G & G: 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 & G
Largest movements
- Receivables within one year +€91,460
up €91,460 (+102%), from €89,720 to €181,180
of which Other amounts receivable: +€163,030
- Current investments +€60,221
up €60,221 (+43.1%), from €139,776 to €199,997
- Receivables after one year -€60,000
down €60,000 (-100%), from €60,000 to €0
- Tangible fixed assets -€24,437
down €24,437 (-21.8%), from €111,846 to €87,410
- Cash -€19,344
down €19,344 (-91.8%), from €21,061 to €1,717
mainly Receivables within one year (-€91,460) and Other debts (-€74,928)
- Reserves +€157,786
up €157,786 (+34.9%), from €451,628 to €609,414
- Other debts -€74,928
down €74,928 (-21.9%), from €342,726 to €267,798
- Debts after one year -€38,177
down €38,177 (-35.0%), from €109,063 to €70,886
- Tax, wage and social debts +€12,841
up €12,841 (+33.1%), from €38,831 to €51,672
- Financial income +€198,806
up €198,806 (+4,830%), from €4,116 to €202,922
- Gross operating margin -€124,634
down €124,634 (-50.9%), from €244,775 to €120,141
- Taxes -€23,391
down €23,391 (-36.2%), from €64,701 to €41,310
- Depreciation +€7,854
up €7,854 (+41.1%), from €19,106 to €26,961
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 | €1,022,590 | €1,073,209 | +€50,620 | +5.0% |
| Fixed assets | 21/28 | €711,846 | €687,410 | -€24,437 | -3.4% |
| Tangible fixed assets | 22/27 | €111,846 | €87,410 | -€24,437 | -21.8% |
| Furniture and vehicles | 24 | €111,846 | €87,410 | -€24,437 | -21.8% |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €310,743 | €385,799 | +€75,056 | +24.2% |
| Amounts receivable after more than one year | 29 | €60,000 | €0 | -€60,000 | -100% |
| Other amounts receivable | 291 | €60,000 | €0 | -€60,000 | -100% |
| Amounts receivable within one year | 40/41 | €89,720 | €181,180 | +€91,460 | +102% |
| Trade receivables | 40 | €89,720 | €18,150 | -€71,570 | -79.8% |
| Other amounts receivable | 41 | - | €163,030 | +€163,030 | |
| Current investments | 50/53 | €139,776 | €199,997 | +€60,221 | +43.1% |
| Cash at bank and in hand | 54/58 | €21,061 | €1,717 | -€19,344 | -91.8% |
| Deferred charges and accrued income | 490/1 | €187 | €2,905 | +€2,719 | +1,457% |
| Total equity and liabilities | 10/49 | €1,022,590 | €1,073,209 | +€50,620 | +5.0% |
| Equity | 10/15 | €472,375 | €630,495 | +€158,120 | +33.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €451,628 | €609,414 | +€157,786 | +34.9% |
| Distributable reserves | 133 | €451,628 | €609,414 | +€157,786 | +34.9% |
| Profit (loss) carried forward | 14 | €747 | €1,081 | +€334 | +44.7% |
| Amounts payable | 17/49 | €550,215 | €442,714 | -€107,500 | -19.5% |
| Amounts payable after more than one year | 17 | €109,063 | €70,886 | -€38,177 | -35.0% |
| Financial debts | 170/4 | €109,063 | €70,886 | -€38,177 | -35.0% |
| Amounts payable within one year | 42/48 | €441,152 | €371,829 | -€69,323 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €51,154 | €40,631 | -€10,523 | -20.6% |
| Financial debts | 43 | €8,116 | €8,564 | +€448 | +5.5% |
| Credit institutions | 430/8 | €8,116 | €8,564 | +€448 | +5.5% |
| Trade debts | 44 | €325 | €3,164 | +€2,839 | +873% |
| Suppliers | 440/4 | €325 | €3,164 | +€2,839 | +873% |
| Taxes, remuneration and social security | 45 | €38,831 | €51,672 | +€12,841 | +33.1% |
| Taxes | 450/3 | €38,831 | €51,672 | +€12,841 | +33.1% |
| Other amounts payable | 47/48 | €342,726 | €267,798 | -€74,928 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,106 | €26,961 | +€7,854 | +41.1% |
| Other operating charges | 640/8 | €1,030 | €1,044 | +€14 | +1.4% |
| Non-recurring operating charges | 66A | €5,702 | €0 | -€5,702 | -100% |
| Gross operating margin | 9900 | €244,775 | €120,141 | -€124,634 | -50.9% |
| Operating profit (loss) | 9901 | €218,937 | €92,137 | -€126,800 | -57.9% |
| Financial income | 75/76B | €4,116 | €202,922 | +€198,806 | +4,830% |
| Recurring financial income | 75 | €4,116 | €202,922 | +€198,806 | +4,830% |
| Financial charges | 65/66B | €21,121 | €22,923 | +€1,803 | +8.5% |
| Recurring financial charges | 65 | €21,121 | €22,923 | +€1,803 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €201,932 | €272,135 | +€70,203 | +34.8% |
| Income taxes | 67/77 | €64,701 | €41,310 | -€23,391 | -36.2% |
| Profit (loss) for the period | 9904 | €137,230 | €230,825 | +€93,594 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €137,230 | €230,825 | +€93,594 | +68.2% |
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 1 November 2026 via checked.be.