GT-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.
GT-CONSTRUCT
Largest movements
- Receivables within one year +€95,441
up €95,441 (+111.3%), from €85,753 to €181,194
of which Other amounts receivable: +€109,832
- Cash -€58,599
down €58,599 (-17.4%), from €335,937 to €277,338
mainly Contributions, distributions and other (-€235,294) and Receivables within one year (-€95,441)
- Tangible fixed assets -€29,263
down €29,263 (-9.5%), from €307,996 to €278,733
of which Plant, machinery and equipment: -€15,794
- Other debts +€243,927
up €243,927 (+438.7%), from €55,606 to €299,533
- Reserves -€194,298
down €194,298 (-56.0%), from €347,178 to €152,880
of which Distributable reserves: -€193,001
- Trade debts -€18,711
down €18,711 (-28.4%), from €65,917 to €47,206
- Debts after one year -€12,268
down €12,268 (-5.2%), from €237,769 to €225,501
- Gross operating margin -€22,447
down €22,447 (-18.4%), from €121,927 to €99,480
- Depreciation -€6,337
down €6,337 (-13.9%), from €45,477 to €39,140
- Taxes -€3,506
down €3,506 (-24.7%), from €14,174 to €10,668
- Financial income -€2,965
down €2,965 (-87.7%), from €3,380 to €414
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 | €747,973 | €762,524 | +€14,551 | +1.9% |
| Fixed assets | 21/28 | €308,096 | €278,833 | -€29,263 | -9.5% |
| Tangible fixed assets | 22/27 | €307,996 | €278,733 | -€29,263 | -9.5% |
| Land and buildings | 22 | €253,434 | €241,448 | -€11,986 | -4.7% |
| Plant, machinery and equipment | 23 | €29,382 | €13,588 | -€15,794 | -53.8% |
| Furniture and vehicles | 24 | €24,038 | €23,131 | -€908 | -3.8% |
| Other tangible fixed assets | 26 | €1,141 | €566 | -€575 | -50.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €439,878 | €483,691 | +€43,814 | +10.0% |
| Stocks and contracts in progress | 3 | €16,233 | €23,269 | +€7,036 | +43.3% |
| Stocks | 30/36 | €8,743 | €3,906 | -€4,837 | -55.3% |
| Contracts in progress | 37 | €7,490 | €19,364 | +€11,873 | +158.5% |
| Amounts receivable within one year | 40/41 | €85,753 | €181,194 | +€95,441 | +111.3% |
| Trade receivables | 40 | €72,552 | €58,160 | -€14,392 | -19.8% |
| Other amounts receivable | 41 | €13,201 | €123,033 | +€109,832 | +832.0% |
| Cash at bank and in hand | 54/58 | €335,937 | €277,338 | -€58,599 | -17.4% |
| Deferred charges and accrued income | 490/1 | €1,955 | €1,891 | -€64 | -3.3% |
| Total equity and liabilities | 10/49 | €747,973 | €762,524 | +€14,551 | +1.9% |
| Equity | 10/15 | €365,778 | €171,480 | -€194,298 | -53.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €347,178 | €152,880 | -€194,298 | -56.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,770 | €12,472 | -€1,297 | -9.4% |
| Distributable reserves | 133 | €331,548 | €138,547 | -€193,001 | -58.2% |
| Provisions and deferred taxes | 16 | €620 | €296 | -€324 | -52.3% |
| Deferred taxes | 168 | €620 | €296 | -€324 | -52.3% |
| Amounts payable | 17/49 | €381,575 | €590,748 | +€209,173 | +54.8% |
| Amounts payable after more than one year | 17 | €237,769 | €225,501 | -€12,268 | -5.2% |
| Financial debts | 170/4 | €237,769 | €225,501 | -€12,268 | -5.2% |
| Amounts payable within one year | 42/48 | €141,189 | €362,889 | +€221,700 | +157.0% |
| Current portion of amounts payable after more than one year | 42 | €19,667 | €12,268 | -€7,399 | -37.6% |
| Trade debts | 44 | €65,917 | €47,206 | -€18,711 | -28.4% |
| Suppliers | 440/4 | €65,917 | €47,206 | -€18,711 | -28.4% |
| Taxes, remuneration and social security | 45 | - | €3,882 | +€3,882 | |
| Taxes | 450/3 | - | €3,882 | +€3,882 | |
| Other amounts payable | 47/48 | €55,606 | €299,533 | +€243,927 | +438.7% |
| Accrued charges and deferred income | 492/3 | €2,617 | €2,358 | -€259 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,477 | €39,140 | -€6,337 | -13.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€310 | - | +€310 | |
| Other operating charges | 640/8 | €3,561 | €3,282 | -€279 | -7.8% |
| Gross operating margin | 9900 | €121,927 | €99,480 | -€22,447 | -18.4% |
| Operating profit (loss) | 9901 | €73,199 | €57,057 | -€16,142 | -22.1% |
| Financial income | 75/76B | €3,380 | €414 | -€2,965 | -87.7% |
| Recurring financial income | 75 | €3,380 | €414 | -€2,965 | -87.7% |
| Financial charges | 65/66B | €6,678 | €6,132 | -€547 | -8.2% |
| Recurring financial charges | 65 | €6,678 | €6,132 | -€547 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €69,900 | €51,340 | -€18,560 | -26.6% |
| Transfer from deferred taxes | 780 | €324 | €324 | -€0 | 0.0% |
| Income taxes | 67/77 | €14,174 | €10,668 | -€3,506 | -24.7% |
| Profit (loss) for the period | 9904 | €56,050 | €40,996 | -€15,054 | -26.9% |
| Transfer from tax-exempt reserves | 789 | €1,297 | €1,297 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,348 | €42,293 | -€15,054 | -26.3% |
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.