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
- Tangible fixed assets -€29,785
down €29,785 (-6.7%), from €446,917 to €417,132
of which Land and buildings: -€26,221
- Cash -€28,228
down €28,228 (-21.6%), from €130,588 to €102,360
mainly Debts after one year (-€72,664) and Other debts (-€32,126)
- Debts after one year -€72,664
down €72,664 (-23.5%), from €309,323 to €236,659
- Profit (loss) carried forward +€46,332
up €46,332 (+45.8%), from €101,123 to €147,455
- Other debts -€32,126
down €32,126 (-44.1%), from €72,893 to €40,767
- Current portion of long-term debt +€22,383
up €22,383 (+35.9%), from €62,281 to €84,664
- Tax, wage and social debts -€9,820
down €9,820 (-43.8%), from €22,406 to €12,586
of which Remuneration and social security: -€6,352
- Gross operating margin +€42,806
up €42,806 (+33.8%), from €126,729 to €169,535
- Taxes +€7,139
up €7,139 (+98.3%), from €7,263 to €14,402
- Staff costs -€4,960
down €4,960 (-8.4%), from €59,094 to €54,134
- Other operating charges -€2,595
down €2,595 (-31.6%), from €8,204 to €5,609
- Financial charges +€2,527
up €2,527 (+15.1%), from €16,749 to €19,276
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.
Cash bridge derived
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 | €732,024 | €676,578 | -€55,446 | -7.6% |
| Fixed assets | 21/28 | €587,713 | €563,928 | -€23,785 | -4.0% |
| Tangible fixed assets | 22/27 | €446,917 | €417,132 | -€29,785 | -6.7% |
| Land and buildings | 22 | €424,233 | €398,012 | -€26,221 | -6.2% |
| Plant, machinery and equipment | 23 | €15,676 | €13,367 | -€2,309 | -14.7% |
| Furniture and vehicles | 24 | €7,008 | €5,753 | -€1,255 | -17.9% |
| Financial fixed assets | 28 | €140,796 | €146,796 | +€6,000 | +4.3% |
| Current assets | 29/58 | €144,311 | €112,650 | -€31,661 | -21.9% |
| Stocks and contracts in progress | 3 | €11,655 | €9,115 | -€2,540 | -21.8% |
| Stocks | 30/36 | €11,655 | €9,115 | -€2,540 | -21.8% |
| Amounts receivable within one year | 40/41 | €1,256 | €1,175 | -€81 | -6.5% |
| Trade receivables | 40 | €498 | - | -€498 | |
| Other amounts receivable | 41 | €758 | €1,175 | +€417 | +55.0% |
| Cash at bank and in hand | 54/58 | €130,588 | €102,360 | -€28,228 | -21.6% |
| Deferred charges and accrued income | 490/1 | €813 | - | -€813 | |
| Total equity and liabilities | 10/49 | €732,024 | €676,578 | -€55,446 | -7.6% |
| Equity | 10/15 | €217,215 | €263,547 | +€46,332 | +21.3% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €109,092 | €109,092 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €109,092 | €109,092 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €101,123 | €147,455 | +€46,332 | +45.8% |
| Amounts payable | 17/49 | €514,809 | €413,031 | -€101,778 | -19.8% |
| Amounts payable after more than one year | 17 | €309,323 | €236,659 | -€72,664 | -23.5% |
| Financial debts | 170/4 | €309,323 | €236,659 | -€72,664 | -23.5% |
| Amounts payable within one year | 42/48 | €205,345 | €176,372 | -€28,973 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €62,281 | €84,664 | +€22,383 | +35.9% |
| Financial debts | 43 | €1,690 | - | -€1,690 | |
| Other loans | 439 | €1,690 | - | -€1,690 | |
| Trade debts | 44 | €46,076 | €38,355 | -€7,721 | -16.8% |
| Suppliers | 440/4 | €46,076 | €38,355 | -€7,721 | -16.8% |
| Taxes, remuneration and social security | 45 | €22,406 | €12,586 | -€9,820 | -43.8% |
| Taxes | 450/3 | €16,053 | €12,586 | -€3,467 | -21.6% |
| Remuneration and social security | 454/9 | €6,352 | - | -€6,352 | |
| Other amounts payable | 47/48 | €72,893 | €40,767 | -€32,126 | -44.1% |
| Accrued charges and deferred income | 492/3 | €141 | - | -€141 | |
| Non-recurring operating income | 76A | €1,006 | €28,998 | +€27,992 | +2783.3% |
| Remuneration, social security and pensions | 62 | €59,094 | €54,134 | -€4,960 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,829 | €29,785 | -€44 | -0.1% |
| Other operating charges | 640/8 | €8,204 | €5,609 | -€2,595 | -31.6% |
| Gross operating margin | 9900 | €126,729 | €169,535 | +€42,806 | +33.8% |
| Operating profit (loss) | 9901 | €29,603 | €80,007 | +€50,404 | +170.3% |
| Financial income | 75/76B | €1,674 | €3 | -€1,671 | -99.8% |
| Recurring financial income | 75 | €1,674 | €3 | -€1,671 | -99.8% |
| Financial charges | 65/66B | €16,749 | €19,276 | +€2,527 | +15.1% |
| Recurring financial charges | 65 | €16,749 | €19,276 | +€2,527 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €14,528 | €60,734 | +€46,206 | +318.0% |
| Income taxes | 67/77 | €7,263 | €14,402 | +€7,139 | +98.3% |
| Profit (loss) for the period | 9904 | €7,266 | €46,332 | +€39,066 | +537.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,266 | €46,332 | +€39,066 | +537.7% |
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 9 October 2026 via checked.be.