GFC.1: 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.
GFC.1
Largest movements
- Tangible fixed assets -€24,677
down €24,677 (-2.5%), from €971,460 to €946,783
- Profit (loss) carried forward -€72,979
down €72,979 (-33.7%), from -€216,289 to -€289,268
- Other debts +€61,350
up €61,350 (+27.8%), from €220,500 to €281,850
- Gross operating margin +€17,443
up €17,443, from -€17,216 to €227
- Financial charges -€13,604
down €13,604 (-26.1%), from €52,138 to €38,534
- Depreciation +€2,723
up €2,723 (+9.8%), from €27,789 to €30,512
- Other operating charges +€373
up €373 (+9.8%), from €3,787 to €4,159
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 | €977,264 | €957,669 | -€19,595 | -2.0% |
| Fixed assets | 21/28 | €971,460 | €946,783 | -€24,677 | -2.5% |
| Tangible fixed assets | 22/27 | €971,460 | €946,783 | -€24,677 | -2.5% |
| Land and buildings | 22 | €971,460 | €946,783 | -€24,677 | -2.5% |
| Current assets | 29/58 | €5,804 | €10,886 | +€5,083 | +87.6% |
| Amounts receivable within one year | 40/41 | €5,760 | €7,369 | +€1,609 | +27.9% |
| Other amounts receivable | 41 | €5,760 | €7,369 | +€1,609 | +27.9% |
| Cash at bank and in hand | 54/58 | €43 | €2,194 | +€2,151 | +4953.2% |
| Deferred charges and accrued income | 490/1 | - | €1,323 | +€1,323 | |
| Total equity and liabilities | 10/49 | €977,264 | €957,669 | -€19,595 | -2.0% |
| Equity | 10/15 | -€201,289 | -€274,268 | -€72,979 | -36.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€216,289 | -€289,268 | -€72,979 | -33.7% |
| Amounts payable | 17/49 | €1,178,553 | €1,231,937 | +€53,384 | +4.5% |
| Amounts payable within one year | 42/48 | €1,152,850 | €1,214,062 | +€61,212 | +5.3% |
| Financial debts | 43 | €920,000 | €920,000 | = | 0.0% |
| Credit institutions | 430/8 | €920,000 | €920,000 | = | 0.0% |
| Trade debts | 44 | €12,350 | €12,212 | -€138 | -1.1% |
| Suppliers | 440/4 | €12,350 | €12,212 | -€138 | -1.1% |
| Other amounts payable | 47/48 | €220,500 | €281,850 | +€61,350 | +27.8% |
| Accrued charges and deferred income | 492/3 | €25,703 | €17,876 | -€7,828 | -30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,789 | €30,512 | +€2,723 | +9.8% |
| Other operating charges | 640/8 | €3,787 | €4,159 | +€373 | +9.8% |
| Gross operating margin | 9900 | -€17,216 | €227 | +€17,443 | |
| Operating profit (loss) | 9901 | -€48,792 | -€34,445 | +€14,347 | +29.4% |
| Financial charges | 65/66B | €52,138 | €38,534 | -€13,604 | -26.1% |
| Recurring financial charges | 65 | €52,138 | €38,534 | -€13,604 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | -€100,929 | -€72,979 | +€27,951 | +27.7% |
| Profit (loss) for the period | 9904 | -€100,929 | -€72,979 | +€27,951 | +27.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€100,929 | -€72,979 | +€27,951 | +27.7% |
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 3 October 2026 via checked.be.