GC STABLES: 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 STABLES
Largest movements
- Deferred charges and accrued income +€62,167
up €62,167 (+15,149%), from €410 to €62,578
- Stocks and contracts +€30,000
up €30,000 (+5.0%), from €595,000 to €625,000
- Cash -€16,823
down €16,823 (-38.5%), from €43,690 to €26,867
mainly Deferred charges and accrued income (-€62,167) and Stocks and contracts (-€30,000)
- Receivables within one year +€15,557
up €15,557 (+188%), from €8,295 to €23,852
of which Trade receivables: +€9,795
- Advances received +€62,000
new in 2025: €62,000
- Debts after one year +€15,000
up €15,000 (+25.0%), from €60,000 to €75,000
- Other debts +€14,015
up €14,015 (+11.2%), from €124,637 to €138,651
- Tax, wage and social debts -€10,129
down €10,129 (-88.4%), from €11,452 to €1,324
of which Taxes: -€10,497
- Gross operating margin +€89,901
up €89,901, from -€74,352 to €15,549
- Financial charges +€4,748
up €4,748 (+147%), from €3,237 to €7,985
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 | €647,396 | €738,297 | +€90,902 | +14.0% |
| Current assets | 29/58 | €647,396 | €738,297 | +€90,902 | +14.0% |
| Stocks and contracts in progress | 3 | €595,000 | €625,000 | +€30,000 | +5.0% |
| Stocks | 30/36 | €595,000 | €625,000 | +€30,000 | +5.0% |
| Amounts receivable within one year | 40/41 | €8,295 | €23,852 | +€15,557 | +188% |
| Trade receivables | 40 | €1,884 | €11,679 | +€9,795 | +520% |
| Other amounts receivable | 41 | €6,411 | €12,174 | +€5,763 | +89.9% |
| Cash at bank and in hand | 54/58 | €43,690 | €26,867 | -€16,823 | -38.5% |
| Deferred charges and accrued income | 490/1 | €410 | €62,578 | +€62,167 | +15,149% |
| Total equity and liabilities | 10/49 | €647,396 | €738,297 | +€90,902 | +14.0% |
| Equity | 10/15 | €441,955 | €442,720 | +€765 | +0.2% |
| Contributions | 10/11 | €735,000 | €735,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€293,045 | -€292,280 | +€765 | +0.3% |
| Amounts payable | 17/49 | €205,441 | €295,577 | +€90,136 | +43.9% |
| Amounts payable after more than one year | 17 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Financial debts | 170/4 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Amounts payable within one year | 42/48 | €142,799 | €211,591 | +€68,792 | +48.2% |
| Trade debts | 44 | €6,710 | €9,616 | +€2,906 | +43.3% |
| Suppliers | 440/4 | €6,710 | €9,616 | +€2,906 | +43.3% |
| Advances received on contracts in progress | 46 | - | €62,000 | +€62,000 | |
| Taxes, remuneration and social security | 45 | €11,452 | €1,324 | -€10,129 | -88.4% |
| Taxes | 450/3 | €10,557 | €60 | -€10,497 | -99.4% |
| Remuneration and social security | 454/9 | €895 | €1,264 | +€369 | +41.2% |
| Other amounts payable | 47/48 | €124,637 | €138,651 | +€14,015 | +11.2% |
| Accrued charges and deferred income | 492/3 | €2,642 | €8,986 | +€6,344 | +240% |
| Remuneration, social security and pensions | 62 | €6,414 | €6,795 | +€381 | +5.9% |
| Other operating charges | 640/8 | €610 | €120 | -€490 | -80.3% |
| Gross operating margin | 9900 | -€74,352 | €15,549 | +€89,901 | |
| Operating profit (loss) | 9901 | -€81,376 | €8,634 | +€90,010 | |
| Financial income | 75/76B | €0 | €117 | +€117 | +89,692% |
| Recurring financial income | 75 | €0 | €117 | +€117 | +89,692% |
| Financial charges | 65/66B | €3,237 | €7,985 | +€4,748 | +147% |
| Recurring financial charges | 65 | €3,237 | €7,985 | +€4,748 | +147% |
| Profit (loss) for the period before taxes | 9903 | -€84,613 | €765 | +€85,378 | |
| Profit (loss) for the period | 9904 | -€84,613 | €765 | +€85,378 | |
| Profit (loss) for the period to be appropriated | 9905 | -€84,613 | €765 | +€85,378 |
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 25 October 2026 via checked.be.