GWP 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.
GWP Projects
Largest movements
- Receivables within one year +€879,160
up €879,160 (+8791.6%), from €10,000 to €889,160
of which Trade receivables: +€875,127
- Stocks and contracts -€630,464
no longer reported in 2025 (was €630,464)
- Cash -€59,203
down €59,203 (-97.3%), from €60,853 to €1,650
mainly Receivables within one year (-€879,160) and Smaller working-capital items (-€1,241)
- Short-term financial debts +€158,500
up €158,500 (+54.7%), from €290,000 to €448,500
- Profit (loss) carried forward +€26,005
up €26,005 (+70.2%), from -€37,041 to -€11,036
- Gross operating margin +€64,926
up €64,926, from -€11,186 to €53,741
- Financial charges +€1,261
up €1,261 (+4.8%), from €26,257 to €27,518
- Financial income -€612
no longer reported in 2025 (was €612)
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 | €701,317 | €890,811 | +€189,493 | +27.0% |
| Current assets | 29/58 | €701,317 | €890,811 | +€189,493 | +27.0% |
| Stocks and contracts in progress | 3 | €630,464 | - | -€630,464 | |
| Stocks | 30/36 | €630,464 | - | -€630,464 | |
| Amounts receivable within one year | 40/41 | €10,000 | €889,160 | +€879,160 | +8791.6% |
| Trade receivables | 40 | €10,000 | €885,127 | +€875,127 | +8751.3% |
| Other amounts receivable | 41 | - | €4,034 | +€4,034 | |
| Cash at bank and in hand | 54/58 | €60,853 | €1,650 | -€59,203 | -97.3% |
| Total equity and liabilities | 10/49 | €701,317 | €890,811 | +€189,493 | +27.0% |
| Equity | 10/15 | €194,074 | €220,079 | +€26,005 | +13.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €171,115 | €171,115 | = | 0.0% |
| Distributable reserves | 133 | €171,115 | €171,115 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,041 | -€11,036 | +€26,005 | +70.2% |
| Amounts payable | 17/49 | €507,244 | €670,732 | +€163,488 | +32.2% |
| Amounts payable within one year | 42/48 | €498,075 | €661,935 | +€163,861 | +32.9% |
| Financial debts | 43 | €290,000 | €448,500 | +€158,500 | +54.7% |
| Credit institutions | 430/8 | €290,000 | €448,500 | +€158,500 | +54.7% |
| Trade debts | 44 | €31,611 | €31,454 | -€157 | -0.5% |
| Suppliers | 440/4 | €31,611 | €31,454 | -€157 | -0.5% |
| Taxes, remuneration and social security | 45 | €712 | - | -€712 | |
| Taxes | 450/3 | €712 | - | -€712 | |
| Other amounts payable | 47/48 | €175,752 | €181,981 | +€6,229 | +3.5% |
| Accrued charges and deferred income | 492/3 | €9,169 | €8,797 | -€372 | -4.1% |
| Other operating charges | 640/8 | €212 | €218 | +€6 | +2.8% |
| Gross operating margin | 9900 | -€11,186 | €53,741 | +€64,926 | |
| Operating profit (loss) | 9901 | -€11,397 | €53,523 | +€64,920 | |
| Financial income | 75/76B | €612 | - | -€612 | |
| Recurring financial income | 75 | €612 | - | -€612 | |
| Financial charges | 65/66B | €26,257 | €27,518 | +€1,261 | +4.8% |
| Recurring financial charges | 65 | €26,257 | €27,518 | +€1,261 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,041 | €26,005 | +€63,046 | |
| Profit (loss) for the period | 9904 | -€37,041 | €26,005 | +€63,046 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,041 | €26,005 | +€63,046 |
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 11 October 2026 via checked.be.