GGC: what changed
Two fiscal 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.
GGC
Largest movements
- Cash +€40,465
up €40,465 (+77.3%), from €52,372 to €92,837
mainly Net result for the year (+€51,610) and Current investments (+€25,000)
- Current investments -€25,000
down €25,000 (-7.7%), from €325,000 to €300,000
- Other debts +€9,192
up €9,192 (+13.8%), from €66,417 to €75,609
- Trade debts +€4,528
up €4,528 (+93.8%), from €4,827 to €9,354
- Gross operating margin +€16,036
up €16,036 (+17.2%), from €93,091 to €109,127
- Staff costs +€10,723
up €10,723 (+39.4%), from €27,207 to €37,930
- Other operating charges -€4,778
down €4,778 (-83.7%), from €5,706 to €928
- Taxes +€2,748
up €2,748 (+15.8%), from €17,416 to €20,164
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 | €409,882 | €424,922 | +€15,040 | +3.7% |
| Fixed assets | 21/28 | €10,003 | €7,563 | -€2,440 | -24.4% |
| Tangible fixed assets | 22/27 | €9,813 | €7,373 | -€2,440 | -24.9% |
| Land and buildings | 22 | €7,275 | €5,418 | -€1,856 | -25.5% |
| Plant, machinery and equipment | 23 | €484 | €209 | -€276 | -56.9% |
| Furniture and vehicles | 24 | €2,054 | €1,746 | -€308 | -15.0% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €399,880 | €417,360 | +€17,480 | +4.4% |
| Amounts receivable within one year | 40/41 | €22,366 | €23,292 | +€927 | +4.1% |
| Trade receivables | 40 | €22,142 | €23,069 | +€927 | +4.2% |
| Other amounts receivable | 41 | €223 | €223 | = | 0.0% |
| Current investments | 50/53 | €325,000 | €300,000 | -€25,000 | -7.7% |
| Cash at bank and in hand | 54/58 | €52,372 | €92,837 | +€40,465 | +77.3% |
| Deferred charges and accrued income | 490/1 | €142 | €1,231 | +€1,089 | +765.8% |
| Total equity and liabilities | 10/49 | €409,882 | €424,922 | +€15,040 | +3.7% |
| Equity | 10/15 | €281,048 | €284,716 | +€3,669 | +1.3% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €253,548 | €257,216 | +€3,669 | +1.4% |
| Distributable reserves | 133 | €253,548 | €257,216 | +€3,669 | +1.4% |
| Provisions and deferred taxes | 16 | €36,895 | €36,895 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €36,895 | €36,895 | = | 0.0% |
| Pensions and similar obligations | 160 | €36,895 | €36,895 | = | 0.0% |
| Amounts payable | 17/49 | €91,940 | €103,311 | +€11,371 | +12.4% |
| Amounts payable within one year | 42/48 | €90,404 | €101,946 | +€11,541 | +12.8% |
| Trade debts | 44 | €4,827 | €9,354 | +€4,528 | +93.8% |
| Suppliers | 440/4 | €4,827 | €9,354 | +€4,528 | +93.8% |
| Taxes, remuneration and social security | 45 | €19,161 | €16,983 | -€2,178 | -11.4% |
| Taxes | 450/3 | €15,278 | €12,986 | -€2,292 | -15.0% |
| Remuneration and social security | 454/9 | €3,883 | €3,997 | +€114 | +2.9% |
| Other amounts payable | 47/48 | €66,417 | €75,609 | +€9,192 | +13.8% |
| Accrued charges and deferred income | 492/3 | €1,535 | €1,365 | -€170 | -11.1% |
| Remuneration, social security and pensions | 62 | €27,207 | €37,930 | +€10,723 | +39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,440 | €2,440 | = | 0.0% |
| Other operating charges | 640/8 | €5,706 | €928 | -€4,778 | -83.7% |
| Gross operating margin | 9900 | €93,091 | €109,127 | +€16,036 | +17.2% |
| Operating profit (loss) | 9901 | €57,738 | €67,828 | +€10,090 | +17.5% |
| Financial income | 75/76B | €6,260 | €6,430 | +€170 | +2.7% |
| Recurring financial income | 75 | €6,260 | €6,430 | +€170 | +2.7% |
| Financial charges | 65/66B | €2,380 | €2,484 | +€104 | +4.4% |
| Recurring financial charges | 65 | €2,380 | €2,484 | +€104 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €61,618 | €71,774 | +€10,156 | +16.5% |
| Income taxes | 67/77 | €17,416 | €20,164 | +€2,748 | +15.8% |
| Profit (loss) for the period | 9904 | €44,203 | €51,610 | +€7,408 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,203 | €51,610 | +€7,408 | +16.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.