G&K: what changed
Two fiscal 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&K
Largest movements
- Tangible fixed assets -€473,864
down €473,864 (-10.4%), from €4.6m to €4.1m
of which Land and buildings: -€414,314
- Financial fixed assets +€276,147
up €276,147 (+32.7%), from €843,724 to €1.1m
- Debts after one year -€490,845
down €490,845 (-18.4%), from €2.7m to €2.2m
- Short-term financial debts +€135,291
up €135,291 (+11.6%), from €1.2m to €1.3m
- Reserves +€123,189
up €123,189 (+9.2%), from €1.3m to €1.5m
of which Distributable reserves: +€123,189
- Current portion of long-term debt -€86,742
down €86,742 (-18.0%), from €482,451 to €395,709
- Gross operating margin -€117,282
down €117,282 (-16.4%), from €715,253 to €597,972
- Depreciation -€27,419
down €27,419 (-8.8%), from €311,022 to €283,603
- Financial charges +€26,545
up €26,545 (+34.5%), from €76,945 to €103,490
- Taxes -€23,317
down €23,317 (-35.7%), from €65,398 to €42,082
- Financial income +€21,564
up €21,564 (+470.5%), from €4,583 to €26,147
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,828,881 | €5,538,904 | -€289,977 | -5.0% |
| Fixed assets | 21/28 | €5,407,272 | €5,209,555 | -€197,717 | -3.7% |
| Tangible fixed assets | 22/27 | €4,563,549 | €4,089,684 | -€473,864 | -10.4% |
| Land and buildings | 22 | €4,277,225 | €3,862,911 | -€414,314 | -9.7% |
| Plant, machinery and equipment | 23 | €5,493 | €2,483 | -€3,010 | -54.8% |
| Furniture and vehicles | 24 | €922 | €0 | -€922 | -100.0% |
| Leasing and similar rights | 25 | €174,075 | €142,425 | -€31,650 | -18.2% |
| Other tangible fixed assets | 26 | €105,833 | €81,866 | -€23,968 | -22.6% |
| Financial fixed assets | 28 | €843,724 | €1,119,871 | +€276,147 | +32.7% |
| Current assets | 29/58 | €421,608 | €329,349 | -€92,260 | -21.9% |
| Stocks and contracts in progress | 3 | €26,108 | €26,108 | = | 0.0% |
| Stocks | 30/36 | €26,108 | €26,108 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €191,066 | €188,835 | -€2,231 | -1.2% |
| Trade receivables | 40 | €39,053 | €37,084 | -€1,969 | -5.0% |
| Other amounts receivable | 41 | €152,013 | €151,751 | -€262 | -0.2% |
| Cash at bank and in hand | 54/58 | €121,007 | €67,219 | -€53,788 | -44.5% |
| Deferred charges and accrued income | 490/1 | €83,428 | €47,187 | -€36,240 | -43.4% |
| Total equity and liabilities | 10/49 | €5,828,881 | €5,538,904 | -€289,977 | -5.0% |
| Equity | 10/15 | €1,402,429 | €1,525,618 | +€123,189 | +8.8% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,339,929 | €1,463,118 | +€123,189 | +9.2% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €1,333,679 | €1,456,868 | +€123,189 | +9.2% |
| Amounts payable | 17/49 | €4,426,452 | €4,013,286 | -€413,166 | -9.3% |
| Amounts payable after more than one year | 17 | €2,661,667 | €2,170,822 | -€490,845 | -18.4% |
| Financial debts | 170/4 | €2,661,667 | €2,170,822 | -€490,845 | -18.4% |
| Amounts payable within one year | 42/48 | €1,755,785 | €1,842,464 | +€86,680 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €482,451 | €395,709 | -€86,742 | -18.0% |
| Financial debts | 43 | €1,164,709 | €1,300,000 | +€135,291 | +11.6% |
| Credit institutions | 430/8 | €1,164,709 | €1,300,000 | +€135,291 | +11.6% |
| Trade debts | 44 | €25,928 | €50,495 | +€24,567 | +94.7% |
| Suppliers | 440/4 | €25,928 | €50,495 | +€24,567 | +94.7% |
| Taxes, remuneration and social security | 45 | €13,247 | €28,660 | +€15,414 | +116.4% |
| Taxes | 450/3 | €13,247 | €28,660 | +€15,414 | +116.4% |
| Other amounts payable | 47/48 | €69,450 | €67,600 | -€1,850 | -2.7% |
| Accrued charges and deferred income | 492/3 | €9,000 | €0 | -€9,000 | -100.0% |
| Non-recurring operating income | 76A | €690 | €24,739 | +€24,048 | +3484.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €311,022 | €283,603 | -€27,419 | -8.8% |
| Other operating charges | 640/8 | €70,276 | €71,756 | +€1,480 | +2.1% |
| Gross operating margin | 9900 | €715,253 | €597,972 | -€117,282 | -16.4% |
| Operating profit (loss) | 9901 | €333,956 | €242,613 | -€91,343 | -27.4% |
| Financial income | 75/76B | €4,583 | €26,147 | +€21,564 | +470.5% |
| Recurring financial income | 75 | €4,583 | €26,147 | +€21,564 | +470.5% |
| Financial charges | 65/66B | €76,945 | €103,490 | +€26,545 | +34.5% |
| Recurring financial charges | 65 | €76,945 | €103,490 | +€26,545 | +34.5% |
| Profit (loss) for the period before taxes | 9903 | €261,594 | €165,270 | -€96,323 | -36.8% |
| Income taxes | 67/77 | €65,398 | €42,082 | -€23,317 | -35.7% |
| Profit (loss) for the period | 9904 | €196,195 | €123,189 | -€73,006 | -37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €196,195 | €123,189 | -€73,006 | -37.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.