G-TECH: 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-TECH
Largest movements
- Current investments -€157,790
down €157,790 (-49.6%), from €317,825 to €160,035
- Cash +€112,246
up €112,246 (+71.6%), from €156,813 to €269,059
mainly Current investments (+€157,790) and Depreciation (+€56,565)
- Tangible fixed assets +€87,644
up €87,644 (+51.4%), from €170,389 to €258,033
of which Furniture and vehicles: +€102,837
- Stocks and contracts -€10,826
down €10,826 (-55.3%), from €19,580 to €8,754
of which Contracts in progress: -€9,886
- Reserves +€41,192
up €41,192 (+30.0%), from €137,455 to €178,647
of which Distributable reserves: +€41,192
- Gross operating margin +€50,096
up €50,096 (+80.3%), from €62,402 to €112,498
- Taxes +€15,711
up €15,711 (+7352.7%), from €214 to €15,925
- Depreciation +€13,129
up €13,129 (+30.2%), from €43,436 to €56,565
- Financial income +€1,909
up €1,909 (+139.8%), from €1,366 to €3,275
- Financial charges -€1,238
down €1,238 (-72.8%), from €1,702 to €463
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 | €718,279 | €755,203 | +€36,923 | +5.1% |
| Fixed assets | 21/28 | €170,389 | €258,033 | +€87,644 | +51.4% |
| Tangible fixed assets | 22/27 | €170,389 | €258,033 | +€87,644 | +51.4% |
| Land and buildings | 22 | €143,336 | €128,412 | -€14,923 | -10.4% |
| Plant, machinery and equipment | 23 | €684 | €414 | -€270 | -39.5% |
| Furniture and vehicles | 24 | €26,369 | €129,207 | +€102,837 | +390.0% |
| Current assets | 29/58 | €547,890 | €497,169 | -€50,721 | -9.3% |
| Stocks and contracts in progress | 3 | €19,580 | €8,754 | -€10,826 | -55.3% |
| Stocks | 30/36 | €4,580 | €3,640 | -€940 | -20.5% |
| Contracts in progress | 37 | €15,000 | €5,114 | -€9,886 | -65.9% |
| Amounts receivable within one year | 40/41 | €53,671 | €59,321 | +€5,649 | +10.5% |
| Trade receivables | 40 | €31,820 | €35,149 | +€3,328 | +10.5% |
| Other amounts receivable | 41 | €21,851 | €24,172 | +€2,321 | +10.6% |
| Current investments | 50/53 | €317,825 | €160,035 | -€157,790 | -49.6% |
| Cash at bank and in hand | 54/58 | €156,813 | €269,059 | +€112,246 | +71.6% |
| Total equity and liabilities | 10/49 | €718,279 | €755,203 | +€36,923 | +5.1% |
| Equity | 10/15 | €641,352 | €682,544 | +€41,192 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €137,455 | €178,647 | +€41,192 | +30.0% |
| Tax-exempt reserves | 132 | €15,282 | €15,282 | = | 0.0% |
| Distributable reserves | 133 | €122,172 | €163,364 | +€41,192 | +33.7% |
| Profit (loss) carried forward | 14 | €485,297 | €485,297 | = | 0.0% |
| Amounts payable | 17/49 | €76,927 | €72,659 | -€4,268 | -5.5% |
| Amounts payable after more than one year | 17 | €682 | - | -€682 | |
| Financial debts | 170/4 | €682 | - | -€682 | |
| Amounts payable within one year | 42/48 | €76,245 | €72,659 | -€3,586 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €8,147 | €682 | -€7,464 | -91.6% |
| Financial debts | 43 | - | €6,000 | +€6,000 | |
| Credit institutions | 430/8 | - | €6,000 | +€6,000 | |
| Trade debts | 44 | €1,520 | €1,976 | +€456 | +30.0% |
| Suppliers | 440/4 | €1,520 | €1,976 | +€456 | +30.0% |
| Taxes, remuneration and social security | 45 | €3,031 | €7,854 | +€4,823 | +159.1% |
| Taxes | 450/3 | €471 | €5,294 | +€4,823 | +1024.4% |
| Remuneration and social security | 454/9 | €2,560 | €2,560 | = | 0.0% |
| Other amounts payable | 47/48 | €63,547 | €56,147 | -€7,400 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,436 | €56,565 | +€13,129 | +30.2% |
| Other operating charges | 640/8 | €753 | €828 | +€75 | +10.0% |
| Gross operating margin | 9900 | €62,402 | €112,498 | +€50,096 | +80.3% |
| Operating profit (loss) | 9901 | €18,213 | €55,105 | +€36,892 | +202.6% |
| Financial income | 75/76B | €1,366 | €3,275 | +€1,909 | +139.8% |
| Recurring financial income | 75 | €1,366 | €3,275 | +€1,909 | +139.8% |
| Financial charges | 65/66B | €1,702 | €463 | -€1,238 | -72.8% |
| Recurring financial charges | 65 | €1,702 | €463 | -€1,238 | -72.8% |
| Profit (loss) for the period before taxes | 9903 | €17,877 | €57,917 | +€40,039 | +224.0% |
| Income taxes | 67/77 | €214 | €15,925 | +€15,711 | +7352.7% |
| Profit (loss) for the period | 9904 | €17,664 | €41,992 | +€24,328 | +137.7% |
| Transfer from tax-exempt reserves | 789 | €56,601 | - | -€56,601 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,264 | €41,992 | -€32,272 | -43.5% |
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 10 October 2026 via checked.be.