G&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&S
Largest movements
- Financial fixed assets +€914,000
up €914,000 (+127%), from €720,900 to €1.6m
- Receivables within one year +€199,056
up €199,056 (+590%), from €33,729 to €232,786
of which Other amounts receivable: +€197,930
- Revaluation surpluses +€914,000
new in 2025: €914,000
- Other debts +€358,812
up €358,812 (+1,196%), from €30,000 to €388,812
- Reserves -€151,934
down €151,934 (-27.4%), from €555,447 to €403,512
of which Distributable reserves: -€151,934
- Debts after one year +€106,706
up €106,706 (+64.6%), from €165,168 to €271,875
- Short-term financial debts -€52,477
down €52,477 (-58.9%), from €89,039 to €36,562
of which Other loans: -€62,645
- Financial income -€167,503
down €167,503 (-100%), from €167,503 to €0
- Taxes -€11,613
down €11,613 (-52.3%), from €22,191 to €10,578
- Financial charges +€3,930
up €3,930 (+35.3%), from €11,128 to €15,058
- Depreciation -€3,309
down €3,309 (-18.1%), from €18,236 to €14,927
- Other operating charges +€1,000
up €1,000 (+794%), from €126 to €1,126
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 | €1,032,839 | €2,130,699 | +€1.1m | +106% |
| Fixed assets | 21/28 | €822,386 | €1,722,913 | +€900,527 | +110% |
| Tangible fixed assets | 22/27 | €101,486 | €88,013 | -€13,473 | -13.3% |
| Plant, machinery and equipment | 23 | €101,486 | €88,013 | -€13,473 | -13.3% |
| Financial fixed assets | 28 | €720,900 | €1,634,900 | +€914,000 | +127% |
| Current assets | 29/58 | €210,453 | €407,786 | +€197,333 | +93.8% |
| Amounts receivable after more than one year | 29 | €175,000 | €175,000 | = | 0.0% |
| Other amounts receivable | 291 | €175,000 | €175,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,729 | €232,786 | +€199,056 | +590% |
| Trade receivables | 40 | €31,954 | €33,080 | +€1,126 | +3.5% |
| Other amounts receivable | 41 | €1,775 | €199,705 | +€197,930 | +11,151% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €1,724 | €0 | -€1,724 | -100% |
| Total equity and liabilities | 10/49 | €1,032,839 | €2,130,699 | +€1.1m | +106% |
| Equity | 10/15 | €555,447 | €1,317,512 | +€762,066 | +137% |
| Contributions | 10/11 | €0 | - | = | |
| Revaluation surpluses | 12 | - | €914,000 | +€914,000 | |
| Reserves | 13 | €555,447 | €403,512 | -€151,934 | -27.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €555,447 | €403,512 | -€151,934 | -27.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €477,392 | €813,186 | +€335,794 | +70.3% |
| Amounts payable after more than one year | 17 | €165,168 | €271,875 | +€106,706 | +64.6% |
| Financial debts | 170/4 | €165,168 | €271,875 | +€106,706 | +64.6% |
| Amounts payable within one year | 42/48 | €312,224 | €541,312 | +€229,088 | +73.4% |
| Current portion of amounts payable after more than one year | 42 | €116,048 | €88,785 | -€27,263 | -23.5% |
| Financial debts | 43 | €89,039 | €36,562 | -€52,477 | -58.9% |
| Credit institutions | 430/8 | €24,039 | €34,207 | +€10,168 | +42.3% |
| Other loans | 439 | €65,000 | €2,355 | -€62,645 | -96.4% |
| Trade debts | 44 | €9,276 | €2,128 | -€7,148 | -77.1% |
| Suppliers | 440/4 | €9,276 | €2,128 | -€7,148 | -77.1% |
| Taxes, remuneration and social security | 45 | €67,861 | €25,024 | -€42,837 | -63.1% |
| Taxes | 450/3 | €67,861 | €25,024 | -€42,837 | -63.1% |
| Other amounts payable | 47/48 | €30,000 | €388,812 | +€358,812 | +1,196% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,236 | €14,927 | -€3,309 | -18.1% |
| Other operating charges | 640/8 | €126 | €1,126 | +€1,000 | +794% |
| Gross operating margin | 9900 | €81,625 | €81,176 | -€449 | -0.5% |
| Operating profit (loss) | 9901 | €63,263 | €65,122 | +€1,859 | +2.9% |
| Financial income | 75/76B | €167,503 | €0 | -€167,503 | -100% |
| Recurring financial income | 75 | €167,503 | €0 | -€167,503 | -100% |
| Financial charges | 65/66B | €11,128 | €15,058 | +€3,930 | +35.3% |
| Recurring financial charges | 65 | €11,128 | €15,058 | +€3,930 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €219,638 | €50,064 | -€169,574 | -77.2% |
| Income taxes | 67/77 | €22,191 | €10,578 | -€11,613 | -52.3% |
| Profit (loss) for the period | 9904 | €197,448 | €39,486 | -€157,961 | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €197,448 | €39,486 | -€157,961 | -80.0% |
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 19 October 2026 via checked.be.