G-SYSTEM PROJECTS: 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-SYSTEM PROJECTS
Largest movements
- Current investments +€25,985
up €25,985 (+57.7%), from €45,015 to €71,000
- Receivables within one year -€11,140
down €11,140 (-38.9%), from €28,659 to €17,519
of which Trade receivables: -€13,809
- Tangible fixed assets +€1,480
up €1,480 (+25.2%), from €5,879 to €7,358
of which Furniture and vehicles: +€2,672
- Reserves +€12,050
up €12,050 (+29.2%), from €41,272 to €53,322
of which Distributable reserves: +€12,050
- Tax, wage and social debts +€2,601
up €2,601 (+101%), from €2,569 to €5,170
- Trade debts +€1,747
up €1,747 (+10.8%), from €16,213 to €17,959
- Gross operating margin +€16,806
up €16,806 (+190%), from €8,857 to €25,664
- Write-downs +€6,037
new in 2025: €6,037
- Taxes +€3,388
up €3,388 (+194%), from €1,749 to €5,137
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 | €81,979 | €98,891 | +€16,912 | +20.6% |
| Fixed assets | 21/28 | €5,904 | €7,383 | +€1,480 | +25.1% |
| Tangible fixed assets | 22/27 | €5,879 | €7,358 | +€1,480 | +25.2% |
| Furniture and vehicles | 24 | €902 | €3,574 | +€2,672 | +296% |
| Other tangible fixed assets | 26 | €4,976 | €3,784 | -€1,192 | -24.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €76,076 | €91,508 | +€15,432 | +20.3% |
| Stocks and contracts in progress | 3 | €2,199 | €2,199 | = | 0.0% |
| Stocks | 30/36 | €2,199 | €2,199 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,659 | €17,519 | -€11,140 | -38.9% |
| Trade receivables | 40 | €25,601 | €11,792 | -€13,809 | -53.9% |
| Other amounts receivable | 41 | €3,058 | €5,727 | +€2,669 | +87.3% |
| Current investments | 50/53 | €45,015 | €71,000 | +€25,985 | +57.7% |
| Cash at bank and in hand | 54/58 | €203 | €790 | +€587 | +289% |
| Total equity and liabilities | 10/49 | €81,979 | €98,891 | +€16,912 | +20.6% |
| Equity | 10/15 | €58,010 | €70,126 | +€12,116 | +20.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €41,272 | €53,322 | +€12,050 | +29.2% |
| Non-distributable reserves | 130/1 | €1,022 | €1,022 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,022 | €1,022 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,500 | €5,500 | = | 0.0% |
| Distributable reserves | 133 | €34,750 | €46,800 | +€12,050 | +34.7% |
| Profit (loss) carried forward | 14 | €4,338 | €4,404 | +€66 | +1.5% |
| Amounts payable | 17/49 | €23,969 | €28,765 | +€4,795 | +20.0% |
| Amounts payable within one year | 42/48 | €23,969 | €28,765 | +€4,795 | +20.0% |
| Trade debts | 44 | €16,213 | €17,959 | +€1,747 | +10.8% |
| Suppliers | 440/4 | €16,213 | €17,959 | +€1,747 | +10.8% |
| Taxes, remuneration and social security | 45 | €2,569 | €5,170 | +€2,601 | +101% |
| Taxes | 450/3 | €2,569 | €5,170 | +€2,601 | +101% |
| Other amounts payable | 47/48 | €5,188 | €5,635 | +€448 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,471 | €1,456 | -€15 | -1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,037 | +€6,037 | |
| Other operating charges | 640/8 | €1,291 | €1,068 | -€223 | -17.3% |
| Gross operating margin | 9900 | €8,857 | €25,664 | +€16,806 | +190% |
| Operating profit (loss) | 9901 | €6,095 | €17,103 | +€11,008 | +181% |
| Financial income | 75/76B | €80 | €308 | +€228 | +283% |
| Recurring financial income | 75 | €80 | €308 | +€228 | +283% |
| Financial charges | 65/66B | €177 | €158 | -€19 | -10.8% |
| Recurring financial charges | 65 | €177 | €158 | -€19 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €5,999 | €17,254 | +€11,255 | +188% |
| Income taxes | 67/77 | €1,749 | €5,137 | +€3,388 | +194% |
| Profit (loss) for the period | 9904 | €4,250 | €12,116 | +€7,866 | +185% |
| Profit (loss) for the period to be appropriated | 9905 | €4,250 | €12,116 | +€7,866 | +185% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.