G.S. Ecotech: 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. Ecotech
Largest movements
- Receivables within one year -€16,667
down €16,667 (-25.1%), from €66,522 to €49,856
of which Other amounts receivable: -€12,645
- Stocks and contracts -€9,549
down €9,549 (-31.8%), from €30,074 to €20,525
- Cash +€8,825
up €8,825 (+41.5%), from €21,252 to €30,077
mainly Depreciation (+€28,282) and Net result for the year (+€26,058)
- Tangible fixed assets +€8,815
up €8,815 (+2.9%), from €303,865 to €312,680
of which Furniture and vehicles: +€31,649
- Other debts -€31,701
down €31,701 (-58.5%), from €54,161 to €22,460
- Reserves +€26,058
up €26,058 (+15.4%), from €169,656 to €195,714
of which Distributable reserves: +€26,058
- Tax, wage and social debts +€15,373
up €15,373 (+184%), from €8,339 to €23,712
of which Taxes: +€15,416
- Trade debts -€13,298
down €13,298 (-47.1%), from €28,207 to €14,909
- Current portion of long-term debt +€5,781
up €5,781 (+26.3%), from €21,944 to €27,725
- Gross operating margin -€5,112
down €5,112 (-5.2%), from €98,153 to €93,041
- Staff costs +€4,666
up €4,666 (+34.5%), from €13,538 to €18,204
- Depreciation +€3,918
up €3,918 (+16.1%), from €24,364 to €28,282
- Other operating charges -€3,273
down €3,273 (-47.0%), from €6,965 to €3,692
- Taxes -€2,374
down €2,374 (-17.5%), from €13,563 to €11,189
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 | €429,670 | €423,032 | -€6,638 | -1.5% |
| Fixed assets | 21/28 | €303,891 | €312,706 | +€8,815 | +2.9% |
| Tangible fixed assets | 22/27 | €303,865 | €312,680 | +€8,815 | +2.9% |
| Land and buildings | 22 | €297,948 | €276,808 | -€21,140 | -7.1% |
| Plant, machinery and equipment | 23 | €4,958 | €3,264 | -€1,694 | -34.2% |
| Furniture and vehicles | 24 | €958 | €32,608 | +€31,649 | +3,303% |
| Financial fixed assets | 28 | €27 | €27 | = | 0.0% |
| Current assets | 29/58 | €125,779 | €110,326 | -€15,453 | -12.3% |
| Stocks and contracts in progress | 3 | €30,074 | €20,525 | -€9,549 | -31.8% |
| Stocks | 30/36 | €30,074 | €20,525 | -€9,549 | -31.8% |
| Amounts receivable within one year | 40/41 | €66,522 | €49,856 | -€16,667 | -25.1% |
| Trade receivables | 40 | €52,302 | €48,280 | -€4,022 | -7.7% |
| Other amounts receivable | 41 | €14,220 | €1,575 | -€12,645 | -88.9% |
| Cash at bank and in hand | 54/58 | €21,252 | €30,077 | +€8,825 | +41.5% |
| Deferred charges and accrued income | 490/1 | €7,932 | €9,869 | +€1,937 | +24.4% |
| Total equity and liabilities | 10/49 | €429,670 | €423,032 | -€6,638 | -1.5% |
| Equity | 10/15 | €214,396 | €236,980 | +€22,584 | +10.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €169,656 | €195,714 | +€26,058 | +15.4% |
| 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 | €167,796 | €193,854 | +€26,058 | +15.5% |
| Investment grants | 15 | €34,740 | €31,266 | -€3,474 | -10.0% |
| Amounts payable | 17/49 | €215,275 | €186,052 | -€29,223 | -13.6% |
| Amounts payable after more than one year | 17 | €76,166 | €73,059 | -€3,107 | -4.1% |
| Financial debts | 170/4 | €76,166 | €73,059 | -€3,107 | -4.1% |
| Amounts payable within one year | 42/48 | €139,108 | €112,993 | -€26,115 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €21,944 | €27,725 | +€5,781 | +26.3% |
| Financial debts | 43 | €26,457 | €24,187 | -€2,270 | -8.6% |
| Credit institutions | 430/8 | €26,457 | €24,187 | -€2,270 | -8.6% |
| Trade debts | 44 | €28,207 | €14,909 | -€13,298 | -47.1% |
| Suppliers | 440/4 | €28,207 | €14,909 | -€13,298 | -47.1% |
| Taxes, remuneration and social security | 45 | €8,339 | €23,712 | +€15,373 | +184% |
| Taxes | 450/3 | €7,910 | €23,325 | +€15,416 | +195% |
| Remuneration and social security | 454/9 | €430 | €387 | -€43 | -10.0% |
| Other amounts payable | 47/48 | €54,161 | €22,460 | -€31,701 | -58.5% |
| Non-recurring operating income | 76A | €1,500 | - | -€1,500 | |
| Remuneration, social security and pensions | 62 | €13,538 | €18,204 | +€4,666 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,364 | €28,282 | +€3,918 | +16.1% |
| Other operating charges | 640/8 | €6,965 | €3,692 | -€3,273 | -47.0% |
| Gross operating margin | 9900 | €98,153 | €93,041 | -€5,112 | -5.2% |
| Operating profit (loss) | 9901 | €53,286 | €42,863 | -€10,422 | -19.6% |
| Financial income | 75/76B | €3,525 | €3,967 | +€443 | +12.6% |
| Recurring financial income | 75 | €3,525 | €3,967 | +€443 | +12.6% |
| Financial charges | 65/66B | €8,415 | €9,583 | +€1,168 | +13.9% |
| Recurring financial charges | 65 | €8,415 | €9,583 | +€1,168 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €48,396 | €37,248 | -€11,148 | -23.0% |
| Income taxes | 67/77 | €13,563 | €11,189 | -€2,374 | -17.5% |
| Profit (loss) for the period | 9904 | €34,833 | €26,058 | -€8,774 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,833 | €26,058 | -€8,774 | -25.2% |
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 25 October 2026 via checked.be.