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
- Cash +€431,600
up €431,600 (+198%), from €218,413 to €650,013
mainly Current investments (+€250,000) and Net result for the year (+€241,239)
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Receivables within one year -€9,689
down €9,689 (-10.3%), from €93,991 to €84,302
of which Trade receivables: -€8,280
- Other debts +€146,543
up €146,543 (+625%), from €23,457 to €170,000
- Reserves +€41,239
up €41,239 (+9.6%), from €428,333 to €469,572
- Tax, wage and social debts -€22,092
down €22,092 (-14.6%), from €151,385 to €129,293
- Gross operating margin +€102,335
up €102,335 (+46.6%), from €219,765 to €322,100
- Taxes +€12,561
up €12,561 (+18.1%), from €69,354 to €81,915
- Financial income -€3,736
down €3,736 (-39.8%), from €9,387 to €5,650
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 | €624,303 | €788,562 | +€164,259 | +26.3% |
| Fixed assets | 21/28 | €55,414 | €53,632 | -€1,782 | -3.2% |
| Tangible fixed assets | 22/27 | €55,414 | €53,632 | -€1,782 | -3.2% |
| Plant, machinery and equipment | 23 | €1,300 | €1,029 | -€271 | -20.8% |
| Furniture and vehicles | 24 | €54,114 | €52,603 | -€1,511 | -2.8% |
| Current assets | 29/58 | €568,889 | €734,930 | +€166,042 | +29.2% |
| Amounts receivable within one year | 40/41 | €93,991 | €84,302 | -€9,689 | -10.3% |
| Trade receivables | 40 | €84,256 | €75,977 | -€8,280 | -9.8% |
| Other amounts receivable | 41 | €9,735 | €8,326 | -€1,409 | -14.5% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €218,413 | €650,013 | +€431,600 | +198% |
| Deferred charges and accrued income | 490/1 | €6,484 | €614 | -€5,870 | -90.5% |
| Total equity and liabilities | 10/49 | €624,303 | €788,562 | +€164,259 | +26.3% |
| Equity | 10/15 | €433,333 | €474,572 | +€41,239 | +9.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €428,333 | €469,572 | +€41,239 | +9.6% |
| Distributable reserves | 133 | €428,333 | €469,572 | +€41,239 | +9.6% |
| Amounts payable | 17/49 | €190,970 | €313,991 | +€123,021 | +64.4% |
| Amounts payable within one year | 42/48 | €188,665 | €313,491 | +€124,826 | +66.2% |
| Trade debts | 44 | €13,823 | €14,198 | +€375 | +2.7% |
| Suppliers | 440/4 | €13,823 | €14,198 | +€375 | +2.7% |
| Taxes, remuneration and social security | 45 | €151,385 | €129,293 | -€22,092 | -14.6% |
| Taxes | 450/3 | €151,385 | €129,293 | -€22,092 | -14.6% |
| Other amounts payable | 47/48 | €23,457 | €170,000 | +€146,543 | +625% |
| Accrued charges and deferred income | 492/3 | €2,305 | €500 | -€1,805 | -78.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,165 | €3,601 | +€436 | +13.8% |
| Other operating charges | 640/8 | €850 | €888 | +€39 | +4.5% |
| Gross operating margin | 9900 | €219,765 | €322,100 | +€102,335 | +46.6% |
| Operating profit (loss) | 9901 | €215,750 | €317,611 | +€101,861 | +47.2% |
| Financial income | 75/76B | €9,387 | €5,650 | -€3,736 | -39.8% |
| Recurring financial income | 75 | €9,387 | €5,650 | -€3,736 | -39.8% |
| Financial charges | 65/66B | €121 | €107 | -€14 | -11.4% |
| Recurring financial charges | 65 | €121 | €107 | -€14 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €225,016 | €323,154 | +€98,138 | +43.6% |
| Income taxes | 67/77 | €69,354 | €81,915 | +€12,561 | +18.1% |
| Profit (loss) for the period | 9904 | €155,662 | €241,239 | +€85,577 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €155,662 | €241,239 | +€85,577 | +55.0% |
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 14 October 2026 via checked.be.