GF465: 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.
GF465
Largest movements
- Cash +€10,287
up €10,287 (+194.4%), from €5,291 to €15,578
mainly Net result for the year (+€41,980) and Depreciation (+€4,709)
- Intangible fixed assets -€2,500
down €2,500 (-19.9%), from €12,594 to €10,094
- Tangible fixed assets -€2,209
down €2,209 (-52.2%), from €4,230 to €2,021
- Receivables within one year -€647
down €647 (-6.0%), from €10,821 to €10,174
of which Trade receivables: -€647
- Profit (loss) carried forward +€41,980
up €41,980 (+42.2%), from -€99,437 to -€57,457
- Other debts -€20,831
down €20,831 (-25.8%), from €80,864 to €60,032
- Trade debts -€12,934
down €12,934 (-92.8%), from €13,934 to €1,000
- Current portion of long-term debt -€3,881
no longer reported in 2025 (was €3,881)
- Tax, wage and social debts +€411
up €411 (+9.5%), from €4,319 to €4,731
- Gross operating margin +€14,258
up €14,258 (+42.7%), from €33,363 to €47,621
- Depreciation -€2,860
down €2,860 (-37.8%), from €7,568 to €4,709
- Financial charges -€771
down €771 (-65.4%), from €1,179 to €408
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 | €33,662 | €38,406 | +€4,745 | +14.1% |
| Fixed assets | 21/28 | €16,824 | €12,115 | -€4,709 | -28.0% |
| Intangible fixed assets | 21 | €12,594 | €10,094 | -€2,500 | -19.9% |
| Tangible fixed assets | 22/27 | €4,230 | €2,021 | -€2,209 | -52.2% |
| Plant, machinery and equipment | 23 | €1,271 | €310 | -€961 | -75.6% |
| Furniture and vehicles | 24 | €1,512 | €535 | -€977 | -64.6% |
| Other tangible fixed assets | 26 | €1,446 | €1,176 | -€271 | -18.7% |
| Current assets | 29/58 | €16,838 | €26,291 | +€9,453 | +56.1% |
| Stocks and contracts in progress | 3 | €429 | €429 | = | 0.0% |
| Stocks | 30/36 | €429 | €429 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,821 | €10,174 | -€647 | -6.0% |
| Trade receivables | 40 | €10,771 | €10,125 | -€647 | -6.0% |
| Other amounts receivable | 41 | €49 | €49 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,291 | €15,578 | +€10,287 | +194.4% |
| Deferred charges and accrued income | 490/1 | €298 | €110 | -€187 | -62.9% |
| Total equity and liabilities | 10/49 | €33,662 | €38,406 | +€4,745 | +14.1% |
| Equity | 10/15 | -€69,337 | -€27,357 | +€41,980 | +60.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €11,508 | €11,508 | = | 0.0% |
| Distributable reserves | 133 | €11,508 | €11,508 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,437 | -€57,457 | +€41,980 | +42.2% |
| Amounts payable | 17/49 | €102,998 | €65,763 | -€37,235 | -36.2% |
| Amounts payable within one year | 42/48 | €102,998 | €65,763 | -€37,235 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €3,881 | - | -€3,881 | |
| Trade debts | 44 | €13,934 | €1,000 | -€12,934 | -92.8% |
| Suppliers | 440/4 | €13,934 | €1,000 | -€12,934 | -92.8% |
| Taxes, remuneration and social security | 45 | €4,319 | €4,731 | +€411 | +9.5% |
| Taxes | 450/3 | €4,319 | €4,731 | +€411 | +9.5% |
| Other amounts payable | 47/48 | €80,864 | €60,032 | -€20,831 | -25.8% |
| Remuneration, social security and pensions | 62 | -€37 | - | +€37 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,568 | €4,709 | -€2,860 | -37.8% |
| Other operating charges | 640/8 | €755 | €524 | -€230 | -30.5% |
| Gross operating margin | 9900 | €33,363 | €47,621 | +€14,258 | +42.7% |
| Operating profit (loss) | 9901 | €25,077 | €42,388 | +€17,311 | +69.0% |
| Financial charges | 65/66B | €1,179 | €408 | -€771 | -65.4% |
| Recurring financial charges | 65 | €1,179 | €408 | -€771 | -65.4% |
| Profit (loss) for the period before taxes | 9903 | €23,897 | €41,980 | +€18,082 | +75.7% |
| Profit (loss) for the period | 9904 | €23,897 | €41,980 | +€18,082 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,897 | €41,980 | +€18,082 | +75.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.