G VISION: 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 VISION
Largest movements
- Cash -€94,204
down €94,204 (-71.4%), from €131,865 to €37,661
mainly Net result for the year (-€89,349) and Other debts (-€36,415)
- Receivables within one year -€39,148
down €39,148 (-13.4%), from €292,458 to €253,310
of which Other amounts receivable: -€39,178
- Stocks and contracts -€6,266
down €6,266 (-8.2%), from €76,791 to €70,525
- Profit (loss) carried forward -€89,349
down €89,349 (-52.5%), from €170,123 to €80,774
- Other debts -€36,415
no longer reported in 2025 (was €36,415)
- Tax, wage and social debts -€15,988
down €15,988 (-41.5%), from €38,551 to €22,563
of which Taxes: -€12,858
- Current portion of long-term debt -€14,915
down €14,915 (-58.1%), from €25,684 to €10,769
- Debts after one year +€9,259
up €9,259 (+23.1%), from €40,000 to €49,259
- Gross operating margin -€102,268
down €102,268 (-32.5%), from €314,244 to €211,975
- Staff costs -€43,644
down €43,644 (-16.9%), from €257,531 to €213,887
- Financial charges -€18,242
down €18,242 (-67.2%), from €27,159 to €8,917
- Depreciation -€10,780
down €10,780 (-82.4%), from €13,085 to €2,304
- Financial income -€5,800
down €5,800 (-100.0%), from €5,801 to €1
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 | €619,625 | €479,615 | -€140,009 | -22.6% |
| Fixed assets | 21/28 | €10,834 | €8,530 | -€2,304 | -21.3% |
| Tangible fixed assets | 22/27 | €10,404 | €8,100 | -€2,304 | -22.1% |
| Furniture and vehicles | 24 | €9,426 | €8,100 | -€1,326 | -14.1% |
| Other tangible fixed assets | 26 | €978 | €0 | -€978 | -100.0% |
| Financial fixed assets | 28 | €430 | €430 | = | 0.0% |
| Current assets | 29/58 | €608,791 | €471,086 | -€137,705 | -22.6% |
| Amounts receivable after more than one year | 29 | €103,041 | €103,041 | = | 0.0% |
| Other amounts receivable | 291 | €103,041 | €103,041 | = | 0.0% |
| Stocks and contracts in progress | 3 | €76,791 | €70,525 | -€6,266 | -8.2% |
| Stocks | 30/36 | €76,791 | €70,525 | -€6,266 | -8.2% |
| Amounts receivable within one year | 40/41 | €292,458 | €253,310 | -€39,148 | -13.4% |
| Trade receivables | 40 | €89,970 | €90,000 | +€30 | 0.0% |
| Other amounts receivable | 41 | €202,488 | €163,310 | -€39,178 | -19.3% |
| Cash at bank and in hand | 54/58 | €131,865 | €37,661 | -€94,204 | -71.4% |
| Deferred charges and accrued income | 490/1 | €4,634 | €6,547 | +€1,913 | +41.3% |
| Total equity and liabilities | 10/49 | €619,625 | €479,615 | -€140,009 | -22.6% |
| Equity | 10/15 | €222,707 | €133,359 | -€89,349 | -40.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €12,585 | €12,585 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,585 | €8,585 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,123 | €80,774 | -€89,349 | -52.5% |
| Amounts payable | 17/49 | €396,917 | €346,256 | -€50,661 | -12.8% |
| Amounts payable after more than one year | 17 | €40,000 | €49,259 | +€9,259 | +23.1% |
| Financial debts | 170/4 | €40,000 | €49,259 | +€9,259 | +23.1% |
| Amounts payable within one year | 42/48 | €356,917 | €295,771 | -€61,146 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €25,684 | €10,769 | -€14,915 | -58.1% |
| Trade debts | 44 | €256,268 | €262,439 | +€6,172 | +2.4% |
| Suppliers | 440/4 | €256,268 | €262,439 | +€6,172 | +2.4% |
| Taxes, remuneration and social security | 45 | €38,551 | €22,563 | -€15,988 | -41.5% |
| Taxes | 450/3 | €12,858 | €0 | -€12,858 | -100.0% |
| Remuneration and social security | 454/9 | €25,693 | €22,563 | -€3,130 | -12.2% |
| Other amounts payable | 47/48 | €36,415 | - | -€36,415 | |
| Accrued charges and deferred income | 492/3 | - | €1,227 | +€1,227 | |
| Remuneration, social security and pensions | 62 | €257,531 | €213,887 | -€43,644 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,085 | €2,304 | -€10,780 | -82.4% |
| Other operating charges | 640/8 | €4,190 | €1,424 | -€2,766 | -66.0% |
| Non-recurring operating charges | 66A | - | €69,099 | +€69,099 | |
| Gross operating margin | 9900 | €314,244 | €211,975 | -€102,268 | -32.5% |
| Operating profit (loss) | 9901 | €39,438 | -€74,739 | -€114,176 | |
| Financial income | 75/76B | €5,801 | €1 | -€5,800 | -100.0% |
| Recurring financial income | 75 | €5,801 | €1 | -€5,800 | -100.0% |
| Financial charges | 65/66B | €27,159 | €8,917 | -€18,242 | -67.2% |
| Recurring financial charges | 65 | €27,159 | €8,917 | -€18,242 | -67.2% |
| Profit (loss) for the period before taxes | 9903 | €18,080 | -€83,654 | -€101,734 | |
| Income taxes | 67/77 | €9,495 | €5,694 | -€3,801 | -40.0% |
| Profit (loss) for the period | 9904 | €8,585 | -€89,349 | -€97,933 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,585 | -€89,349 | -€97,933 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.