GC2: 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.
GC2
Largest movements
- Cash +€19,142
up €19,142 (+30.2%), from €63,351 to €82,494
mainly Net result for the year (+€40,056) and Other debts (+€24,689)
- Receivables within one year +€16,864
up €16,864 (+50.6%), from €33,348 to €50,212
of which Trade receivables: +€12,447
- Deferred charges and accrued income -€7,886
down €7,886 (-82.8%), from €9,522 to €1,636
- Other debts +€24,689
up €24,689 (+672%), from €3,676 to €28,365
- Reserves +€11,692
up €11,692 (+10.8%), from €108,552 to €120,243
- Tax, wage and social debts -€7,347
down €7,347 (-71.0%), from €10,345 to €2,998
- Trade debts -€1,998
down €1,998 (-74.4%), from €2,685 to €687
- Gross operating margin +€43,702
up €43,702 (+196%), from €22,259 to €65,961
- Taxes +€13,751
up €13,751 (+376%), from €3,658 to €17,409
- Depreciation +€2,073
up €2,073 (+49.6%), from €4,183 to €6,256
- Write-downs +€828
new in 2025: €828
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 | €132,800 | €159,293 | +€26,494 | +19.9% |
| Fixed assets | 21/28 | €25,278 | €24,827 | -€451 | -1.8% |
| Tangible fixed assets | 22/27 | €25,278 | €24,827 | -€451 | -1.8% |
| Furniture and vehicles | 24 | €24,378 | €19,411 | -€4,967 | -20.4% |
| Other tangible fixed assets | 26 | €900 | €5,416 | +€4,516 | +502% |
| Current assets | 29/58 | €107,522 | €134,467 | +€26,945 | +25.1% |
| Stocks and contracts in progress | 3 | €1,301 | €125 | -€1,176 | -90.4% |
| Stocks | 30/36 | €1,301 | €125 | -€1,176 | -90.4% |
| Amounts receivable within one year | 40/41 | €33,348 | €50,212 | +€16,864 | +50.6% |
| Trade receivables | 40 | €28,057 | €40,504 | +€12,447 | +44.4% |
| Other amounts receivable | 41 | €5,291 | €9,707 | +€4,417 | +83.5% |
| Cash at bank and in hand | 54/58 | €63,351 | €82,494 | +€19,142 | +30.2% |
| Deferred charges and accrued income | 490/1 | €9,522 | €1,636 | -€7,886 | -82.8% |
| Total equity and liabilities | 10/49 | €132,800 | €159,293 | +€26,494 | +19.9% |
| Equity | 10/15 | €115,552 | €127,243 | +€11,692 | +10.1% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €108,552 | €120,243 | +€11,692 | +10.8% |
| Distributable reserves | 133 | €108,552 | €120,243 | +€11,692 | +10.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,248 | €32,050 | +€14,802 | +85.8% |
| Amounts payable within one year | 42/48 | €16,706 | €32,050 | +€15,344 | +91.8% |
| Trade debts | 44 | €2,685 | €687 | -€1,998 | -74.4% |
| Suppliers | 440/4 | €2,685 | €687 | -€1,998 | -74.4% |
| Taxes, remuneration and social security | 45 | €10,345 | €2,998 | -€7,347 | -71.0% |
| Taxes | 450/3 | €10,345 | €2,998 | -€7,347 | -71.0% |
| Other amounts payable | 47/48 | €3,676 | €28,365 | +€24,689 | +672% |
| Accrued charges and deferred income | 492/3 | €542 | €0 | -€542 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,183 | €6,256 | +€2,073 | +49.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €828 | +€828 | |
| Other operating charges | 640/8 | €1,605 | €1,455 | -€150 | -9.3% |
| Non-recurring operating charges | 66A | €6,671 | €0 | -€6,671 | -100% |
| Gross operating margin | 9900 | €22,259 | €65,961 | +€43,702 | +196% |
| Operating profit (loss) | 9901 | €9,800 | €57,423 | +€47,622 | +486% |
| Financial income | 75/76B | €233 | €8 | -€225 | -96.6% |
| Recurring financial income | 75 | €233 | €8 | -€225 | -96.6% |
| Financial charges | 65/66B | €303 | -€35 | -€338 | |
| Recurring financial charges | 65 | €303 | -€35 | -€338 | |
| Profit (loss) for the period before taxes | 9903 | €9,731 | €57,466 | +€47,735 | +491% |
| Income taxes | 67/77 | €3,658 | €17,409 | +€13,751 | +376% |
| Profit (loss) for the period | 9904 | €6,073 | €40,056 | +€33,983 | +560% |
| Profit (loss) for the period to be appropriated | 9905 | €6,073 | €40,056 | +€33,983 | +560% |
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 28 October 2026 via checked.be.