GC CONCEPT: 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 CONCEPT
Largest movements
- Receivables within one year -€27,985
down €27,985 (-42.9%), from €65,291 to €37,306
of which Other amounts receivable: -€19,652
- Cash -€21,321
down €21,321 (-79.7%), from €26,749 to €5,429
mainly Debts after one year (-€50,490) and Short-term financial debts (-€25,000)
- Debts after one year -€50,490
down €50,490 (-7.6%), from €661,129 to €610,639
of which Other amounts payable: -€50,490
- Reserves +€38,523
up €38,523 (+6.7%), from €578,987 to €617,509
of which Distributable reserves: +€38,523
- Short-term financial debts -€25,000
down €25,000 (-100%), from €25,000 to €0
- Financial income +€24,941
up €24,941 (+277,119%), from €9 to €24,950
- Other operating charges -€5,650
down €5,650 (-83.5%), from €6,764 to €1,114
- Taxes +€3,168
up €3,168 (+58.5%), from €5,417 to €8,585
- Gross operating margin -€2,514
down €2,514 (-8.2%), from €30,689 to €28,175
- Financial charges -€1,369
down €1,369 (-23.0%), from €5,942 to €4,574
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 | €1,602,426 | €1,561,802 | -€40,624 | -2.5% |
| Fixed assets | 21/28 | €1,510,386 | €1,509,987 | -€398 | 0.0% |
| Tangible fixed assets | 22/27 | €613 | €284 | -€329 | -53.7% |
| Furniture and vehicles | 24 | €613 | €284 | -€329 | -53.7% |
| Financial fixed assets | 28 | €1,509,773 | €1,509,704 | -€69 | 0.0% |
| Current assets | 29/58 | €92,041 | €51,814 | -€40,226 | -43.7% |
| Amounts receivable within one year | 40/41 | €65,291 | €37,306 | -€27,985 | -42.9% |
| Trade receivables | 40 | €27,781 | €19,448 | -€8,333 | -30.0% |
| Other amounts receivable | 41 | €37,511 | €17,858 | -€19,652 | -52.4% |
| Cash at bank and in hand | 54/58 | €26,749 | €5,429 | -€21,321 | -79.7% |
| Deferred charges and accrued income | 490/1 | €0 | €9,080 | +€9,080 | |
| Total equity and liabilities | 10/49 | €1,602,426 | €1,561,802 | -€40,624 | -2.5% |
| Equity | 10/15 | €903,987 | €942,509 | +€38,523 | +4.3% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Reserves | 13 | €578,987 | €617,509 | +€38,523 | +6.7% |
| Non-distributable reserves | 130/1 | €32,500 | €32,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32,500 | €32,500 | = | 0.0% |
| Distributable reserves | 133 | €546,487 | €585,009 | +€38,523 | +7.0% |
| Amounts payable | 17/49 | €698,440 | €619,292 | -€79,147 | -11.3% |
| Amounts payable after more than one year | 17 | €661,129 | €610,639 | -€50,490 | -7.6% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €661,129 | €610,639 | -€50,490 | -7.6% |
| Amounts payable within one year | 42/48 | €37,311 | €8,653 | -€28,657 | -76.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €25,000 | €0 | -€25,000 | -100% |
| Other loans | 439 | €25,000 | €0 | -€25,000 | -100% |
| Trade debts | 44 | €9,297 | €3,727 | -€5,569 | -59.9% |
| Suppliers | 440/4 | €9,297 | €3,727 | -€5,569 | -59.9% |
| Taxes, remuneration and social security | 45 | €3,014 | €4,926 | +€1,912 | +63.4% |
| Taxes | 450/3 | €3,014 | €4,926 | +€1,912 | +63.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €438 | €329 | -€109 | -24.8% |
| Other operating charges | 640/8 | €6,764 | €1,114 | -€5,650 | -83.5% |
| Gross operating margin | 9900 | €30,689 | €28,175 | -€2,514 | -8.2% |
| Operating profit (loss) | 9901 | €23,487 | €26,732 | +€3,245 | +13.8% |
| Financial income | 75/76B | €9 | €24,950 | +€24,941 | +277,119% |
| Recurring financial income | 75 | €9 | €24,950 | +€24,941 | +277,119% |
| Financial charges | 65/66B | €5,942 | €4,574 | -€1,369 | -23.0% |
| Recurring financial charges | 65 | €5,942 | €4,574 | -€1,369 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €17,554 | €47,108 | +€29,554 | +168% |
| Income taxes | 67/77 | €5,417 | €8,585 | +€3,168 | +58.5% |
| Profit (loss) for the period | 9904 | €12,136 | €38,523 | +€26,386 | +217% |
| Profit (loss) for the period to be appropriated | 9905 | €12,136 | €38,523 | +€26,386 | +217% |
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.