GCS GROUP: 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.
GCS GROUP
Largest movements
- Receivables within one year +€129,696
up €129,696 (+48.7%), from €266,386 to €396,082
of which Trade receivables: +€164,041
- Tangible fixed assets -€14,008
down €14,008 (-2.3%), from €606,323 to €592,315
of which Furniture and vehicles: -€62,510
- Debts after one year -€103,825
down €103,825 (-28.7%), from €361,848 to €258,022
- Profit (loss) carried forward +€75,813
up €75,813, from -€544 to €75,270
- Current portion of long-term debt +€67,787
up €67,787 (+36.8%), from €183,962 to €251,749
- Trade debts +€53,943
up €53,943 (+81.3%), from €66,374 to €120,317
- Advances received +€33,500
new in 2025: €33,500
- Gross operating margin +€387,173
up €387,173 (+63.9%), from €605,753 to €992,926
- Staff costs +€267,529
up €267,529 (+70.7%), from €378,378 to €645,907
- Depreciation +€44,138
up €44,138 (+30.2%), from €145,924 to €190,062
- Other operating charges +€19,231
up €19,231 (+177.3%), from €10,846 to €30,078
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 | €914,287 | €1,039,705 | +€125,418 | +13.7% |
| Fixed assets | 21/28 | €606,323 | €592,315 | -€14,008 | -2.3% |
| Tangible fixed assets | 22/27 | €606,323 | €592,315 | -€14,008 | -2.3% |
| Plant, machinery and equipment | 23 | €723 | €326 | -€397 | -54.9% |
| Furniture and vehicles | 24 | €235,894 | €173,384 | -€62,510 | -26.5% |
| Leasing and similar rights | 25 | €369,706 | €418,604 | +€48,898 | +13.2% |
| Current assets | 29/58 | €307,963 | €447,390 | +€139,426 | +45.3% |
| Amounts receivable within one year | 40/41 | €266,386 | €396,082 | +€129,696 | +48.7% |
| Trade receivables | 40 | €219,828 | €383,869 | +€164,041 | +74.6% |
| Other amounts receivable | 41 | €46,558 | €12,213 | -€34,345 | -73.8% |
| Cash at bank and in hand | 54/58 | €41,577 | €51,307 | +€9,730 | +23.4% |
| Total equity and liabilities | 10/49 | €914,287 | €1,039,705 | +€125,418 | +13.7% |
| Equity | 10/15 | €147,072 | €222,885 | +€75,813 | +51.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €132,616 | €132,616 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,500 | €1,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €131,116 | €131,116 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€544 | €75,270 | +€75,813 | |
| Amounts payable | 17/49 | €767,215 | €816,819 | +€49,605 | +6.5% |
| Amounts payable after more than one year | 17 | €361,848 | €258,022 | -€103,825 | -28.7% |
| Financial debts | 170/4 | €361,848 | €258,022 | -€103,825 | -28.7% |
| Amounts payable within one year | 42/48 | €405,367 | €558,797 | +€153,430 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €183,962 | €251,749 | +€67,787 | +36.8% |
| Trade debts | 44 | €66,374 | €120,317 | +€53,943 | +81.3% |
| Suppliers | 440/4 | €66,374 | €120,317 | +€53,943 | +81.3% |
| Advances received on contracts in progress | 46 | - | €33,500 | +€33,500 | |
| Taxes, remuneration and social security | 45 | €116,053 | €127,596 | +€11,543 | +9.9% |
| Taxes | 450/3 | €40,748 | €42,157 | +€1,410 | +3.5% |
| Remuneration and social security | 454/9 | €75,306 | €85,439 | +€10,133 | +13.5% |
| Other amounts payable | 47/48 | €38,978 | €25,634 | -€13,343 | -34.2% |
| Remuneration, social security and pensions | 62 | €378,378 | €645,907 | +€267,529 | +70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,924 | €190,062 | +€44,138 | +30.2% |
| Other operating charges | 640/8 | €10,846 | €30,078 | +€19,231 | +177.3% |
| Gross operating margin | 9900 | €605,753 | €992,926 | +€387,173 | +63.9% |
| Operating profit (loss) | 9901 | €70,605 | €126,879 | +€56,274 | +79.7% |
| Financial income | 75/76B | €26 | - | -€26 | |
| Recurring financial income | 75 | €26 | - | -€26 | |
| Financial charges | 65/66B | €22,960 | €22,638 | -€322 | -1.4% |
| Recurring financial charges | 65 | €22,960 | €22,638 | -€322 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €47,671 | €104,241 | +€56,570 | +118.7% |
| Income taxes | 67/77 | €28,955 | €28,428 | -€528 | -1.8% |
| Profit (loss) for the period | 9904 | €18,715 | €75,813 | +€57,098 | +305.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,715 | €75,813 | +€57,098 | +305.1% |
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.