GTB Constructies: 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.
GTB Constructies
Largest movements
- Cash +€34,116
up €34,116 (+20.9%), from €162,861 to €196,977
mainly Net result for the year (+€47,989) and Depreciation (+€20,321)
- Tangible fixed assets -€19,432
down €19,432 (-25.3%), from €76,837 to €57,405
of which Leasing and similar rights: -€12,954
- Receivables within one year -€13,257
down €13,257 (-67.9%), from €19,539 to €6,282
of which Other amounts receivable: -€8,789
- Stocks and contracts -€2,861
down €2,861 (-76.8%), from €3,726 to €864
- Reserves +€22,731
up €22,731 (+17.7%), from €128,578 to €151,308
of which Distributable reserves: +€24,591
- Debts after one year -€16,676
down €16,676 (-44.9%), from €37,138 to €20,463
- Other debts -€15,649
down €15,649 (-31.5%), from €49,609 to €33,960
- Tax, wage and social debts +€7,508
up €7,508 (+218.3%), from €3,439 to €10,947
- Gross operating margin +€11,573
up €11,573 (+15.0%), from €77,366 to €88,939
- Taxes -€7,495
down €7,495 (-28.1%), from €26,634 to €19,139
- Depreciation +€4,825
up €4,825 (+31.1%), from €15,497 to €20,321
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 | €265,127 | €264,894 | -€233 | -0.1% |
| Fixed assets | 21/28 | €76,837 | €57,405 | -€19,432 | -25.3% |
| Tangible fixed assets | 22/27 | €76,837 | €57,405 | -€19,432 | -25.3% |
| Land and buildings | 22 | €11,933 | €9,452 | -€2,481 | -20.8% |
| Plant, machinery and equipment | 23 | €5,405 | €3,148 | -€2,258 | -41.8% |
| Furniture and vehicles | 24 | €5,959 | €4,219 | -€1,740 | -29.2% |
| Leasing and similar rights | 25 | €53,540 | €40,586 | -€12,954 | -24.2% |
| Current assets | 29/58 | €188,290 | €207,490 | +€19,200 | +10.2% |
| Stocks and contracts in progress | 3 | €3,726 | €864 | -€2,861 | -76.8% |
| Stocks | 30/36 | €3,726 | €864 | -€2,861 | -76.8% |
| Amounts receivable within one year | 40/41 | €19,539 | €6,282 | -€13,257 | -67.9% |
| Trade receivables | 40 | €8,266 | €3,798 | -€4,468 | -54.1% |
| Other amounts receivable | 41 | €11,273 | €2,484 | -€8,789 | -78.0% |
| Cash at bank and in hand | 54/58 | €162,861 | €196,977 | +€34,116 | +20.9% |
| Deferred charges and accrued income | 490/1 | €2,164 | €3,366 | +€1,202 | +55.6% |
| Total equity and liabilities | 10/49 | €265,127 | €264,894 | -€233 | -0.1% |
| Equity | 10/15 | €151,488 | €174,218 | +€22,731 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,578 | €151,308 | +€22,731 | +17.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €126,718 | €151,308 | +€24,591 | +19.4% |
| Profit (loss) carried forward | 14 | €4,310 | €4,310 | = | 0.0% |
| Amounts payable | 17/49 | €113,639 | €90,676 | -€22,963 | -20.2% |
| Amounts payable after more than one year | 17 | €37,138 | €20,463 | -€16,676 | -44.9% |
| Financial debts | 170/4 | €37,138 | €20,463 | -€16,676 | -44.9% |
| Amounts payable within one year | 42/48 | €76,501 | €70,213 | -€6,288 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €16,501 | €16,676 | +€175 | +1.1% |
| Trade debts | 44 | €6,952 | €8,631 | +€1,679 | +24.2% |
| Suppliers | 440/4 | €6,952 | €8,631 | +€1,679 | +24.2% |
| Taxes, remuneration and social security | 45 | €3,439 | €10,947 | +€7,508 | +218.3% |
| Taxes | 450/3 | €3,439 | €10,947 | +€7,508 | +218.3% |
| Other amounts payable | 47/48 | €49,609 | €33,960 | -€15,649 | -31.5% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,497 | €20,321 | +€4,825 | +31.1% |
| Other operating charges | 640/8 | €1,589 | €1,438 | -€151 | -9.5% |
| Gross operating margin | 9900 | €77,366 | €88,939 | +€11,573 | +15.0% |
| Operating profit (loss) | 9901 | €60,281 | €67,180 | +€6,899 | +11.4% |
| Financial income | 75/76B | €1,039 | €861 | -€178 | -17.1% |
| Recurring financial income | 75 | €1,039 | €861 | -€178 | -17.1% |
| Financial charges | 65/66B | €1,251 | €912 | -€339 | -27.1% |
| Recurring financial charges | 65 | €1,251 | €912 | -€339 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €60,069 | €67,128 | +€7,060 | +11.8% |
| Income taxes | 67/77 | €26,634 | €19,139 | -€7,495 | -28.1% |
| Profit (loss) for the period | 9904 | €33,435 | €47,989 | +€14,555 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,435 | €47,989 | +€14,555 | +43.5% |
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 4 October 2026 via checked.be.