GG NOA: 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 NOA
Largest movements
- Tangible fixed assets +€71,708
up €71,708 (+93.9%), from €76,360 to €148,068
of which Other tangible fixed assets: +€77,110
- Current investments +€50,295
new in 2025: €50,295
- Receivables within one year +€26,791
up €26,791 (+85.7%), from €31,254 to €58,045
of which Trade receivables: +€25,796
- Cash +€12,619
up €12,619 (+4.8%), from €263,622 to €276,241
mainly Debts after one year (+€58,033) and Net result for the year (+€43,912)
- Debts after one year +€58,033
up €58,033 (+453%), from €12,797 to €70,830
- Reserves +€43,912
up €43,912 (+14.6%), from €299,900 to €343,812
of which Distributable reserves: +€43,912
- Trade debts +€39,467
up €39,467 (+303%), from €13,007 to €52,474
- Current portion of long-term debt +€22,251
up €22,251 (+252%), from €8,840 to €31,090
- Gross operating margin -€20,967
down €20,967 (-14.0%), from €149,731 to €128,765
- Taxes -€12,895
down €12,895 (-59.4%), from €21,704 to €8,810
- Depreciation +€12,544
up €12,544 (+69.0%), from €18,192 to €30,736
- Other operating charges -€8,921
down €8,921 (-54.3%), from €16,444 to €7,523
- Staff costs +€1,748
up €1,748 (+6.0%), from €29,124 to €30,871
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 | €377,602 | €536,763 | +€159,161 | +42.2% |
| Fixed assets | 21/28 | €78,860 | €148,068 | +€69,208 | +87.8% |
| Intangible fixed assets | 21 | €2,500 | - | -€2,500 | |
| Tangible fixed assets | 22/27 | €76,360 | €148,068 | +€71,708 | +93.9% |
| Plant, machinery and equipment | 23 | €15,954 | €10,552 | -€5,402 | -33.9% |
| Other tangible fixed assets | 26 | €60,406 | €137,516 | +€77,110 | +128% |
| Current assets | 29/58 | €298,742 | €388,696 | +€89,953 | +30.1% |
| Amounts receivable within one year | 40/41 | €31,254 | €58,045 | +€26,791 | +85.7% |
| Trade receivables | 40 | €10,567 | €36,364 | +€25,796 | +244% |
| Other amounts receivable | 41 | €20,686 | €21,681 | +€995 | +4.8% |
| Current investments | 50/53 | - | €50,295 | +€50,295 | |
| Cash at bank and in hand | 54/58 | €263,622 | €276,241 | +€12,619 | +4.8% |
| Deferred charges and accrued income | 490/1 | €3,867 | €4,116 | +€248 | +6.4% |
| Total equity and liabilities | 10/49 | €377,602 | €536,763 | +€159,161 | +42.2% |
| Equity | 10/15 | €330,127 | €374,039 | +€43,912 | +13.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €299,900 | €343,812 | +€43,912 | +14.6% |
| Tax-exempt reserves | 132 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €286,900 | €330,812 | +€43,912 | +15.3% |
| Profit (loss) carried forward | 14 | €10,227 | €10,227 | = | 0.0% |
| Amounts payable | 17/49 | €47,475 | €162,724 | +€115,249 | +243% |
| Amounts payable after more than one year | 17 | €12,797 | €70,830 | +€58,033 | +453% |
| Financial debts | 170/4 | €12,797 | €70,830 | +€58,033 | +453% |
| Amounts payable within one year | 42/48 | €29,083 | €90,647 | +€61,564 | +212% |
| Current portion of amounts payable after more than one year | 42 | €8,840 | €31,090 | +€22,251 | +252% |
| Trade debts | 44 | €13,007 | €52,474 | +€39,467 | +303% |
| Suppliers | 440/4 | €13,007 | €52,474 | +€39,467 | +303% |
| Taxes, remuneration and social security | 45 | €7,236 | €7,082 | -€153 | -2.1% |
| Taxes | 450/3 | €4,500 | €4,673 | +€173 | +3.9% |
| Remuneration and social security | 454/9 | €2,736 | €2,409 | -€327 | -11.9% |
| Accrued charges and deferred income | 492/3 | €5,596 | €1,248 | -€4,348 | -77.7% |
| Remuneration, social security and pensions | 62 | €29,124 | €30,871 | +€1,748 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,192 | €30,736 | +€12,544 | +69.0% |
| Other operating charges | 640/8 | €16,444 | €7,523 | -€8,921 | -54.3% |
| Gross operating margin | 9900 | €149,731 | €128,765 | -€20,967 | -14.0% |
| Operating profit (loss) | 9901 | €85,972 | €59,635 | -€26,337 | -30.6% |
| Financial income | 75/76B | €480 | €270 | -€210 | -43.7% |
| Recurring financial income | 75 | €480 | €270 | -€210 | -43.7% |
| Financial charges | 65/66B | €5,975 | €7,183 | +€1,208 | +20.2% |
| Recurring financial charges | 65 | €5,975 | €7,183 | +€1,208 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €80,476 | €52,722 | -€27,755 | -34.5% |
| Income taxes | 67/77 | €21,704 | €8,810 | -€12,895 | -59.4% |
| Profit (loss) for the period | 9904 | €58,772 | €43,912 | -€14,860 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €58,772 | €43,912 | -€14,860 | -25.3% |
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 27 October 2026 via checked.be.