GNG COATING: 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 COATING
Largest movements
- Cash +€47,480
up €47,480 (+55.1%), from €86,170 to €133,650
mainly Net result for the year (+€93,342) and Depreciation (+€36,362)
- Receivables within one year +€26,734
up €26,734 (+41.5%), from €64,349 to €91,083
of which Trade receivables: +€27,936
- Tangible fixed assets -€17,695
down €17,695 (-4.4%), from €405,607 to €387,912
of which Plant, machinery and equipment: -€16,798
- Stocks and contracts +€12,155
up €12,155 (+33.2%), from €36,626 to €48,781
- Profit (loss) carried forward +€58,048
up €58,048 (+26.2%), from €221,899 to €279,947
- Debts after one year -€32,720
down €32,720 (-11.0%), from €296,950 to €264,230
- Tax, wage and social debts +€28,133
up €28,133 (+117%), from €24,062 to €52,195
of which Remuneration and social security: +€14,383
- Trade debts +€24,667
up €24,667 (+717%), from €3,442 to €28,108
- Current portion of long-term debt -€9,033
down €9,033 (-21.6%), from €41,753 to €32,720
- Gross operating margin +€63,042
up €63,042 (+25.7%), from €245,276 to €308,318
- Depreciation -€38,745
down €38,745 (-51.6%), from €75,107 to €36,362
- Taxes +€19,605
up €19,605 (+144%), from €13,574 to €33,179
- Staff costs +€18,918
up €18,918 (+16.9%), from €111,735 to €130,653
- Financial charges +€5,071
up €5,071 (+100%), from €5,063 to €10,135
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 | €598,106 | €667,200 | +€69,094 | +11.6% |
| Fixed assets | 21/28 | €405,742 | €387,947 | -€17,795 | -4.4% |
| Tangible fixed assets | 22/27 | €405,607 | €387,912 | -€17,695 | -4.4% |
| Land and buildings | 22 | €326,339 | €309,810 | -€16,529 | -5.1% |
| Plant, machinery and equipment | 23 | €74,022 | €57,224 | -€16,798 | -22.7% |
| Furniture and vehicles | 24 | €4,825 | €3,611 | -€1,214 | -25.2% |
| Other tangible fixed assets | 26 | €421 | €17,267 | +€16,845 | +3,998% |
| Financial fixed assets | 28 | €135 | €35 | -€100 | -74.1% |
| Current assets | 29/58 | €192,364 | €279,253 | +€86,889 | +45.2% |
| Stocks and contracts in progress | 3 | €36,626 | €48,781 | +€12,155 | +33.2% |
| Stocks | 30/36 | €36,626 | €48,781 | +€12,155 | +33.2% |
| Amounts receivable within one year | 40/41 | €64,349 | €91,083 | +€26,734 | +41.5% |
| Trade receivables | 40 | €63,088 | €91,023 | +€27,936 | +44.3% |
| Other amounts receivable | 41 | €1,261 | €60 | -€1,201 | -95.2% |
| Cash at bank and in hand | 54/58 | €86,170 | €133,650 | +€47,480 | +55.1% |
| Deferred charges and accrued income | 490/1 | €5,219 | €5,739 | +€520 | +10.0% |
| Total equity and liabilities | 10/49 | €598,106 | €667,200 | +€69,094 | +11.6% |
| Equity | 10/15 | €231,899 | €289,947 | +€58,048 | +25.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €221,899 | €279,947 | +€58,048 | +26.2% |
| Amounts payable | 17/49 | €366,207 | €377,253 | +€11,046 | +3.0% |
| Amounts payable after more than one year | 17 | €296,950 | €264,230 | -€32,720 | -11.0% |
| Financial debts | 170/4 | €296,950 | €264,230 | -€32,720 | -11.0% |
| Amounts payable within one year | 42/48 | €69,257 | €113,023 | +€43,766 | +63.2% |
| Current portion of amounts payable after more than one year | 42 | €41,753 | €32,720 | -€9,033 | -21.6% |
| Trade debts | 44 | €3,442 | €28,108 | +€24,667 | +717% |
| Suppliers | 440/4 | €3,442 | €28,108 | +€24,667 | +717% |
| Taxes, remuneration and social security | 45 | €24,062 | €52,195 | +€28,133 | +117% |
| Taxes | 450/3 | €15,110 | €28,860 | +€13,749 | +91.0% |
| Remuneration and social security | 454/9 | €8,952 | €23,335 | +€14,383 | +161% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €111,735 | €130,653 | +€18,918 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,107 | €36,362 | -€38,745 | -51.6% |
| Other operating charges | 640/8 | €2,453 | €4,664 | +€2,212 | +90.2% |
| Gross operating margin | 9900 | €245,276 | €308,318 | +€63,042 | +25.7% |
| Operating profit (loss) | 9901 | €55,982 | €136,639 | +€80,658 | +144% |
| Financial income | 75/76B | €51 | €16 | -€35 | -69.3% |
| Recurring financial income | 75 | €51 | €16 | -€35 | -69.3% |
| Financial charges | 65/66B | €5,063 | €10,135 | +€5,071 | +100% |
| Recurring financial charges | 65 | €5,063 | €10,135 | +€5,071 | +100% |
| Profit (loss) for the period before taxes | 9903 | €50,970 | €126,520 | +€75,551 | +148% |
| Income taxes | 67/77 | €13,574 | €33,179 | +€19,605 | +144% |
| Profit (loss) for the period | 9904 | €37,396 | €93,342 | +€55,946 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €37,396 | €93,342 | +€55,946 | +150% |
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 15 October 2026 via checked.be.