G & H: 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 & H
Largest movements
- Receivables within one year -€100,198
down €100,198 (-16.0%), from €625,157 to €524,959
of which Trade receivables: -€82,360
- Cash +€45,464
up €45,464 (+10.6%), from €427,014 to €472,478
mainly Receivables within one year (+€100,198) and Net result for the year (+€66,297)
- Trade debts -€121,031
down €121,031 (-45.8%), from €264,220 to €143,189
- Profit (loss) carried forward +€66,297
up €66,297 (+8.6%), from €767,491 to €833,788
- Gross operating margin +€36,980
up €36,980 (+91.6%), from €40,383 to €77,362
- Write-downs -€16,043
down €16,043, from €15,726 to -€317
- Financial charges -€9,005
down €9,005 (-46.3%), from €19,462 to €10,457
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 | €1,052,171 | €997,436 | -€54,735 | -5.2% |
| Current assets | 29/58 | €1,052,171 | €997,436 | -€54,735 | -5.2% |
| Amounts receivable within one year | 40/41 | €625,157 | €524,959 | -€100,198 | -16.0% |
| Trade receivables | 40 | €417,468 | €335,108 | -€82,360 | -19.7% |
| Other amounts receivable | 41 | €207,689 | €189,851 | -€17,838 | -8.6% |
| Cash at bank and in hand | 54/58 | €427,014 | €472,478 | +€45,464 | +10.6% |
| Total equity and liabilities | 10/49 | €1,052,171 | €997,436 | -€54,735 | -5.2% |
| Equity | 10/15 | €787,951 | €854,248 | +€66,297 | +8.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €767,491 | €833,788 | +€66,297 | +8.6% |
| Amounts payable | 17/49 | €264,220 | €143,189 | -€121,031 | -45.8% |
| Amounts payable within one year | 42/48 | €264,220 | €143,189 | -€121,031 | -45.8% |
| Trade debts | 44 | €264,220 | €143,189 | -€121,031 | -45.8% |
| Suppliers | 440/4 | €264,220 | €143,189 | -€121,031 | -45.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,726 | -€317 | -€16,043 | |
| Other operating charges | 640/8 | €733 | €930 | +€196 | +26.8% |
| Gross operating margin | 9900 | €40,383 | €77,362 | +€36,980 | +91.6% |
| Operating profit (loss) | 9901 | €23,923 | €76,749 | +€52,826 | +221% |
| Financial income | 75/76B | €13 | €1 | -€13 | -96.2% |
| Recurring financial income | 75 | €13 | €1 | -€13 | -96.2% |
| Financial charges | 65/66B | €19,462 | €10,457 | -€9,005 | -46.3% |
| Recurring financial charges | 65 | €19,462 | €10,457 | -€9,005 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €4,475 | €66,293 | +€61,818 | +1,381% |
| Income taxes | 67/77 | €4 | -€4 | -€8 | |
| Profit (loss) for the period | 9904 | €4,471 | €66,297 | +€61,826 | +1,383% |
| Profit (loss) for the period to be appropriated | 9905 | €4,471 | €66,297 | +€61,826 | +1,383% |
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 17 October 2026 via checked.be.