G.K. MANAGEMENT: 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.K. MANAGEMENT
Largest movements
- Financial fixed assets +€249,534
up €249,534 (+31,192%), from €800 to €250,334
- Cash +€61,728
up €61,728 (+196%), from €31,561 to €93,289
mainly Other debts (+€215,775) and Receivables within one year (+€55,003)
- Receivables within one year -€55,003
down €55,003 (-80.8%), from €68,051 to €13,049
of which Trade receivables: -€27,941
- Current investments -€31,608
down €31,608 (-21.6%), from €146,129 to €114,521
- Other debts +€215,775
up €215,775 (+15,600%), from €1,383 to €217,159
- Reserves +€14,972
up €14,972 (+6.7%), from €222,095 to €237,067
- Tax, wage and social debts -€6,358
down €6,358 (-68.8%), from €9,246 to €2,889
- Gross operating margin -€50,343
down €50,343 (-65.4%), from €77,001 to €26,657
- Taxes -€17,083
down €17,083 (-60.7%), from €28,142 to €11,059
- Financial income -€11,770
down €11,770 (-40.6%), from €28,979 to €17,210
- Financial charges +€5,336
up €5,336, from -€5,283 to €53
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 | €248,493 | €472,861 | +€224,368 | +90.3% |
| Fixed assets | 21/28 | €2,251 | €251,397 | +€249,146 | +11,067% |
| Tangible fixed assets | 22/27 | €1,451 | €1,063 | -€389 | -26.8% |
| Furniture and vehicles | 24 | €1,451 | €1,063 | -€389 | -26.8% |
| Financial fixed assets | 28 | €800 | €250,334 | +€249,534 | +31,192% |
| Current assets | 29/58 | €246,241 | €221,464 | -€24,777 | -10.1% |
| Amounts receivable after more than one year | 29 | €500 | €500 | = | 0.0% |
| Other amounts receivable | 291 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €68,051 | €13,049 | -€55,003 | -80.8% |
| Trade receivables | 40 | €39,251 | €11,310 | -€27,941 | -71.2% |
| Other amounts receivable | 41 | €28,800 | €1,738 | -€27,062 | -94.0% |
| Current investments | 50/53 | €146,129 | €114,521 | -€31,608 | -21.6% |
| Cash at bank and in hand | 54/58 | €31,561 | €93,289 | +€61,728 | +196% |
| Deferred charges and accrued income | 490/1 | - | €105 | +€105 | |
| Total equity and liabilities | 10/49 | €248,493 | €472,861 | +€224,368 | +90.3% |
| Equity | 10/15 | €235,994 | €250,966 | +€14,972 | +6.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €222,095 | €237,067 | +€14,972 | +6.7% |
| Distributable reserves | 133 | €222,095 | €237,067 | +€14,972 | +6.7% |
| Profit (loss) carried forward | 14 | €7,701 | €7,701 | = | 0.0% |
| Amounts payable | 17/49 | €12,499 | €221,895 | +€209,396 | +1,675% |
| Amounts payable within one year | 42/48 | €12,499 | €221,895 | +€209,396 | +1,675% |
| Trade debts | 44 | €1,869 | €1,848 | -€21 | -1.1% |
| Suppliers | 440/4 | €1,869 | €1,848 | -€21 | -1.1% |
| Taxes, remuneration and social security | 45 | €9,246 | €2,889 | -€6,358 | -68.8% |
| Taxes | 450/3 | €9,246 | €2,889 | -€6,358 | -68.8% |
| Other amounts payable | 47/48 | €1,383 | €217,159 | +€215,775 | +15,600% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €389 | €389 | +€0 | 0.0% |
| Other operating charges | 640/8 | €64 | €45 | -€19 | -30.1% |
| Gross operating margin | 9900 | €77,001 | €26,657 | -€50,343 | -65.4% |
| Operating profit (loss) | 9901 | €76,548 | €26,224 | -€50,324 | -65.7% |
| Financial income | 75/76B | €28,979 | €17,210 | -€11,770 | -40.6% |
| Recurring financial income | 75 | €28,979 | €17,210 | -€11,770 | -40.6% |
| Financial charges | 65/66B | -€5,283 | €53 | +€5,336 | |
| Recurring financial charges | 65 | -€5,283 | €53 | +€5,336 | |
| Profit (loss) for the period before taxes | 9903 | €110,810 | €43,381 | -€67,430 | -60.9% |
| Income taxes | 67/77 | €28,142 | €11,059 | -€17,083 | -60.7% |
| Profit (loss) for the period | 9904 | €82,668 | €32,321 | -€50,347 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €82,668 | €32,321 | -€50,347 | -60.9% |
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.