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.
GO Construct
Largest movements
- Cash -€100,921
down €100,921 (-99.4%), from €101,535 to €614
mainly Net result for the year (-€136,888) and Receivables within one year (-€48,190)
- Tangible fixed assets -€52,091
down €52,091 (-6.5%), from €801,193 to €749,101
of which Plant, machinery and equipment: -€28,518
- Receivables within one year +€48,190
up €48,190 (+19.3%), from €250,023 to €298,213
of which Trade receivables: +€62,502
- Stocks and contracts -€20,300
no longer reported in 2024 (was €20,300)
- Reserves -€136,888
down €136,888 (-39.2%), from €349,079 to €212,191
- Short-term financial debts +€39,031
up €39,031 (+26.0%), from €150,000 to €189,031
- Trade debts -€28,113
down €28,113 (-8.7%), from €321,683 to €293,570
- Accrued charges and deferred income +€20,842
new in 2024: €20,842
- Debts after one year -€18,783
down €18,783 (-6.1%), from €310,130 to €291,347
- Gross operating margin -€104,342
down €104,342 (-34.1%), from €306,058 to €201,717
- Staff costs +€76,179
up €76,179 (+51.9%), from €146,801 to €222,979
- Taxes -€10,797
no longer reported in 2024 (was €10,797)
- Financial charges +€7,487
up €7,487 (+38.1%), from €19,655 to €27,142
- Depreciation -€3,952
down €3,952 (-5.0%), from €78,700 to €74,748
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,178,486 | €1,051,681 | -€126,805 | -10.8% |
| Fixed assets | 21/28 | €801,693 | €749,601 | -€52,091 | -6.5% |
| Tangible fixed assets | 22/27 | €801,193 | €749,101 | -€52,091 | -6.5% |
| Land and buildings | 22 | €627,852 | €609,634 | -€18,218 | -2.9% |
| Plant, machinery and equipment | 23 | €144,290 | €115,772 | -€28,518 | -19.8% |
| Furniture and vehicles | 24 | €29,050 | €23,695 | -€5,355 | -18.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €376,793 | €302,079 | -€74,713 | -19.8% |
| Stocks and contracts in progress | 3 | €20,300 | - | -€20,300 | |
| Stocks | 30/36 | €20,300 | - | -€20,300 | |
| Amounts receivable within one year | 40/41 | €250,023 | €298,213 | +€48,190 | +19.3% |
| Trade receivables | 40 | €197,054 | €259,556 | +€62,502 | +31.7% |
| Other amounts receivable | 41 | €52,969 | €38,658 | -€14,312 | -27.0% |
| Cash at bank and in hand | 54/58 | €101,535 | €614 | -€100,921 | -99.4% |
| Deferred charges and accrued income | 490/1 | €4,935 | €3,252 | -€1,683 | -34.1% |
| Total equity and liabilities | 10/49 | €1,178,486 | €1,051,681 | -€126,805 | -10.8% |
| Equity | 10/15 | €355,279 | €230,791 | -€124,488 | -35.0% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €349,079 | €212,191 | -€136,888 | -39.2% |
| Distributable reserves | 133 | €349,079 | €212,191 | -€136,888 | -39.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €823,207 | €820,890 | -€2,317 | -0.3% |
| Amounts payable after more than one year | 17 | €310,130 | €291,347 | -€18,783 | -6.1% |
| Financial debts | 170/4 | €310,130 | €291,347 | -€18,783 | -6.1% |
| Amounts payable within one year | 42/48 | €513,077 | €508,701 | -€4,376 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €25,672 | €20,449 | -€5,223 | -20.3% |
| Financial debts | 43 | €150,000 | €189,031 | +€39,031 | +26.0% |
| Credit institutions | 430/8 | €150,000 | €189,031 | +€39,031 | +26.0% |
| Trade debts | 44 | €321,683 | €293,570 | -€28,113 | -8.7% |
| Suppliers | 440/4 | €321,683 | €293,570 | -€28,113 | -8.7% |
| Taxes, remuneration and social security | 45 | €8,047 | - | -€8,047 | |
| Remuneration and social security | 454/9 | €8,047 | - | -€8,047 | |
| Other amounts payable | 47/48 | €7,675 | €5,651 | -€2,024 | -26.4% |
| Accrued charges and deferred income | 492/3 | - | €20,842 | +€20,842 | |
| Non-recurring operating income | 76A | €5,346 | €15,599 | +€10,254 | +191.8% |
| Remuneration, social security and pensions | 62 | €146,801 | €222,979 | +€76,179 | +51.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,700 | €74,748 | -€3,952 | -5.0% |
| Other operating charges | 640/8 | €7,304 | €6,142 | -€1,162 | -15.9% |
| Non-recurring operating charges | 66A | - | €8,036 | +€8,036 | |
| Gross operating margin | 9900 | €306,058 | €201,717 | -€104,342 | -34.1% |
| Operating profit (loss) | 9901 | €73,254 | -€110,188 | -€183,442 | |
| Financial income | 75/76B | €39 | €442 | +€403 | +1033.9% |
| Recurring financial income | 75 | €39 | €442 | +€403 | +1033.9% |
| Financial charges | 65/66B | €19,655 | €27,142 | +€7,487 | +38.1% |
| Recurring financial charges | 65 | €19,655 | €27,142 | +€7,487 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | €53,638 | -€136,888 | -€190,526 | |
| Income taxes | 67/77 | €10,797 | - | -€10,797 | |
| Profit (loss) for the period | 9904 | €42,841 | -€136,888 | -€179,729 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,841 | -€136,888 | -€179,729 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 September 2026 via checked.be.