GL Expert: 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 Expert
Largest movements
- Receivables within one year +€93,376
up €93,376 (+41.6%), from €224,445 to €317,820
of which Trade receivables: +€95,376
- Cash +€61,736
up €61,736 (+81.8%), from €75,451 to €137,187
mainly Net result for the year (+€263,888) and Other debts (+€89,305)
- Tangible fixed assets -€13,880
down €13,880 (-23.1%), from €59,992 to €46,113
of which Furniture and vehicles: -€15,332
- Reserves +€200,000
up €200,000 (+1101.3%), from €18,160 to €218,160
of which Distributable reserves: +€200,000
- Debts after one year -€187,149
down €187,149 (-97.7%), from €191,496 to €4,346
of which Other amounts payable: -€170,500
- Other debts +€89,305
up €89,305 (+108.7%), from €82,153 to €171,458
- Tax, wage and social debts +€36,713
up €36,713 (+138.2%), from €26,556 to €63,269
of which Taxes: +€35,471
- Gross operating margin +€186,002
up €186,002 (+72.8%), from €255,552 to €441,553
- Taxes +€63,636
up €63,636 (+140.2%), from €45,392 to €109,028
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 | €361,510 | €503,524 | +€142,014 | +39.3% |
| Fixed assets | 21/28 | €59,992 | €46,113 | -€13,880 | -23.1% |
| Tangible fixed assets | 22/27 | €59,992 | €46,113 | -€13,880 | -23.1% |
| Furniture and vehicles | 24 | €53,518 | €38,186 | -€15,332 | -28.6% |
| Other tangible fixed assets | 26 | €6,474 | €7,927 | +€1,452 | +22.4% |
| Current assets | 29/58 | €301,518 | €457,411 | +€155,893 | +51.7% |
| Amounts receivable within one year | 40/41 | €224,445 | €317,820 | +€93,376 | +41.6% |
| Trade receivables | 40 | €37,068 | €132,444 | +€95,376 | +257.3% |
| Other amounts receivable | 41 | €187,376 | €185,376 | -€2,000 | -1.1% |
| Cash at bank and in hand | 54/58 | €75,451 | €137,187 | +€61,736 | +81.8% |
| Deferred charges and accrued income | 490/1 | €1,622 | €2,404 | +€782 | +48.2% |
| Total equity and liabilities | 10/49 | €361,510 | €503,524 | +€142,014 | +39.3% |
| Equity | 10/15 | €37,620 | €238,509 | +€200,888 | +534.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,160 | €218,160 | +€200,000 | +1101.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €16,300 | €216,300 | +€200,000 | +1227.0% |
| Profit (loss) carried forward | 14 | €860 | €1,749 | +€888 | +103.2% |
| Amounts payable | 17/49 | €323,890 | €265,015 | -€58,874 | -18.2% |
| Amounts payable after more than one year | 17 | €191,496 | €4,346 | -€187,149 | -97.7% |
| Financial debts | 170/4 | €20,996 | €4,346 | -€16,649 | -79.3% |
| Other amounts payable | 178/9 | €170,500 | - | -€170,500 | |
| Amounts payable within one year | 42/48 | €132,394 | €260,669 | +€128,275 | +96.9% |
| Current portion of amounts payable after more than one year | 42 | €22,293 | €23,413 | +€1,120 | +5.0% |
| Trade debts | 44 | €1,391 | €2,529 | +€1,138 | +81.8% |
| Suppliers | 440/4 | €1,391 | €2,529 | +€1,138 | +81.8% |
| Taxes, remuneration and social security | 45 | €26,556 | €63,269 | +€36,713 | +138.2% |
| Taxes | 450/3 | €19,625 | €55,096 | +€35,471 | +180.7% |
| Remuneration and social security | 454/9 | €6,931 | €8,173 | +€1,242 | +17.9% |
| Other amounts payable | 47/48 | €82,153 | €171,458 | +€89,305 | +108.7% |
| Remuneration, social security and pensions | 62 | €42,383 | €46,161 | +€3,778 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,631 | €19,385 | +€755 | +4.0% |
| Other operating charges | 640/8 | €1,022 | €1,142 | +€120 | +11.7% |
| Gross operating margin | 9900 | €255,552 | €441,553 | +€186,002 | +72.8% |
| Operating profit (loss) | 9901 | €193,516 | €374,865 | +€181,349 | +93.7% |
| Financial income | 75/76B | - | €238 | +€238 | |
| Recurring financial income | 75 | - | €238 | +€238 | |
| Financial charges | 65/66B | €1,769 | €2,187 | +€418 | +23.6% |
| Recurring financial charges | 65 | €1,769 | €2,187 | +€418 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €191,747 | €372,916 | +€181,169 | +94.5% |
| Income taxes | 67/77 | €45,392 | €109,028 | +€63,636 | +140.2% |
| Profit (loss) for the period | 9904 | €146,355 | €263,888 | +€117,534 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €146,355 | €263,888 | +€117,534 | +80.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.