G.O. 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.O. MANAGEMENT
Largest movements
- Receivables within one year -€48,572
down €48,572 (-98.5%), from €49,326 to €755
of which Trade receivables: -€30,519
- Cash +€22,341
up €22,341 (+5.9%), from €380,563 to €402,904
mainly Receivables within one year (+€48,572) and Depreciation (+€13,070)
- Tangible fixed assets -€11,500
down €11,500 (-26.3%), from €43,793 to €32,293
of which Furniture and vehicles: -€12,696
- Other debts -€32,818
down €32,818 (-99.1%), from €33,101 to €283
- Reserves +€10,554
up €10,554 (+2.4%), from €447,203 to €457,757
of which Distributable reserves: +€10,554
- Tax, wage and social debts -€8,734
down €8,734 (-47.0%), from €18,586 to €9,853
of which Taxes: -€5,622
- Gross operating margin +€7,815
up €7,815 (+32.3%), from €24,234 to €32,049
- Depreciation +€4,318
up €4,318 (+49.3%), from €8,752 to €13,070
- Financial income -€3,166
down €3,166 (-100%), from €3,166 to €0
- Other operating charges -€900
down €900 (-36.6%), from €2,457 to €1,557
- Taxes -€610
down €610 (-8.3%), from €7,351 to €6,742
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,081 | €474,413 | -€37,668 | -7.4% |
| Fixed assets | 21/28 | €81,793 | €70,293 | -€11,500 | -14.1% |
| Tangible fixed assets | 22/27 | €43,793 | €32,293 | -€11,500 | -26.3% |
| Furniture and vehicles | 24 | €41,792 | €29,096 | -€12,696 | -30.4% |
| Other tangible fixed assets | 26 | €2,001 | €3,198 | +€1,196 | +59.8% |
| Financial fixed assets | 28 | €38,000 | €38,000 | = | 0.0% |
| Current assets | 29/58 | €430,288 | €404,120 | -€26,168 | -6.1% |
| Amounts receivable within one year | 40/41 | €49,326 | €755 | -€48,572 | -98.5% |
| Trade receivables | 40 | €30,519 | €0 | -€30,519 | -100% |
| Other amounts receivable | 41 | €18,808 | €755 | -€18,053 | -96.0% |
| Cash at bank and in hand | 54/58 | €380,563 | €402,904 | +€22,341 | +5.9% |
| Deferred charges and accrued income | 490/1 | €398 | €461 | +€62 | +15.7% |
| Total equity and liabilities | 10/49 | €512,081 | €474,413 | -€37,668 | -7.4% |
| Equity | 10/15 | €453,403 | €463,957 | +€10,554 | +2.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €447,203 | €457,757 | +€10,554 | +2.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €445,343 | €455,897 | +€10,554 | +2.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €58,679 | €10,457 | -€48,222 | -82.2% |
| Amounts payable within one year | 42/48 | €56,987 | €10,457 | -€46,530 | -81.7% |
| Trade debts | 44 | €5,300 | €321 | -€4,979 | -93.9% |
| Suppliers | 440/4 | €5,300 | €321 | -€4,979 | -93.9% |
| Taxes, remuneration and social security | 45 | €18,586 | €9,853 | -€8,734 | -47.0% |
| Taxes | 450/3 | €15,475 | €9,853 | -€5,622 | -36.3% |
| Remuneration and social security | 454/9 | €3,111 | €0 | -€3,111 | -100% |
| Other amounts payable | 47/48 | €33,101 | €283 | -€32,818 | -99.1% |
| Accrued charges and deferred income | 492/3 | €1,692 | €0 | -€1,692 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,752 | €13,070 | +€4,318 | +49.3% |
| Other operating charges | 640/8 | €2,457 | €1,557 | -€900 | -36.6% |
| Gross operating margin | 9900 | €24,234 | €32,049 | +€7,815 | +32.3% |
| Operating profit (loss) | 9901 | €13,025 | €17,422 | +€4,398 | +33.8% |
| Financial income | 75/76B | €3,166 | €0 | -€3,166 | -100% |
| Recurring financial income | 75 | €3,166 | €0 | -€3,166 | -100% |
| Financial charges | 65/66B | €125 | €127 | +€1 | +1.1% |
| Recurring financial charges | 65 | €125 | €127 | +€1 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €16,065 | €17,296 | +€1,231 | +7.7% |
| Income taxes | 67/77 | €7,351 | €6,742 | -€610 | -8.3% |
| Profit (loss) for the period | 9904 | €8,714 | €10,554 | +€1,840 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,714 | €10,554 | +€1,840 | +21.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.