G-Systems: 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-Systems
Largest movements
- Cash +€176,365
up €176,365 (+11.8%), from €1.5m to €1.7m
mainly Stocks and contracts (+€139,829) and Net result for the year (+€106,901)
- Stocks and contracts -€139,829
down €139,829 (-19.4%), from €719,097 to €579,267
- Receivables within one year +€81,363
up €81,363 (+25.2%), from €322,599 to €403,961
of which Other amounts receivable: +€67,903
- Reserves +€74,901
up €74,901 (+2.8%), from €2.7m to €2.8m
of which Distributable reserves: +€74,901
- Staff costs +€74,023
up €74,023 (+35.6%), from €207,804 to €281,827
- Write-downs +€54,890
up €54,890 (+827%), from €6,638 to €61,528
- Gross operating margin +€45,211
up €45,211 (+8.8%), from €513,922 to €559,133
- Taxes -€29,598
down €29,598 (-38.1%), from €77,643 to €48,045
- Financial income -€7,197
down €7,197 (-55.5%), from €12,969 to €5,772
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 | €2,757,811 | €2,847,690 | +€89,879 | +3.3% |
| Fixed assets | 21/28 | €187,542 | €166,865 | -€20,677 | -11.0% |
| Tangible fixed assets | 22/27 | €184,542 | €163,865 | -€20,677 | -11.2% |
| Land and buildings | 22 | €55,040 | €48,160 | -€6,880 | -12.5% |
| Plant, machinery and equipment | 23 | €32,277 | €28,172 | -€4,105 | -12.7% |
| Furniture and vehicles | 24 | €97,225 | €87,532 | -€9,692 | -10.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €2,570,269 | €2,680,825 | +€110,556 | +4.3% |
| Stocks and contracts in progress | 3 | €719,097 | €579,267 | -€139,829 | -19.4% |
| Stocks | 30/36 | €719,097 | €579,267 | -€139,829 | -19.4% |
| Amounts receivable within one year | 40/41 | €322,599 | €403,961 | +€81,363 | +25.2% |
| Trade receivables | 40 | €311,609 | €325,068 | +€13,459 | +4.3% |
| Other amounts receivable | 41 | €10,990 | €78,893 | +€67,903 | +618% |
| Cash at bank and in hand | 54/58 | €1,490,264 | €1,666,629 | +€176,365 | +11.8% |
| Deferred charges and accrued income | 490/1 | €38,310 | €30,967 | -€7,343 | -19.2% |
| Total equity and liabilities | 10/49 | €2,757,811 | €2,847,690 | +€89,879 | +3.3% |
| Equity | 10/15 | €2,717,758 | €2,792,659 | +€74,901 | +2.8% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €2,680,258 | €2,755,159 | +€74,901 | +2.8% |
| Non-distributable reserves | 130/1 | €3,750 | €3,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,750 | €3,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €293 | €293 | = | 0.0% |
| Distributable reserves | 133 | €2,676,215 | €2,751,116 | +€74,901 | +2.8% |
| Amounts payable | 17/49 | €40,053 | €55,031 | +€14,978 | +37.4% |
| Amounts payable within one year | 42/48 | €40,004 | €55,031 | +€15,027 | +37.6% |
| Trade debts | 44 | €19,074 | €26,503 | +€7,429 | +38.9% |
| Suppliers | 440/4 | €19,074 | €26,503 | +€7,429 | +38.9% |
| Advances received on contracts in progress | 46 | €250 | - | -€250 | |
| Taxes, remuneration and social security | 45 | €20,680 | €28,528 | +€7,848 | +37.9% |
| Taxes | 450/3 | €21 | - | -€21 | |
| Remuneration and social security | 454/9 | €20,660 | €28,528 | +€7,869 | +38.1% |
| Accrued charges and deferred income | 492/3 | €49 | - | -€49 | |
| Non-recurring operating income | 76A | €17,756 | €30,245 | +€12,489 | +70.3% |
| Remuneration, social security and pensions | 62 | €207,804 | €281,827 | +€74,023 | +35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,030 | €46,292 | +€3,261 | +7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,638 | €61,528 | +€54,890 | +827% |
| Other operating charges | 640/8 | €6,777 | €4,006 | -€2,771 | -40.9% |
| Non-recurring operating charges | 66A | €264 | - | -€264 | |
| Gross operating margin | 9900 | €513,922 | €559,133 | +€45,211 | +8.8% |
| Operating profit (loss) | 9901 | €249,409 | €165,481 | -€83,928 | -33.7% |
| Financial income | 75/76B | €12,969 | €5,772 | -€7,197 | -55.5% |
| Recurring financial income | 75 | €12,969 | €5,772 | -€7,197 | -55.5% |
| Financial charges | 65/66B | €12,831 | €16,307 | +€3,475 | +27.1% |
| Recurring financial charges | 65 | €12,831 | €16,307 | +€3,475 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €249,546 | €154,945 | -€94,601 | -37.9% |
| Income taxes | 67/77 | €77,643 | €48,045 | -€29,598 | -38.1% |
| Profit (loss) for the period | 9904 | €171,903 | €106,901 | -€65,002 | -37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €171,903 | €106,901 | -€65,002 | -37.8% |
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 16 October 2026 via checked.be.