GC: 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.
GC
Largest movements
- Current investments -€76,000
down €76,000 (-71.7%), from €106,000 to €30,000
- Cash +€46,014
up €46,014 (+157.2%), from €29,275 to €75,289
mainly Current investments (+€76,000) and Net result for the year (+€59,642)
- Deferred charges and accrued income +€9,614
up €9,614 (+461.1%), from €2,085 to €11,699
- Receivables within one year -€5,317
down €5,317 (-28.3%), from €18,770 to €13,452
of which Trade receivables: -€16,045
- Tangible fixed assets +€1,771
up €1,771 (+9.0%), from €19,690 to €21,461
of which Plant, machinery and equipment: +€1,366
- Reserves -€83,286
down €83,286 (-50.5%), from €165,005 to €81,718
- Other debts +€56,762
up €56,762 (+4237.7%), from €1,339 to €58,101
- Trade debts +€2,304
up €2,304 (+45.4%), from €5,079 to €7,383
- Gross operating margin +€12,968
up €12,968 (+19.4%), from €66,787 to €79,756
- Taxes +€2,626
up €2,626 (+17.4%), from €15,123 to €17,748
- Financial income -€2,155
down €2,155 (-63.2%), from €3,407 to €1,252
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 | €176,424 | €152,203 | -€24,221 | -13.7% |
| Formation expenses | 20 | €604 | €302 | -€303 | -50.1% |
| Fixed assets | 21/28 | €19,690 | €21,461 | +€1,771 | +9.0% |
| Tangible fixed assets | 22/27 | €19,690 | €21,461 | +€1,771 | +9.0% |
| Land and buildings | 22 | €2,285 | €1,959 | -€327 | -14.3% |
| Plant, machinery and equipment | 23 | - | €1,366 | +€1,366 | |
| Furniture and vehicles | 24 | €17,404 | €18,136 | +€732 | +4.2% |
| Current assets | 29/58 | €156,130 | €130,440 | -€25,690 | -16.5% |
| Amounts receivable within one year | 40/41 | €18,770 | €13,452 | -€5,317 | -28.3% |
| Trade receivables | 40 | €16,870 | €825 | -€16,045 | -95.1% |
| Other amounts receivable | 41 | €1,900 | €12,627 | +€10,728 | +564.7% |
| Current investments | 50/53 | €106,000 | €30,000 | -€76,000 | -71.7% |
| Cash at bank and in hand | 54/58 | €29,275 | €75,289 | +€46,014 | +157.2% |
| Deferred charges and accrued income | 490/1 | €2,085 | €11,699 | +€9,614 | +461.1% |
| Total equity and liabilities | 10/49 | €176,424 | €152,203 | -€24,221 | -13.7% |
| Equity | 10/15 | €170,005 | €86,718 | -€83,286 | -49.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €165,005 | €81,718 | -€83,286 | -50.5% |
| Distributable reserves | 133 | €165,005 | €81,718 | -€83,286 | -50.5% |
| Amounts payable | 17/49 | €6,419 | €65,484 | +€59,066 | +920.2% |
| Amounts payable within one year | 42/48 | €6,419 | €65,484 | +€59,066 | +920.2% |
| Trade debts | 44 | €5,079 | €7,383 | +€2,304 | +45.4% |
| Suppliers | 440/4 | €5,079 | €7,383 | +€2,304 | +45.4% |
| Other amounts payable | 47/48 | €1,339 | €58,101 | +€56,762 | +4237.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,337 | €1,369 | +€32 | +2.4% |
| Other operating charges | 640/8 | €1,531 | €2,199 | +€668 | +43.6% |
| Gross operating margin | 9900 | €66,787 | €79,756 | +€12,968 | +19.4% |
| Operating profit (loss) | 9901 | €63,919 | €76,188 | +€12,268 | +19.2% |
| Financial income | 75/76B | €3,407 | €1,252 | -€2,155 | -63.2% |
| Recurring financial income | 75 | €3,407 | €1,252 | -€2,155 | -63.2% |
| Financial charges | 65/66B | €127 | €50 | -€77 | -60.6% |
| Recurring financial charges | 65 | €127 | €50 | -€77 | -60.6% |
| Profit (loss) for the period before taxes | 9903 | €67,199 | €77,390 | +€10,190 | +15.2% |
| Income taxes | 67/77 | €15,123 | €17,748 | +€2,626 | +17.4% |
| Profit (loss) for the period | 9904 | €52,077 | €59,642 | +€7,565 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,077 | €59,642 | +€7,565 | +14.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.