G-WORKS: 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-WORKS
Largest movements
- Receivables within one year -€6,615
down €6,615 (-14.8%), from €44,745 to €38,130
of which Trade receivables: -€4,904
- Cash +€3,879
up €3,879 (+890%), from €436 to €4,315
mainly Current portion of long-term debt (+€21,106) and Net result for the year (+€10,518)
- Reserves -€22,000
down €22,000 (-40.3%), from €54,600 to €32,600
- Current portion of long-term debt +€21,106
up €21,106 (+104%), from €20,369 to €41,475
- Tax, wage and social debts -€7,793
down €7,793 (-78.9%), from €9,873 to €2,080
- Accrued charges and deferred income +€4,790
new in 2025: €4,790
- Other debts -€3,142
down €3,142 (-9.0%), from €34,918 to €31,776
- Gross operating margin +€10,230
up €10,230 (+73.1%), from €13,995 to €24,225
- Financial charges +€5,670
up €5,670 (+5,155%), from €110 to €5,780
- Taxes +€1,616
up €1,616 (+38.0%), from €4,252 to €5,869
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 | €188,428 | €184,491 | -€3,937 | -2.1% |
| Fixed assets | 21/28 | €142,531 | €141,289 | -€1,242 | -0.9% |
| Tangible fixed assets | 22/27 | €2,164 | €922 | -€1,242 | -57.4% |
| Furniture and vehicles | 24 | €2,164 | €922 | -€1,242 | -57.4% |
| Financial fixed assets | 28 | €140,366 | €140,366 | = | 0.0% |
| Current assets | 29/58 | €45,897 | €43,202 | -€2,694 | -5.9% |
| Amounts receivable within one year | 40/41 | €44,745 | €38,130 | -€6,615 | -14.8% |
| Trade receivables | 40 | €38,826 | €33,922 | -€4,904 | -12.6% |
| Other amounts receivable | 41 | €5,920 | €4,209 | -€1,711 | -28.9% |
| Cash at bank and in hand | 54/58 | €436 | €4,315 | +€3,879 | +890% |
| Deferred charges and accrued income | 490/1 | €716 | €757 | +€42 | +5.8% |
| Total equity and liabilities | 10/49 | €188,428 | €184,491 | -€3,937 | -2.1% |
| Equity | 10/15 | €60,397 | €38,916 | -€21,482 | -35.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €54,600 | €32,600 | -€22,000 | -40.3% |
| Distributable reserves | 133 | €54,600 | €32,600 | -€22,000 | -40.3% |
| Profit (loss) carried forward | 14 | €4,797 | €5,316 | +€518 | +10.8% |
| Amounts payable | 17/49 | €128,031 | €145,576 | +€17,545 | +13.7% |
| Amounts payable after more than one year | 17 | €62,212 | €62,212 | = | 0.0% |
| Financial debts | 170/4 | €62,212 | €62,212 | = | 0.0% |
| Amounts payable within one year | 42/48 | €65,819 | €78,573 | +€12,755 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €20,369 | €41,475 | +€21,106 | +104% |
| Trade debts | 44 | €659 | €3,243 | +€2,583 | +392% |
| Suppliers | 440/4 | €659 | €3,243 | +€2,583 | +392% |
| Taxes, remuneration and social security | 45 | €9,873 | €2,080 | -€7,793 | -78.9% |
| Taxes | 450/3 | €9,873 | €2,080 | -€7,793 | -78.9% |
| Other amounts payable | 47/48 | €34,918 | €31,776 | -€3,142 | -9.0% |
| Accrued charges and deferred income | 492/3 | - | €4,790 | +€4,790 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,272 | €1,242 | -€30 | -2.4% |
| Other operating charges | 640/8 | €998 | €816 | -€182 | -18.2% |
| Gross operating margin | 9900 | €13,995 | €24,225 | +€10,230 | +73.1% |
| Operating profit (loss) | 9901 | €11,724 | €22,167 | +€10,442 | +89.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €110 | €5,780 | +€5,670 | +5,155% |
| Recurring financial charges | 65 | €110 | €5,780 | +€5,670 | +5,155% |
| Profit (loss) for the period before taxes | 9903 | €11,615 | €16,387 | +€4,773 | +41.1% |
| Income taxes | 67/77 | €4,252 | €5,869 | +€1,616 | +38.0% |
| Profit (loss) for the period | 9904 | €7,362 | €10,518 | +€3,156 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,362 | €10,518 | +€3,156 | +42.9% |
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 26 October 2026 via checked.be.