GUV 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.
GUV Construct
Largest movements
- Stocks and contracts -€2.0m
down €2.0m (-24.6%), from €8.1m to €6.1m
- Deferred charges and accrued income +€991,596
up €991,596 (+381.8%), from €259,733 to €1.3m
- Cash +€393,553
up €393,553 (+51.8%), from €759,609 to €1.2m
mainly Stocks and contracts (+€2.0m) and Advances received (+€1.9m)
- Receivables within one year +€236,697
up €236,697 (+719.3%), from €32,904 to €269,601
of which Trade receivables: +€259,601
- Short-term financial debts -€2.1m
no longer reported in 2025 (was €2.1m)
- Advances received +€1.9m
up €1.9m (+50.3%), from €3.8m to €5.7m
- Other debts -€1.3m
down €1.3m (-53.2%), from €2.4m to €1.1m
- Accrued charges and deferred income +€1.2m
up €1.2m (+3664.9%), from €32,041 to €1.2m
- Trade debts -€208,091
down €208,091 (-25.6%), from €813,297 to €605,206
- Gross operating margin +€198,547
up €198,547, from -€30,061 to €168,486
- Taxes +€13,317
new in 2025: €13,317
- Financial charges -€4,207
down €4,207 (-92.3%), from €4,558 to €350
of which Non-recurring financial charges: -€4,274
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 | €9,109,310 | €8,749,628 | -€359,682 | -3.9% |
| Current assets | 29/58 | €9,109,310 | €8,749,628 | -€359,682 | -3.9% |
| Stocks and contracts in progress | 3 | €8,057,064 | €6,075,536 | -€2.0m | -24.6% |
| Stocks | 30/36 | €8,057,064 | €6,075,536 | -€2.0m | -24.6% |
| Amounts receivable within one year | 40/41 | €32,904 | €269,601 | +€236,697 | +719.3% |
| Trade receivables | 40 | - | €259,601 | +€259,601 | |
| Other amounts receivable | 41 | €32,904 | €10,000 | -€22,904 | -69.6% |
| Cash at bank and in hand | 54/58 | €759,609 | €1,153,162 | +€393,553 | +51.8% |
| Deferred charges and accrued income | 490/1 | €259,733 | €1,251,329 | +€991,596 | +381.8% |
| Total equity and liabilities | 10/49 | €9,109,310 | €8,749,628 | -€359,682 | -3.9% |
| Equity | 10/15 | -€55,798 | €96,019 | +€151,816 | |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,798 | €36,019 | +€151,816 | |
| Amounts payable | 17/49 | €9,165,108 | €8,653,609 | -€511,499 | -5.6% |
| Amounts payable within one year | 42/48 | €9,133,067 | €7,447,309 | -€1.7m | -18.5% |
| Financial debts | 43 | €2,119,441 | - | -€2.1m | |
| Credit institutions | 430/8 | €2,119,441 | - | -€2.1m | |
| Trade debts | 44 | €813,297 | €605,206 | -€208,091 | -25.6% |
| Suppliers | 440/4 | €813,297 | €605,206 | -€208,091 | -25.6% |
| Advances received on contracts in progress | 46 | €3,793,213 | €5,701,670 | +€1.9m | +50.3% |
| Taxes, remuneration and social security | 45 | - | €13,317 | +€13,317 | |
| Taxes | 450/3 | - | €13,317 | +€13,317 | |
| Other amounts payable | 47/48 | €2,407,116 | €1,127,116 | -€1.3m | -53.2% |
| Accrued charges and deferred income | 492/3 | €32,041 | €1,206,301 | +€1.2m | +3664.9% |
| Other operating charges | 640/8 | €3,836 | €3,003 | -€833 | -21.7% |
| Gross operating margin | 9900 | -€30,061 | €168,486 | +€198,547 | |
| Operating profit (loss) | 9901 | -€33,897 | €165,484 | +€199,381 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €4,558 | €350 | -€4,207 | -92.3% |
| Recurring financial charges | 65 | €150 | €216 | +€66 | +44.1% |
| Non-recurring financial charges | 66B | €4,408 | €134 | -€4,274 | -97.0% |
| Profit (loss) for the period before taxes | 9903 | -€38,453 | €165,133 | +€203,586 | |
| Income taxes | 67/77 | - | €13,317 | +€13,317 | |
| Profit (loss) for the period | 9904 | -€38,453 | €151,816 | +€190,269 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,453 | €151,816 | +€190,269 |
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 8 October 2026 via checked.be.