G-TEEK: 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-TEEK
Largest movements
- Tangible fixed assets +€70,403
up €70,403 (+52.1%), from €135,257 to €205,659
of which Leasing and similar rights: +€73,640
- Cash -€57,067
down €57,067 (-89.4%), from €63,833 to €6,766
mainly Investment in fixed assets (net) (-€96,777) and Receivables within one year (-€50,333)
- Receivables within one year +€50,333
up €50,333 (+191%), from €26,285 to €76,618
of which Trade receivables: +€54,669
- Trade debts +€33,219
up €33,219 (+279%), from €11,902 to €45,122
- Debts after one year +€32,738
up €32,738 (+65.2%), from €50,177 to €82,916
- Current portion of long-term debt +€12,771
up €12,771 (+78.8%), from €16,205 to €28,976
- Reserves -€10,000
down €10,000 (-8.6%), from €116,705 to €106,705
of which Distributable reserves: -€10,000
- Gross operating margin -€12,231
down €12,231 (-17.1%), from €71,319 to €59,089
- Financial charges +€4,194
up €4,194 (+194%), from €2,167 to €6,360
- Staff costs -€4,089
down €4,089 (-10.3%), from €39,709 to €35,620
- Depreciation +€3,745
up €3,745 (+16.5%), from €22,629 to €26,374
- Taxes -€1,996
down €1,996 (-90.0%), from €2,218 to €222
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 | €242,992 | €305,079 | +€62,086 | +25.6% |
| Fixed assets | 21/28 | €139,317 | €209,719 | +€70,403 | +50.5% |
| Tangible fixed assets | 22/27 | €135,257 | €205,659 | +€70,403 | +52.1% |
| Plant, machinery and equipment | 23 | €30,323 | €41,482 | +€11,159 | +36.8% |
| Furniture and vehicles | 24 | €102,860 | €88,880 | -€13,979 | -13.6% |
| Leasing and similar rights | 25 | - | €73,640 | +€73,640 | |
| Other tangible fixed assets | 26 | €2,074 | €1,657 | -€417 | -20.1% |
| Financial fixed assets | 28 | €4,060 | €4,060 | = | 0.0% |
| Current assets | 29/58 | €103,676 | €95,359 | -€8,316 | -8.0% |
| Stocks and contracts in progress | 3 | €13,438 | €10,883 | -€2,554 | -19.0% |
| Stocks | 30/36 | €13,438 | €10,883 | -€2,554 | -19.0% |
| Amounts receivable within one year | 40/41 | €26,285 | €76,618 | +€50,333 | +191% |
| Trade receivables | 40 | €12,846 | €67,515 | +€54,669 | +426% |
| Other amounts receivable | 41 | €13,439 | €9,103 | -€4,336 | -32.3% |
| Cash at bank and in hand | 54/58 | €63,833 | €6,766 | -€57,067 | -89.4% |
| Deferred charges and accrued income | 490/1 | €119 | €1,092 | +€972 | +814% |
| Total equity and liabilities | 10/49 | €242,992 | €305,079 | +€62,086 | +25.6% |
| Equity | 10/15 | €138,046 | €126,737 | -€11,309 | -8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,705 | €106,705 | -€10,000 | -8.6% |
| Tax-exempt reserves | 132 | €21,705 | €21,705 | = | 0.0% |
| Distributable reserves | 133 | €95,000 | €85,000 | -€10,000 | -10.5% |
| Profit (loss) carried forward | 14 | €2,741 | €1,432 | -€1,309 | -47.8% |
| Amounts payable | 17/49 | €104,946 | €178,342 | +€73,396 | +69.9% |
| Amounts payable after more than one year | 17 | €50,177 | €82,916 | +€32,738 | +65.2% |
| Financial debts | 170/4 | €50,177 | €82,916 | +€32,738 | +65.2% |
| Amounts payable within one year | 42/48 | €54,178 | €95,026 | +€40,848 | +75.4% |
| Current portion of amounts payable after more than one year | 42 | €16,205 | €28,976 | +€12,771 | +78.8% |
| Trade debts | 44 | €11,902 | €45,122 | +€33,219 | +279% |
| Suppliers | 440/4 | €11,902 | €45,122 | +€33,219 | +279% |
| Taxes, remuneration and social security | 45 | €18,881 | €15,936 | -€2,945 | -15.6% |
| Taxes | 450/3 | €13,105 | €9,738 | -€3,368 | -25.7% |
| Remuneration and social security | 454/9 | €5,776 | €6,199 | +€422 | +7.3% |
| Other amounts payable | 47/48 | €7,189 | €4,992 | -€2,197 | -30.6% |
| Accrued charges and deferred income | 492/3 | €591 | €400 | -€191 | -32.3% |
| Remuneration, social security and pensions | 62 | €39,709 | €35,620 | -€4,089 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,629 | €26,374 | +€3,745 | +16.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,741 | €2,019 | -€722 | -26.3% |
| Gross operating margin | 9900 | €71,319 | €59,089 | -€12,231 | -17.1% |
| Operating profit (loss) | 9901 | €6,240 | -€4,924 | -€11,165 | |
| Financial income | 75/76B | €496 | €197 | -€299 | -60.3% |
| Recurring financial income | 75 | €496 | €197 | -€299 | -60.3% |
| Financial charges | 65/66B | €2,167 | €6,360 | +€4,194 | +194% |
| Recurring financial charges | 65 | €2,167 | €6,360 | +€4,194 | +194% |
| Profit (loss) for the period before taxes | 9903 | €4,570 | -€11,088 | -€15,658 | |
| Income taxes | 67/77 | €2,218 | €222 | -€1,996 | -90.0% |
| Profit (loss) for the period | 9904 | €2,352 | -€11,309 | -€13,662 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,352 | -€11,309 | -€13,662 |
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.