GOVAERT CONSTRUCTS: 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.
GOVAERT CONSTRUCTS
Largest movements
- Receivables within one year -€20,640
down €20,640 (-84.1%), from €24,544 to €3,904
of which Trade receivables: -€19,109
- Tangible fixed assets -€17,087
down €17,087 (-42.9%), from €39,831 to €22,744
of which Furniture and vehicles: -€14,426
- Cash +€13,789
up €13,789 (+72.1%), from €19,126 to €32,915
mainly Receivables within one year (+€20,640) and Depreciation (+€18,533)
- Stocks and contracts +€6,940
up €6,940 (+1,928%), from €360 to €7,300
of which Contracts in progress: +€7,300
- Trade debts -€10,931
down €10,931 (-22.7%), from €48,183 to €37,252
- Other debts -€9,013
down €9,013 (-94.2%), from €9,566 to €553
- Tax, wage and social debts +€4,047
up €4,047 (+93.7%), from €4,321 to €8,369
- Current portion of long-term debt -€3,973
no longer reported in 2025 (was €3,973)
- Accrued charges and deferred income +€2,774
up €2,774 (+84.1%), from €3,300 to €6,074
- Gross operating margin -€21,635
down €21,635 (-50.7%), from €42,662 to €21,027
- Taxes -€3,099
down €3,099 (-71.7%), from €4,321 to €1,222
- Depreciation +€2,371
up €2,371 (+14.7%), from €16,161 to €18,533
- Other operating charges -€614
down €614 (-34.5%), from €1,780 to €1,166
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 | €84,285 | €67,217 | -€17,068 | -20.3% |
| Fixed assets | 21/28 | €39,831 | €22,744 | -€17,087 | -42.9% |
| Tangible fixed assets | 22/27 | €39,831 | €22,744 | -€17,087 | -42.9% |
| Plant, machinery and equipment | 23 | €7,955 | €5,293 | -€2,661 | -33.5% |
| Furniture and vehicles | 24 | €31,876 | €17,451 | -€14,426 | -45.3% |
| Current assets | 29/58 | €44,454 | €44,473 | +€19 | 0.0% |
| Stocks and contracts in progress | 3 | €360 | €7,300 | +€6,940 | +1,928% |
| Stocks | 30/36 | €360 | - | -€360 | |
| Contracts in progress | 37 | - | €7,300 | +€7,300 | |
| Amounts receivable within one year | 40/41 | €24,544 | €3,904 | -€20,640 | -84.1% |
| Trade receivables | 40 | €23,013 | €3,904 | -€19,109 | -83.0% |
| Other amounts receivable | 41 | €1,531 | - | -€1,531 | |
| Cash at bank and in hand | 54/58 | €19,126 | €32,915 | +€13,789 | +72.1% |
| Deferred charges and accrued income | 490/1 | €424 | €354 | -€69 | -16.4% |
| Total equity and liabilities | 10/49 | €84,285 | €67,217 | -€17,068 | -20.3% |
| Equity | 10/15 | €14,942 | €14,969 | +€27 | +0.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,942 | €11,969 | +€27 | +0.2% |
| Distributable reserves | 133 | €11,942 | €11,969 | +€27 | +0.2% |
| Amounts payable | 17/49 | €69,343 | €52,248 | -€17,096 | -24.7% |
| Amounts payable within one year | 42/48 | €66,043 | €46,174 | -€19,870 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €3,973 | - | -€3,973 | |
| Trade debts | 44 | €48,183 | €37,252 | -€10,931 | -22.7% |
| Suppliers | 440/4 | €48,183 | €37,252 | -€10,931 | -22.7% |
| Taxes, remuneration and social security | 45 | €4,321 | €8,369 | +€4,047 | +93.7% |
| Taxes | 450/3 | €4,321 | €8,369 | +€4,047 | +93.7% |
| Other amounts payable | 47/48 | €9,566 | €553 | -€9,013 | -94.2% |
| Accrued charges and deferred income | 492/3 | €3,300 | €6,074 | +€2,774 | +84.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,161 | €18,533 | +€2,371 | +14.7% |
| Other operating charges | 640/8 | €1,780 | €1,166 | -€614 | -34.5% |
| Gross operating margin | 9900 | €42,662 | €21,027 | -€21,635 | -50.7% |
| Operating profit (loss) | 9901 | €24,721 | €1,329 | -€23,392 | -94.6% |
| Financial income | 75/76B | €468 | €745 | +€278 | +59.3% |
| Recurring financial income | 75 | €468 | €745 | +€278 | +59.3% |
| Financial charges | 65/66B | €1,067 | €825 | -€242 | -22.7% |
| Recurring financial charges | 65 | €1,067 | €825 | -€242 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €24,122 | €1,250 | -€22,872 | -94.8% |
| Income taxes | 67/77 | €4,321 | €1,222 | -€3,099 | -71.7% |
| Profit (loss) for the period | 9904 | €19,801 | €27 | -€19,774 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,801 | €27 | -€19,774 | -99.9% |
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 15 October 2026 via checked.be.