G-K-S: 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-S
Largest movements
- Stocks and contracts +€95,888
up €95,888 (+17.7%), from €540,593 to €636,481
- Tangible fixed assets -€14,217
down €14,217 (-25.8%), from €55,168 to €40,951
of which Furniture and vehicles: -€8,366
- Receivables within one year +€10,819
up €10,819 (+44.1%), from €24,560 to €35,379
of which Trade receivables: +€10,759
- Cash -€8,641
down €8,641 (-23.4%), from €36,913 to €28,272
mainly Stocks and contracts (-€95,888) and Receivables within one year (-€10,819)
- Debts after one year +€29,000
up €29,000 (+7.8%), from €369,625 to €398,625
- Tax, wage and social debts +€20,306
up €20,306 (+796%), from €2,551 to €22,857
of which Remuneration and social security: +€16,251
- Profit (loss) carried forward +€14,139
up €14,139 (+23.0%), from -€61,468 to -€47,329
- Trade debts +€12,398
up €12,398 (+1,969%), from €630 to €13,028
- Other debts +€8,595
up €8,595 (+2.5%), from €344,807 to €353,402
- Gross operating margin +€36,996
up €36,996, from -€6,236 to €30,760
- Depreciation -€5,704
down €5,704 (-28.6%), from €19,920 to €14,217
- Financial income +€398
up €398 (+1,353%), from €29 to €428
of which Non-recurring financial income: +€428
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 | €657,234 | €741,084 | +€83,850 | +12.8% |
| Fixed assets | 21/28 | €55,168 | €40,951 | -€14,217 | -25.8% |
| Tangible fixed assets | 22/27 | €55,168 | €40,951 | -€14,217 | -25.8% |
| Land and buildings | 22 | €34,371 | €28,922 | -€5,449 | -15.9% |
| Plant, machinery and equipment | 23 | €602 | €200 | -€402 | -66.8% |
| Furniture and vehicles | 24 | €20,195 | €11,829 | -€8,366 | -41.4% |
| Current assets | 29/58 | €602,066 | €700,133 | +€98,067 | +16.3% |
| Stocks and contracts in progress | 3 | €540,593 | €636,481 | +€95,888 | +17.7% |
| Stocks | 30/36 | €540,593 | €636,481 | +€95,888 | +17.7% |
| Amounts receivable within one year | 40/41 | €24,560 | €35,379 | +€10,819 | +44.1% |
| Trade receivables | 40 | €23,220 | €33,979 | +€10,759 | +46.3% |
| Other amounts receivable | 41 | €1,340 | €1,400 | +€60 | +4.5% |
| Cash at bank and in hand | 54/58 | €36,913 | €28,272 | -€8,641 | -23.4% |
| Total equity and liabilities | 10/49 | €657,234 | €741,084 | +€83,850 | +12.8% |
| Equity | 10/15 | -€60,968 | -€46,829 | +€14,139 | +23.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,468 | -€47,329 | +€14,139 | +23.0% |
| Amounts payable | 17/49 | €718,202 | €787,913 | +€69,711 | +9.7% |
| Amounts payable after more than one year | 17 | €369,625 | €398,625 | +€29,000 | +7.8% |
| Financial debts | 170/4 | €369,625 | €398,625 | +€29,000 | +7.8% |
| Amounts payable within one year | 42/48 | €348,576 | €389,287 | +€40,711 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €589 | - | -€589 | |
| Trade debts | 44 | €630 | €13,028 | +€12,398 | +1,969% |
| Suppliers | 440/4 | €630 | €13,028 | +€12,398 | +1,969% |
| Taxes, remuneration and social security | 45 | €2,551 | €22,857 | +€20,306 | +796% |
| Taxes | 450/3 | €2,551 | €6,605 | +€4,055 | +159% |
| Remuneration and social security | 454/9 | - | €16,251 | +€16,251 | |
| Other amounts payable | 47/48 | €344,807 | €353,402 | +€8,595 | +2.5% |
| Non-recurring operating income | 76A | €2,481 | €17,500 | +€15,019 | +605% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,920 | €14,217 | -€5,704 | -28.6% |
| Other operating charges | 640/8 | €2,749 | €2,572 | -€177 | -6.4% |
| Non-recurring operating charges | 66A | €117 | - | -€117 | |
| Gross operating margin | 9900 | -€6,236 | €30,760 | +€36,996 | |
| Operating profit (loss) | 9901 | -€29,023 | €13,971 | +€42,994 | |
| Financial income | 75/76B | €29 | €428 | +€398 | +1,353% |
| Recurring financial income | 75 | €29 | €428 | +€398 | +1,353% |
| Non-recurring financial income | 76B | - | €428 | +€428 | |
| Financial charges | 65/66B | €352 | €259 | -€93 | -26.4% |
| Recurring financial charges | 65 | €352 | €259 | -€93 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | -€29,346 | €14,139 | +€43,485 | |
| Income taxes | 67/77 | €60 | - | -€60 | |
| Profit (loss) for the period | 9904 | -€29,406 | €14,139 | +€43,545 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,406 | €14,139 | +€43,545 |
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 29 October 2026 via checked.be.