Goveia 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.
Goveia Construct
Largest movements
- Receivables within one year +€37,199
up €37,199 (+29.1%), from €127,882 to €165,080
of which Trade receivables: +€34,492
- Cash -€14,825
down €14,825 (-57.0%), from €26,011 to €11,186
mainly Receivables within one year (-€37,199) and Trade debts (-€17,575)
- Tangible fixed assets -€11,657
down €11,657 (-31.1%), from €37,497 to €25,840
of which Furniture and vehicles: -€7,450
- Tax, wage and social debts +€19,022
up €19,022 (+63.1%), from €30,144 to €49,166
of which Remuneration and social security: +€17,857
- Trade debts -€17,575
down €17,575 (-33.2%), from €52,976 to €35,401
- Profit (loss) carried forward +€17,128
up €17,128 (+18.6%), from €91,980 to €109,108
- Debts after one year -€10,731
no longer reported in 2025 (was €10,731)
- Current portion of long-term debt +€4,222
up €4,222 (+64.9%), from €6,509 to €10,731
- Gross operating margin +€37,581
up €37,581 (+25.1%), from €149,993 to €187,574
- Staff costs +€32,678
up €32,678 (+33.0%), from €99,125 to €131,803
- Financial charges +€5,921
up €5,921 (+97.4%), from €6,079 to €11,999
- Other operating charges -€2,135
down €2,135 (-25.2%), from €8,475 to €6,341
- Depreciation +€1,908
up €1,908 (+19.6%), from €9,749 to €11,657
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.
Cash bridge derived
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 | €193,340 | €205,406 | +€12,066 | +6.2% |
| Fixed assets | 21/28 | €39,448 | €29,140 | -€10,308 | -26.1% |
| Tangible fixed assets | 22/27 | €37,497 | €25,840 | -€11,657 | -31.1% |
| Furniture and vehicles | 24 | €12,254 | €4,804 | -€7,450 | -60.8% |
| Assets under construction and advance payments | 27 | €25,243 | €21,036 | -€4,207 | -16.7% |
| Financial fixed assets | 28 | €1,950 | €3,300 | +€1,350 | +69.2% |
| Current assets | 29/58 | €153,893 | €176,266 | +€22,373 | +14.5% |
| Amounts receivable within one year | 40/41 | €127,882 | €165,080 | +€37,199 | +29.1% |
| Trade receivables | 40 | €117,919 | €152,411 | +€34,492 | +29.3% |
| Other amounts receivable | 41 | €9,962 | €12,669 | +€2,707 | +27.2% |
| Cash at bank and in hand | 54/58 | €26,011 | €11,186 | -€14,825 | -57.0% |
| Total equity and liabilities | 10/49 | €193,340 | €205,406 | +€12,066 | +6.2% |
| Equity | 10/15 | €92,980 | €110,108 | +€17,128 | +18.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,980 | €109,108 | +€17,128 | +18.6% |
| Amounts payable | 17/49 | €100,360 | €95,298 | -€5,062 | -5.0% |
| Amounts payable after more than one year | 17 | €10,731 | - | -€10,731 | |
| Financial debts | 170/4 | €10,731 | - | -€10,731 | |
| Amounts payable within one year | 42/48 | €89,629 | €95,298 | +€5,669 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €6,509 | €10,731 | +€4,222 | +64.9% |
| Trade debts | 44 | €52,976 | €35,401 | -€17,575 | -33.2% |
| Suppliers | 440/4 | €52,976 | €35,401 | -€17,575 | -33.2% |
| Taxes, remuneration and social security | 45 | €30,144 | €49,166 | +€19,022 | +63.1% |
| Taxes | 450/3 | €14,525 | €15,690 | +€1,166 | +8.0% |
| Remuneration and social security | 454/9 | €15,620 | €33,476 | +€17,857 | +114.3% |
| Non-recurring operating income | 76A | - | €89 | +€89 | |
| Remuneration, social security and pensions | 62 | €99,125 | €131,803 | +€32,678 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,749 | €11,657 | +€1,908 | +19.6% |
| Other operating charges | 640/8 | €8,475 | €6,341 | -€2,135 | -25.2% |
| Non-recurring operating charges | 66A | - | €1,950 | +€1,950 | |
| Gross operating margin | 9900 | €149,993 | €187,574 | +€37,581 | +25.1% |
| Operating profit (loss) | 9901 | €32,643 | €35,823 | +€3,180 | +9.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,079 | €11,999 | +€5,921 | +97.4% |
| Recurring financial charges | 65 | €6,079 | €11,999 | +€5,921 | +97.4% |
| Profit (loss) for the period before taxes | 9903 | €26,564 | €23,824 | -€2,740 | -10.3% |
| Income taxes | 67/77 | €6,953 | €6,696 | -€257 | -3.7% |
| Profit (loss) for the period | 9904 | €19,611 | €17,128 | -€2,483 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,611 | €17,128 | -€2,483 | -12.7% |
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 9 October 2026 via checked.be.