GRONDWERKEN DECLERCQ: what changed
Two fiscal 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.
GRONDWERKEN DECLERCQ
Largest movements
- Tangible fixed assets +€307,232
up €307,232 (+12.6%), from €2.4m to €2.8m
of which Leasing and similar rights: +€278,014
- Receivables within one year -€243,711
down €243,711 (-32.6%), from €747,398 to €503,687
of which Trade receivables: -€276,925
- Receivables after one year -€105,259
down €105,259 (-22.1%), from €476,617 to €371,358
- Cash -€103,168
down €103,168 (-28.1%), from €367,412 to €264,244
mainly Investment in fixed assets (net) (-€1.1m) and Trade debts (-€199,176)
- Reserves +€311,344
up €311,344 (+24.8%), from €1.3m to €1.6m
of which Distributable reserves: +€188,958
- Trade debts -€199,176
down €199,176 (-29.5%), from €675,192 to €476,016
- Other debts -€84,637
down €84,637 (-72.7%), from €116,371 to €31,734
- Debts after one year -€51,271
down €51,271 (-3.2%), from €1.6m to €1.5m
of which Financial debts: -€110,144
- Gross operating margin +€133,849
up €133,849 (+6.1%), from €2.2m to €2.3m
- Financial charges -€96,743
down €96,743 (-56.4%), from €171,644 to €74,901
of which Non-recurring financial charges: -€76,141
- Depreciation +€56,637
up €56,637 (+7.9%), from €720,886 to €777,523
- Staff costs +€28,897
up €28,897 (+2.8%), from €1.0m to €1.1m
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 | €4,231,843 | €4,133,902 | -€97,941 | -2.3% |
| Fixed assets | 21/28 | €2,516,024 | €2,828,808 | +€312,785 | +12.4% |
| Intangible fixed assets | 21 | €6,809 | €7,362 | +€553 | +8.1% |
| Tangible fixed assets | 22/27 | €2,444,286 | €2,751,518 | +€307,232 | +12.6% |
| Plant, machinery and equipment | 23 | €861,279 | €880,599 | +€19,320 | +2.2% |
| Furniture and vehicles | 24 | €150,213 | €169,815 | +€19,603 | +13.0% |
| Leasing and similar rights | 25 | €1,219,597 | €1,497,610 | +€278,014 | +22.8% |
| Other tangible fixed assets | 26 | €213,198 | €203,493 | -€9,705 | -4.6% |
| Financial fixed assets | 28 | €64,929 | €69,929 | +€5,000 | +7.7% |
| Current assets | 29/58 | €1,715,819 | €1,305,093 | -€410,726 | -23.9% |
| Amounts receivable after more than one year | 29 | €476,617 | €371,358 | -€105,259 | -22.1% |
| Other amounts receivable | 291 | €476,617 | €371,358 | -€105,259 | -22.1% |
| Stocks and contracts in progress | 3 | €77,710 | €110,591 | +€32,882 | +42.3% |
| Stocks | 30/36 | €4,122 | €33,962 | +€29,840 | +723.9% |
| Contracts in progress | 37 | €73,588 | €76,629 | +€3,042 | +4.1% |
| Amounts receivable within one year | 40/41 | €747,398 | €503,687 | -€243,711 | -32.6% |
| Trade receivables | 40 | €658,306 | €381,381 | -€276,925 | -42.1% |
| Other amounts receivable | 41 | €89,092 | €122,306 | +€33,214 | +37.3% |
| Cash at bank and in hand | 54/58 | €367,412 | €264,244 | -€103,168 | -28.1% |
| Deferred charges and accrued income | 490/1 | €46,682 | €55,213 | +€8,531 | +18.3% |
| Total equity and liabilities | 10/49 | €4,231,843 | €4,133,902 | -€97,941 | -2.3% |
| Equity | 10/15 | €1,284,986 | €1,596,331 | +€311,344 | +24.2% |
| Contributions | 10/11 | €31,337 | €31,337 | = | 0.0% |
| Reserves | 13 | €1,253,649 | €1,564,993 | +€311,344 | +24.8% |
| Tax-exempt reserves | 132 | €461,363 | €583,749 | +€122,386 | +26.5% |
| Distributable reserves | 133 | €792,286 | €981,244 | +€188,958 | +23.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €15,964 | €31,261 | +€15,297 | +95.8% |
| Deferred taxes | 168 | €15,964 | €31,261 | +€15,297 | +95.8% |
| Amounts payable | 17/49 | €2,930,893 | €2,506,310 | -€424,583 | -14.5% |
| Amounts payable after more than one year | 17 | €1,587,101 | €1,535,830 | -€51,271 | -3.2% |
| Financial debts | 170/4 | €1,587,101 | €1,476,958 | -€110,144 | -6.9% |
| Other amounts payable | 178/9 | - | €58,873 | +€58,873 | |
| Amounts payable within one year | 42/48 | €1,337,823 | €968,296 | -€369,527 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €449,614 | €421,253 | -€28,360 | -6.3% |
| Financial debts | 43 | €30,042 | €9,052 | -€20,989 | -69.9% |
| Credit institutions | 430/8 | €30,042 | €9,052 | -€20,989 | -69.9% |
| Trade debts | 44 | €675,192 | €476,016 | -€199,176 | -29.5% |
| Suppliers | 440/4 | €675,192 | €476,016 | -€199,176 | -29.5% |
| Taxes, remuneration and social security | 45 | €66,605 | €30,241 | -€36,365 | -54.6% |
| Taxes | 450/3 | €27,008 | €3,955 | -€23,052 | -85.4% |
| Remuneration and social security | 454/9 | €39,598 | €26,285 | -€13,313 | -33.6% |
| Other amounts payable | 47/48 | €116,371 | €31,734 | -€84,637 | -72.7% |
| Accrued charges and deferred income | 492/3 | €5,969 | €2,184 | -€3,785 | -63.4% |
| Remuneration, social security and pensions | 62 | €1,035,513 | €1,064,410 | +€28,897 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €720,886 | €777,523 | +€56,637 | +7.9% |
| Other operating charges | 640/8 | €25,369 | €39,885 | +€14,515 | +57.2% |
| Gross operating margin | 9900 | €2,188,540 | €2,322,389 | +€133,849 | +6.1% |
| Operating profit (loss) | 9901 | €406,772 | €440,572 | +€33,800 | +8.3% |
| Financial income | 75/76B | €16,857 | €15,166 | -€1,691 | -10.0% |
| Recurring financial income | 75 | €16,857 | €15,166 | -€1,691 | -10.0% |
| Financial charges | 65/66B | €171,644 | €74,901 | -€96,743 | -56.4% |
| Recurring financial charges | 65 | €95,503 | €74,901 | -€20,602 | -21.6% |
| Non-recurring financial charges | 66B | €76,141 | €0 | -€76,141 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €251,985 | €380,837 | +€128,852 | +51.1% |
| Transfer from deferred taxes | 780 | €8,673 | €5,586 | -€3,087 | -35.6% |
| Transfer to deferred taxes | 680 | €18,250 | €20,883 | +€2,633 | +14.4% |
| Income taxes | 67/77 | €58,435 | €54,195 | -€4,240 | -7.3% |
| Profit (loss) for the period | 9904 | €183,972 | €311,344 | +€127,372 | +69.2% |
| Transfer from tax-exempt reserves | 789 | €26,018 | €45,512 | +€19,495 | +74.9% |
| Transfer to tax-exempt reserves | 689 | €160,000 | €167,899 | +€7,899 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,990 | €188,958 | +€138,968 | +278.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.