G3R: 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.
G3R
Largest movements
- Current investments +€1.4m
new in 2025: €1.4m
- Receivables after one year +€767,370
new in 2025: €767,370
- Financial fixed assets -€545,887
down €545,887 (-94.0%), from €580,887 to €35,000
- Receivables within one year +€36,832
up €36,832 (+145%), from €25,380 to €62,212
of which Other amounts receivable: +€38,858
- Cash -€28,494
down €28,494 (-81.0%), from €35,164 to €6,670
mainly Current investments (-€1.4m) and Receivables after one year (-€767,370)
- Profit (loss) carried forward +€1.8m
up €1.8m (+417%), from €434,264 to €2.2m
- Debts after one year -€138,569
down €138,569 (-40.5%), from €342,405 to €203,836
- Financial income +€1.7m
up €1.7m (+912%), from €187,205 to €1.9m
of which Non-recurring financial income: +€1.8m
- Gross operating margin -€203,855
down €203,855, from €196,740 to -€7,114
- Taxes -€30,929
down €30,929 (-99.5%), from €31,092 to €164
- Financial charges +€12,939
up €12,939 (+175%), from €7,379 to €20,317
- Depreciation +€7,269
up €7,269 (+16.6%), from €43,714 to €50,982
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 | €848,006 | €2,512,074 | +€1.7m | +196% |
| Fixed assets | 21/28 | €787,462 | €240,246 | -€547,216 | -69.5% |
| Tangible fixed assets | 22/27 | €206,575 | €205,246 | -€1,329 | -0.6% |
| Land and buildings | 22 | €206,575 | €164,527 | -€42,048 | -20.4% |
| Leasing and similar rights | 25 | - | €40,719 | +€40,719 | |
| Financial fixed assets | 28 | €580,887 | €35,000 | -€545,887 | -94.0% |
| Current assets | 29/58 | €60,544 | €2,271,829 | +€2.2m | +3,652% |
| Amounts receivable after more than one year | 29 | - | €767,370 | +€767,370 | |
| Other amounts receivable | 291 | - | €767,370 | +€767,370 | |
| Amounts receivable within one year | 40/41 | €25,380 | €62,212 | +€36,832 | +145% |
| Trade receivables | 40 | €13,161 | €11,136 | -€2,025 | -15.4% |
| Other amounts receivable | 41 | €12,219 | €51,076 | +€38,858 | +318% |
| Current investments | 50/53 | - | €1,425,065 | +€1.4m | |
| Cash at bank and in hand | 54/58 | €35,164 | €6,670 | -€28,494 | -81.0% |
| Deferred charges and accrued income | 490/1 | - | €10,511 | +€10,511 | |
| Total equity and liabilities | 10/49 | €848,006 | €2,512,074 | +€1.7m | +196% |
| Equity | 10/15 | €452,864 | €2,263,849 | +€1.8m | +400% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €434,264 | €2,245,249 | +€1.8m | +417% |
| Amounts payable | 17/49 | €395,142 | €248,226 | -€146,916 | -37.2% |
| Amounts payable after more than one year | 17 | €342,405 | €203,836 | -€138,569 | -40.5% |
| Financial debts | 170/4 | €342,405 | €203,836 | -€138,569 | -40.5% |
| Amounts payable within one year | 42/48 | €52,737 | €44,390 | -€8,347 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €24,317 | +€9,317 | +62.1% |
| Financial debts | 43 | €8,450 | €12,114 | +€3,664 | +43.4% |
| Credit institutions | 430/8 | €8,450 | €12,114 | +€3,664 | +43.4% |
| Trade debts | 44 | €6,039 | €7,264 | +€1,225 | +20.3% |
| Suppliers | 440/4 | €6,039 | €7,264 | +€1,225 | +20.3% |
| Taxes, remuneration and social security | 45 | €23,248 | €695 | -€22,553 | -97.0% |
| Taxes | 450/3 | €23,248 | €695 | -€22,553 | -97.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,714 | €50,982 | +€7,269 | +16.6% |
| Other operating charges | 640/8 | €1,443 | €4,033 | +€2,591 | +180% |
| Gross operating margin | 9900 | €196,740 | -€7,114 | -€203,855 | |
| Operating profit (loss) | 9901 | €151,584 | -€62,130 | -€213,714 | |
| Financial income | 75/76B | €187,205 | €1,893,595 | +€1.7m | +912% |
| Recurring financial income | 75 | €187,205 | €55,254 | -€131,951 | -70.5% |
| Non-recurring financial income | 76B | - | €1,838,342 | +€1.8m | |
| Financial charges | 65/66B | €7,379 | €20,317 | +€12,939 | +175% |
| Recurring financial charges | 65 | €7,379 | €20,317 | +€12,939 | +175% |
| Profit (loss) for the period before taxes | 9903 | €331,410 | €1,811,148 | +€1.5m | +446% |
| Income taxes | 67/77 | €31,092 | €164 | -€30,929 | -99.5% |
| Profit (loss) for the period | 9904 | €300,318 | €1,810,984 | +€1.5m | +503% |
| Profit (loss) for the period to be appropriated | 9905 | €300,318 | €1,810,984 | +€1.5m | +503% |
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 14 October 2026 via checked.be.