GT PROJECTS: 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 PROJECTS
Largest movements
- Cash +€28,718
up €28,718 (+35.3%), from €81,312 to €110,030
mainly Net result for the year (+€23,031) and Depreciation (+€11,599)
- Tangible fixed assets -€11,599
down €11,599 (-12.6%), from €91,772 to €80,173
of which Land and buildings: -€9,977
- Receivables within one year -€3,969
down €3,969 (-13.7%), from €29,051 to €25,081
of which Other amounts receivable: -€3,150
- Reserves +€23,031
up €23,031 (+13.0%), from €177,244 to €200,274
- Other debts -€15,429
down €15,429 (-96.9%), from €15,924 to €495
- Tax, wage and social debts +€6,798
up €6,798 (+426%), from €1,597 to €8,395
- Gross operating margin +€3,268
up €3,268 (+7.5%), from €43,465 to €46,732
- Taxes +€1,942
up €1,942 (+21.0%), from €9,253 to €11,195
- Financial charges -€973
down €973 (-49.9%), from €1,948 to €975
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 | €211,052 | €223,624 | +€12,573 | +6.0% |
| Fixed assets | 21/28 | €91,772 | €80,173 | -€11,599 | -12.6% |
| Tangible fixed assets | 22/27 | €91,772 | €80,173 | -€11,599 | -12.6% |
| Land and buildings | 22 | €81,878 | €71,901 | -€9,977 | -12.2% |
| Plant, machinery and equipment | 23 | €9,414 | €8,036 | -€1,378 | -14.6% |
| Furniture and vehicles | 24 | €480 | €236 | -€244 | -50.9% |
| Current assets | 29/58 | €119,280 | €143,451 | +€24,172 | +20.3% |
| Stocks and contracts in progress | 3 | €2,177 | €2,045 | -€132 | -6.0% |
| Stocks | 30/36 | €2,177 | €2,045 | -€132 | -6.0% |
| Amounts receivable within one year | 40/41 | €29,051 | €25,081 | -€3,969 | -13.7% |
| Trade receivables | 40 | €24,319 | €23,500 | -€819 | -3.4% |
| Other amounts receivable | 41 | €4,732 | €1,581 | -€3,150 | -66.6% |
| Cash at bank and in hand | 54/58 | €81,312 | €110,030 | +€28,718 | +35.3% |
| Deferred charges and accrued income | 490/1 | €6,741 | €6,295 | -€446 | -6.6% |
| Total equity and liabilities | 10/49 | €211,052 | €223,624 | +€12,573 | +6.0% |
| Equity | 10/15 | €186,575 | €209,605 | +€23,031 | +12.3% |
| Contributions | 10/11 | €9,331 | €9,331 | = | 0.0% |
| Reserves | 13 | €177,244 | €200,274 | +€23,031 | +13.0% |
| Distributable reserves | 133 | €177,244 | €200,274 | +€23,031 | +13.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,477 | €14,019 | -€10,458 | -42.7% |
| Amounts payable within one year | 42/48 | €19,684 | €9,075 | -€10,609 | -53.9% |
| Trade debts | 44 | €2,163 | €185 | -€1,978 | -91.4% |
| Suppliers | 440/4 | €2,163 | €185 | -€1,978 | -91.4% |
| Taxes, remuneration and social security | 45 | €1,597 | €8,395 | +€6,798 | +426% |
| Taxes | 450/3 | €1,597 | €8,395 | +€6,798 | +426% |
| Other amounts payable | 47/48 | €15,924 | €495 | -€15,429 | -96.9% |
| Accrued charges and deferred income | 492/3 | €4,793 | €4,944 | +€151 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,467 | €11,599 | +€132 | +1.2% |
| Other operating charges | 640/8 | €606 | €290 | -€316 | -52.1% |
| Gross operating margin | 9900 | €43,465 | €46,732 | +€3,268 | +7.5% |
| Operating profit (loss) | 9901 | €31,392 | €34,843 | +€3,452 | +11.0% |
| Financial income | 75/76B | €1 | €358 | +€357 | +36,020% |
| Recurring financial income | 75 | €1 | €358 | +€357 | +36,020% |
| Financial charges | 65/66B | €1,948 | €975 | -€973 | -49.9% |
| Recurring financial charges | 65 | €1,948 | €975 | -€973 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €29,445 | €34,226 | +€4,781 | +16.2% |
| Income taxes | 67/77 | €9,253 | €11,195 | +€1,942 | +21.0% |
| Profit (loss) for the period | 9904 | €20,191 | €23,031 | +€2,839 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,191 | €23,031 | +€2,839 | +14.1% |
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.