G.T.: 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.T.
Largest movements
- Tangible fixed assets +€32,826
up €32,826 (+77.4%), from €42,433 to €75,259
of which Plant, machinery and equipment: +€33,875
- Cash -€11,718
down €11,718 (-52.8%), from €22,210 to €10,492
mainly Investment in fixed assets (net) (-€46,850) and Other debts (-€9,896)
- Intangible fixed assets -€8,000
down €8,000 (-28.6%), from €28,000 to €20,000
- Deferred charges and accrued income -€3,000
down €3,000 (-84.2%), from €3,563 to €563
- Debts after one year +€18,365
up €18,365 (+132%), from €13,879 to €32,244
- Other debts -€9,896
down €9,896 (-72.5%), from €13,649 to €3,753
- Trade debts +€4,885
up €4,885 (+13.0%), from €37,584 to €42,469
- Profit (loss) carried forward -€4,628
down €4,628, from €307 to -€4,322
- Current portion of long-term debt +€2,553
up €2,553 (+12.6%), from €20,188 to €22,741
- Purchases and services -€49,126
down €49,126 (-11.6%), from €425,234 to €376,108
- Staff costs +€22,899
up €22,899 (+19.4%), from €117,774 to €140,672
- Gross operating margin +€21,730
up €21,730 (+14.8%), from €147,147 to €168,877
- Depreciation +€3,428
up €3,428 (+18.4%), from €18,596 to €22,024
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 | €99,816 | €109,874 | +€10,058 | +10.1% |
| Fixed assets | 21/28 | €70,826 | €95,652 | +€24,826 | +35.1% |
| Intangible fixed assets | 21 | €28,000 | €20,000 | -€8,000 | -28.6% |
| Tangible fixed assets | 22/27 | €42,433 | €75,259 | +€32,826 | +77.4% |
| Plant, machinery and equipment | 23 | €32,955 | €66,831 | +€33,875 | +103% |
| Furniture and vehicles | 24 | - | €753 | +€753 | |
| Other tangible fixed assets | 26 | €9,478 | €7,675 | -€1,802 | -19.0% |
| Financial fixed assets | 28 | €393 | €393 | = | 0.0% |
| Current assets | 29/58 | €28,990 | €14,221 | -€14,769 | -50.9% |
| Stocks and contracts in progress | 3 | €3,091 | €2,735 | -€356 | -11.5% |
| Stocks | 30/36 | €3,091 | €2,735 | -€356 | -11.5% |
| Amounts receivable within one year | 40/41 | €126 | €432 | +€306 | +243% |
| Trade receivables | 40 | - | €432 | +€432 | |
| Other amounts receivable | 41 | €126 | - | -€126 | |
| Cash at bank and in hand | 54/58 | €22,210 | €10,492 | -€11,718 | -52.8% |
| Deferred charges and accrued income | 490/1 | €3,563 | €563 | -€3,000 | -84.2% |
| Total equity and liabilities | 10/49 | €99,816 | €109,874 | +€10,058 | +10.1% |
| Equity | 10/15 | €6,507 | €1,878 | -€4,628 | -71.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €307 | -€4,322 | -€4,628 | |
| Amounts payable | 17/49 | €93,310 | €107,995 | +€14,686 | +15.7% |
| Amounts payable after more than one year | 17 | €13,879 | €32,244 | +€18,365 | +132% |
| Financial debts | 170/4 | €13,879 | €32,244 | +€18,365 | +132% |
| Amounts payable within one year | 42/48 | €79,431 | €75,752 | -€3,679 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €20,188 | €22,741 | +€2,553 | +12.6% |
| Trade debts | 44 | €37,584 | €42,469 | +€4,885 | +13.0% |
| Suppliers | 440/4 | €37,584 | €42,469 | +€4,885 | +13.0% |
| Taxes, remuneration and social security | 45 | €8,009 | €6,788 | -€1,221 | -15.2% |
| Taxes | 450/3 | €484 | - | -€484 | |
| Remuneration and social security | 454/9 | €7,525 | €6,788 | -€737 | -9.8% |
| Other amounts payable | 47/48 | €13,649 | €3,753 | -€9,896 | -72.5% |
| Non-recurring operating income | 76A | €1 | €456 | +€455 | +71,138% |
| Goods, raw materials, services and sundry goods | 60/61 | €425,234 | €376,108 | -€49,126 | -11.6% |
| Remuneration, social security and pensions | 62 | €117,774 | €140,672 | +€22,899 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,596 | €22,024 | +€3,428 | +18.4% |
| Other operating charges | 640/8 | €3,027 | €1,723 | -€1,304 | -43.1% |
| Non-recurring operating charges | 66A | €458 | €1,850 | +€1,392 | +304% |
| Gross operating margin | 9900 | €147,147 | €168,877 | +€21,730 | +14.8% |
| Operating profit (loss) | 9901 | €7,292 | €2,608 | -€4,684 | -64.2% |
| Financial charges | 65/66B | €6,814 | €7,055 | +€241 | +3.5% |
| Recurring financial charges | 65 | €4,654 | €5,690 | +€1,036 | +22.3% |
| Non-recurring financial charges | 66B | €2,160 | €1,365 | -€795 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | €478 | -€4,447 | -€4,925 | |
| Income taxes | 67/77 | €261 | €181 | -€80 | -30.6% |
| Profit (loss) for the period | 9904 | €217 | -€4,628 | -€4,845 | |
| Profit (loss) for the period to be appropriated | 9905 | €217 | -€4,628 | -€4,845 |
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 15 October 2026 via checked.be.