G&E invest: 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&E invest
Largest movements
- Cash -€116,225
down €116,225 (-53.8%), from €215,859 to €99,634
mainly Contributions, distributions and other (-€215,000) and Debts after one year (-€38,750)
- Tangible fixed assets -€21,776
down €21,776 (-2.3%), from €939,483 to €917,706
of which Other tangible fixed assets: -€13,569
- Receivables within one year +€12,285
up €12,285 (+30.5%), from €40,267 to €52,552
- Reserves -€163,572
down €163,572 (-48.8%), from €335,054 to €171,482
- Other debts +€87,771
up €87,771 (+21,278%), from €413 to €88,183
- Debts after one year -€38,750
down €38,750 (-5.7%), from €681,354 to €642,604
- Tax, wage and social debts -€12,265
down €12,265 (-10.4%), from €117,972 to €105,708
- Gross operating margin -€119,500
down €119,500 (-50.0%), from €238,802 to €119,302
- Taxes -€28,134
down €28,134 (-62.2%), from €45,200 to €17,065
- Depreciation -€22,659
down €22,659 (-55.2%), from €41,022 to €18,363
- Other operating charges -€6,095
down €6,095 (-59.3%), from €10,284 to €4,189
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 | €1,197,567 | €1,069,893 | -€127,674 | -10.7% |
| Fixed assets | 21/28 | €941,441 | €917,706 | -€23,734 | -2.5% |
| Tangible fixed assets | 22/27 | €939,483 | €917,706 | -€21,776 | -2.3% |
| Land and buildings | 22 | €825,493 | €825,493 | = | 0.0% |
| Plant, machinery and equipment | 23 | €14,290 | €13,921 | -€369 | -2.6% |
| Furniture and vehicles | 24 | €51,605 | €43,766 | -€7,839 | -15.2% |
| Other tangible fixed assets | 26 | €48,095 | €34,527 | -€13,569 | -28.2% |
| Financial fixed assets | 28 | €1,958 | €0 | -€1,958 | -100% |
| Current assets | 29/58 | €256,127 | €152,187 | -€103,940 | -40.6% |
| Amounts receivable within one year | 40/41 | €40,267 | €52,552 | +€12,285 | +30.5% |
| Trade receivables | 40 | €40,267 | €52,552 | +€12,285 | +30.5% |
| Cash at bank and in hand | 54/58 | €215,859 | €99,634 | -€116,225 | -53.8% |
| Total equity and liabilities | 10/49 | €1,197,567 | €1,069,893 | -€127,674 | -10.7% |
| Equity | 10/15 | €336,054 | €172,482 | -€163,572 | -48.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €335,054 | €171,482 | -€163,572 | -48.8% |
| Distributable reserves | 133 | €335,054 | €171,482 | -€163,572 | -48.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €861,513 | €897,411 | +€35,898 | +4.2% |
| Amounts payable after more than one year | 17 | €681,354 | €642,604 | -€38,750 | -5.7% |
| Financial debts | 170/4 | €681,354 | €642,604 | -€38,750 | -5.7% |
| Amounts payable within one year | 42/48 | €180,159 | €254,807 | +€74,648 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €41,979 | €41,979 | = | 0.0% |
| Trade debts | 44 | €19,795 | €18,937 | -€858 | -4.3% |
| Suppliers | 440/4 | €19,795 | €18,937 | -€858 | -4.3% |
| Taxes, remuneration and social security | 45 | €117,972 | €105,708 | -€12,265 | -10.4% |
| Taxes | 450/3 | €117,972 | €105,708 | -€12,265 | -10.4% |
| Other amounts payable | 47/48 | €413 | €88,183 | +€87,771 | +21,278% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,270 | €0 | -€2,270 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,022 | €18,363 | -€22,659 | -55.2% |
| Other operating charges | 640/8 | €10,284 | €4,189 | -€6,095 | -59.3% |
| Gross operating margin | 9900 | €238,802 | €119,302 | -€119,500 | -50.0% |
| Operating profit (loss) | 9901 | €187,495 | €96,749 | -€90,746 | -48.4% |
| Financial income | 75/76B | €0 | €36 | +€36 | |
| Recurring financial income | 75 | €0 | €36 | +€36 | |
| Financial charges | 65/66B | €30,451 | €28,293 | -€2,158 | -7.1% |
| Recurring financial charges | 65 | €30,451 | €28,293 | -€2,158 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €157,044 | €68,493 | -€88,552 | -56.4% |
| Income taxes | 67/77 | €45,200 | €17,065 | -€28,134 | -62.2% |
| Profit (loss) for the period | 9904 | €111,845 | €51,428 | -€60,417 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €111,845 | €51,428 | -€60,417 | -54.0% |
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 29 October 2026 via checked.be.