G-Solution: what changed
Two fiscal 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-Solution
Largest movements
- Receivables within one year +€125,458
up €125,458 (+58.5%), from €214,559 to €340,017
of which Trade receivables: +€114,467
- Stocks and contracts +€58,691
up €58,691 (+50.1%), from €117,226 to €175,918
- Cash -€19,157
down €19,157 (-43.0%), from €44,571 to €25,414
mainly Receivables within one year (-€125,458) and Stocks and contracts (-€58,691)
- Reserves +€60,653
up €60,653 (+30.6%), from €198,411 to €259,064
- Trade debts +€47,599
up €47,599 (+198.9%), from €23,934 to €71,533
- Debts after one year +€40,593
new in 2025: €40,593
- Current portion of long-term debt +€24,469
new in 2025: €24,469
- Other debts -€5,769
no longer reported in 2025 (was €5,769)
- Gross operating margin -€47,846
down €47,846 (-28.3%), from €169,030 to €121,184
- Taxes -€22,602
down €22,602 (-47.4%), from €47,690 to €25,088
- Staff costs +€19,140
new in 2025: €19,140
- Other operating charges -€3,013
down €3,013 (-46.6%), from €6,467 to €3,454
- Financial charges +€2,469
up €2,469 (+204.9%), from €1,205 to €3,674
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.
Cash bridge derived
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 | €377,473 | €544,962 | +€167,489 | +44.4% |
| Formation expenses | 20 | €1,116 | €577 | -€540 | -48.3% |
| Current assets | 29/58 | €376,357 | €544,386 | +€168,029 | +44.6% |
| Stocks and contracts in progress | 3 | €117,226 | €175,918 | +€58,691 | +50.1% |
| Stocks | 30/36 | €117,226 | €175,918 | +€58,691 | +50.1% |
| Amounts receivable within one year | 40/41 | €214,559 | €340,017 | +€125,458 | +58.5% |
| Trade receivables | 40 | €192,559 | €307,026 | +€114,467 | +59.4% |
| Other amounts receivable | 41 | €22,000 | €32,991 | +€10,991 | +50.0% |
| Cash at bank and in hand | 54/58 | €44,571 | €25,414 | -€19,157 | -43.0% |
| Deferred charges and accrued income | 490/1 | - | €3,037 | +€3,037 | |
| Total equity and liabilities | 10/49 | €377,473 | €544,962 | +€167,489 | +44.4% |
| Equity | 10/15 | €248,411 | €309,064 | +€60,653 | +24.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €198,411 | €259,064 | +€60,653 | +30.6% |
| Distributable reserves | 133 | €198,411 | €259,064 | +€60,653 | +30.6% |
| Amounts payable | 17/49 | €129,061 | €235,898 | +€106,837 | +82.8% |
| Amounts payable after more than one year | 17 | - | €40,593 | +€40,593 | |
| Financial debts | 170/4 | - | €40,593 | +€40,593 | |
| Amounts payable within one year | 42/48 | €129,049 | €195,293 | +€66,244 | +51.3% |
| Current portion of amounts payable after more than one year | 42 | - | €24,469 | +€24,469 | |
| Trade debts | 44 | €23,934 | €71,533 | +€47,599 | +198.9% |
| Suppliers | 440/4 | €23,934 | €71,533 | +€47,599 | +198.9% |
| Taxes, remuneration and social security | 45 | €99,346 | €99,291 | -€55 | -0.1% |
| Taxes | 450/3 | €99,346 | €99,291 | -€55 | -0.1% |
| Other amounts payable | 47/48 | €5,769 | - | -€5,769 | |
| Accrued charges and deferred income | 492/3 | €13 | €13 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €19,140 | +€19,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €540 | €540 | = | 0.0% |
| Other operating charges | 640/8 | €6,467 | €3,454 | -€3,013 | -46.6% |
| Non-recurring operating charges | 66A | - | €9,000 | +€9,000 | |
| Gross operating margin | 9900 | €169,030 | €121,184 | -€47,846 | -28.3% |
| Operating profit (loss) | 9901 | €162,023 | €89,050 | -€72,973 | -45.0% |
| Financial income | 75/76B | €94 | €365 | +€271 | +288.1% |
| Recurring financial income | 75 | €94 | €365 | +€271 | +288.1% |
| Financial charges | 65/66B | €1,205 | €3,674 | +€2,469 | +204.9% |
| Recurring financial charges | 65 | €1,205 | €3,674 | +€2,469 | +204.9% |
| Profit (loss) for the period before taxes | 9903 | €160,912 | €85,741 | -€75,171 | -46.7% |
| Income taxes | 67/77 | €47,690 | €25,088 | -€22,602 | -47.4% |
| Profit (loss) for the period | 9904 | €113,222 | €60,653 | -€52,569 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €113,222 | €60,653 | -€52,569 | -46.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.