GGS: 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.
GGS
Largest movements
- Receivables within one year +€16,105
up €16,105 (+132.0%), from €12,201 to €28,306
of which Trade receivables: +€17,082
- Tangible fixed assets +€5,676
up €5,676 (+6.6%), from €86,542 to €92,218
of which Plant, machinery and equipment: +€12,092
- Stocks and contracts +€4,543
up €4,543 (+10.2%), from €44,636 to €49,179
- Deferred charges and accrued income -€4,248
down €4,248 (-55.7%), from €7,633 to €3,385
- Cash -€2,733
down €2,733 (-6.9%), from €39,853 to €37,120
mainly Contributions, distributions and other (-€140,000) and Investment in fixed assets (net) (-€19,880)
- Profit (loss) carried forward -€99,558
down €99,558 (-98.9%), from €100,697 to €1,140
- Debts after one year +€63,686
up €63,686 (+165.5%), from €38,470 to €102,156
of which Other amounts payable: +€66,883
- Other debts +€40,241
up €40,241 (+176.8%), from €22,759 to €63,000
- Tax, wage and social debts +€28,421
up €28,421 (+1160.9%), from €2,448 to €30,869
of which Taxes: +€28,710
- Trade debts -€8,009
down €8,009 (-62.0%), from €12,916 to €4,907
- Gross operating margin +€17,470
up €17,470 (+24.5%), from €71,222 to €88,692
- Taxes +€10,965
up €10,965 (+362.1%), from €3,028 to €13,993
- Depreciation -€10,274
down €10,274 (-42.0%), from €24,478 to €14,204
- Financial charges -€6,617
down €6,617 (-93.3%), from €7,091 to €474
- Staff costs +€961
up €961 (+5.2%), from €18,517 to €19,478
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 | €190,865 | €210,209 | +€19,343 | +10.1% |
| Fixed assets | 21/28 | €86,542 | €92,218 | +€5,676 | +6.6% |
| Tangible fixed assets | 22/27 | €86,542 | €92,218 | +€5,676 | +6.6% |
| Land and buildings | 22 | €59,525 | €55,430 | -€4,095 | -6.9% |
| Plant, machinery and equipment | 23 | €20,345 | €32,436 | +€12,092 | +59.4% |
| Furniture and vehicles | 24 | €6,673 | €4,352 | -€2,321 | -34.8% |
| Current assets | 29/58 | €104,323 | €117,990 | +€13,668 | +13.1% |
| Stocks and contracts in progress | 3 | €44,636 | €49,179 | +€4,543 | +10.2% |
| Stocks | 30/36 | €44,636 | €49,179 | +€4,543 | +10.2% |
| Amounts receivable within one year | 40/41 | €12,201 | €28,306 | +€16,105 | +132.0% |
| Trade receivables | 40 | €11,061 | €28,143 | +€17,082 | +154.4% |
| Other amounts receivable | 41 | €1,140 | €163 | -€977 | -85.7% |
| Cash at bank and in hand | 54/58 | €39,853 | €37,120 | -€2,733 | -6.9% |
| Deferred charges and accrued income | 490/1 | €7,633 | €3,385 | -€4,248 | -55.7% |
| Total equity and liabilities | 10/49 | €190,865 | €210,209 | +€19,343 | +10.1% |
| Equity | 10/15 | €105,697 | €6,140 | -€99,558 | -94.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,697 | €1,140 | -€99,558 | -98.9% |
| Amounts payable | 17/49 | €85,168 | €204,069 | +€118,901 | +139.6% |
| Amounts payable after more than one year | 17 | €38,470 | €102,156 | +€63,686 | +165.5% |
| Financial debts | 170/4 | €3,470 | €273 | -€3,197 | -92.1% |
| Other amounts payable | 178/9 | €35,000 | €101,883 | +€66,883 | +191.1% |
| Amounts payable within one year | 42/48 | €41,184 | €101,913 | +€60,729 | +147.5% |
| Current portion of amounts payable after more than one year | 42 | €3,060 | €3,137 | +€77 | +2.5% |
| Trade debts | 44 | €12,916 | €4,907 | -€8,009 | -62.0% |
| Suppliers | 440/4 | €12,916 | €4,907 | -€8,009 | -62.0% |
| Taxes, remuneration and social security | 45 | €2,448 | €30,869 | +€28,421 | +1160.9% |
| Taxes | 450/3 | €28 | €28,738 | +€28,710 | +101807.6% |
| Remuneration and social security | 454/9 | €2,420 | €2,131 | -€289 | -11.9% |
| Other amounts payable | 47/48 | €22,759 | €63,000 | +€40,241 | +176.8% |
| Accrued charges and deferred income | 492/3 | €5,514 | - | -€5,514 | |
| Remuneration, social security and pensions | 62 | €18,517 | €19,478 | +€961 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,478 | €14,204 | -€10,274 | -42.0% |
| Other operating charges | 640/8 | €880 | €136 | -€744 | -84.6% |
| Gross operating margin | 9900 | €71,222 | €88,692 | +€17,470 | +24.5% |
| Operating profit (loss) | 9901 | €27,346 | €54,874 | +€27,527 | +100.7% |
| Financial income | 75/76B | €56 | €36 | -€20 | -36.1% |
| Recurring financial income | 75 | €56 | €36 | -€20 | -36.1% |
| Financial charges | 65/66B | €7,091 | €474 | -€6,617 | -93.3% |
| Recurring financial charges | 65 | €7,091 | €474 | -€6,617 | -93.3% |
| Profit (loss) for the period before taxes | 9903 | €20,311 | €54,435 | +€34,124 | +168.0% |
| Income taxes | 67/77 | €3,028 | €13,993 | +€10,965 | +362.1% |
| Profit (loss) for the period | 9904 | €17,283 | €40,442 | +€23,159 | +134.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,283 | €40,442 | +€23,159 | +134.0% |
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 7 October 2026 via checked.be.