GC DEVELOPMENTS: 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 DEVELOPMENTS
Largest movements
- Tangible fixed assets +€262,604
up €262,604 (+7841.8%), from €3,349 to €265,953
of which Land and buildings: +€263,782
- Cash +€34,252
up €34,252 (+932.1%), from €3,675 to €37,927
mainly Debts after one year (+€256,213) and Net result for the year (+€30,597)
- Receivables within one year +€15,028
up €15,028 (+118.8%), from €12,645 to €27,672
of which Trade receivables: +€12,269
- Deferred charges and accrued income -€7,901
down €7,901 (-69.5%), from €11,366 to €3,465
- Debts after one year +€256,213
new in 2025: €256,213
- Reserves +€29,764
up €29,764 (+183.5%), from €16,224 to €45,989
- Current portion of long-term debt +€11,063
new in 2025: €11,063
- Tax, wage and social debts +€7,512
up €7,512 (+67.5%), from €11,124 to €18,636
of which Taxes: +€7,512
- Gross operating margin +€43,499
up €43,499 (+206.3%), from €21,084 to €64,583
- Depreciation +€14,007
up €14,007 (+7536.6%), from €186 to €14,193
- Financial charges +€9,487
up €9,487 (+6926.5%), from €137 to €9,623
- Taxes +€4,360
up €4,360 (+104.7%), from €4,164 to €8,524
- Other operating charges +€1,259
up €1,259 (+325.0%), from €387 to €1,646
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 | €31,034 | €335,018 | +€303,983 | +979.5% |
| Fixed assets | 21/28 | €3,349 | €265,953 | +€262,604 | +7841.8% |
| Tangible fixed assets | 22/27 | €3,349 | €265,953 | +€262,604 | +7841.8% |
| Land and buildings | 22 | - | €263,782 | +€263,782 | |
| Furniture and vehicles | 24 | €3,349 | €2,171 | -€1,178 | -35.2% |
| Current assets | 29/58 | €27,686 | €69,065 | +€41,379 | +149.5% |
| Amounts receivable within one year | 40/41 | €12,645 | €27,672 | +€15,028 | +118.8% |
| Trade receivables | 40 | €12,645 | €24,914 | +€12,269 | +97.0% |
| Other amounts receivable | 41 | - | €2,758 | +€2,758 | |
| Cash at bank and in hand | 54/58 | €3,675 | €37,927 | +€34,252 | +932.1% |
| Deferred charges and accrued income | 490/1 | €11,366 | €3,465 | -€7,901 | -69.5% |
| Total equity and liabilities | 10/49 | €31,034 | €335,018 | +€303,983 | +979.5% |
| Equity | 10/15 | €17,724 | €47,489 | +€29,764 | +167.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €16,224 | €45,989 | +€29,764 | +183.5% |
| Distributable reserves | 133 | €16,224 | €45,989 | +€29,764 | +183.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,310 | €287,529 | +€274,219 | +2060.2% |
| Amounts payable after more than one year | 17 | - | €256,213 | +€256,213 | |
| Financial debts | 170/4 | - | €256,213 | +€256,213 | |
| Amounts payable within one year | 42/48 | €12,959 | €31,316 | +€18,357 | +141.7% |
| Current portion of amounts payable after more than one year | 42 | - | €11,063 | +€11,063 | |
| Trade debts | 44 | €194 | €471 | +€277 | +143.0% |
| Suppliers | 440/4 | €194 | €471 | +€277 | +143.0% |
| Taxes, remuneration and social security | 45 | €11,124 | €18,636 | +€7,512 | +67.5% |
| Taxes | 450/3 | €9,689 | €17,201 | +€7,512 | +77.5% |
| Remuneration and social security | 454/9 | €1,435 | €1,435 | = | 0.0% |
| Other amounts payable | 47/48 | €1,641 | €1,146 | -€495 | -30.2% |
| Accrued charges and deferred income | 492/3 | €352 | €0 | -€352 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186 | €14,193 | +€14,007 | +7536.6% |
| Other operating charges | 640/8 | €387 | €1,646 | +€1,259 | +325.0% |
| Gross operating margin | 9900 | €21,084 | €64,583 | +€43,499 | +206.3% |
| Operating profit (loss) | 9901 | €20,511 | €48,744 | +€28,234 | +137.7% |
| Financial income | 75/76B | €15 | €1 | -€14 | -94.3% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -94.3% |
| Financial charges | 65/66B | €137 | €9,623 | +€9,487 | +6926.5% |
| Recurring financial charges | 65 | €137 | €9,623 | +€9,487 | +6926.5% |
| Profit (loss) for the period before taxes | 9903 | €20,389 | €39,122 | +€18,733 | +91.9% |
| Income taxes | 67/77 | €4,164 | €8,524 | +€4,360 | +104.7% |
| Profit (loss) for the period | 9904 | €16,224 | €30,597 | +€14,373 | +88.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,224 | €30,597 | +€14,373 | +88.6% |
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 10 October 2026 via checked.be.