G.T.E.: 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.T.E.
Largest movements
- Tangible fixed assets -€31,145
down €31,145 (-12.1%), from €257,135 to €225,990
- Receivables within one year +€25,512
up €25,512 (+67.1%), from €38,003 to €63,515
of which Trade receivables: +€25,512
- Cash -€13,535
down €13,535 (-95.7%), from €14,140 to €605
mainly Other debts (-€41,460) and Receivables within one year (-€25,512)
- Other debts -€41,460
down €41,460 (-61.7%), from €67,220 to €25,760
- Trade debts +€26,558
up €26,558 (+376.9%), from €7,047 to €33,605
- Debts after one year -€23,080
down €23,080 (-14.1%), from €164,144 to €141,064
- Tax, wage and social debts +€7,893
up €7,893 (+41.9%), from €18,859 to €26,752
- Profit (loss) carried forward +€6,185
up €6,185 (+66.4%), from €9,319 to €15,504
- Turnover -€73,102
down €73,102 (-19.3%), from €378,759 to €305,657
- Purchases and services -€53,727
down €53,727 (-17.3%), from €310,203 to €256,476
- Staff costs -€12,405
down €12,405 (-72.5%), from €17,110 to €4,705
- Gross operating margin -€3,949
down €3,949 (-5.2%), from €75,229 to €71,280
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 | €328,082 | €306,743 | -€21,339 | -6.5% |
| Fixed assets | 21/28 | €257,330 | €226,185 | -€31,145 | -12.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €257,135 | €225,990 | -€31,145 | -12.1% |
| Land and buildings | 22 | €204,264 | €189,779 | -€14,485 | -7.1% |
| Plant, machinery and equipment | 23 | €21,419 | €14,381 | -€7,038 | -32.9% |
| Furniture and vehicles | 24 | €31,452 | €21,830 | -€9,622 | -30.6% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €195 | €195 | = | 0.0% |
| Current assets | 29/58 | €70,752 | €80,558 | +€9,806 | +13.9% |
| Stocks and contracts in progress | 3 | €14,855 | €13,789 | -€1,066 | -7.2% |
| Stocks | 30/36 | €14,855 | €13,789 | -€1,066 | -7.2% |
| Amounts receivable within one year | 40/41 | €38,003 | €63,515 | +€25,512 | +67.1% |
| Trade receivables | 40 | €22,333 | €47,845 | +€25,512 | +114.2% |
| Other amounts receivable | 41 | €15,670 | €15,670 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,140 | €605 | -€13,535 | -95.7% |
| Deferred charges and accrued income | 490/1 | €3,754 | €2,649 | -€1,105 | -29.4% |
| Total equity and liabilities | 10/49 | €328,082 | €306,743 | -€21,339 | -6.5% |
| Equity | 10/15 | €45,379 | €51,564 | +€6,185 | +13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,319 | €15,504 | +€6,185 | +66.4% |
| Investment grants | 15 | €15,600 | €15,600 | = | 0.0% |
| Amounts payable | 17/49 | €282,703 | €255,179 | -€27,524 | -9.7% |
| Amounts payable after more than one year | 17 | €164,144 | €141,064 | -€23,080 | -14.1% |
| Financial debts | 170/4 | €164,144 | €141,064 | -€23,080 | -14.1% |
| Amounts payable within one year | 42/48 | €118,434 | €113,990 | -€4,444 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €25,308 | €23,080 | -€2,228 | -8.8% |
| Financial debts | 43 | - | €4,793 | +€4,793 | |
| Other loans | 439 | - | €4,793 | +€4,793 | |
| Trade debts | 44 | €7,047 | €33,605 | +€26,558 | +376.9% |
| Suppliers | 440/4 | €7,047 | €33,605 | +€26,558 | +376.9% |
| Taxes, remuneration and social security | 45 | €18,859 | €26,752 | +€7,893 | +41.9% |
| Taxes | 450/3 | €18,859 | €26,752 | +€7,893 | +41.9% |
| Other amounts payable | 47/48 | €67,220 | €25,760 | -€41,460 | -61.7% |
| Accrued charges and deferred income | 492/3 | €125 | €125 | = | 0.0% |
| Turnover | 70 | €378,759 | €305,657 | -€73,102 | -19.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €310,203 | €256,476 | -€53,727 | -17.3% |
| Remuneration, social security and pensions | 62 | €17,110 | €4,705 | -€12,405 | -72.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,155 | €33,513 | -€1,642 | -4.7% |
| Other operating charges | 640/8 | €2,436 | €2,034 | -€402 | -16.5% |
| Gross operating margin | 9900 | €75,229 | €71,280 | -€3,949 | -5.2% |
| Operating profit (loss) | 9901 | €20,528 | €31,028 | +€10,500 | +51.1% |
| Financial income | 75/76B | €328 | €590 | +€262 | +79.9% |
| Recurring financial income | 75 | €328 | €590 | +€262 | +79.9% |
| Financial charges | 65/66B | €8,987 | €7,033 | -€1,954 | -21.7% |
| Recurring financial charges | 65 | €8,987 | €7,033 | -€1,954 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €11,869 | €24,585 | +€12,716 | +107.1% |
| Income taxes | 67/77 | €3,207 | €6,400 | +€3,193 | +99.6% |
| Profit (loss) for the period | 9904 | €8,662 | €18,185 | +€9,523 | +109.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,662 | €18,185 | +€9,523 | +109.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.