GC RETAIL HORECA: 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 RETAIL HORECA
Largest movements
- Receivables within one year -€316,280
down €316,280 (-41.2%), from €767,601 to €451,321
of which Trade receivables: -€575,402
- Cash +€50,126
up €50,126 (+12,382%), from €405 to €50,531
mainly Receivables within one year (+€316,280) and Other debts (+€220,284)
- Intangible fixed assets +€12,750
up €12,750 (+49.6%), from €25,685 to €38,435
- Trade debts -€338,323
down €338,323 (-69.8%), from €484,518 to €146,195
- Other debts +€220,284
up €220,284 (+140%), from €156,988 to €377,273
- Advances received -€95,114
no longer reported in 2025 (was €95,114)
- Debts after one year -€66,372
down €66,372 (-41.1%), from €161,303 to €94,931
- Tax, wage and social debts +€25,410
up €25,410 (+98.7%), from €25,748 to €51,158
- Gross operating margin +€323,452
up €323,452 (+136%), from €238,037 to €561,490
- Staff costs +€300,108
up €300,108 (+158%), from €189,472 to €489,580
- Depreciation +€7,129
up €7,129 (+20.1%), from €35,417 to €42,546
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 | €1,005,774 | €764,433 | -€241,341 | -24.0% |
| Fixed assets | 21/28 | €237,767 | €255,131 | +€17,364 | +7.3% |
| Intangible fixed assets | 21 | €25,685 | €38,435 | +€12,750 | +49.6% |
| Tangible fixed assets | 22/27 | €199,532 | €204,146 | +€4,614 | +2.3% |
| Plant, machinery and equipment | 23 | €108,585 | €91,183 | -€17,403 | -16.0% |
| Furniture and vehicles | 24 | €28,554 | €24,294 | -€4,260 | -14.9% |
| Other tangible fixed assets | 26 | €62,393 | €88,670 | +€26,277 | +42.1% |
| Financial fixed assets | 28 | €12,550 | €12,550 | = | 0.0% |
| Current assets | 29/58 | €768,006 | €509,302 | -€258,705 | -33.7% |
| Stocks and contracts in progress | 3 | - | €7,450 | +€7,450 | |
| Stocks | 30/36 | - | €7,450 | +€7,450 | |
| Amounts receivable within one year | 40/41 | €767,601 | €451,321 | -€316,280 | -41.2% |
| Trade receivables | 40 | €746,984 | €171,582 | -€575,402 | -77.0% |
| Other amounts receivable | 41 | €20,617 | €279,739 | +€259,122 | +1,257% |
| Cash at bank and in hand | 54/58 | €405 | €50,531 | +€50,126 | +12,382% |
| Total equity and liabilities | 10/49 | €1,005,774 | €764,433 | -€241,341 | -24.0% |
| Equity | 10/15 | €17,732 | €28,504 | +€10,772 | +60.8% |
| Contributions | 10/11 | €19,700 | €19,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,968 | €8,804 | +€10,772 | |
| Amounts payable | 17/49 | €988,041 | €735,928 | -€252,113 | -25.5% |
| Amounts payable after more than one year | 17 | €161,303 | €94,931 | -€66,372 | -41.1% |
| Financial debts | 170/4 | €161,303 | €94,931 | -€66,372 | -41.1% |
| Amounts payable within one year | 42/48 | €826,739 | €640,997 | -€185,741 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €64,371 | €66,372 | +€2,001 | +3.1% |
| Trade debts | 44 | €484,518 | €146,195 | -€338,323 | -69.8% |
| Suppliers | 440/4 | €484,518 | €146,195 | -€338,323 | -69.8% |
| Advances received on contracts in progress | 46 | €95,114 | - | -€95,114 | |
| Taxes, remuneration and social security | 45 | €25,748 | €51,158 | +€25,410 | +98.7% |
| Remuneration and social security | 454/9 | €25,748 | €51,158 | +€25,410 | +98.7% |
| Other amounts payable | 47/48 | €156,988 | €377,273 | +€220,284 | +140% |
| Remuneration, social security and pensions | 62 | €189,472 | €489,580 | +€300,108 | +158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,417 | €42,546 | +€7,129 | +20.1% |
| Other operating charges | 640/8 | €3,919 | €8,367 | +€4,448 | +114% |
| Gross operating margin | 9900 | €238,037 | €561,490 | +€323,452 | +136% |
| Operating profit (loss) | 9901 | €9,230 | €20,997 | +€11,768 | +127% |
| Financial income | 75/76B | - | €77 | +€77 | |
| Recurring financial income | 75 | - | €77 | +€77 | |
| Financial charges | 65/66B | €11,194 | €10,302 | -€892 | -8.0% |
| Recurring financial charges | 65 | €11,194 | €10,302 | -€892 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,964 | €10,772 | +€12,737 | |
| Profit (loss) for the period | 9904 | -€1,964 | €10,772 | +€12,737 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,964 | €10,772 | +€12,737 |
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 1 November 2026 via checked.be.