G.C.K.K.: what changed
G.C.K.K.
Largest movements
- Receivables within one year -€27,753
down €27,753 (-43.0%), from €64,504 to €36,751
of which Trade receivables: -€24,143
- Stocks and contracts +€23,178
up €23,178 (+275%), from €8,427 to €31,605
- Deferred charges and accrued income -€16,111
no longer reported in 2025 (was €16,111)
- Tangible fixed assets -€5,881
down €5,881 (-81.5%), from €7,217 to €1,336
of which Plant, machinery and equipment: -€3,954
- Cash -€5,846
down €5,846 (-78.2%), from €7,474 to €1,628
mainly Stocks and contracts (-€23,178) and Trade debts (-€18,955)
- Trade debts -€18,955
down €18,955 (-54.9%), from €34,527 to €15,572
- Tax, wage and social debts -€7,709
down €7,709 (-10.4%), from €74,121 to €66,412
- Other debts -€7,480
down €7,480 (-20.4%), from €36,592 to €29,112
- Profit (loss) carried forward +€1,730
up €1,730 (+3.6%), from -€47,881 to -€46,151
- Other operating charges -€52,875
down €52,875 (-95.3%), from €55,482 to €2,607
- Gross operating margin -€47,850
down €47,850 (-85.2%), from €56,172 to €8,322
- Depreciation +€1,201
up €1,201 (+46.3%), from €2,591 to €3,792
- Taxes +€696
no longer reported in 2025 (was -€696)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €103,733 | €71,319 | -€32,414 | -31.2% |
| Fixed assets | 21/28 | €7,217 | €1,336 | -€5,881 | -81.5% |
| Tangible fixed assets | 22/27 | €7,217 | €1,336 | -€5,881 | -81.5% |
| Plant, machinery and equipment | 23 | €5,290 | €1,336 | -€3,954 | -74.7% |
| Furniture and vehicles | 24 | €1,927 | - | -€1,927 | |
| Current assets | 29/58 | €96,516 | €69,983 | -€26,533 | -27.5% |
| Stocks and contracts in progress | 3 | €8,427 | €31,605 | +€23,178 | +275% |
| Stocks | 30/36 | €8,427 | €31,605 | +€23,178 | +275% |
| Amounts receivable within one year | 40/41 | €64,504 | €36,751 | -€27,753 | -43.0% |
| Trade receivables | 40 | €26,636 | €2,493 | -€24,143 | -90.6% |
| Other amounts receivable | 41 | €37,868 | €34,258 | -€3,610 | -9.5% |
| Cash at bank and in hand | 54/58 | €7,474 | €1,628 | -€5,846 | -78.2% |
| Deferred charges and accrued income | 490/1 | €16,111 | - | -€16,111 | |
| Total equity and liabilities | 10/49 | €103,733 | €71,319 | -€32,414 | -31.2% |
| Equity | 10/15 | -€41,507 | -€39,777 | +€1,730 | +4.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | - | -€2,000 | |
| Issued capital | 100 | €2,000 | - | -€2,000 | |
| Reserves | 13 | €4,374 | €4,374 | +€0 | 0.0% |
| Distributable reserves | 133 | €4,374 | €4,374 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€47,881 | -€46,151 | +€1,730 | +3.6% |
| Amounts payable | 17/49 | €145,240 | €111,096 | -€34,144 | -23.5% |
| Amounts payable within one year | 42/48 | €145,240 | €111,096 | -€34,144 | -23.5% |
| Trade debts | 44 | €34,527 | €15,572 | -€18,955 | -54.9% |
| Suppliers | 440/4 | €34,527 | €15,572 | -€18,955 | -54.9% |
| Taxes, remuneration and social security | 45 | €74,121 | €66,412 | -€7,709 | -10.4% |
| Taxes | 450/3 | €74,121 | €66,412 | -€7,709 | -10.4% |
| Other amounts payable | 47/48 | €36,592 | €29,112 | -€7,480 | -20.4% |
| Non-recurring operating income | 76A | €61,777 | - | -€61,777 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,591 | €3,792 | +€1,201 | +46.3% |
| Other operating charges | 640/8 | €55,482 | €2,607 | -€52,875 | -95.3% |
| Non-recurring operating charges | 66A | €9,938 | - | -€9,938 | |
| Gross operating margin | 9900 | €56,172 | €8,322 | -€47,850 | -85.2% |
| Operating profit (loss) | 9901 | -€11,839 | €1,924 | +€13,763 | |
| Financial income | 75/76B | €548 | €17 | -€531 | -96.9% |
| Recurring financial income | 75 | €548 | €17 | -€531 | -96.9% |
| Financial charges | 65/66B | €286 | €211 | -€75 | -26.1% |
| Recurring financial charges | 65 | €286 | €211 | -€75 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,577 | €1,730 | +€13,307 | |
| Income taxes | 67/77 | -€696 | - | +€696 | |
| Profit (loss) for the period | 9904 | -€10,881 | €1,730 | +€12,611 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,881 | €1,730 | +€12,611 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.