G-CONVERT: 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-CONVERT
Largest movements
- Current investments +€299,998
new in 2025: €299,998
- Cash +€16,089
up €16,089 (+41.6%), from €38,670 to €54,759
mainly Debts after one year (+€172,265) and Other debts (+€75,050)
- Receivables within one year -€10,916
down €10,916 (-37.4%), from €29,169 to €18,253
of which Trade receivables: -€6,715
- Debts after one year +€172,265
new in 2025: €172,265
- Other debts +€75,050
up €75,050 (+492%), from €15,250 to €90,301
- Current portion of long-term debt +€42,366
new in 2025: €42,366
- Trade debts +€15,952
up €15,952 (+122%), from €13,043 to €28,995
- Gross operating margin -€7,541
down €7,541 (-84.1%), from €8,972 to €1,431
- Financial charges +€2,548
up €2,548 (+2,636%), from €97 to €2,645
- Depreciation -€895
down €895 (-51.5%), from €1,738 to €843
- Taxes -€130
down €130 (-15.3%), from €852 to €722
- Other operating charges +€100
new in 2025: €100
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 | €69,984 | €376,383 | +€306,400 | +438% |
| Fixed assets | 21/28 | €1,893 | €2,501 | +€608 | +32.1% |
| Intangible fixed assets | 21 | €379 | - | -€379 | |
| Tangible fixed assets | 22/27 | €1,514 | €2,501 | +€987 | +65.2% |
| Furniture and vehicles | 24 | €1,514 | €2,501 | +€987 | +65.2% |
| Current assets | 29/58 | €68,091 | €373,882 | +€305,791 | +449% |
| Amounts receivable within one year | 40/41 | €29,169 | €18,253 | -€10,916 | -37.4% |
| Trade receivables | 40 | €24,968 | €18,253 | -€6,715 | -26.9% |
| Other amounts receivable | 41 | €4,201 | - | -€4,201 | |
| Current investments | 50/53 | - | €299,998 | +€299,998 | |
| Cash at bank and in hand | 54/58 | €38,670 | €54,759 | +€16,089 | +41.6% |
| Deferred charges and accrued income | 490/1 | €252 | €873 | +€621 | +246% |
| Total equity and liabilities | 10/49 | €69,984 | €376,383 | +€306,400 | +438% |
| Equity | 10/15 | €40,838 | €37,959 | -€2,879 | -7.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,288 | €19,409 | -€2,879 | -12.9% |
| Amounts payable | 17/49 | €29,146 | €338,424 | +€309,278 | +1,061% |
| Amounts payable after more than one year | 17 | - | €172,265 | +€172,265 | |
| Financial debts | 170/4 | - | €172,265 | +€172,265 | |
| Amounts payable within one year | 42/48 | €29,146 | €166,159 | +€137,014 | +470% |
| Current portion of amounts payable after more than one year | 42 | - | €42,366 | +€42,366 | |
| Trade debts | 44 | €13,043 | €28,995 | +€15,952 | +122% |
| Suppliers | 440/4 | €13,043 | €28,995 | +€15,952 | +122% |
| Taxes, remuneration and social security | 45 | €852 | €4,498 | +€3,646 | +428% |
| Taxes | 450/3 | €852 | €4,498 | +€3,646 | +428% |
| Other amounts payable | 47/48 | €15,250 | €90,301 | +€75,050 | +492% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,738 | €843 | -€895 | -51.5% |
| Other operating charges | 640/8 | - | €100 | +€100 | |
| Gross operating margin | 9900 | €8,972 | €1,431 | -€7,541 | -84.1% |
| Operating profit (loss) | 9901 | €7,234 | €488 | -€6,746 | -93.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €97 | €2,645 | +€2,548 | +2,636% |
| Recurring financial charges | 65 | €97 | €2,645 | +€2,548 | +2,636% |
| Profit (loss) for the period before taxes | 9903 | €7,138 | -€2,157 | -€9,295 | |
| Income taxes | 67/77 | €852 | €722 | -€130 | -15.3% |
| Profit (loss) for the period | 9904 | €6,286 | -€2,879 | -€9,165 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,286 | -€2,879 | -€9,165 |
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.