GCU BUREAU: what changed
GCU BUREAU
Largest movements
- Receivables within one year +€85,795
up €85,795 (+243%), from €35,273 to €121,068
of which Trade receivables: +€87,105
- Cash -€72,582
down €72,582 (-45.6%), from €159,022 to €86,439
mainly Receivables within one year (-€85,795) and Current investments (-€50,000)
- Current investments +€50,000
new in 2024: €50,000
- Intangible fixed assets -€11,901
down €11,901 (-74.1%), from €16,061 to €4,160
- Trade debts +€32,904
up €32,904 (+27.2%), from €121,117 to €154,021
- Profit (loss) carried forward +€17,905
up €17,905 (+24.5%), from €73,003 to €90,908
- Depreciation -€19,946
down €19,946 (-62.6%), from €31,847 to €11,901
- Gross operating margin +€17,397
up €17,397 (+56.2%), from €30,978 to €48,375
- Write-downs -€1,306
down €1,306 (-18.5%), from €7,073 to €5,768
- Financial charges -€727
down €727 (-73.3%), from €992 to €265
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,581 | €261,875 | +€51,295 | +24.4% |
| Fixed assets | 21/28 | €16,061 | €4,160 | -€11,901 | -74.1% |
| Intangible fixed assets | 21 | €16,061 | €4,160 | -€11,901 | -74.1% |
| Current assets | 29/58 | €194,520 | €257,715 | +€63,195 | +32.5% |
| Amounts receivable within one year | 40/41 | €35,273 | €121,068 | +€85,795 | +243% |
| Trade receivables | 40 | €29,582 | €116,687 | +€87,105 | +294% |
| Other amounts receivable | 41 | €5,691 | €4,381 | -€1,310 | -23.0% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €159,022 | €86,439 | -€72,582 | -45.6% |
| Deferred charges and accrued income | 490/1 | €225 | €208 | -€18 | -7.8% |
| Total equity and liabilities | 10/49 | €210,581 | €261,875 | +€51,295 | +24.4% |
| Equity | 10/15 | €87,263 | €105,168 | +€17,905 | +20.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,003 | €90,908 | +€17,905 | +24.5% |
| Amounts payable | 17/49 | €123,318 | €156,707 | +€33,389 | +27.1% |
| Amounts payable within one year | 42/48 | €123,318 | €156,707 | +€33,389 | +27.1% |
| Trade debts | 44 | €121,117 | €154,021 | +€32,904 | +27.2% |
| Suppliers | 440/4 | €121,117 | €154,021 | +€32,904 | +27.2% |
| Taxes, remuneration and social security | 45 | €2,201 | €2,041 | -€160 | -7.3% |
| Taxes | 450/3 | €2,201 | €2,041 | -€160 | -7.3% |
| Other amounts payable | 47/48 | - | €646 | +€646 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,847 | €11,901 | -€19,946 | -62.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,073 | €5,768 | -€1,306 | -18.5% |
| Other operating charges | 640/8 | €391 | €381 | -€10 | -2.6% |
| Non-recurring operating charges | 66A | €6,757 | €12,436 | +€5,679 | +84.0% |
| Gross operating margin | 9900 | €30,978 | €48,375 | +€17,397 | +56.2% |
| Operating profit (loss) | 9901 | -€15,090 | €17,890 | +€32,981 | |
| Financial income | 75/76B | €124 | €279 | +€155 | +124% |
| Recurring financial income | 75 | €124 | €279 | +€155 | +124% |
| Financial charges | 65/66B | €992 | €265 | -€727 | -73.3% |
| Recurring financial charges | 65 | €992 | €265 | -€727 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,958 | €17,905 | +€33,863 | |
| Profit (loss) for the period | 9904 | -€15,958 | €17,905 | +€33,863 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,958 | €17,905 | +€33,863 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.