G&C: 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.
G&C
Largest movements
- Stocks and contracts -€379,083
no longer reported in 2025 (was €379,083)
- Receivables after one year +€190,000
new in 2025: €190,000
- Receivables within one year +€133,997
up €133,997 (+126%), from €106,661 to €240,658
of which Other amounts receivable: +€153,959
- Cash +€38,385
up €38,385 (+2,275%), from €1,687 to €40,072
mainly Stocks and contracts (+€379,083) and Other debts (+€63,666)
- Debts after one year -€102,017
down €102,017 (-72.7%), from €140,339 to €38,322
of which Other amounts payable: -€75,000
- Other debts +€63,666
up €63,666 (+44.1%), from €144,213 to €207,878
- Profit (loss) carried forward +€22,512
new in 2025: €22,512
- Short-term financial debts -€17,637
down €17,637 (-5.1%), from €343,000 to €325,363
of which Other loans: -€18,000
- Current portion of long-term debt +€13,716
new in 2025: €13,716
- Gross operating margin +€31,944
up €31,944 (+82.8%), from €38,579 to €70,523
- Taxes +€7,081
new in 2025: €7,081
- Financial charges -€7,042
down €7,042 (-28.3%), from €24,874 to €17,833
- Depreciation -€3,250
down €3,250 (-15.3%), from €21,289 to €18,039
- Other operating charges -€1,160
down €1,160 (-45.7%), from €2,541 to €1,381
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 | €645,069 | €627,346 | -€17,723 | -2.7% |
| Fixed assets | 21/28 | €56,311 | €53,984 | -€2,327 | -4.1% |
| Tangible fixed assets | 22/27 | €56,311 | €53,984 | -€2,327 | -4.1% |
| Furniture and vehicles | 24 | €56,311 | €53,984 | -€2,327 | -4.1% |
| Current assets | 29/58 | €588,758 | €573,362 | -€15,396 | -2.6% |
| Amounts receivable after more than one year | 29 | - | €190,000 | +€190,000 | |
| Other amounts receivable | 291 | - | €190,000 | +€190,000 | |
| Stocks and contracts in progress | 3 | €379,083 | - | -€379,083 | |
| Stocks | 30/36 | €379,083 | - | -€379,083 | |
| Amounts receivable within one year | 40/41 | €106,661 | €240,658 | +€133,997 | +126% |
| Trade receivables | 40 | €23,322 | €3,360 | -€19,962 | -85.6% |
| Other amounts receivable | 41 | €83,338 | €237,298 | +€153,959 | +185% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,687 | €40,072 | +€38,385 | +2,275% |
| Deferred charges and accrued income | 490/1 | €1,328 | €2,632 | +€1,305 | +98.3% |
| Total equity and liabilities | 10/49 | €645,069 | €627,346 | -€17,723 | -2.7% |
| Equity | 10/15 | €5,000 | €27,512 | +€22,512 | +450% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Share premium | 1100/10 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €22,512 | +€22,512 | |
| Amounts payable | 17/49 | €640,069 | €599,834 | -€40,235 | -6.3% |
| Amounts payable after more than one year | 17 | €140,339 | €38,322 | -€102,017 | -72.7% |
| Financial debts | 170/4 | €51,128 | €24,112 | -€27,017 | -52.8% |
| Other amounts payable | 178/9 | €89,211 | €14,211 | -€75,000 | -84.1% |
| Amounts payable within one year | 42/48 | €499,730 | €561,512 | +€61,782 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | - | €13,716 | +€13,716 | |
| Financial debts | 43 | €343,000 | €325,363 | -€17,637 | -5.1% |
| Credit institutions | 430/8 | - | €363 | +€363 | |
| Other loans | 439 | €343,000 | €325,000 | -€18,000 | -5.2% |
| Trade debts | 44 | €3,248 | €5,379 | +€2,131 | +65.6% |
| Suppliers | 440/4 | €3,248 | €5,379 | +€2,131 | +65.6% |
| Taxes, remuneration and social security | 45 | €9,270 | €9,176 | -€94 | -1.0% |
| Taxes | 450/3 | €9,270 | €9,176 | -€94 | -1.0% |
| Other amounts payable | 47/48 | €144,213 | €207,878 | +€63,666 | +44.1% |
| Non-recurring operating income | 76A | €1,135 | €5,063 | +€3,928 | +346% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,289 | €18,039 | -€3,250 | -15.3% |
| Other operating charges | 640/8 | €2,541 | €1,381 | -€1,160 | -45.7% |
| Non-recurring operating charges | 66A | - | €3,678 | +€3,678 | |
| Gross operating margin | 9900 | €38,579 | €70,523 | +€31,944 | +82.8% |
| Operating profit (loss) | 9901 | €14,749 | €47,425 | +€32,676 | +222% |
| Financial income | 75/76B | €1 | €0 | -€1 | -99.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -99.0% |
| Financial charges | 65/66B | €24,874 | €17,833 | -€7,042 | -28.3% |
| Recurring financial charges | 65 | €24,874 | €17,833 | -€7,042 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,124 | €29,593 | +€39,717 | |
| Income taxes | 67/77 | - | €7,081 | +€7,081 | |
| Profit (loss) for the period | 9904 | -€10,124 | €22,512 | +€32,635 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,124 | €22,512 | +€32,635 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.