G-Free RED: 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-Free RED
Largest movements
- Cash -€20,029
down €20,029 (-32.4%), from €61,752 to €41,723
mainly Net result for the year (-€58,344) and Tax, wage and social debts (-€3,546)
- Receivables within one year -€8,554
down €8,554 (-68.7%), from €12,456 to €3,901
of which Trade receivables: -€8,822
- Intangible fixed assets -€5,360
down €5,360 (-25.5%), from €21,012 to €15,652
- Profit (loss) carried forward -€58,344
down €58,344, from €10,790 to -€47,554
- Other debts +€29,092
up €29,092 (+42.5%), from €68,497 to €97,589
- Tax, wage and social debts -€3,546
down €3,546 (-90.9%), from €3,900 to €355
- Trade debts -€1,492
down €1,492 (-17.4%), from €8,595 to €7,103
- Gross operating margin -€44,743
down €44,743 (-644%), from -€6,944 to -€51,687
- Depreciation +€743
up €743 (+14.1%), from €5,268 to €6,011
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 | €96,950 | €62,544 | -€34,406 | -35.5% |
| Fixed assets | 21/28 | €22,587 | €16,576 | -€6,011 | -26.6% |
| Intangible fixed assets | 21 | €21,012 | €15,652 | -€5,360 | -25.5% |
| Tangible fixed assets | 22/27 | €1,575 | €924 | -€651 | -41.4% |
| Furniture and vehicles | 24 | €1,575 | €924 | -€651 | -41.4% |
| Current assets | 29/58 | €74,363 | €45,968 | -€28,395 | -38.2% |
| Amounts receivable within one year | 40/41 | €12,456 | €3,901 | -€8,554 | -68.7% |
| Trade receivables | 40 | €12,456 | €3,634 | -€8,822 | -70.8% |
| Other amounts receivable | 41 | - | €268 | +€268 | |
| Cash at bank and in hand | 54/58 | €61,752 | €41,723 | -€20,029 | -32.4% |
| Deferred charges and accrued income | 490/1 | €155 | €343 | +€188 | +121% |
| Total equity and liabilities | 10/49 | €96,950 | €62,544 | -€34,406 | -35.5% |
| Equity | 10/15 | €15,790 | -€42,554 | -€58,344 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,790 | -€47,554 | -€58,344 | |
| Amounts payable | 17/49 | €81,160 | €105,098 | +€23,938 | +29.5% |
| Amounts payable within one year | 42/48 | €80,992 | €105,080 | +€24,088 | +29.7% |
| Financial debts | 43 | - | €34 | +€34 | |
| Credit institutions | 430/8 | - | €34 | +€34 | |
| Trade debts | 44 | €8,595 | €7,103 | -€1,492 | -17.4% |
| Suppliers | 440/4 | €8,595 | €7,103 | -€1,492 | -17.4% |
| Taxes, remuneration and social security | 45 | €3,900 | €355 | -€3,546 | -90.9% |
| Taxes | 450/3 | €3,900 | €355 | -€3,546 | -90.9% |
| Other amounts payable | 47/48 | €68,497 | €97,589 | +€29,092 | +42.5% |
| Accrued charges and deferred income | 492/3 | €167 | €18 | -€150 | -89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,268 | €6,011 | +€743 | +14.1% |
| Other operating charges | 640/8 | €393 | €400 | +€7 | +1.7% |
| Gross operating margin | 9900 | -€6,944 | -€51,687 | -€44,743 | -644% |
| Operating profit (loss) | 9901 | -€12,606 | -€58,098 | -€45,492 | -361% |
| Financial income | 75/76B | €10 | €9 | -€1 | -9.9% |
| Recurring financial income | 75 | €10 | €9 | -€1 | -9.9% |
| Financial charges | 65/66B | €121 | €110 | -€12 | -9.6% |
| Recurring financial charges | 65 | €121 | €110 | -€12 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,717 | -€58,199 | -€45,482 | -358% |
| Income taxes | 67/77 | €131 | €145 | +€14 | +10.4% |
| Profit (loss) for the period | 9904 | -€12,848 | -€58,344 | -€45,496 | -354% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,848 | -€58,344 | -€45,496 | -354% |
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 25 October 2026 via checked.be.