''G.S.I. engineering'': 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.I. engineering''
Largest movements
- Receivables within one year -€100,445
down €100,445 (-31.2%), from €321,816 to €221,370
of which Trade receivables: -€79,445
- Cash +€28,553
up €28,553 (+47.7%), from €59,853 to €88,405
mainly Receivables within one year (+€100,445) and Net result for the year (+€99,025)
- Tangible fixed assets +€20,212
up €20,212 (+4.2%), from €483,658 to €503,870
of which Plant, machinery and equipment: +€19,163
- Trade debts -€124,328
down €124,328 (-81.5%), from €152,483 to €28,155
- Other debts +€67,612
up €67,612 (+28.5%), from €237,050 to €304,662
- Gross operating margin -€113,116
down €113,116 (-18.7%), from €605,441 to €492,325
- Staff costs -€107,932
down €107,932 (-26.4%), from €408,307 to €300,375
- Taxes -€19,167
down €19,167 (-32.9%), from €58,294 to €39,126
- Write-downs -€9,492
down €9,492 (-67.1%), from €14,138 to €4,646
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 | €874,618 | €818,292 | -€56,326 | -6.4% |
| Fixed assets | 21/28 | €483,658 | €503,870 | +€20,212 | +4.2% |
| Tangible fixed assets | 22/27 | €483,658 | €503,870 | +€20,212 | +4.2% |
| Land and buildings | 22 | €421,690 | €428,860 | +€7,170 | +1.7% |
| Plant, machinery and equipment | 23 | €43,826 | €62,989 | +€19,163 | +43.7% |
| Furniture and vehicles | 24 | €18,141 | €12,021 | -€6,120 | -33.7% |
| Current assets | 29/58 | €390,960 | €314,421 | -€76,538 | -19.6% |
| Stocks and contracts in progress | 3 | €9,291 | €4,646 | -€4,646 | -50.0% |
| Stocks | 30/36 | €9,291 | €4,646 | -€4,646 | -50.0% |
| Amounts receivable within one year | 40/41 | €321,816 | €221,370 | -€100,445 | -31.2% |
| Trade receivables | 40 | €217,816 | €138,370 | -€79,445 | -36.5% |
| Other amounts receivable | 41 | €104,000 | €83,000 | -€21,000 | -20.2% |
| Cash at bank and in hand | 54/58 | €59,853 | €88,405 | +€28,553 | +47.7% |
| Total equity and liabilities | 10/49 | €874,618 | €818,292 | -€56,326 | -6.4% |
| Equity | 10/15 | €23,355 | €22,380 | -€975 | -4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,895 | €1,920 | -€975 | -33.7% |
| Amounts payable | 17/49 | €851,263 | €795,912 | -€55,351 | -6.5% |
| Amounts payable after more than one year | 17 | €306,997 | €299,132 | -€7,865 | -2.6% |
| Financial debts | 170/4 | €306,997 | €299,132 | -€7,865 | -2.6% |
| Amounts payable within one year | 42/48 | €544,266 | €496,780 | -€47,486 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €42,124 | €48,472 | +€6,348 | +15.1% |
| Trade debts | 44 | €152,483 | €28,155 | -€124,328 | -81.5% |
| Suppliers | 440/4 | €152,483 | €28,155 | -€124,328 | -81.5% |
| Taxes, remuneration and social security | 45 | €112,608 | €115,491 | +€2,883 | +2.6% |
| Taxes | 450/3 | €82,285 | €70,325 | -€11,959 | -14.5% |
| Remuneration and social security | 454/9 | €30,324 | €45,166 | +€14,842 | +48.9% |
| Other amounts payable | 47/48 | €237,050 | €304,662 | +€67,612 | +28.5% |
| Remuneration, social security and pensions | 62 | €408,307 | €300,375 | -€107,932 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,881 | €30,222 | +€342 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,138 | €4,646 | -€9,492 | -67.1% |
| Other operating charges | 640/8 | €8,622 | €13,864 | +€5,242 | +60.8% |
| Gross operating margin | 9900 | €605,441 | €492,325 | -€113,116 | -18.7% |
| Operating profit (loss) | 9901 | €144,494 | €143,219 | -€1,275 | -0.9% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €6,094 | €5,068 | -€1,026 | -16.8% |
| Recurring financial charges | 65 | €6,094 | €5,068 | -€1,026 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €138,400 | €138,151 | -€249 | -0.2% |
| Income taxes | 67/77 | €58,294 | €39,126 | -€19,167 | -32.9% |
| Profit (loss) for the period | 9904 | €80,106 | €99,025 | +€18,918 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,106 | €99,025 | +€18,918 | +23.6% |
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 14 October 2026 via checked.be.