GG ELEC: 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.
GG ELEC
Largest movements
- Cash -€79,293
down €79,293 (-80.1%), from €99,016 to €19,724
mainly Investment in fixed assets (net) (-€55,690) and Trade debts (-€44,011)
- Tangible fixed assets +€35,746
up €35,746 (+108%), from €33,146 to €68,892
of which Furniture and vehicles: +€25,836
- Receivables within one year +€21,058
up €21,058 (+10.7%), from €197,526 to €218,585
of which Other amounts receivable: +€38,324
- Trade debts -€44,011
down €44,011 (-28.7%), from €153,118 to €109,107
- Debts after one year +€20,166
new in 2024: €20,166
- Tax, wage and social debts -€18,742
down €18,742 (-35.4%), from €52,881 to €34,139
of which Taxes: -€15,507
- Current portion of long-term debt +€7,868
new in 2024: €7,868
- Other debts +€7,125
up €7,125 (+122%), from €5,837 to €12,962
- Gross operating margin -€40,840
down €40,840 (-23.0%), from €177,203 to €136,363
- Taxes -€12,122
down €12,122 (-78.1%), from €15,528 to €3,406
- Depreciation +€8,889
up €8,889 (+80.4%), from €11,055 to €19,944
- Staff costs -€6,766
down €6,766 (-5.7%), from €119,709 to €112,943
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €333,858 | €313,152 | -€20,706 | -6.2% |
| Fixed assets | 21/28 | €33,146 | €68,892 | +€35,746 | +108% |
| Tangible fixed assets | 22/27 | €33,146 | €68,892 | +€35,746 | +108% |
| Plant, machinery and equipment | 23 | €10,029 | €19,938 | +€9,910 | +98.8% |
| Furniture and vehicles | 24 | €23,117 | €48,954 | +€25,836 | +112% |
| Current assets | 29/58 | €300,712 | €244,260 | -€56,452 | -18.8% |
| Amounts receivable within one year | 40/41 | €197,526 | €218,585 | +€21,058 | +10.7% |
| Trade receivables | 40 | €190,788 | €173,522 | -€17,266 | -9.0% |
| Other amounts receivable | 41 | €6,738 | €45,062 | +€38,324 | +569% |
| Cash at bank and in hand | 54/58 | €99,016 | €19,724 | -€79,293 | -80.1% |
| Deferred charges and accrued income | 490/1 | €4,169 | €5,952 | +€1,783 | +42.8% |
| Total equity and liabilities | 10/49 | €333,858 | €313,152 | -€20,706 | -6.2% |
| Equity | 10/15 | €122,022 | €122,159 | +€137 | +0.1% |
| Contributions | 10/11 | €13,400 | €13,400 | = | 0.0% |
| Reserves | 13 | €108,622 | €108,759 | +€137 | +0.1% |
| Distributable reserves | 133 | €108,622 | €108,759 | +€137 | +0.1% |
| Amounts payable | 17/49 | €211,836 | €190,993 | -€20,843 | -9.8% |
| Amounts payable after more than one year | 17 | - | €20,166 | +€20,166 | |
| Financial debts | 170/4 | - | €20,166 | +€20,166 | |
| Amounts payable within one year | 42/48 | €211,836 | €170,827 | -€41,009 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,868 | +€7,868 | |
| Financial debts | 43 | - | €6,751 | +€6,751 | |
| Credit institutions | 430/8 | - | €6,751 | +€6,751 | |
| Trade debts | 44 | €153,118 | €109,107 | -€44,011 | -28.7% |
| Suppliers | 440/4 | €153,118 | €109,107 | -€44,011 | -28.7% |
| Taxes, remuneration and social security | 45 | €52,881 | €34,139 | -€18,742 | -35.4% |
| Taxes | 450/3 | €26,876 | €11,369 | -€15,507 | -57.7% |
| Remuneration and social security | 454/9 | €26,004 | €22,770 | -€3,234 | -12.4% |
| Other amounts payable | 47/48 | €5,837 | €12,962 | +€7,125 | +122% |
| Remuneration, social security and pensions | 62 | €119,709 | €112,943 | -€6,766 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,055 | €19,944 | +€8,889 | +80.4% |
| Other operating charges | 640/8 | €1,188 | €1,243 | +€55 | +4.6% |
| Gross operating margin | 9900 | €177,203 | €136,363 | -€40,840 | -23.0% |
| Operating profit (loss) | 9901 | €45,250 | €2,233 | -€43,017 | -95.1% |
| Financial income | 75/76B | €1,611 | €2,606 | +€995 | +61.8% |
| Recurring financial income | 75 | €1,611 | €2,606 | +€995 | +61.8% |
| Financial charges | 65/66B | €253 | €1,297 | +€1,043 | +412% |
| Recurring financial charges | 65 | €253 | €1,297 | +€1,043 | +412% |
| Profit (loss) for the period before taxes | 9903 | €46,608 | €3,543 | -€43,065 | -92.4% |
| Income taxes | 67/77 | €15,528 | €3,406 | -€12,122 | -78.1% |
| Profit (loss) for the period | 9904 | €31,080 | €137 | -€30,943 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,080 | €137 | -€30,943 | -99.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.