GFR Elektro: 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.
GFR Elektro
Largest movements
- Cash +€21,829
up €21,829 (+99.5%), from €21,931 to €43,761
mainly Net result for the year (+€6,301) and Trade debts (+€5,788)
- Receivables within one year -€4,880
down €4,880 (-29.8%), from €16,350 to €11,470
of which Trade receivables: -€6,268
- Deferred charges and accrued income -€1,707
down €1,707 (-32.1%), from €5,315 to €3,608
- Tangible fixed assets -€1,581
down €1,581 (-14.9%), from €10,604 to €9,023
of which Furniture and vehicles: -€1,692
- Trade debts +€5,788
up €5,788 (+38.7%), from €14,950 to €20,737
- Profit (loss) carried forward +€5,411
no longer reported in 2025 (was -€5,411)
- Other debts +€3,522
up €3,522 (+19.6%), from €17,997 to €21,519
- Tax, wage and social debts -€1,650
no longer reported in 2025 (was €1,650)
- Reserves +€890
up €890 (+3.7%), from €24,362 to €25,252
- Gross operating margin +€11,127
up €11,127 (+3,842%), from €290 to €11,417
- Depreciation +€623
up €623 (+17.6%), from €3,544 to €4,167
- Taxes +€403
new in 2025: €403
- Financial income +€119
up €119 (+293%), from €40 to €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.
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 | €62,522 | €76,020 | +€13,499 | +21.6% |
| Fixed assets | 21/28 | €10,604 | €9,023 | -€1,581 | -14.9% |
| Tangible fixed assets | 22/27 | €10,604 | €9,023 | -€1,581 | -14.9% |
| Plant, machinery and equipment | 23 | €7,045 | €7,155 | +€111 | +1.6% |
| Furniture and vehicles | 24 | €3,559 | €1,867 | -€1,692 | -47.5% |
| Current assets | 29/58 | €51,918 | €66,998 | +€15,080 | +29.0% |
| Stocks and contracts in progress | 3 | €8,322 | €8,159 | -€163 | -2.0% |
| Stocks | 30/36 | €8,322 | €8,159 | -€163 | -2.0% |
| Amounts receivable within one year | 40/41 | €16,350 | €11,470 | -€4,880 | -29.8% |
| Trade receivables | 40 | €13,555 | €7,287 | -€6,268 | -46.2% |
| Other amounts receivable | 41 | €2,795 | €4,183 | +€1,388 | +49.7% |
| Cash at bank and in hand | 54/58 | €21,931 | €43,761 | +€21,829 | +99.5% |
| Deferred charges and accrued income | 490/1 | €5,315 | €3,608 | -€1,707 | -32.1% |
| Total equity and liabilities | 10/49 | €62,522 | €76,020 | +€13,499 | +21.6% |
| Equity | 10/15 | €24,951 | €31,252 | +€6,301 | +25.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €24,362 | €25,252 | +€890 | +3.7% |
| Distributable reserves | 133 | €24,362 | €25,252 | +€890 | +3.7% |
| Profit (loss) carried forward | 14 | -€5,411 | - | +€5,411 | |
| Amounts payable | 17/49 | €37,570 | €44,768 | +€7,198 | +19.2% |
| Amounts payable within one year | 42/48 | €34,597 | €42,256 | +€7,659 | +22.1% |
| Trade debts | 44 | €14,950 | €20,737 | +€5,788 | +38.7% |
| Suppliers | 440/4 | €14,950 | €20,737 | +€5,788 | +38.7% |
| Taxes, remuneration and social security | 45 | €1,650 | - | -€1,650 | |
| Taxes | 450/3 | €1,650 | - | -€1,650 | |
| Other amounts payable | 47/48 | €17,997 | €21,519 | +€3,522 | +19.6% |
| Accrued charges and deferred income | 492/3 | €2,974 | €2,512 | -€462 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,544 | €4,167 | +€623 | +17.6% |
| Other operating charges | 640/8 | €511 | €467 | -€44 | -8.7% |
| Non-recurring operating charges | 66A | €1,505 | - | -€1,505 | |
| Gross operating margin | 9900 | €290 | €11,417 | +€11,127 | +3,842% |
| Operating profit (loss) | 9901 | -€5,271 | €6,783 | +€12,054 | |
| Financial income | 75/76B | €40 | €159 | +€119 | +293% |
| Recurring financial income | 75 | €40 | €159 | +€119 | +293% |
| Financial charges | 65/66B | €181 | €238 | +€58 | +32.0% |
| Recurring financial charges | 65 | €181 | €238 | +€58 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,411 | €6,704 | +€12,115 | |
| Income taxes | 67/77 | - | €403 | +€403 | |
| Profit (loss) for the period | 9904 | -€5,411 | €6,301 | +€11,712 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,411 | €6,301 | +€11,712 |
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 30 October 2026 via checked.be.