GK-Construct: 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.
GK-Construct
Largest movements
- Stocks and contracts +€161,343
up €161,343 (+64,000%), from €252 to €161,595
of which Contracts in progress: +€161,300
- Cash -€20,250
down €20,250 (-64.5%), from €31,403 to €11,154
mainly Stocks and contracts (-€161,343) and Investment in fixed assets (net) (-€27,040)
- Tangible fixed assets -€19,426
down €19,426 (-17.0%), from €113,949 to €94,523
of which Furniture and vehicles: -€27,995
- Receivables within one year -€7,989
down €7,989 (-32.8%), from €24,359 to €16,371
of which Other amounts receivable: -€9,423
- Other debts +€65,212
up €65,212 (+80.0%), from €81,494 to €146,706
- Debts after one year +€55,355
up €55,355 (+326%), from €16,965 to €72,319
- Trade debts -€7,157
down €7,157 (-86.7%), from €8,251 to €1,094
- Gross operating margin +€69,860
up €69,860, from -€18,690 to €51,170
- Financial charges +€1,425
up €1,425 (+102%), from €1,390 to €2,815
- Other operating charges +€764
up €764 (+49.1%), from €1,554 to €2,318
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.
Derived cash bridge
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 | €171,964 | €285,254 | +€113,290 | +65.9% |
| Fixed assets | 21/28 | €113,949 | €94,523 | -€19,426 | -17.0% |
| Tangible fixed assets | 22/27 | €113,949 | €94,523 | -€19,426 | -17.0% |
| Land and buildings | 22 | €1,663 | €1,294 | -€370 | -22.2% |
| Plant, machinery and equipment | 23 | €41,665 | €50,604 | +€8,939 | +21.5% |
| Furniture and vehicles | 24 | €70,621 | €42,626 | -€27,995 | -39.6% |
| Current assets | 29/58 | €58,015 | €190,731 | +€132,716 | +229% |
| Stocks and contracts in progress | 3 | €252 | €161,595 | +€161,343 | +64,000% |
| Stocks | 30/36 | €252 | €295 | +€43 | +17.1% |
| Contracts in progress | 37 | - | €161,300 | +€161,300 | |
| Amounts receivable within one year | 40/41 | €24,359 | €16,371 | -€7,989 | -32.8% |
| Trade receivables | 40 | €12,228 | €13,663 | +€1,435 | +11.7% |
| Other amounts receivable | 41 | €12,131 | €2,708 | -€9,423 | -77.7% |
| Cash at bank and in hand | 54/58 | €31,403 | €11,154 | -€20,250 | -64.5% |
| Deferred charges and accrued income | 490/1 | €2,000 | €1,611 | -€389 | -19.4% |
| Total equity and liabilities | 10/49 | €171,964 | €285,254 | +€113,290 | +65.9% |
| Equity | 10/15 | €53,065 | €52,490 | -€575 | -1.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,065 | €49,490 | -€575 | -1.1% |
| Amounts payable | 17/49 | €118,899 | €232,764 | +€113,865 | +95.8% |
| Amounts payable after more than one year | 17 | €16,965 | €72,319 | +€55,355 | +326% |
| Financial debts | 170/4 | €16,965 | €72,319 | +€55,355 | +326% |
| Amounts payable within one year | 42/48 | €101,934 | €160,445 | +€58,511 | +57.4% |
| Current portion of amounts payable after more than one year | 42 | €12,189 | €12,645 | +€456 | +3.7% |
| Trade debts | 44 | €8,251 | €1,094 | -€7,157 | -86.7% |
| Suppliers | 440/4 | €8,251 | €1,094 | -€7,157 | -86.7% |
| Other amounts payable | 47/48 | €81,494 | €146,706 | +€65,212 | +80.0% |
| Non-recurring operating income | 76A | - | €9,015 | +€9,015 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,974 | €46,466 | +€491 | +1.1% |
| Other operating charges | 640/8 | €1,554 | €2,318 | +€764 | +49.1% |
| Non-recurring operating charges | 66A | - | €375 | +€375 | |
| Gross operating margin | 9900 | -€18,690 | €51,170 | +€69,860 | |
| Operating profit (loss) | 9901 | -€66,219 | €2,011 | +€68,230 | |
| Financial income | 75/76B | €117 | - | -€117 | |
| Recurring financial income | 75 | €117 | - | -€117 | |
| Financial charges | 65/66B | €1,390 | €2,815 | +€1,425 | +102% |
| Recurring financial charges | 65 | €1,390 | €2,815 | +€1,425 | +102% |
| Profit (loss) for the period before taxes | 9903 | -€67,492 | -€803 | +€66,689 | +98.8% |
| Income taxes | 67/77 | -€386 | -€228 | +€158 | +40.9% |
| Profit (loss) for the period | 9904 | -€67,106 | -€575 | +€66,531 | +99.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,106 | -€575 | +€66,531 | +99.1% |
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 31 October 2026 via checked.be.