GCSR: 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.
GCSR
Largest movements
- Cash +€31,938
up €31,938 (+45.3%), from €70,457 to €102,395
mainly Net result for the year (+€26,047) and Receivables within one year (+€5,756)
- Receivables within one year -€5,756
down €5,756 (-90.4%), from €6,367 to €610
of which Trade receivables: -€6,050
- Profit (loss) carried forward +€26,047
up €26,047 (+40.6%), from €64,125 to €90,172
- Gross operating margin +€9,370
up €9,370 (+34.2%), from €27,418 to €36,788
- Taxes +€1,502
up €1,502 (+22.8%), from €6,583 to €8,085
- Other operating charges +€813
up €813, from €0 to €813
- Depreciation +€547
up €547 (+80.3%), from €681 to €1,228
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 | €78,290 | €105,294 | +€27,004 | +34.5% |
| Fixed assets | 21/28 | €1,466 | €2,288 | +€822 | +56.1% |
| Tangible fixed assets | 22/27 | €1,466 | €2,288 | +€822 | +56.1% |
| Furniture and vehicles | 24 | €1,466 | €2,288 | +€822 | +56.1% |
| Current assets | 29/58 | €76,824 | €103,006 | +€26,182 | +34.1% |
| Amounts receivable within one year | 40/41 | €6,367 | €610 | -€5,756 | -90.4% |
| Trade receivables | 40 | €6,050 | €0 | -€6,050 | -100% |
| Other amounts receivable | 41 | €317 | €610 | +€294 | +92.7% |
| Cash at bank and in hand | 54/58 | €70,457 | €102,395 | +€31,938 | +45.3% |
| Total equity and liabilities | 10/49 | €78,290 | €105,294 | +€27,004 | +34.5% |
| Equity | 10/15 | €67,125 | €93,172 | +€26,047 | +38.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,125 | €90,172 | +€26,047 | +40.6% |
| Amounts payable | 17/49 | €11,165 | €12,122 | +€957 | +8.6% |
| Amounts payable within one year | 42/48 | €10,996 | €12,072 | +€1,076 | +9.8% |
| Trade debts | 44 | €1,048 | €1,606 | +€558 | +53.2% |
| Suppliers | 440/4 | €1,048 | €1,606 | +€558 | +53.2% |
| Taxes, remuneration and social security | 45 | €9,948 | €10,466 | +€518 | +5.2% |
| Taxes | 450/3 | €8,767 | €9,188 | +€421 | +4.8% |
| Remuneration and social security | 454/9 | €1,180 | €1,278 | +€98 | +8.3% |
| Accrued charges and deferred income | 492/3 | €169 | €50 | -€119 | -70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €681 | €1,228 | +€547 | +80.3% |
| Other operating charges | 640/8 | €0 | €813 | +€813 | |
| Non-recurring operating charges | 66A | - | €594 | +€594 | |
| Gross operating margin | 9900 | €27,418 | €36,788 | +€9,370 | +34.2% |
| Operating profit (loss) | 9901 | €26,737 | €34,153 | +€7,416 | +27.7% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €35 | €39 | +€4 | +12.0% |
| Recurring financial charges | 65 | €35 | €39 | +€4 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €26,702 | €34,132 | +€7,430 | +27.8% |
| Income taxes | 67/77 | €6,583 | €8,085 | +€1,502 | +22.8% |
| Profit (loss) for the period | 9904 | €20,119 | €26,047 | +€5,928 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,119 | €26,047 | +€5,928 | +29.5% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.