G-co: 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-co
Largest movements
- Tangible fixed assets +€41,285
up €41,285 (+19.0%), from €217,042 to €258,327
of which Furniture and vehicles: +€38,988
- Cash -€39,414
down €39,414 (-84.5%), from €46,652 to €7,238
mainly Investment in fixed assets (net) (-€65,030) and Tax, wage and social debts (-€24,752)
- Deferred charges and accrued income +€5,811
up €5,811 (+29.4%), from €19,780 to €25,591
- Other debts +€31,106
up €31,106 (+60.2%), from €51,677 to €82,783
- Tax, wage and social debts -€24,752
down €24,752 (-60.7%), from €40,809 to €16,057
of which Taxes: -€20,258
- Debts after one year -€14,547
down €14,547 (-13.7%), from €106,430 to €91,883
- Trade debts +€10,797
up €10,797 (+428%), from €2,524 to €13,321
- Gross operating margin -€22,343
down €22,343 (-18.1%), from €123,617 to €101,274
- Taxes +€8,239
up €8,239 (+102%), from €8,062 to €16,300
- Depreciation +€7,844
up €7,844 (+49.3%), from €15,900 to €23,745
- Staff costs +€2,017
up €2,017 (+5.0%), from €40,211 to €42,228
- Financial charges -€1,354
down €1,354 (-9.1%), from €14,884 to €13,529
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 | €331,510 | €337,267 | +€5,757 | +1.7% |
| Fixed assets | 21/28 | €220,142 | €261,427 | +€41,285 | +18.8% |
| Tangible fixed assets | 22/27 | €217,042 | €258,327 | +€41,285 | +19.0% |
| Land and buildings | 22 | €159,040 | €155,441 | -€3,600 | -2.3% |
| Plant, machinery and equipment | 23 | €9,434 | €15,824 | +€6,390 | +67.7% |
| Furniture and vehicles | 24 | €36,725 | €75,713 | +€38,988 | +106% |
| Other tangible fixed assets | 26 | €11,843 | €11,350 | -€493 | -4.2% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €111,368 | €75,840 | -€35,528 | -31.9% |
| Amounts receivable within one year | 40/41 | €44,936 | €43,011 | -€1,925 | -4.3% |
| Trade receivables | 40 | €33,700 | €37,715 | +€4,015 | +11.9% |
| Other amounts receivable | 41 | €11,236 | €5,296 | -€5,941 | -52.9% |
| Cash at bank and in hand | 54/58 | €46,652 | €7,238 | -€39,414 | -84.5% |
| Deferred charges and accrued income | 490/1 | €19,780 | €25,591 | +€5,811 | +29.4% |
| Total equity and liabilities | 10/49 | €331,510 | €337,267 | +€5,757 | +1.7% |
| Equity | 10/15 | €105,639 | €108,430 | +€2,791 | +2.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €99,069 | €101,860 | +€2,791 | +2.8% |
| Tax-exempt reserves | 132 | €31,569 | €30,383 | -€1,186 | -3.8% |
| Distributable reserves | 133 | €67,500 | €71,477 | +€3,977 | +5.9% |
| Profit (loss) carried forward | 14 | €369 | €369 | = | 0.0% |
| Provisions and deferred taxes | 16 | €6,511 | €6,215 | -€297 | -4.6% |
| Deferred taxes | 168 | €6,511 | €6,215 | -€297 | -4.6% |
| Amounts payable | 17/49 | €219,360 | €222,623 | +€3,262 | +1.5% |
| Amounts payable after more than one year | 17 | €106,430 | €91,883 | -€14,547 | -13.7% |
| Financial debts | 170/4 | €106,430 | €91,883 | -€14,547 | -13.7% |
| Amounts payable within one year | 42/48 | €112,931 | €130,740 | +€17,809 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €13,619 | €14,547 | +€928 | +6.8% |
| Financial debts | 43 | €4,302 | €4,032 | -€270 | -6.3% |
| Credit institutions | 430/8 | €0 | €3,334 | +€3,334 | |
| Other loans | 439 | €4,302 | €697 | -€3,605 | -83.8% |
| Trade debts | 44 | €2,524 | €13,321 | +€10,797 | +428% |
| Suppliers | 440/4 | €2,524 | €13,321 | +€10,797 | +428% |
| Taxes, remuneration and social security | 45 | €40,809 | €16,057 | -€24,752 | -60.7% |
| Taxes | 450/3 | €30,958 | €10,700 | -€20,258 | -65.4% |
| Remuneration and social security | 454/9 | €9,851 | €5,357 | -€4,494 | -45.6% |
| Other amounts payable | 47/48 | €51,677 | €82,783 | +€31,106 | +60.2% |
| Non-recurring operating income | 76A | €17,986 | €0 | -€17,986 | -100% |
| Remuneration, social security and pensions | 62 | €40,211 | €42,228 | +€2,017 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,900 | €23,745 | +€7,844 | +49.3% |
| Other operating charges | 640/8 | €1,360 | €2,054 | +€695 | +51.1% |
| Non-recurring operating charges | 66A | - | €996 | +€996 | |
| Gross operating margin | 9900 | €123,617 | €101,274 | -€22,343 | -18.1% |
| Operating profit (loss) | 9901 | €66,146 | €32,251 | -€33,895 | -51.2% |
| Financial income | 75/76B | €13 | €74 | +€61 | +478% |
| Recurring financial income | 75 | €13 | €74 | +€61 | +478% |
| Financial charges | 65/66B | €14,884 | €13,529 | -€1,354 | -9.1% |
| Recurring financial charges | 65 | €14,884 | €13,529 | -€1,354 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €51,275 | €18,795 | -€32,480 | -63.3% |
| Transfer from deferred taxes | 780 | €3,374 | €297 | -€3,077 | -91.2% |
| Income taxes | 67/77 | €8,062 | €16,300 | +€8,239 | +102% |
| Profit (loss) for the period | 9904 | €46,587 | €2,791 | -€43,795 | -94.0% |
| Transfer from tax-exempt reserves | 789 | €13,494 | €1,186 | -€12,308 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,081 | €3,977 | -€56,104 | -93.4% |
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 18 October 2026 via checked.be.