GKW Floré: 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.
What changed
GKW Floré
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€537,804
2024 · €30.4m-€29.9m
Equity
€49.6m
2024 · €49.1m+€537,804
Cash
€358,763
2024 · €483,858-€125,095
Balance sheet total
€50.8m
2024 · €50.2m+€630,278
Largest movements
Assets
- Tangible fixed assets +€2.4m
up €2.4m (+245%), from €959,000 to €3.3m
of which Land and buildings: +€2.3m
- Current investments -€1.5m
down €1.5m (-15.5%), from €10.0m to €8.4m
Equity and liabilities
- Reserves +€537,804
up €537,804 (+1.6%), from €33.8m to €34.3m
of which Distributable reserves: +€537,804
Income statement
- Financial income -€30.0m
down €30.0m (-94.3%), from €31.8m to €1.8m
of which Non-recurring financial income: -€30.4m
- Gross operating margin +€571,720
up €571,720 (+68.1%), from -€839,094 to -€267,375
- Financial charges +€490,886
up €490,886 (+261%), from €188,403 to €679,288
of which Non-recurring financial charges: +€487,946
- Taxes -€315,653
down €315,653 (-100.0%), from €315,789 to €137
- Depreciation +€173,753
up €173,753 (+201%), from €86,280 to €260,033
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.
Result 2024
€30.4m
Gross operating margin
+€571,720
Depreciation
-€173,753
Write-downs
-€54,451
Other operating charges
+€445
Financial income
-€30.0m
Financial charges
-€490,886
Taxes
+€315,653
Result 2025
€537,804
raises the resultlowers the result
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.
From operations
+€1.1m
Investment
-€1.0m
Financing
-€138,428
Cash 2024
€483,858
From operations (derived)
+€1.1m
Net result for the year
+€537,804
Depreciation
+€260,033
Receivables within one year
+€21,893
Deferred charges and accrued income
+€4,001
Trade debts
+€9,613
Tax, wage and social debts
-€253,354
Other debts
+€504,027
Accrued charges and deferred income
-€29,385
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€2.6m
Current investments
+€1.5m
Financing
-€138,428
Debts after one year
-€140,827
Current portion of long-term debt
+€2,399
Cash 2025
€358,763
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,159,135 | €50,789,413 | +€630,278 | +1.3% |
| Fixed assets | 21/28 | €38,294,459 | €40,623,974 | +€2.3m | +6.1% |
| Tangible fixed assets | 22/27 | €959,000 | €3,310,141 | +€2.4m | +245% |
| Land and buildings | 22 | €959,000 | €3,300,222 | +€2.3m | +244% |
| Plant, machinery and equipment | 23 | - | €3,899 | +€3,899 | |
| Furniture and vehicles | 24 | - | €6,020 | +€6,020 | |
| Financial fixed assets | 28 | €37,335,459 | €37,313,834 | -€21,626 | -0.1% |
| Current assets | 29/58 | €11,864,676 | €10,165,439 | -€1.7m | -14.3% |
| Amounts receivable after more than one year | 29 | €452,000 | €452,000 | = | 0.0% |
| Other amounts receivable | 291 | €452,000 | €452,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €828,485 | €806,593 | -€21,893 | -2.6% |
| Trade receivables | 40 | €54,324 | €0 | -€54,324 | -100% |
| Other amounts receivable | 41 | €774,161 | €806,593 | +€32,431 | +4.2% |
| Current investments | 50/53 | €9,965,000 | €8,416,752 | -€1.5m | -15.5% |
| Cash at bank and in hand | 54/58 | €483,858 | €358,763 | -€125,095 | -25.9% |
| Deferred charges and accrued income | 490/1 | €135,332 | €131,331 | -€4,001 | -3.0% |
| Total equity and liabilities | 10/49 | €50,159,135 | €50,789,413 | +€630,278 | +1.3% |
| Equity | 10/15 | €49,063,138 | €49,600,942 | +€537,804 | +1.1% |
| Contributions | 10/11 | €15,279,000 | €15,279,000 | = | 0.0% |
| Reserves | 13 | €33,784,138 | €34,321,942 | +€537,804 | +1.6% |
| Non-distributable reserves | 130/1 | €36,700 | €36,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €36,700 | €36,700 | = | 0.0% |
| Distributable reserves | 133 | €33,747,438 | €34,285,242 | +€537,804 | +1.6% |
| Amounts payable | 17/49 | €1,095,997 | €1,188,471 | +€92,474 | +8.4% |
| Amounts payable after more than one year | 17 | €218,827 | €78,000 | -€140,827 | -64.4% |
| Financial debts | 170/4 | €218,827 | €78,000 | -€140,827 | -64.4% |
| Amounts payable within one year | 42/48 | €820,628 | €1,083,314 | +€262,685 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €138,428 | €140,827 | +€2,399 | +1.7% |
| Trade debts | 44 | €10,205 | €19,818 | +€9,613 | +94.2% |
| Suppliers | 440/4 | €10,205 | €19,818 | +€9,613 | +94.2% |
| Taxes, remuneration and social security | 45 | €257,536 | €4,182 | -€253,354 | -98.4% |
| Taxes | 450/3 | €257,536 | €4,182 | -€253,354 | -98.4% |
| Other amounts payable | 47/48 | €414,460 | €918,487 | +€504,027 | +122% |
| Accrued charges and deferred income | 492/3 | €56,542 | €27,157 | -€29,385 | -52.0% |
| Non-recurring operating income | 76A | €160,778 | €0 | -€160,778 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,280 | €260,033 | +€173,753 | +201% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €54,451 | +€54,451 | |
| Other operating charges | 640/8 | €3,874 | €3,429 | -€445 | -11.5% |
| Gross operating margin | 9900 | -€839,094 | -€267,375 | +€571,720 | +68.1% |
| Operating profit (loss) | 9901 | -€929,249 | -€585,288 | +€343,961 | +37.0% |
| Financial income | 75/76B | €31,848,435 | €1,802,517 | -€30.0m | -94.3% |
| Recurring financial income | 75 | €833,230 | €1,235,517 | +€402,287 | +48.3% |
| Non-recurring financial income | 76B | €31,015,204 | €567,000 | -€30.4m | -98.2% |
| Financial charges | 65/66B | €188,403 | €679,288 | +€490,886 | +261% |
| Recurring financial charges | 65 | €21,403 | €24,343 | +€2,940 | +13.7% |
| Non-recurring financial charges | 66B | €167,000 | €654,946 | +€487,946 | +292% |
| Profit (loss) for the period before taxes | 9903 | €30,730,784 | €537,941 | -€30.2m | -98.2% |
| Income taxes | 67/77 | €315,789 | €137 | -€315,653 | -100.0% |
| Profit (loss) for the period | 9904 | €30,414,994 | €537,804 | -€29.9m | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,414,994 | €537,804 | -€29.9m | -98.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.