | +€228,784 | +86.9% |
| Equity | 10/15 | €50,523 | €81,739 | +€31,217 | +61.8% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,977 | €19,239 | +€31,217 | |
| Amounts payable | 17/49 | €212,801 | €410,369 | +€197,568 | +92.8% |
| Amounts payable after more than one year | 17 | - | €714 | +€714 | |
| Other amounts payable | 178/9 | - | €714 | +€714 | |
| Amounts payable within one year | 42/48 | €211,741 | €409,654 | +€197,914 | +93.5% |
| Trade debts | 44 | €22,391 | €159,863 | +€137,472 | +614% |
| Suppliers | 440/4 | €22,391 | €159,863 | +€137,472 | +614% |
| Taxes, remuneration and social security | 45 | €246 | €8,512 | +€8,266 | +3,359% |
| Taxes | 450/3 | €246 | €8,512 | +€8,266 | +3,359% |
| Other amounts payable | 47/48 | €189,104 | €241,280 | +€52,175 | +27.6% |
| Accrued charges and deferred income | 492/3 | €1,060 | - | -€1,060 | |
| Other operating charges | 640/8 | €724 | €5,452 | +€4,727 | +653% |
| Gross operating margin | 9900 | €10,955 | €46,359 | +€35,404 | +323% |
| Operating profit (loss) | 9901 | €10,231 | €40,908 | +€30,677 | +300% |
| Financial charges | 65/66B | €2,348 | €1,179 | -€1,169 | -49.8% |
| Recurring financial charges | 65 | €2,348 | €1,179 | -€1,169 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €7,883 | €39,729 | +€31,846 | +404% |
| Income taxes | 67/77 | - | €8,512 | +€8,512 | |
| Profit (loss) for the period | 9904 | €7,883 | €31,217 | +€23,333 | +296% |
| Profit (loss) for the period to be appropriated | 9905 | €7,883 | €31,217 | +€23,333 | +296% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.