GCC: 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.
GCC
Largest movements
- Cash +€53,246
up €53,246 (+59.8%), from €89,045 to €142,291
mainly Net result for the year (+€93,274) and Depreciation (+€25,379)
- Receivables within one year +€34,246
up €34,246 (+613.3%), from €5,584 to €39,831
of which Other amounts receivable: +€34,803
- Tangible fixed assets -€17,203
down €17,203 (-6.2%), from €279,438 to €262,235
of which Land and buildings: -€18,561
- Reserves +€78,492
up €78,492 (+80.1%), from €97,937 to €176,429
of which Distributable reserves: +€78,492
- Other debts +€14,043
up €14,043 (+20.1%), from €69,885 to €83,928
- Current portion of long-term debt -€10,653
down €10,653 (-65.8%), from €16,199 to €5,546
- Debts after one year -€5,546
no longer reported in 2025 (was €5,546)
- Gross operating margin +€43,152
up €43,152 (+42.4%), from €101,822 to €144,973
- Taxes +€5,259
up €5,259 (+27.6%), from €19,088 to €24,348
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 | €375,087 | €445,471 | +€70,384 | +18.8% |
| Fixed assets | 21/28 | €279,643 | €262,440 | -€17,203 | -6.2% |
| Tangible fixed assets | 22/27 | €279,438 | €262,235 | -€17,203 | -6.2% |
| Land and buildings | 22 | €277,676 | €259,115 | -€18,561 | -6.7% |
| Furniture and vehicles | 24 | €1,762 | €3,120 | +€1,358 | +77.1% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €95,444 | €183,031 | +€87,587 | +91.8% |
| Amounts receivable within one year | 40/41 | €5,584 | €39,831 | +€34,246 | +613.3% |
| Trade receivables | 40 | €557 | - | -€557 | |
| Other amounts receivable | 41 | €5,027 | €39,831 | +€34,803 | +692.3% |
| Cash at bank and in hand | 54/58 | €89,045 | €142,291 | +€53,246 | +59.8% |
| Deferred charges and accrued income | 490/1 | €815 | €909 | +€94 | +11.6% |
| Total equity and liabilities | 10/49 | €375,087 | €445,471 | +€70,384 | +18.8% |
| Equity | 10/15 | €120,331 | €198,823 | +€78,492 | +65.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €97,937 | €176,429 | +€78,492 | +80.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €96,077 | €174,569 | +€78,492 | +81.7% |
| Profit (loss) carried forward | 14 | €3,794 | €3,794 | = | 0.0% |
| Amounts payable | 17/49 | €254,755 | €246,647 | -€8,108 | -3.2% |
| Amounts payable after more than one year | 17 | €5,546 | - | -€5,546 | |
| Financial debts | 170/4 | €5,546 | - | -€5,546 | |
| Amounts payable within one year | 42/48 | €249,209 | €246,647 | -€2,562 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €16,199 | €5,546 | -€10,653 | -65.8% |
| Trade debts | 44 | €149,888 | €146,899 | -€2,988 | -2.0% |
| Suppliers | 440/4 | €149,888 | €146,899 | -€2,988 | -2.0% |
| Taxes, remuneration and social security | 45 | €13,237 | €10,274 | -€2,963 | -22.4% |
| Taxes | 450/3 | €6,037 | €10,274 | +€4,237 | +70.2% |
| Remuneration and social security | 454/9 | €7,200 | - | -€7,200 | |
| Other amounts payable | 47/48 | €69,885 | €83,928 | +€14,043 | +20.1% |
| Remuneration, social security and pensions | 62 | €108 | - | -€108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,332 | €25,379 | +€1,048 | +4.3% |
| Other operating charges | 640/8 | €1,204 | €1,293 | +€89 | +7.4% |
| Gross operating margin | 9900 | €101,822 | €144,973 | +€43,152 | +42.4% |
| Operating profit (loss) | 9901 | €76,178 | €118,301 | +€42,123 | +55.3% |
| Financial income | 75/76B | €0 | €24 | +€24 | +11950.0% |
| Recurring financial income | 75 | €0 | €24 | +€24 | +11950.0% |
| Financial charges | 65/66B | €1,344 | €704 | -€639 | -47.6% |
| Recurring financial charges | 65 | €1,344 | €704 | -€639 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | €74,835 | €117,621 | +€42,786 | +57.2% |
| Income taxes | 67/77 | €19,088 | €24,348 | +€5,259 | +27.6% |
| Profit (loss) for the period | 9904 | €55,747 | €93,274 | +€37,527 | +67.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,747 | €93,274 | +€37,527 | +67.3% |
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.