G&A: 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.
G&A
Largest movements
- Cash -€17,938
down €17,938 (-98.2%), from €18,268 to €329
mainly Deferred charges and accrued income (-€16,633) and Trade debts (-€7,929)
- Deferred charges and accrued income +€16,633
up €16,633 (+3165.8%), from €525 to €17,159
- Tangible fixed assets -€6,220
down €6,220 (-23.0%), from €27,062 to €20,842
of which Furniture and vehicles: -€6,631
- Receivables within one year -€2,648
down €2,648 (-2.8%), from €92,993 to €90,345
- Trade debts -€7,929
down €7,929 (-86.1%), from €9,204 to €1,275
- Debts after one year -€5,847
down €5,847 (-25.2%), from €23,196 to €17,349
- Profit (loss) carried forward +€1,933
up €1,933 (+2.8%), from €69,104 to €71,038
- Purchases and services -€130,196
down €130,196 (-31.5%), from €413,967 to €283,771
- Turnover -€116,981
down €116,981 (-26.7%), from €438,083 to €321,102
- Gross operating margin +€13,216
up €13,216 (+54.8%), from €24,116 to €37,332
- Staff costs +€11,625
new in 2025: €11,625
- Taxes +€7,864
up €7,864 (+179.7%), from €4,377 to €12,240
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 | €138,848 | €128,675 | -€10,173 | -7.3% |
| Fixed assets | 21/28 | €27,062 | €20,842 | -€6,220 | -23.0% |
| Tangible fixed assets | 22/27 | €27,062 | €20,842 | -€6,220 | -23.0% |
| Plant, machinery and equipment | 23 | €539 | €950 | +€411 | +76.3% |
| Furniture and vehicles | 24 | €26,523 | €19,892 | -€6,631 | -25.0% |
| Current assets | 29/58 | €111,786 | €107,833 | -€3,953 | -3.5% |
| Amounts receivable within one year | 40/41 | €92,993 | €90,345 | -€2,648 | -2.8% |
| Other amounts receivable | 41 | €92,993 | €90,345 | -€2,648 | -2.8% |
| Cash at bank and in hand | 54/58 | €18,268 | €329 | -€17,938 | -98.2% |
| Deferred charges and accrued income | 490/1 | €525 | €17,159 | +€16,633 | +3165.8% |
| Total equity and liabilities | 10/49 | €138,848 | €128,675 | -€10,173 | -7.3% |
| Equity | 10/15 | €96,654 | €98,588 | +€1,933 | +2.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €27,050 | €27,050 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,050 | €18,050 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,050 | €18,050 | = | 0.0% |
| Distributable reserves | 133 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,104 | €71,038 | +€1,933 | +2.8% |
| Amounts payable | 17/49 | €42,194 | €30,087 | -€12,106 | -28.7% |
| Amounts payable after more than one year | 17 | €23,196 | €17,349 | -€5,847 | -25.2% |
| Financial debts | 170/4 | €23,196 | €17,349 | -€5,847 | -25.2% |
| Amounts payable within one year | 42/48 | €18,998 | €12,738 | -€6,259 | -32.9% |
| Current portion of amounts payable after more than one year | 42 | €5,417 | €5,847 | +€431 | +8.0% |
| Trade debts | 44 | €9,204 | €1,275 | -€7,929 | -86.1% |
| Suppliers | 440/4 | €9,204 | €1,275 | -€7,929 | -86.1% |
| Taxes, remuneration and social security | 45 | €4,377 | €5,616 | +€1,239 | +28.3% |
| Taxes | 450/3 | €4,377 | €5,616 | +€1,239 | +28.3% |
| Turnover | 70 | €438,083 | €321,102 | -€116,981 | -26.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €413,967 | €283,771 | -€130,196 | -31.5% |
| Remuneration, social security and pensions | 62 | - | €11,625 | +€11,625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,055 | €7,240 | +€4,186 | +137.0% |
| Other operating charges | 640/8 | €5,635 | €2,071 | -€3,564 | -63.2% |
| Gross operating margin | 9900 | €24,116 | €37,332 | +€13,216 | +54.8% |
| Operating profit (loss) | 9901 | €15,426 | €16,395 | +€969 | +6.3% |
| Financial charges | 65/66B | €2,032 | €2,222 | +€190 | +9.3% |
| Recurring financial charges | 65 | €2,032 | €2,222 | +€190 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €13,394 | €14,174 | +€779 | +5.8% |
| Income taxes | 67/77 | €4,377 | €12,240 | +€7,864 | +179.7% |
| Profit (loss) for the period | 9904 | €9,018 | €1,933 | -€7,085 | -78.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,018 | €1,933 | -€7,085 | -78.6% |
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.