Gudi Construct: 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.
Gudi Construct
Largest movements
- Receivables within one year -€272,130
down €272,130 (-47.1%), from €578,288 to €306,158
of which Other amounts receivable: -€140,588
- Tangible fixed assets -€109,625
down €109,625 (-25.4%), from €431,599 to €321,974
of which Other tangible fixed assets: -€103,915
- Cash -€99,313
down €99,313 (-71.7%), from €138,546 to €39,233
mainly Net result for the year (-€1.2m) and Tax, wage and social debts (-€113,824)
- Stocks and contracts +€19,205
up €19,205 (+5.8%), from €331,623 to €350,827
of which Stocks: +€107,864
- Profit (loss) carried forward -€1.2m
new in 2025: -€1.2m
- Other debts +€547,413
new in 2025: €547,413
- Trade debts +€284,064
up €284,064 (+215.5%), from €131,841 to €415,904
- Tax, wage and social debts -€113,824
down €113,824 (-59.0%), from €192,896 to €79,072
of which Taxes: -€132,223
- Debts after one year -€48,089
down €48,089 (-28.1%), from €170,870 to €122,782
- Gross operating margin -€956,775
down €956,775, from €843,312 to -€113,463
- Staff costs -€46,029
down €46,029 (-5.3%), from €873,091 to €827,063
- Depreciation -€30,632
down €30,632 (-30.0%), from €102,185 to €71,553
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 | €1,520,570 | €1,049,273 | -€471,297 | -31.0% |
| Fixed assets | 21/28 | €451,151 | €341,526 | -€109,625 | -24.3% |
| Tangible fixed assets | 22/27 | €431,599 | €321,974 | -€109,625 | -25.4% |
| Plant, machinery and equipment | 23 | €186,689 | €189,955 | +€3,266 | +1.7% |
| Furniture and vehicles | 24 | €4,744 | €9,381 | +€4,637 | +97.7% |
| Leasing and similar rights | 25 | €42,719 | €29,106 | -€13,613 | -31.9% |
| Other tangible fixed assets | 26 | €197,447 | €93,532 | -€103,915 | -52.6% |
| Financial fixed assets | 28 | €19,551 | €19,551 | = | 0.0% |
| Current assets | 29/58 | €1,069,419 | €707,747 | -€361,672 | -33.8% |
| Stocks and contracts in progress | 3 | €331,623 | €350,827 | +€19,205 | +5.8% |
| Stocks | 30/36 | €196,379 | €304,242 | +€107,864 | +54.9% |
| Contracts in progress | 37 | €135,244 | €46,585 | -€88,659 | -65.6% |
| Amounts receivable within one year | 40/41 | €578,288 | €306,158 | -€272,130 | -47.1% |
| Trade receivables | 40 | €413,078 | €281,535 | -€131,543 | -31.8% |
| Other amounts receivable | 41 | €165,210 | €24,623 | -€140,588 | -85.1% |
| Cash at bank and in hand | 54/58 | €138,546 | €39,233 | -€99,313 | -71.7% |
| Deferred charges and accrued income | 490/1 | €20,963 | €11,530 | -€9,433 | -45.0% |
| Total equity and liabilities | 10/49 | €1,520,570 | €1,049,273 | -€471,297 | -31.0% |
| Equity | 10/15 | €178,430 | -€985,587 | -€1.2m | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €148,430 | €148,430 | = | 0.0% |
| Distributable reserves | 133 | €148,430 | €148,430 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,164,017 | -€1.2m | |
| Amounts payable | 17/49 | €1,342,140 | €2,034,860 | +€692,720 | +51.6% |
| Amounts payable after more than one year | 17 | €170,870 | €122,782 | -€48,089 | -28.1% |
| Financial debts | 170/4 | €170,870 | €122,782 | -€48,089 | -28.1% |
| Amounts payable within one year | 42/48 | €1,171,269 | €1,911,912 | +€740,642 | +63.2% |
| Current portion of amounts payable after more than one year | 42 | €46,533 | €69,523 | +€22,990 | +49.4% |
| Financial debts | 43 | €800,000 | €800,000 | = | 0.0% |
| Credit institutions | 430/8 | €800,000 | €800,000 | = | 0.0% |
| Trade debts | 44 | €131,841 | €415,904 | +€284,064 | +215.5% |
| Suppliers | 440/4 | €131,841 | €415,904 | +€284,064 | +215.5% |
| Taxes, remuneration and social security | 45 | €192,896 | €79,072 | -€113,824 | -59.0% |
| Taxes | 450/3 | €141,816 | €9,593 | -€132,223 | -93.2% |
| Remuneration and social security | 454/9 | €51,080 | €69,479 | +€18,399 | +36.0% |
| Other amounts payable | 47/48 | - | €547,413 | +€547,413 | |
| Accrued charges and deferred income | 492/3 | - | €167 | +€167 | |
| Non-recurring operating income | 76A | - | €10,721 | +€10,721 | |
| Remuneration, social security and pensions | 62 | €873,091 | €827,063 | -€46,029 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,185 | €71,553 | -€30,632 | -30.0% |
| Other operating charges | 640/8 | €15,024 | €9,957 | -€5,067 | -33.7% |
| Non-recurring operating charges | 66A | - | €88,819 | +€88,819 | |
| Gross operating margin | 9900 | €843,312 | -€113,463 | -€956,775 | |
| Operating profit (loss) | 9901 | -€146,988 | -€1,110,855 | -€963,867 | -655.7% |
| Financial income | 75/76B | €3,614 | €165 | -€3,449 | -95.4% |
| Recurring financial income | 75 | €3,614 | €165 | -€3,449 | -95.4% |
| Financial charges | 65/66B | €55,449 | €53,022 | -€2,428 | -4.4% |
| Recurring financial charges | 65 | €55,449 | €53,022 | -€2,428 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | -€198,824 | -€1,163,712 | -€964,888 | -485.3% |
| Income taxes | 67/77 | €213 | €306 | +€93 | +43.6% |
| Profit (loss) for the period | 9904 | -€199,037 | -€1,164,017 | -€964,981 | -484.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€199,037 | -€1,164,017 | -€964,981 | -484.8% |
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 3 October 2026 via checked.be.