GLF CONSTRUCT: 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.
GLF CONSTRUCT
Largest movements
- Receivables within one year +€64,451
up €64,451 (+32.7%), from €197,154 to €261,605
of which Other amounts receivable: +€56,919
- Stocks and contracts +€20,000
new in 2024: €20,000
- Tangible fixed assets -€6,974
down €6,974 (-63.9%), from €10,922 to €3,948
of which Furniture and vehicles: -€6,539
- Trade debts +€53,289
up €53,289 (+86.3%), from €61,730 to €115,018
- Tax, wage and social debts +€52,566
up €52,566 (+860.4%), from €6,109 to €58,676
of which Taxes: +€51,534
- Accrued charges and deferred income -€30,000
no longer reported in 2024 (was €30,000)
- Turnover -€24,676
down €24,676 (-7.7%), from €319,754 to €295,078
- Purchases and services -€14,959
down €14,959 (-5.2%), from €288,220 to €273,260
- Gross operating margin -€9,717
down €9,717 (-30.8%), from €31,534 to €21,818
- Taxes +€6,836
new in 2024: €6,836
- Staff costs +€4,570
up €4,570 (+360.3%), from €1,268 to €5,839
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.
Cash bridge derived
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 | €225,645 | €303,343 | +€77,698 | +34.4% |
| Fixed assets | 21/28 | €10,922 | €4,830 | -€6,091 | -55.8% |
| Tangible fixed assets | 22/27 | €10,922 | €3,948 | -€6,974 | -63.9% |
| Plant, machinery and equipment | 23 | €1,840 | €1,405 | -€435 | -23.6% |
| Furniture and vehicles | 24 | €9,082 | €2,543 | -€6,539 | -72.0% |
| Financial fixed assets | 28 | - | €883 | +€883 | |
| Current assets | 29/58 | €214,723 | €298,513 | +€83,790 | +39.0% |
| Stocks and contracts in progress | 3 | - | €20,000 | +€20,000 | |
| Stocks | 30/36 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €197,154 | €261,605 | +€64,451 | +32.7% |
| Trade receivables | 40 | €178,637 | €186,170 | +€7,532 | +4.2% |
| Other amounts receivable | 41 | €18,517 | €75,436 | +€56,919 | +307.4% |
| Cash at bank and in hand | 54/58 | €17,569 | €16,907 | -€662 | -3.8% |
| Total equity and liabilities | 10/49 | €225,645 | €303,343 | +€77,698 | +34.4% |
| Equity | 10/15 | €127,806 | €129,649 | +€1,843 | +1.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €3,221 | €3,221 | = | 0.0% |
| Distributable reserves | 133 | €3,221 | €3,221 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,584 | €26,427 | +€1,843 | +7.5% |
| Amounts payable | 17/49 | €97,839 | €173,694 | +€75,855 | +77.5% |
| Amounts payable within one year | 42/48 | €67,839 | €173,694 | +€105,855 | +156.0% |
| Trade debts | 44 | €61,730 | €115,018 | +€53,289 | +86.3% |
| Suppliers | 440/4 | €61,730 | €115,018 | +€53,289 | +86.3% |
| Taxes, remuneration and social security | 45 | €6,109 | €58,676 | +€52,566 | +860.4% |
| Taxes | 450/3 | €6,109 | €57,644 | +€51,534 | +843.5% |
| Remuneration and social security | 454/9 | - | €1,032 | +€1,032 | |
| Accrued charges and deferred income | 492/3 | €30,000 | - | -€30,000 | |
| Turnover | 70 | €319,754 | €295,078 | -€24,676 | -7.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €288,220 | €273,260 | -€14,959 | -5.2% |
| Remuneration, social security and pensions | 62 | €1,268 | €5,839 | +€4,570 | +360.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,331 | €6,974 | +€2,643 | +61.0% |
| Other operating charges | 640/8 | €1,339 | €81 | -€1,258 | -93.9% |
| Gross operating margin | 9900 | €31,534 | €21,818 | -€9,717 | -30.8% |
| Operating profit (loss) | 9901 | €24,596 | €8,924 | -€15,672 | -63.7% |
| Financial income | 75/76B | €41 | €0 | -€41 | -99.8% |
| Recurring financial income | 75 | €41 | €0 | -€41 | -99.8% |
| Financial charges | 65/66B | €52 | €245 | +€192 | +367.6% |
| Recurring financial charges | 65 | €52 | €245 | +€192 | +367.6% |
| Profit (loss) for the period before taxes | 9903 | €24,584 | €8,679 | -€15,905 | -64.7% |
| Income taxes | 67/77 | - | €6,836 | +€6,836 | |
| Profit (loss) for the period | 9904 | €24,584 | €1,843 | -€22,741 | -92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,584 | €1,843 | -€22,741 | -92.5% |
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 12 October 2026 via checked.be.