GNG: 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.
GNG
Largest movements
- Current investments +€251,880
up €251,880, from €0 to €251,880
- Cash -€250,397
down €250,397 (-80.5%), from €310,908 to €60,510
mainly Current investments (-€251,880) and Contributions, distributions and other (-€232,480)
- Financial fixed assets +€133,000
up €133,000 (+66.3%), from €200,701 to €333,701
- Receivables within one year -€45,394
down €45,394 (-100%), from €45,394 to €0
of which Other amounts receivable: -€45,189
- Tangible fixed assets -€10,622
down €10,622 (-19.1%), from €55,525 to €44,903
of which Furniture and vehicles: -€11,496
- Other debts +€169,634
up €169,634 (+269%), from €63,007 to €232,640
- Reserves -€69,003
down €69,003 (-13.5%), from €509,839 to €440,836
- Gross operating margin +€32,079
up €32,079 (+15.7%), from €204,024 to €236,103
- Taxes +€10,579
up €10,579 (+16.7%), from €63,180 to €73,759
- Depreciation +€2,402
up €2,402 (+21.7%), from €11,053 to €13,455
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €615,902 | €703,298 | +€87,396 | +14.2% |
| Fixed assets | 21/28 | €256,226 | €378,604 | +€122,378 | +47.8% |
| Tangible fixed assets | 22/27 | €55,525 | €44,903 | -€10,622 | -19.1% |
| Plant, machinery and equipment | 23 | - | €2,694 | +€2,694 | |
| Furniture and vehicles | 24 | €48,247 | €36,751 | -€11,496 | -23.8% |
| Other tangible fixed assets | 26 | €7,278 | €5,458 | -€1,819 | -25.0% |
| Financial fixed assets | 28 | €200,701 | €333,701 | +€133,000 | +66.3% |
| Current assets | 29/58 | €359,677 | €324,694 | -€34,982 | -9.7% |
| Amounts receivable within one year | 40/41 | €45,394 | €0 | -€45,394 | -100% |
| Trade receivables | 40 | €205 | €0 | -€205 | -100% |
| Other amounts receivable | 41 | €45,189 | €0 | -€45,189 | -100% |
| Current investments | 50/53 | €0 | €251,880 | +€251,880 | |
| Cash at bank and in hand | 54/58 | €310,908 | €60,510 | -€250,397 | -80.5% |
| Deferred charges and accrued income | 490/1 | €3,375 | €12,304 | +€8,929 | +265% |
| Total equity and liabilities | 10/49 | €615,902 | €703,298 | +€87,396 | +14.2% |
| Equity | 10/15 | €516,339 | €447,336 | -€69,003 | -13.4% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €509,839 | €440,836 | -€69,003 | -13.5% |
| Distributable reserves | 133 | €509,839 | €440,836 | -€69,003 | -13.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €99,563 | €255,962 | +€156,399 | +157% |
| Amounts payable within one year | 42/48 | €98,007 | €255,752 | +€157,744 | +161% |
| Trade debts | 44 | €9,259 | €2,612 | -€6,647 | -71.8% |
| Suppliers | 440/4 | €9,259 | €2,612 | -€6,647 | -71.8% |
| Taxes, remuneration and social security | 45 | €25,742 | €20,499 | -€5,243 | -20.4% |
| Taxes | 450/3 | €23,092 | €20,499 | -€2,593 | -11.2% |
| Remuneration and social security | 454/9 | €2,650 | €0 | -€2,650 | -100% |
| Other amounts payable | 47/48 | €63,007 | €232,640 | +€169,634 | +269% |
| Accrued charges and deferred income | 492/3 | €1,556 | €210 | -€1,345 | -86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,053 | €13,455 | +€2,402 | +21.7% |
| Other operating charges | 640/8 | €2,880 | €573 | -€2,307 | -80.1% |
| Gross operating margin | 9900 | €204,024 | €236,103 | +€32,079 | +15.7% |
| Operating profit (loss) | 9901 | €190,091 | €222,075 | +€31,984 | +16.8% |
| Financial income | 75/76B | €13,404 | €15,668 | +€2,264 | +16.9% |
| Recurring financial income | 75 | €13,404 | €15,668 | +€2,264 | +16.9% |
| Financial charges | 65/66B | €316 | €507 | +€192 | +60.7% |
| Recurring financial charges | 65 | €316 | €507 | +€192 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €203,180 | €237,236 | +€34,056 | +16.8% |
| Income taxes | 67/77 | €63,180 | €73,759 | +€10,579 | +16.7% |
| Profit (loss) for the period | 9904 | €140,000 | €163,477 | +€23,477 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €140,000 | €163,477 | +€23,477 | +16.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.