GR 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.
GR Construct
Largest movements
- Receivables within one year +€10,491
up €10,491 (+266%), from €3,947 to €14,438
of which Trade receivables: +€11,253
- Tangible fixed assets -€8,643
down €8,643 (-16.1%), from €53,601 to €44,957
of which Leasing and similar rights: -€12,320
- Stocks and contracts -€1,823
down €1,823 (-23.3%), from €7,823 to €6,000
- Cash +€1,624
up €1,624 (+17.7%), from €9,158 to €10,782
mainly Depreciation (+€25,881) and Net result for the year (+€21,436)
- Deferred charges and accrued income -€1,518
down €1,518 (-55.0%), from €2,760 to €1,242
- Profit (loss) carried forward +€11,274
no longer reported in 2025 (was -€11,274)
- Short-term financial debts -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
- Reserves +€2,916
up €2,916 (+8.4%), from €34,716 to €37,632
- Trade debts -€2,164
down €2,164 (-55.2%), from €3,920 to €1,756
- Tax, wage and social debts -€1,951
down €1,951 (-68.8%), from €2,836 to €885
- Gross operating margin +€45,282
up €45,282 (+456%), from €9,920 to €55,202
- Depreciation +€4,865
up €4,865 (+23.1%), from €21,016 to €25,881
- Taxes +€3,617
up €3,617 (+1,349%), from €268 to €3,885
- Financial charges -€1,675
down €1,675 (-39.5%), from €4,235 to €2,560
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 | €77,288 | €77,419 | +€131 | +0.2% |
| Fixed assets | 21/28 | €53,601 | €44,957 | -€8,643 | -16.1% |
| Tangible fixed assets | 22/27 | €53,601 | €44,957 | -€8,643 | -16.1% |
| Plant, machinery and equipment | 23 | €8,047 | €6,495 | -€1,552 | -19.3% |
| Furniture and vehicles | 24 | €20,915 | €26,143 | +€5,228 | +25.0% |
| Leasing and similar rights | 25 | €24,639 | €12,320 | -€12,320 | -50.0% |
| Current assets | 29/58 | €23,687 | €32,462 | +€8,774 | +37.0% |
| Stocks and contracts in progress | 3 | €7,823 | €6,000 | -€1,823 | -23.3% |
| Contracts in progress | 37 | €7,823 | €6,000 | -€1,823 | -23.3% |
| Amounts receivable within one year | 40/41 | €3,947 | €14,438 | +€10,491 | +266% |
| Trade receivables | 40 | €640 | €11,893 | +€11,253 | +1,758% |
| Other amounts receivable | 41 | €3,307 | €2,545 | -€761 | -23.0% |
| Cash at bank and in hand | 54/58 | €9,158 | €10,782 | +€1,624 | +17.7% |
| Deferred charges and accrued income | 490/1 | €2,760 | €1,242 | -€1,518 | -55.0% |
| Total equity and liabilities | 10/49 | €77,288 | €77,419 | +€131 | +0.2% |
| Equity | 10/15 | €31,442 | €45,632 | +€14,190 | +45.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €34,716 | €37,632 | +€2,916 | +8.4% |
| Distributable reserves | 133 | €34,716 | €37,632 | +€2,916 | +8.4% |
| Profit (loss) carried forward | 14 | -€11,274 | - | +€11,274 | |
| Amounts payable | 17/49 | €45,846 | €31,787 | -€14,058 | -30.7% |
| Amounts payable after more than one year | 17 | €555 | €538 | -€16 | -3.0% |
| Financial debts | 170/4 | €555 | €538 | -€16 | -3.0% |
| Amounts payable within one year | 42/48 | €44,516 | €31,052 | -€13,464 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €6,496 | €6,897 | +€401 | +6.2% |
| Financial debts | 43 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Credit institutions | 430/8 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Trade debts | 44 | €3,920 | €1,756 | -€2,164 | -55.2% |
| Suppliers | 440/4 | €3,920 | €1,756 | -€2,164 | -55.2% |
| Taxes, remuneration and social security | 45 | €2,836 | €885 | -€1,951 | -68.8% |
| Taxes | 450/3 | €2,836 | €885 | -€1,951 | -68.8% |
| Other amounts payable | 47/48 | €1,263 | €1,513 | +€250 | +19.8% |
| Accrued charges and deferred income | 492/3 | €775 | €197 | -€578 | -74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,016 | €25,881 | +€4,865 | +23.1% |
| Other operating charges | 640/8 | €1,398 | €1,442 | +€44 | +3.1% |
| Gross operating margin | 9900 | €9,920 | €55,202 | +€45,282 | +456% |
| Operating profit (loss) | 9901 | -€12,494 | €27,880 | +€40,374 | |
| Financial income | 75/76B | €1 | €1 | +€0 | +24.1% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +24.1% |
| Financial charges | 65/66B | €4,235 | €2,560 | -€1,675 | -39.5% |
| Recurring financial charges | 65 | €4,235 | €2,560 | -€1,675 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | -€16,728 | €25,321 | +€42,049 | |
| Income taxes | 67/77 | €268 | €3,885 | +€3,617 | +1,349% |
| Profit (loss) for the period | 9904 | -€16,996 | €21,436 | +€38,432 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,996 | €21,436 | +€38,432 |
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 25 October 2026 via checked.be.