GL Concept: 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.
GL Concept
Largest movements
- Cash +€46,457
up €46,457 (+8.0%), from €578,769 to €625,226
mainly Net result for the year (+€101,403) and Investment in fixed assets (net) (+€45,496)
- Tangible fixed assets -€45,978
down €45,978 (-99.5%), from €46,219 to €241
- Receivables within one year -€20,407
down €20,407 (-20.8%), from €98,301 to €77,894
of which Trade receivables: -€23,100
- Reserves -€160,000
down €160,000 (-20.0%), from €801,860 to €641,860
- Profit (loss) carried forward +€101,403
up €101,403 (+11.6%), from €877,568 to €978,972
- Other debts +€40,014
up €40,014 (+32.1%), from €124,810 to €164,824
- Gross operating margin -€45,907
down €45,907 (-23.7%), from €193,893 to €147,986
- Depreciation -€12,198
down €12,198 (-96.2%), from €12,679 to €481
- Other operating charges +€10,220
up €10,220 (+865.7%), from €1,181 to €11,401
- Taxes -€8,937
down €8,937 (-18.9%), from €47,213 to €38,276
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 | €1,834,226 | €1,814,530 | -€19,697 | -1.1% |
| Fixed assets | 21/28 | €1,154,419 | €1,108,441 | -€45,978 | -4.0% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €46,219 | €241 | -€45,978 | -99.5% |
| Furniture and vehicles | 24 | €46,219 | €241 | -€45,978 | -99.5% |
| Financial fixed assets | 28 | €1,108,200 | €1,108,200 | = | 0.0% |
| Current assets | 29/58 | €679,808 | €706,089 | +€26,281 | +3.9% |
| Amounts receivable within one year | 40/41 | €98,301 | €77,894 | -€20,407 | -20.8% |
| Trade receivables | 40 | €83,100 | €60,000 | -€23,100 | -27.8% |
| Other amounts receivable | 41 | €15,201 | €17,894 | +€2,693 | +17.7% |
| Cash at bank and in hand | 54/58 | €578,769 | €625,226 | +€46,457 | +8.0% |
| Deferred charges and accrued income | 490/1 | €2,738 | €2,968 | +€230 | +8.4% |
| Total equity and liabilities | 10/49 | €1,834,226 | €1,814,530 | -€19,697 | -1.1% |
| Equity | 10/15 | €1,698,028 | €1,639,432 | -€58,597 | -3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €801,860 | €641,860 | -€160,000 | -20.0% |
| Distributable reserves | 133 | €801,860 | €641,860 | -€160,000 | -20.0% |
| Profit (loss) carried forward | 14 | €877,568 | €978,972 | +€101,403 | +11.6% |
| Amounts payable | 17/49 | €136,198 | €175,098 | +€38,900 | +28.6% |
| Amounts payable within one year | 42/48 | €136,182 | €175,098 | +€38,917 | +28.6% |
| Trade debts | 44 | €1,199 | €2,508 | +€1,309 | +109.2% |
| Suppliers | 440/4 | €1,199 | €2,508 | +€1,309 | +109.2% |
| Taxes, remuneration and social security | 45 | €10,173 | €7,766 | -€2,406 | -23.7% |
| Taxes | 450/3 | €10,173 | €7,766 | -€2,406 | -23.7% |
| Other amounts payable | 47/48 | €124,810 | €164,824 | +€40,014 | +32.1% |
| Accrued charges and deferred income | 492/3 | €17 | - | -€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,679 | €481 | -€12,198 | -96.2% |
| Other operating charges | 640/8 | €1,181 | €11,401 | +€10,220 | +865.7% |
| Gross operating margin | 9900 | €193,893 | €147,986 | -€45,907 | -23.7% |
| Operating profit (loss) | 9901 | €180,034 | €136,104 | -€43,929 | -24.4% |
| Financial income | 75/76B | €5,731 | €3,902 | -€1,829 | -31.9% |
| Recurring financial income | 75 | €5,731 | €3,902 | -€1,829 | -31.9% |
| Financial charges | 65/66B | €93 | €327 | +€234 | +251.3% |
| Recurring financial charges | 65 | €93 | €327 | +€234 | +251.3% |
| Profit (loss) for the period before taxes | 9903 | €185,671 | €139,680 | -€45,992 | -24.8% |
| Income taxes | 67/77 | €47,213 | €38,276 | -€8,937 | -18.9% |
| Profit (loss) for the period | 9904 | €138,458 | €101,403 | -€37,055 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €138,458 | €101,403 | -€37,055 | -26.8% |
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 2 October 2026 via checked.be.