G-TEK: 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-TEK
Largest movements
- Receivables within one year +€610,537
up €610,537 (+78.3%), from €779,442 to €1.4m
of which Trade receivables: +€664,295
- Cash +€262,584
up €262,584 (+78.0%), from €336,649 to €599,233
mainly Accrued charges and deferred income (+€859,814) and Net result for the year (+€43,934)
- Stocks and contracts +€79,715
up €79,715 (+27.1%), from €293,759 to €373,474
of which Stocks: +€79,593
- Accrued charges and deferred income +€859,814
up €859,814 (+314.9%), from €273,006 to €1.1m
- Profit (loss) carried forward +€43,934
up €43,934 (+110.0%), from €39,938 to €83,873
- Tax, wage and social debts +€34,995
up €34,995 (+72.9%), from €47,981 to €82,975
of which Taxes: +€32,153
- Gross operating margin +€96,540
up €96,540 (+34.6%), from €279,008 to €375,548
- Staff costs +€79,292
up €79,292 (+48.3%), from €164,304 to €243,596
- Depreciation +€7,345
up €7,345 (+25.5%), from €28,780 to €36,124
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 | €1,571,982 | €2,500,156 | +€928,174 | +59.0% |
| Formation expenses | 20 | €15,552 | €11,437 | -€4,114 | -26.5% |
| Fixed assets | 21/28 | €121,072 | €104,854 | -€16,218 | -13.4% |
| Intangible fixed assets | 21 | €30,365 | €26,632 | -€3,732 | -12.3% |
| Tangible fixed assets | 22/27 | €90,708 | €78,222 | -€12,486 | -13.8% |
| Plant, machinery and equipment | 23 | €90,708 | €78,222 | -€12,486 | -13.8% |
| Current assets | 29/58 | €1,435,358 | €2,383,865 | +€948,506 | +66.1% |
| Stocks and contracts in progress | 3 | €293,759 | €373,474 | +€79,715 | +27.1% |
| Stocks | 30/36 | €293,759 | €373,352 | +€79,593 | +27.1% |
| Contracts in progress | 37 | - | €122 | +€122 | |
| Amounts receivable within one year | 40/41 | €779,442 | €1,389,979 | +€610,537 | +78.3% |
| Trade receivables | 40 | €689,696 | €1,353,991 | +€664,295 | +96.3% |
| Other amounts receivable | 41 | €89,746 | €35,989 | -€53,758 | -59.9% |
| Cash at bank and in hand | 54/58 | €336,649 | €599,233 | +€262,584 | +78.0% |
| Deferred charges and accrued income | 490/1 | €25,508 | €21,178 | -€4,330 | -17.0% |
| Total equity and liabilities | 10/49 | €1,571,982 | €2,500,156 | +€928,174 | +59.0% |
| Equity | 10/15 | €44,338 | €88,273 | +€43,934 | +99.1% |
| Contributions | 10/11 | €4,400 | €4,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,938 | €83,873 | +€43,934 | +110.0% |
| Amounts payable | 17/49 | €1,527,644 | €2,411,884 | +€884,239 | +57.9% |
| Amounts payable after more than one year | 17 | €450,000 | €450,000 | = | 0.0% |
| Financial debts | 170/4 | €450,000 | €450,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €804,638 | €829,064 | +€24,426 | +3.0% |
| Trade debts | 44 | €756,658 | €746,088 | -€10,569 | -1.4% |
| Suppliers | 440/4 | €756,658 | €746,088 | -€10,569 | -1.4% |
| Taxes, remuneration and social security | 45 | €47,981 | €82,975 | +€34,995 | +72.9% |
| Taxes | 450/3 | €20,230 | €52,383 | +€32,153 | +158.9% |
| Remuneration and social security | 454/9 | €27,751 | €30,592 | +€2,842 | +10.2% |
| Accrued charges and deferred income | 492/3 | €273,006 | €1,132,820 | +€859,814 | +314.9% |
| Remuneration, social security and pensions | 62 | €164,304 | €243,596 | +€79,292 | +48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,780 | €36,124 | +€7,345 | +25.5% |
| Other operating charges | 640/8 | €176 | €2,302 | +€2,126 | +1207.9% |
| Gross operating margin | 9900 | €279,008 | €375,548 | +€96,540 | +34.6% |
| Operating profit (loss) | 9901 | €85,749 | €93,525 | +€7,776 | +9.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €31,157 | €33,047 | +€1,890 | +6.1% |
| Recurring financial charges | 65 | €31,157 | €33,047 | +€1,890 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €54,591 | €60,478 | +€5,887 | +10.8% |
| Income taxes | 67/77 | €14,653 | €16,543 | +€1,890 | +12.9% |
| Profit (loss) for the period | 9904 | €39,938 | €43,934 | +€3,996 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,938 | €43,934 | +€3,996 | +10.0% |
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 11 October 2026 via checked.be.