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
- Receivables within one year +€19,023
up €19,023 (+230.3%), from €8,260 to €27,283
of which Other amounts receivable: +€12,783
- Cash +€5,376
up €5,376 (+60.6%), from €8,866 to €14,242
mainly Depreciation (+€25,351) and Trade debts (+€19,762)
- Tangible fixed assets -€4,380
down €4,380 (-5.5%), from €79,085 to €74,705
of which Furniture and vehicles: -€4,787
- Deferred charges and accrued income +€1,557
up €1,557 (+238.1%), from €654 to €2,211
- Stocks and contracts -€1,365
down €1,365 (-9.0%), from €15,167 to €13,802
- Trade debts +€19,762
up €19,762 (+112.5%), from €17,573 to €37,334
- Short-term financial debts +€16,723
up €16,723 (+195.0%), from €8,577 to €25,300
- Current portion of long-term debt -€7,885
down €7,885 (-35.3%), from €22,322 to €14,437
- Profit (loss) carried forward -€6,308
down €6,308 (-33.9%), from -€18,598 to -€24,906
- Debts after one year -€6,010
down €6,010 (-32.4%), from €18,524 to €12,515
- Gross operating margin +€111,418
up €111,418 (+17.9%), from €623,760 to €735,178
- Staff costs +€89,124
up €89,124 (+14.9%), from €597,093 to €686,216
- Taxes +€9,135
up €9,135 (+6514.8%), from €140 to €9,275
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 | €113,633 | €133,843 | +€20,210 | +17.8% |
| Fixed assets | 21/28 | €80,685 | €76,305 | -€4,380 | -5.4% |
| Tangible fixed assets | 22/27 | €79,085 | €74,705 | -€4,380 | -5.5% |
| Plant, machinery and equipment | 23 | €53,954 | €54,361 | +€406 | +0.8% |
| Furniture and vehicles | 24 | €25,131 | €20,344 | -€4,787 | -19.0% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €32,948 | €57,538 | +€24,591 | +74.6% |
| Stocks and contracts in progress | 3 | €15,167 | €13,802 | -€1,365 | -9.0% |
| Stocks | 30/36 | €15,167 | €13,802 | -€1,365 | -9.0% |
| Amounts receivable within one year | 40/41 | €8,260 | €27,283 | +€19,023 | +230.3% |
| Trade receivables | 40 | €0 | €6,240 | +€6,240 | +1599887.2% |
| Other amounts receivable | 41 | €8,260 | €21,043 | +€12,783 | +154.8% |
| Cash at bank and in hand | 54/58 | €8,866 | €14,242 | +€5,376 | +60.6% |
| Deferred charges and accrued income | 490/1 | €654 | €2,211 | +€1,557 | +238.1% |
| Total equity and liabilities | 10/49 | €113,633 | €133,843 | +€20,210 | +17.8% |
| Equity | 10/15 | €18,899 | €12,591 | -€6,308 | -33.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,897 | €18,897 | = | 0.0% |
| Distributable reserves | 133 | €18,897 | €18,897 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,598 | -€24,906 | -€6,308 | -33.9% |
| Amounts payable | 17/49 | €94,734 | €121,252 | +€26,519 | +28.0% |
| Amounts payable after more than one year | 17 | €18,524 | €12,515 | -€6,010 | -32.4% |
| Financial debts | 170/4 | €18,524 | €12,515 | -€6,010 | -32.4% |
| Amounts payable within one year | 42/48 | €76,209 | €108,738 | +€32,528 | +42.7% |
| Current portion of amounts payable after more than one year | 42 | €22,322 | €14,437 | -€7,885 | -35.3% |
| Financial debts | 43 | €8,577 | €25,300 | +€16,723 | +195.0% |
| Credit institutions | 430/8 | €8,577 | €25,300 | +€16,723 | +195.0% |
| Trade debts | 44 | €17,573 | €37,334 | +€19,762 | +112.5% |
| Suppliers | 440/4 | €17,573 | €37,334 | +€19,762 | +112.5% |
| Taxes, remuneration and social security | 45 | €27,737 | €31,666 | +€3,929 | +14.2% |
| Taxes | 450/3 | €276 | €277 | +€1 | +0.2% |
| Remuneration and social security | 454/9 | €27,461 | €31,389 | +€3,928 | +14.3% |
| Remuneration, social security and pensions | 62 | €597,093 | €686,216 | +€89,124 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,186 | €25,351 | +€2,165 | +9.3% |
| Other operating charges | 640/8 | €5,296 | €6,171 | +€875 | +16.5% |
| Gross operating margin | 9900 | €623,760 | €735,178 | +€111,418 | +17.9% |
| Operating profit (loss) | 9901 | -€1,816 | €17,439 | +€19,254 | |
| Financial income | 75/76B | €368 | €291 | -€77 | -20.9% |
| Recurring financial income | 75 | €368 | €291 | -€77 | -20.9% |
| Financial charges | 65/66B | €13,551 | €14,763 | +€1,212 | +8.9% |
| Recurring financial charges | 65 | €13,551 | €14,763 | +€1,212 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,998 | €2,967 | +€17,965 | |
| Income taxes | 67/77 | €140 | €9,275 | +€9,135 | +6514.8% |
| Profit (loss) for the period | 9904 | -€15,138 | -€6,308 | +€8,830 | +58.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,138 | -€6,308 | +€8,830 | +58.3% |
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 12 October 2026 via checked.be.