G.C. Management: 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. Management
Largest movements
- Tangible fixed assets -€25,006
down €25,006 (-23.5%), from €106,264 to €81,258
of which Leasing and similar rights: -€22,987
- Cash -€15,284
down €15,284 (-35.5%), from €43,013 to €27,729
mainly Contributions, distributions and other (-€99,633) and Debts after one year (-€16,086)
- Receivables within one year -€3,803
down €3,803 (-7.1%), from €53,258 to €49,454
of which Trade receivables: -€6,151
- Contributions -€18,600
down €18,600 (-100%), from €18,600 to €0
- Debts after one year -€16,086
down €16,086 (-55.8%), from €28,807 to €12,721
- Other debts -€14,396
down €14,396 (-12.9%), from €111,986 to €97,590
- Tax, wage and social debts -€7,899
down €7,899 (-45.7%), from €17,283 to €9,384
- Current portion of long-term debt +€7,743
up €7,743 (+33.6%), from €23,014 to €30,757
- Gross operating margin -€15,850
down €15,850 (-9.5%), from €166,201 to €150,351
- Depreciation +€6,067
up €6,067 (+19.4%), from €31,273 to €37,340
- Taxes -€4,731
down €4,731 (-15.3%), from €30,949 to €26,217
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 | €202,707 | €158,625 | -€44,081 | -21.7% |
| Fixed assets | 21/28 | €106,264 | €81,258 | -€25,006 | -23.5% |
| Tangible fixed assets | 22/27 | €106,264 | €81,258 | -€25,006 | -23.5% |
| Plant, machinery and equipment | 23 | €1,519 | €666 | -€853 | -56.1% |
| Furniture and vehicles | 24 | €5,581 | €3,529 | -€2,052 | -36.8% |
| Leasing and similar rights | 25 | €51,682 | €28,695 | -€22,987 | -44.5% |
| Other tangible fixed assets | 26 | €47,483 | €48,368 | +€886 | +1.9% |
| Current assets | 29/58 | €96,443 | €77,368 | -€19,075 | -19.8% |
| Amounts receivable within one year | 40/41 | €53,258 | €49,454 | -€3,803 | -7.1% |
| Trade receivables | 40 | €50,605 | €44,454 | -€6,151 | -12.2% |
| Other amounts receivable | 41 | €2,653 | €5,000 | +€2,347 | +88.5% |
| Cash at bank and in hand | 54/58 | €43,013 | €27,729 | -€15,284 | -35.5% |
| Deferred charges and accrued income | 490/1 | €172 | €184 | +€12 | +7.2% |
| Total equity and liabilities | 10/49 | €202,707 | €158,625 | -€44,081 | -21.7% |
| Equity | 10/15 | €18,600 | €0 | -€18,600 | -100% |
| Contributions | 10/11 | €18,600 | €0 | -€18,600 | -100% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €184,107 | €158,625 | -€25,481 | -13.8% |
| Amounts payable after more than one year | 17 | €28,807 | €12,721 | -€16,086 | -55.8% |
| Financial debts | 170/4 | €28,807 | €12,721 | -€16,086 | -55.8% |
| Amounts payable within one year | 42/48 | €155,300 | €145,905 | -€9,395 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €23,014 | €30,757 | +€7,743 | +33.6% |
| Trade debts | 44 | €3,016 | €8,174 | +€5,158 | +171% |
| Suppliers | 440/4 | €3,016 | €8,174 | +€5,158 | +171% |
| Taxes, remuneration and social security | 45 | €17,283 | €9,384 | -€7,899 | -45.7% |
| Taxes | 450/3 | €17,283 | €9,384 | -€7,899 | -45.7% |
| Other amounts payable | 47/48 | €111,986 | €97,590 | -€14,396 | -12.9% |
| Remuneration, social security and pensions | 62 | €250 | €0 | -€250 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,273 | €37,340 | +€6,067 | +19.4% |
| Other operating charges | 640/8 | €3,986 | €3,713 | -€273 | -6.8% |
| Gross operating margin | 9900 | €166,201 | €150,351 | -€15,850 | -9.5% |
| Operating profit (loss) | 9901 | €130,691 | €109,297 | -€21,394 | -16.4% |
| Financial income | 75/76B | €3 | €18 | +€15 | +482% |
| Recurring financial income | 75 | €3 | €18 | +€15 | +482% |
| Financial charges | 65/66B | €2,359 | €2,064 | -€295 | -12.5% |
| Recurring financial charges | 65 | €2,359 | €2,064 | -€295 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €128,336 | €107,251 | -€21,085 | -16.4% |
| Income taxes | 67/77 | €30,949 | €26,217 | -€4,731 | -15.3% |
| Profit (loss) for the period | 9904 | €97,387 | €81,033 | -€16,353 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €97,387 | €81,033 | -€16,353 | -16.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.