GFS Veurne: 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.
GFS Veurne
Largest movements
- Cash -€680,689
down €680,689 (-52.8%), from €1.3m to €609,340
mainly Contributions, distributions and other (-€1.4m) and Other debts (-€280,000)
- Tangible fixed assets -€597,944
down €597,944 (-85.1%), from €702,520 to €104,576
- Profit (loss) carried forward -€742,004
down €742,004 (-98.4%), from €753,744 to €11,741
- Other debts -€280,000
down €280,000 (-35.0%), from €800,000 to €520,000
- Debts after one year -€247,000
down €247,000 (-100%), from €247,000 to €0
- Investment grants -€30,641
down €30,641 (-91.7%), from €33,432 to €2,791
- Accrued charges and deferred income -€23,513
down €23,513 (-100%), from €23,513 to €0
- Gross operating margin +€277,211
up €277,211 (+24.3%), from €1.1m to €1.4m
- Taxes +€76,300
up €76,300 (+62.1%), from €122,819 to €199,118
- Financial charges -€39,297
down €39,297 (-93.2%), from €42,153 to €2,856
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 | €2,077,271 | €780,321 | -€1.3m | -62.4% |
| Fixed assets | 21/28 | €702,520 | €104,576 | -€597,944 | -85.1% |
| Tangible fixed assets | 22/27 | €702,520 | €104,576 | -€597,944 | -85.1% |
| Plant, machinery and equipment | 23 | €702,520 | €104,576 | -€597,944 | -85.1% |
| Current assets | 29/58 | €1,374,751 | €675,745 | -€699,006 | -50.8% |
| Amounts receivable within one year | 40/41 | €84,722 | €64,824 | -€19,897 | -23.5% |
| Trade receivables | 40 | €22,540 | €36,761 | +€14,221 | +63.1% |
| Other amounts receivable | 41 | €62,181 | €28,063 | -€34,118 | -54.9% |
| Cash at bank and in hand | 54/58 | €1,290,029 | €609,340 | -€680,689 | -52.8% |
| Deferred charges and accrued income | 490/1 | - | €1,581 | +€1,581 | |
| Total equity and liabilities | 10/49 | €2,077,271 | €780,321 | -€1.3m | -62.4% |
| Equity | 10/15 | €912,187 | €139,542 | -€772,645 | -84.7% |
| Contributions | 10/11 | €113,645 | €113,645 | = | 0.0% |
| Reserves | 13 | €11,365 | €11,365 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,365 | €0 | -€11,365 | -100% |
| Reserves not available under the articles | 1311 | €11,365 | €0 | -€11,365 | -100% |
| Distributable reserves | 133 | - | €11,365 | +€11,365 | |
| Profit (loss) carried forward | 14 | €753,744 | €11,741 | -€742,004 | -98.4% |
| Investment grants | 15 | €33,432 | €2,791 | -€30,641 | -91.7% |
| Provisions and deferred taxes | 16 | €46,875 | €67,500 | +€20,625 | +44.0% |
| Provisions for liabilities and charges | 160/5 | €46,875 | €67,500 | +€20,625 | +44.0% |
| Other liabilities and charges | 164/5 | €46,875 | €67,500 | +€20,625 | +44.0% |
| Amounts payable | 17/49 | €1,118,209 | €573,279 | -€544,930 | -48.7% |
| Amounts payable after more than one year | 17 | €247,000 | €0 | -€247,000 | -100% |
| Financial debts | 170/4 | €247,000 | €0 | -€247,000 | -100% |
| Amounts payable within one year | 42/48 | €847,696 | €573,279 | -€274,417 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €756 | €1,412 | +€656 | +86.7% |
| Suppliers | 440/4 | €756 | €1,412 | +€656 | +86.7% |
| Taxes, remuneration and social security | 45 | €46,940 | €51,867 | +€4,927 | +10.5% |
| Taxes | 450/3 | €46,940 | €51,867 | +€4,927 | +10.5% |
| Other amounts payable | 47/48 | €800,000 | €520,000 | -€280,000 | -35.0% |
| Accrued charges and deferred income | 492/3 | €23,513 | €0 | -€23,513 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €597,944 | €597,944 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €9,375 | €20,625 | +€11,250 | +120% |
| Other operating charges | 640/8 | €2,319 | €2,377 | +€59 | +2.5% |
| Gross operating margin | 9900 | €1,143,065 | €1,420,276 | +€277,211 | +24.3% |
| Operating profit (loss) | 9901 | €533,427 | €799,329 | +€265,902 | +49.8% |
| Financial income | 75/76B | €30,641 | €30,641 | = | 0.0% |
| Recurring financial income | 75 | €30,641 | €30,641 | = | 0.0% |
| Financial charges | 65/66B | €42,153 | €2,856 | -€39,297 | -93.2% |
| Recurring financial charges | 65 | €42,153 | €2,856 | -€39,297 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | €521,915 | €827,115 | +€305,199 | +58.5% |
| Income taxes | 67/77 | €122,819 | €199,118 | +€76,300 | +62.1% |
| Profit (loss) for the period | 9904 | €399,097 | €627,996 | +€228,900 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €399,097 | €627,996 | +€228,900 | +57.4% |
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 20 October 2026 via checked.be.