GC LLN: what changed
GC LLN
Largest movements
- Tangible fixed assets -€9,643
down €9,643 (-11.6%), from €82,900 to €73,257
of which Other tangible fixed assets: -€8,508
- Cash +€8,639
up €8,639 (+167%), from €5,172 to €13,810
mainly Net result for the year (+€26,472) and Depreciation (+€16,360)
- Intangible fixed assets -€4,192
down €4,192 (-14.8%), from €28,371 to €24,179
- Receivables within one year -€1,610
down €1,610 (-23.8%), from €6,761 to €5,151
of which Trade receivables: -€1,921
- Profit (loss) carried forward +€26,472
up €26,472 (+46.0%), from -€57,587 to -€31,114
- Debts after one year -€19,960
down €19,960 (-31.8%), from €62,673 to €42,713
- Other debts -€9,066
down €9,066 (-17.1%), from €52,994 to €43,928
- Trade debts -€2,905
down €2,905 (-6.3%), from €45,748 to €42,843
- Tax, wage and social debts -€2,527
down €2,527 (-36.6%), from €6,896 to €4,369
of which Remuneration and social security: -€2,350
- Gross operating margin +€41,387
up €41,387 (+74.2%), from €55,809 to €97,196
- Staff costs -€22,680
down €22,680 (-37.2%), from €60,929 to €38,250
- Depreciation -€7,828
down €7,828 (-32.4%), from €24,189 to €16,360
- Other operating charges -€6,196
down €6,196 (-71.1%), from €8,718 to €2,522
- Financial charges -€5,968
down €5,968 (-30.5%), from €19,560 to €13,592
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €134,807 | €127,698 | -€7,108 | -5.3% |
| Formation expenses | 20 | €523 | €1,440 | +€916 | +175% |
| Fixed assets | 21/28 | €112,134 | €97,799 | -€14,335 | -12.8% |
| Intangible fixed assets | 21 | €28,371 | €24,179 | -€4,192 | -14.8% |
| Tangible fixed assets | 22/27 | €82,900 | €73,257 | -€9,643 | -11.6% |
| Plant, machinery and equipment | 23 | €18,124 | €16,990 | -€1,135 | -6.3% |
| Other tangible fixed assets | 26 | €64,775 | €56,267 | -€8,508 | -13.1% |
| Financial fixed assets | 28 | €863 | €363 | -€500 | -57.9% |
| Current assets | 29/58 | €22,150 | €28,460 | +€6,310 | +28.5% |
| Stocks and contracts in progress | 3 | €9,920 | €9,497 | -€423 | -4.3% |
| Stocks | 30/36 | €9,920 | €9,497 | -€423 | -4.3% |
| Amounts receivable within one year | 40/41 | €6,761 | €5,151 | -€1,610 | -23.8% |
| Trade receivables | 40 | €6,761 | €4,840 | -€1,921 | -28.4% |
| Other amounts receivable | 41 | - | €311 | +€311 | |
| Cash at bank and in hand | 54/58 | €5,172 | €13,810 | +€8,639 | +167% |
| Deferred charges and accrued income | 490/1 | €297 | €2 | -€295 | -99.3% |
| Total equity and liabilities | 10/49 | €134,807 | €127,698 | -€7,108 | -5.3% |
| Equity | 10/15 | -€52,587 | -€26,114 | +€26,472 | +50.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,587 | -€31,114 | +€26,472 | +46.0% |
| Amounts payable | 17/49 | €187,394 | €153,813 | -€33,581 | -17.9% |
| Amounts payable after more than one year | 17 | €62,673 | €42,713 | -€19,960 | -31.8% |
| Financial debts | 170/4 | €62,673 | €42,713 | -€19,960 | -31.8% |
| Amounts payable within one year | 42/48 | €124,721 | €111,100 | -€13,621 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €19,083 | €19,960 | +€877 | +4.6% |
| Trade debts | 44 | €45,748 | €42,843 | -€2,905 | -6.3% |
| Suppliers | 440/4 | €45,748 | €42,843 | -€2,905 | -6.3% |
| Taxes, remuneration and social security | 45 | €6,896 | €4,369 | -€2,527 | -36.6% |
| Taxes | 450/3 | €178 | - | -€178 | |
| Remuneration and social security | 454/9 | €6,718 | €4,369 | -€2,350 | -35.0% |
| Other amounts payable | 47/48 | €52,994 | €43,928 | -€9,066 | -17.1% |
| Remuneration, social security and pensions | 62 | €60,929 | €38,250 | -€22,680 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,189 | €16,360 | -€7,828 | -32.4% |
| Other operating charges | 640/8 | €8,718 | €2,522 | -€6,196 | -71.1% |
| Gross operating margin | 9900 | €55,809 | €97,196 | +€41,387 | +74.2% |
| Operating profit (loss) | 9901 | -€38,027 | €40,064 | +€78,091 | |
| Financial charges | 65/66B | €19,560 | €13,592 | -€5,968 | -30.5% |
| Recurring financial charges | 65 | €19,560 | €13,592 | -€5,968 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | -€57,587 | €26,472 | +€84,059 | |
| Profit (loss) for the period | 9904 | -€57,587 | €26,472 | +€84,059 | |
| Profit (loss) for the period to be appropriated | 9905 | -€57,587 | €26,472 | +€84,059 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.