G-TIME: 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-TIME
Largest movements
- Receivables within one year +€244,767
up €244,767 (+37.0%), from €662,221 to €906,988
of which Trade receivables: +€334,720
- Deferred charges and accrued income -€136,655
down €136,655 (-92.8%), from €147,280 to €10,625
- Stocks and contracts -€135,798
down €135,798 (-14.8%), from €918,544 to €782,746
- Short-term financial debts -€140,620
down €140,620 (-31.6%), from €444,307 to €303,687
- Debts after one year +€129,457
up €129,457 (+128.7%), from €100,609 to €230,066
- Current portion of long-term debt -€49,933
down €49,933 (-42.9%), from €116,381 to €66,448
- Profit (loss) carried forward +€28,802
up €28,802 (+94.0%), from €30,654 to €59,456
- Gross operating margin +€176,396
up €176,396 (+94.9%), from €185,898 to €362,294
- Financial charges +€158,365
up €158,365 (+187.8%), from €84,320 to €242,685
of which Non-recurring financial charges: +€143,665
- Staff costs -€19,942
down €19,942 (-25.2%), from €79,291 to €59,349
- Taxes +€9,436
up €9,436 (+212.5%), from €4,441 to €13,876
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 | €1,826,268 | €1,806,528 | -€19,741 | -1.1% |
| Fixed assets | 21/28 | €48,241 | €41,170 | -€7,072 | -14.7% |
| Intangible fixed assets | 21 | €2,247 | - | -€2,247 | |
| Tangible fixed assets | 22/27 | €45,745 | €40,920 | -€4,825 | -10.5% |
| Furniture and vehicles | 24 | €10,869 | €8,451 | -€2,418 | -22.2% |
| Other tangible fixed assets | 26 | €34,876 | €32,469 | -€2,407 | -6.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,778,027 | €1,765,358 | -€12,669 | -0.7% |
| Stocks and contracts in progress | 3 | €918,544 | €782,746 | -€135,798 | -14.8% |
| Stocks | 30/36 | €918,544 | €782,746 | -€135,798 | -14.8% |
| Amounts receivable within one year | 40/41 | €662,221 | €906,988 | +€244,767 | +37.0% |
| Trade receivables | 40 | €556,384 | €891,104 | +€334,720 | +60.2% |
| Other amounts receivable | 41 | €105,836 | €15,884 | -€89,953 | -85.0% |
| Cash at bank and in hand | 54/58 | €49,983 | €64,999 | +€15,016 | +30.0% |
| Deferred charges and accrued income | 490/1 | €147,280 | €10,625 | -€136,655 | -92.8% |
| Total equity and liabilities | 10/49 | €1,826,268 | €1,806,528 | -€19,741 | -1.1% |
| Equity | 10/15 | €168,154 | €196,956 | +€28,802 | +17.1% |
| Contributions | 10/11 | €137,500 | €137,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,654 | €59,456 | +€28,802 | +94.0% |
| Amounts payable | 17/49 | €1,658,115 | €1,609,572 | -€48,543 | -2.9% |
| Amounts payable after more than one year | 17 | €100,609 | €230,066 | +€129,457 | +128.7% |
| Financial debts | 170/4 | €100,609 | €230,066 | +€129,457 | +128.7% |
| Amounts payable within one year | 42/48 | €1,557,506 | €1,379,506 | -€178,000 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €116,381 | €66,448 | -€49,933 | -42.9% |
| Financial debts | 43 | €444,307 | €303,687 | -€140,620 | -31.6% |
| Credit institutions | 430/8 | €444,307 | €303,687 | -€140,620 | -31.6% |
| Trade debts | 44 | €883,636 | €893,524 | +€9,888 | +1.1% |
| Suppliers | 440/4 | €883,636 | €893,524 | +€9,888 | +1.1% |
| Taxes, remuneration and social security | 45 | €13,183 | €15,960 | +€2,777 | +21.1% |
| Remuneration and social security | 454/9 | €13,183 | €15,960 | +€2,777 | +21.1% |
| Other amounts payable | 47/48 | €100,000 | €99,886 | -€114 | -0.1% |
| Remuneration, social security and pensions | 62 | €79,291 | €59,349 | -€19,942 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,048 | €16,417 | +€3,369 | +25.8% |
| Other operating charges | 640/8 | €1,255 | €1,266 | +€11 | +0.9% |
| Gross operating margin | 9900 | €185,898 | €362,294 | +€176,396 | +94.9% |
| Operating profit (loss) | 9901 | €92,304 | €285,262 | +€192,958 | +209.0% |
| Financial income | 75/76B | €47 | €102 | +€55 | +116.5% |
| Recurring financial income | 75 | €47 | €102 | +€55 | +116.5% |
| Financial charges | 65/66B | €84,320 | €242,685 | +€158,365 | +187.8% |
| Recurring financial charges | 65 | €84,320 | €99,020 | +€14,700 | +17.4% |
| Non-recurring financial charges | 66B | - | €143,665 | +€143,665 | |
| Profit (loss) for the period before taxes | 9903 | €8,031 | €42,679 | +€34,648 | +431.4% |
| Income taxes | 67/77 | €4,441 | €13,876 | +€9,436 | +212.5% |
| Profit (loss) for the period | 9904 | €3,590 | €28,802 | +€25,212 | +702.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,590 | €28,802 | +€25,212 | +702.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.