G&F: what changed
G&F
Largest movements
- Cash +€18,095
up €18,095 (+5,909%), from €306 to €18,402
mainly Net result for the year (+€22,786) and Receivables within one year (+€6,086)
- Receivables after one year +€12,200
up €12,200 (+172%), from €7,077 to €19,277
- Receivables within one year -€6,086
down €6,086 (-78.5%), from €7,752 to €1,666
of which Trade receivables: -€6,758
- Tangible fixed assets +€995
new in 2025: €995
- Deferred charges and accrued income -€790
no longer reported in 2025 (was €790)
- Reserves +€22,786
up €22,786 (+249%), from €9,148 to €31,935
- Tax, wage and social debts +€899
up €899 (+40.3%), from €2,232 to €3,131
- Other debts +€680
new in 2025: €680
- Gross operating margin +€12,514
up €12,514 (+63.5%), from €19,693 to €32,207
- Taxes +€5,624
up €5,624 (+160%), from €3,508 to €9,132
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,926 | €40,339 | +€24,414 | +153% |
| Fixed assets | 21/28 | - | €995 | +€995 | |
| Tangible fixed assets | 22/27 | - | €995 | +€995 | |
| Furniture and vehicles | 24 | - | €995 | +€995 | |
| Current assets | 29/58 | €15,926 | €39,345 | +€23,419 | +147% |
| Amounts receivable after more than one year | 29 | €7,077 | €19,277 | +€12,200 | +172% |
| Other amounts receivable | 291 | €7,077 | €19,277 | +€12,200 | +172% |
| Amounts receivable within one year | 40/41 | €7,752 | €1,666 | -€6,086 | -78.5% |
| Trade receivables | 40 | €7,260 | €502 | -€6,758 | -93.1% |
| Other amounts receivable | 41 | €492 | €1,164 | +€672 | +137% |
| Cash at bank and in hand | 54/58 | €306 | €18,402 | +€18,095 | +5,909% |
| Deferred charges and accrued income | 490/1 | €790 | - | -€790 | |
| Total equity and liabilities | 10/49 | €15,926 | €40,339 | +€24,414 | +153% |
| Equity | 10/15 | €11,648 | €34,435 | +€22,786 | +196% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €9,148 | €31,935 | +€22,786 | +249% |
| Distributable reserves | 133 | €9,148 | €31,935 | +€22,786 | +249% |
| Amounts payable | 17/49 | €4,277 | €5,905 | +€1,627 | +38.0% |
| Amounts payable within one year | 42/48 | €4,277 | €5,905 | +€1,627 | +38.0% |
| Trade debts | 44 | €2,046 | €1,934 | -€112 | -5.5% |
| Suppliers | 440/4 | €2,046 | €1,934 | -€112 | -5.5% |
| Advances received on contracts in progress | 46 | - | €160 | +€160 | |
| Taxes, remuneration and social security | 45 | €2,232 | €3,131 | +€899 | +40.3% |
| Taxes | 450/3 | €2,232 | €3,131 | +€899 | +40.3% |
| Other amounts payable | 47/48 | - | €680 | +€680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €135 | +€135 | |
| Other operating charges | 640/8 | €227 | - | -€227 | |
| Gross operating margin | 9900 | €19,693 | €32,207 | +€12,514 | +63.5% |
| Operating profit (loss) | 9901 | €19,466 | €32,072 | +€12,606 | +64.8% |
| Financial charges | 65/66B | €196 | €154 | -€43 | -21.8% |
| Recurring financial charges | 65 | €196 | €154 | -€43 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €19,270 | €31,918 | +€12,648 | +65.6% |
| Income taxes | 67/77 | €3,508 | €9,132 | +€5,624 | +160% |
| Profit (loss) for the period | 9904 | €15,762 | €22,786 | +€7,024 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,762 | €22,786 | +€7,024 | +44.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.