GCHC: what changed
Two fiscal 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.
GCHC
Largest movements
- Receivables after one year -€170,298
down €170,298 (-32.8%), from €519,133 to €348,835
- Cash +€101,813
up €101,813 (+266.2%), from €38,251 to €140,064
mainly Net result for the year (+€244,659) and Receivables after one year (+€170,298)
- Current investments +€76,845
up €76,845 (+42.9%), from €179,062 to €255,907
- Tangible fixed assets -€68,932
down €68,932 (-3.5%), from €2.0m to €1.9m
of which Land and buildings: -€64,663
- Reserves -€77,280
down €77,280 (-5.2%), from €1.5m to €1.4m
- Debts after one year -€61,255
down €61,255 (-8.7%), from €706,424 to €645,169
of which Financial debts: -€60,704
- Other debts +€56,142
up €56,142 (+21.0%), from €267,606 to €323,748
- Gross operating margin -€69,084
down €69,084 (-13.2%), from €524,154 to €455,071
- Taxes -€23,917
down €23,917 (-16.9%), from €141,145 to €117,228
- Financial income -€7,412
down €7,412 (-44.2%), from €16,772 to €9,359
- Financial charges -€6,141
down €6,141 (-24.3%), from €25,238 to €19,097
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 | €2,890,058 | €2,797,980 | -€92,078 | -3.2% |
| Fixed assets | 21/28 | €2,049,919 | €1,980,987 | -€68,932 | -3.4% |
| Tangible fixed assets | 22/27 | €1,954,568 | €1,885,636 | -€68,932 | -3.5% |
| Land and buildings | 22 | €1,900,627 | €1,835,965 | -€64,663 | -3.4% |
| Plant, machinery and equipment | 23 | €1,971 | €1,456 | -€515 | -26.1% |
| Furniture and vehicles | 24 | €49,107 | €45,353 | -€3,754 | -7.6% |
| Other tangible fixed assets | 26 | €2,862 | €2,862 | = | 0.0% |
| Financial fixed assets | 28 | €95,351 | €95,351 | = | 0.0% |
| Current assets | 29/58 | €840,139 | €816,993 | -€23,146 | -2.8% |
| Amounts receivable after more than one year | 29 | €519,133 | €348,835 | -€170,298 | -32.8% |
| Other amounts receivable | 291 | €519,133 | €348,835 | -€170,298 | -32.8% |
| Amounts receivable within one year | 40/41 | €81,377 | €65,497 | -€15,880 | -19.5% |
| Trade receivables | 40 | €46,838 | €2,432 | -€44,406 | -94.8% |
| Other amounts receivable | 41 | €34,538 | €63,065 | +€28,526 | +82.6% |
| Current investments | 50/53 | €179,062 | €255,907 | +€76,845 | +42.9% |
| Cash at bank and in hand | 54/58 | €38,251 | €140,064 | +€101,813 | +266.2% |
| Deferred charges and accrued income | 490/1 | €22,316 | €6,690 | -€15,626 | -70.0% |
| Total equity and liabilities | 10/49 | €2,890,058 | €2,797,980 | -€92,078 | -3.2% |
| Equity | 10/15 | €1,771,326 | €1,694,046 | -€77,280 | -4.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,487,225 | €1,409,946 | -€77,280 | -5.2% |
| Distributable reserves | 133 | €1,487,225 | €1,409,946 | -€77,280 | -5.2% |
| Profit (loss) carried forward | 14 | €271,700 | €271,700 | = | 0.0% |
| Amounts payable | 17/49 | €1,118,732 | €1,103,934 | -€14,798 | -1.3% |
| Amounts payable after more than one year | 17 | €706,424 | €645,169 | -€61,255 | -8.7% |
| Financial debts | 170/4 | €680,134 | €619,431 | -€60,704 | -8.9% |
| Other amounts payable | 178/9 | €26,290 | €25,739 | -€551 | -2.1% |
| Amounts payable within one year | 42/48 | €408,766 | €456,711 | +€47,945 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €59,475 | €60,704 | +€1,229 | +2.1% |
| Trade debts | 44 | €1,259 | €9,835 | +€8,576 | +681.3% |
| Suppliers | 440/4 | €1,259 | €9,835 | +€8,576 | +681.3% |
| Taxes, remuneration and social security | 45 | €80,426 | €62,423 | -€18,003 | -22.4% |
| Taxes | 450/3 | €80,426 | €62,423 | -€18,003 | -22.4% |
| Other amounts payable | 47/48 | €267,606 | €323,748 | +€56,142 | +21.0% |
| Accrued charges and deferred income | 492/3 | €3,542 | €2,054 | -€1,488 | -42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,854 | €77,666 | +€812 | +1.1% |
| Other operating charges | 640/8 | €5,379 | €5,779 | +€400 | +7.4% |
| Gross operating margin | 9900 | €524,154 | €455,071 | -€69,084 | -13.2% |
| Operating profit (loss) | 9901 | €441,921 | €371,626 | -€70,296 | -15.9% |
| Financial income | 75/76B | €16,772 | €9,359 | -€7,412 | -44.2% |
| Recurring financial income | 75 | €16,772 | €9,359 | -€7,412 | -44.2% |
| Financial charges | 65/66B | €25,238 | €19,097 | -€6,141 | -24.3% |
| Recurring financial charges | 65 | €25,238 | €19,097 | -€6,141 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €433,455 | €361,887 | -€71,567 | -16.5% |
| Income taxes | 67/77 | €141,145 | €117,228 | -€23,917 | -16.9% |
| Profit (loss) for the period | 9904 | €292,310 | €244,659 | -€47,651 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €292,310 | €244,659 | -€47,651 | -16.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.