GCK: 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.
GCK
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-81.3%), from €1.2m to €230,548
- Tangible fixed assets +€435,685
up €435,685 (+21.9%), from €2.0m to €2.4m
of which Land and buildings: +€437,686
- Cash -€198,724
down €198,724 (-94.8%), from €209,636 to €10,913
mainly Other debts (-€775,352) and Investment in fixed assets (net) (-€499,012)
- Other debts -€775,352
down €775,352 (-89.8%), from €863,680 to €88,328
- Trade debts -€87,410
down €87,410 (-96.6%), from €90,452 to €3,042
- Financial income -€5,848
down €5,848 (-8.1%), from €72,370 to €66,522
- Depreciation +€2,097
up €2,097 (+3.7%), from €56,230 to €58,327
- Gross operating margin +€2,063
up €2,063 (+1.1%), from €194,315 to €196,378
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 | €7,281,055 | €6,485,284 | -€795,771 | -10.9% |
| Fixed assets | 21/28 | €5,136,207 | €5,576,893 | +€440,685 | +8.6% |
| Tangible fixed assets | 22/27 | €1,986,207 | €2,421,893 | +€435,685 | +21.9% |
| Land and buildings | 22 | €1,974,298 | €2,411,983 | +€437,686 | +22.2% |
| Plant, machinery and equipment | 23 | €11,910 | €9,909 | -€2,000 | -16.8% |
| Financial fixed assets | 28 | €3,150,000 | €3,155,000 | +€5,000 | +0.2% |
| Current assets | 29/58 | €2,144,848 | €908,391 | -€1.2m | -57.6% |
| Amounts receivable within one year | 40/41 | €1,232,799 | €230,548 | -€1.0m | -81.3% |
| Other amounts receivable | 41 | €1,232,799 | €230,548 | -€1.0m | -81.3% |
| Current investments | 50/53 | €631,528 | €594,392 | -€37,136 | -5.9% |
| Cash at bank and in hand | 54/58 | €209,636 | €10,913 | -€198,724 | -94.8% |
| Deferred charges and accrued income | 490/1 | €70,885 | €72,539 | +€1,654 | +2.3% |
| Total equity and liabilities | 10/49 | €7,281,055 | €6,485,284 | -€795,771 | -10.9% |
| Equity | 10/15 | €3,379,284 | €3,433,779 | +€54,495 | +1.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,360,692 | €3,415,187 | +€54,495 | +1.6% |
| Tax-exempt reserves | 132 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €3,357,192 | €3,411,687 | +€54,495 | +1.6% |
| Provisions and deferred taxes | 16 | €2,935,297 | €2,894,704 | -€40,593 | -1.4% |
| Provisions for liabilities and charges | 160/5 | €2,935,297 | €2,894,704 | -€40,593 | -1.4% |
| Other liabilities and charges | 164/5 | €2,935,297 | €2,894,704 | -€40,593 | -1.4% |
| Amounts payable | 17/49 | €966,474 | €156,801 | -€809,673 | -83.8% |
| Amounts payable within one year | 42/48 | €960,138 | €96,640 | -€863,498 | -89.9% |
| Trade debts | 44 | €90,452 | €3,042 | -€87,410 | -96.6% |
| Suppliers | 440/4 | €90,452 | €3,042 | -€87,410 | -96.6% |
| Taxes, remuneration and social security | 45 | €6,006 | €5,270 | -€736 | -12.3% |
| Taxes | 450/3 | €6,006 | €5,270 | -€736 | -12.3% |
| Other amounts payable | 47/48 | €863,680 | €88,328 | -€775,352 | -89.8% |
| Accrued charges and deferred income | 492/3 | €6,336 | €60,161 | +€53,825 | +849.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,230 | €58,327 | +€2,097 | +3.7% |
| Other operating charges | 640/8 | €5,317 | €5,916 | +€599 | +11.3% |
| Gross operating margin | 9900 | €194,315 | €196,378 | +€2,063 | +1.1% |
| Operating profit (loss) | 9901 | €132,768 | €132,134 | -€633 | -0.5% |
| Financial income | 75/76B | €72,370 | €66,522 | -€5,848 | -8.1% |
| Recurring financial income | 75 | €72,370 | €66,522 | -€5,848 | -8.1% |
| Financial charges | 65/66B | €137,450 | €138,713 | +€1,262 | +0.9% |
| Recurring financial charges | 65 | €137,450 | €138,713 | +€1,262 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €67,687 | €59,944 | -€7,743 | -11.4% |
| Income taxes | 67/77 | €6,153 | €5,449 | -€704 | -11.4% |
| Profit (loss) for the period | 9904 | €61,534 | €54,495 | -€7,039 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €61,534 | €54,495 | -€7,039 | -11.4% |
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 4 October 2026 via checked.be.