G.F.C.: 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.F.C.
Largest movements
- Current investments +€653,326
new in 2025: €653,326
- Financial fixed assets -€205,854
down €205,854 (-13.1%), from €1.6m to €1.4m
- Cash -€52,344
down €52,344 (-33.1%), from €157,959 to €105,615
mainly Current investments (-€653,326) and Other debts (-€161,215)
- Receivables within one year -€37,681
down €37,681 (-16.9%), from €222,718 to €185,037
of which Other amounts receivable: -€37,681
- Reserves +€506,268
up €506,268 (+29.6%), from €1.7m to €2.2m
of which Distributable reserves: +€508,768
- Other debts -€161,215
down €161,215 (-100%), from €161,215 to €0
- Financial income +€206,753
up €206,753 (+91.0%), from €227,225 to €433,979
- Taxes +€49,983
up €49,983 (+125%), from €40,136 to €90,120
- Gross operating margin +€15,276
up €15,276 (+10.2%), from €149,495 to €164,772
- Financial charges -€5,171
down €5,171 (-87.3%), from €5,925 to €754
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 | €1,961,480 | €2,327,501 | +€366,021 | +18.7% |
| Fixed assets | 21/28 | €1,576,500 | €1,370,646 | -€205,854 | -13.1% |
| Financial fixed assets | 28 | €1,576,500 | €1,370,646 | -€205,854 | -13.1% |
| Current assets | 29/58 | €384,980 | €956,855 | +€571,875 | +149% |
| Amounts receivable within one year | 40/41 | €222,718 | €185,037 | -€37,681 | -16.9% |
| Trade receivables | 40 | €24,200 | €24,200 | = | 0.0% |
| Other amounts receivable | 41 | €198,518 | €160,837 | -€37,681 | -19.0% |
| Current investments | 50/53 | - | €653,326 | +€653,326 | |
| Cash at bank and in hand | 54/58 | €157,959 | €105,615 | -€52,344 | -33.1% |
| Deferred charges and accrued income | 490/1 | €4,303 | €12,877 | +€8,574 | +199% |
| Total equity and liabilities | 10/49 | €1,961,480 | €2,327,501 | +€366,021 | +18.7% |
| Equity | 10/15 | €1,737,831 | €2,244,099 | +€506,268 | +29.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,712,831 | €2,219,099 | +€506,268 | +29.6% |
| Non-distributable reserves | 130/1 | €2,500 | €0 | -€2,500 | -100% |
| Reserves not available under the articles | 1311 | €2,500 | €0 | -€2,500 | -100% |
| Distributable reserves | 133 | €1,710,331 | €2,219,099 | +€508,768 | +29.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €223,650 | €83,402 | -€140,247 | -62.7% |
| Amounts payable within one year | 42/48 | €223,650 | €80,842 | -€142,808 | -63.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €12,661 | €18,629 | +€5,968 | +47.1% |
| Suppliers | 440/4 | €12,661 | €18,629 | +€5,968 | +47.1% |
| Taxes, remuneration and social security | 45 | €49,774 | €62,213 | +€12,439 | +25.0% |
| Taxes | 450/3 | €44,774 | €62,213 | +€17,439 | +38.9% |
| Remuneration and social security | 454/9 | €5,000 | €0 | -€5,000 | -100% |
| Other amounts payable | 47/48 | €161,215 | €0 | -€161,215 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €2,560 | +€2,560 | |
| Other operating charges | 640/8 | €1,153 | €1,608 | +€456 | +39.5% |
| Gross operating margin | 9900 | €149,495 | €164,772 | +€15,276 | +10.2% |
| Operating profit (loss) | 9901 | €148,343 | €163,163 | +€14,821 | +10.0% |
| Financial income | 75/76B | €227,225 | €433,979 | +€206,753 | +91.0% |
| Recurring financial income | 75 | €227,225 | €433,979 | +€206,753 | +91.0% |
| Financial charges | 65/66B | €5,925 | €754 | -€5,171 | -87.3% |
| Recurring financial charges | 65 | €5,925 | €754 | -€5,171 | -87.3% |
| Profit (loss) for the period before taxes | 9903 | €369,643 | €596,388 | +€226,745 | +61.3% |
| Income taxes | 67/77 | €40,136 | €90,120 | +€49,983 | +125% |
| Profit (loss) for the period | 9904 | €329,507 | €506,268 | +€176,761 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €329,507 | €506,268 | +€176,761 | +53.6% |
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 30 October 2026 via checked.be.