GFLO Advisor: 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.
GFLO Advisor
Largest movements
- Tangible fixed assets +€132,444
up €132,444 (+105.4%), from €125,697 to €258,140
of which Land and buildings: +€145,103
- Cash -€49,624
down €49,624 (-26.9%), from €184,734 to €135,110
mainly Investment in fixed assets (net) (-€161,821) and Receivables within one year (-€8,430)
- Receivables within one year +€8,430
up €8,430 (+103.5%), from €8,142 to €16,572
of which Other amounts receivable: +€7,321
- Debts after one year +€56,151
up €56,151 (+135.4%), from €41,469 to €97,620
- Reserves +€17,952
up €17,952 (+7.4%), from €242,502 to €260,453
- Current portion of long-term debt +€7,999
up €7,999 (+30.2%), from €26,446 to €34,445
- Other debts +€6,053
new in 2025: €6,053
- Other operating charges +€17,369
up €17,369 (+897.4%), from €1,936 to €19,305
- Staff costs +€8,488
new in 2025: €8,488
- Gross operating margin +€7,200
up €7,200 (+8.8%), from €81,373 to €88,574
- Taxes -€7,090
down €7,090 (-47.0%), from €15,071 to €7,981
- Depreciation +€5,035
up €5,035 (+20.7%), from €24,343 to €29,378
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 | €330,352 | €422,029 | +€91,677 | +27.8% |
| Fixed assets | 21/28 | €125,697 | €258,140 | +€132,444 | +105.4% |
| Tangible fixed assets | 22/27 | €125,697 | €258,140 | +€132,444 | +105.4% |
| Land and buildings | 22 | €94,049 | €239,151 | +€145,103 | +154.3% |
| Plant, machinery and equipment | 23 | €1,997 | €1,441 | -€556 | -27.9% |
| Furniture and vehicles | 24 | €29,651 | €17,548 | -€12,103 | -40.8% |
| Current assets | 29/58 | €204,655 | €163,888 | -€40,767 | -19.9% |
| Amounts receivable after more than one year | 29 | €8,743 | €8,918 | +€175 | +2.0% |
| Other amounts receivable | 291 | €8,743 | €8,918 | +€175 | +2.0% |
| Amounts receivable within one year | 40/41 | €8,142 | €16,572 | +€8,430 | +103.5% |
| Trade receivables | 40 | - | €1,109 | +€1,109 | |
| Other amounts receivable | 41 | €8,142 | €15,463 | +€7,321 | +89.9% |
| Cash at bank and in hand | 54/58 | €184,734 | €135,110 | -€49,624 | -26.9% |
| Deferred charges and accrued income | 490/1 | €3,036 | €3,289 | +€253 | +8.3% |
| Total equity and liabilities | 10/49 | €330,352 | €422,029 | +€91,677 | +27.8% |
| Equity | 10/15 | €254,902 | €272,853 | +€17,952 | +7.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €242,502 | €260,453 | +€17,952 | +7.4% |
| Distributable reserves | 133 | €242,502 | €260,453 | +€17,952 | +7.4% |
| Amounts payable | 17/49 | €75,450 | €149,175 | +€73,726 | +97.7% |
| Amounts payable after more than one year | 17 | €41,469 | €97,620 | +€56,151 | +135.4% |
| Financial debts | 170/4 | €41,469 | €97,620 | +€56,151 | +135.4% |
| Amounts payable within one year | 42/48 | €33,981 | €51,555 | +€17,574 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €26,446 | €34,445 | +€7,999 | +30.2% |
| Trade debts | 44 | €3,935 | €3,578 | -€357 | -9.1% |
| Suppliers | 440/4 | €3,935 | €3,578 | -€357 | -9.1% |
| Taxes, remuneration and social security | 45 | €3,599 | €7,479 | +€3,879 | +107.8% |
| Taxes | 450/3 | €3,599 | €7,479 | +€3,879 | +107.8% |
| Other amounts payable | 47/48 | - | €6,053 | +€6,053 | |
| Remuneration, social security and pensions | 62 | - | €8,488 | +€8,488 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,343 | €29,378 | +€5,035 | +20.7% |
| Other operating charges | 640/8 | €1,936 | €19,305 | +€17,369 | +897.4% |
| Non-recurring operating charges | 66A | - | €849 | +€849 | |
| Gross operating margin | 9900 | €81,373 | €88,574 | +€7,200 | +8.8% |
| Operating profit (loss) | 9901 | €55,095 | €30,554 | -€24,541 | -44.5% |
| Financial income | 75/76B | €2,494 | €990 | -€1,504 | -60.3% |
| Recurring financial income | 75 | €2,494 | €990 | -€1,504 | -60.3% |
| Financial charges | 65/66B | €3,715 | €5,611 | +€1,896 | +51.0% |
| Recurring financial charges | 65 | €3,715 | €5,611 | +€1,896 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €53,874 | €25,933 | -€27,941 | -51.9% |
| Income taxes | 67/77 | €15,071 | €7,981 | -€7,090 | -47.0% |
| Profit (loss) for the period | 9904 | €38,803 | €17,952 | -€20,852 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,803 | €17,952 | -€20,852 | -53.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.