GC MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year -€20,408
down €20,408 (-38.8%), from €52,534 to €32,126
- Cash -€14,835
down €14,835 (-5.3%), from €280,246 to €265,410
mainly Contributions, distributions and other (-€320,000) and Investment in fixed assets (net) (-€5,507)
- Profit (loss) carried forward -€261,960
down €261,960 (-99.0%), from €264,695 to €2,735
- Other debts +€226,000
up €226,000 (+240.4%), from €94,000 to €320,000
- Financial income -€115,730
down €115,730 (-95.9%), from €120,702 to €4,972
of which Financial income: -€113,150
- Gross operating margin +€4,581
up €4,581 (+6.7%), from €68,473 to €73,054
- Taxes +€1,649
up €1,649 (+11.2%), from €14,769 to €16,419
- Financial charges -€1,524
down €1,524 (-66.9%), from €2,280 to €756
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 | €381,953 | €349,036 | -€32,917 | -8.6% |
| Fixed assets | 21/28 | €44,615 | €48,446 | +€3,831 | +8.6% |
| Tangible fixed assets | 22/27 | €2,615 | €5,446 | +€2,831 | +108.3% |
| Plant, machinery and equipment | 23 | €1,393 | €2,308 | +€914 | +65.6% |
| Furniture and vehicles | 24 | €1,222 | €3,138 | +€1,917 | +156.9% |
| Financial fixed assets | 28 | €42,000 | €43,000 | +€1,000 | +2.4% |
| Current assets | 29/58 | €337,338 | €300,590 | -€36,748 | -10.9% |
| Amounts receivable within one year | 40/41 | €52,534 | €32,126 | -€20,408 | -38.8% |
| Other amounts receivable | 41 | €52,534 | €32,126 | -€20,408 | -38.8% |
| Cash at bank and in hand | 54/58 | €280,246 | €265,410 | -€14,835 | -5.3% |
| Deferred charges and accrued income | 490/1 | €4,558 | €3,054 | -€1,505 | -33.0% |
| Total equity and liabilities | 10/49 | €381,953 | €349,036 | -€32,917 | -8.6% |
| Equity | 10/15 | €285,155 | €23,195 | -€261,960 | -91.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,695 | €2,735 | -€261,960 | -99.0% |
| Amounts payable | 17/49 | €96,798 | €325,841 | +€229,043 | +236.6% |
| Amounts payable within one year | 42/48 | €95,000 | €322,419 | +€227,419 | +239.4% |
| Taxes, remuneration and social security | 45 | €1,000 | €2,419 | +€1,419 | +141.9% |
| Taxes | 450/3 | €1,000 | €2,419 | +€1,419 | +141.9% |
| Other amounts payable | 47/48 | €94,000 | €320,000 | +€226,000 | +240.4% |
| Accrued charges and deferred income | 492/3 | €1,798 | €3,422 | +€1,624 | +90.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,553 | €1,676 | +€123 | +8.0% |
| Other operating charges | 640/8 | €718 | €1,135 | +€418 | +58.2% |
| Gross operating margin | 9900 | €68,473 | €73,054 | +€4,581 | +6.7% |
| Operating profit (loss) | 9901 | €66,203 | €70,242 | +€4,039 | +6.1% |
| Financial income | 75/76B | €120,702 | €4,972 | -€115,730 | -95.9% |
| Recurring financial income | 75 | €118,122 | €4,972 | -€113,150 | -95.8% |
| Non-recurring financial income | 76B | €2,580 | - | -€2,580 | |
| Financial charges | 65/66B | €2,280 | €756 | -€1,524 | -66.9% |
| Recurring financial charges | 65 | €2,280 | €756 | -€1,524 | -66.9% |
| Profit (loss) for the period before taxes | 9903 | €184,625 | €74,459 | -€110,166 | -59.7% |
| Income taxes | 67/77 | €14,769 | €16,419 | +€1,649 | +11.2% |
| Profit (loss) for the period | 9904 | €169,855 | €58,040 | -€111,815 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €169,855 | €58,040 | -€111,815 | -65.8% |
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 12 October 2026 via checked.be.