GNP: 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.
GNP
Largest movements
- Receivables after one year -€40,000
down €40,000 (-27.6%), from €145,000 to €105,000
- Receivables within one year +€34,324
up €34,324 (+85.0%), from €40,396 to €74,720
of which Trade receivables: +€27,163
- Tangible fixed assets -€6,438
down €6,438 (-5.5%), from €117,454 to €111,016
of which Land and buildings: -€3,933
- Stocks and contracts +€4,224
up €4,224 (+248.8%), from €1,698 to €5,922
- Cash -€4,214
down €4,214 (-34.8%), from €12,094 to €7,879
mainly Contributions, distributions and other (-€55,000) and Receivables within one year (-€34,324)
- Accrued charges and deferred income -€29,240
down €29,240 (-95.1%), from €30,740 to €1,500
- Other debts +€27,165
up €27,165 (+97.2%), from €27,950 to €55,115
- Tax, wage and social debts -€17,923
down €17,923 (-84.3%), from €21,250 to €3,327
of which Remuneration and social security: -€17,843
- Short-term financial debts +€12,527
new in 2025: €12,527
- Debts after one year -€8,346
down €8,346 (-4.2%), from €198,541 to €190,195
- Gross operating margin +€26,858
up €26,858 (+46.7%), from €57,486 to €84,344
- Taxes +€4,552
up €4,552 (+136.4%), from €3,338 to €7,890
- Depreciation +€1,583
up €1,583 (+17.5%), from €9,023 to €10,606
- Financial charges +€1,486
up €1,486 (+12.2%), from €12,203 to €13,689
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 | €322,393 | €308,965 | -€13,428 | -4.2% |
| Fixed assets | 21/28 | €117,454 | €111,016 | -€6,438 | -5.5% |
| Tangible fixed assets | 22/27 | €117,454 | €111,016 | -€6,438 | -5.5% |
| Land and buildings | 22 | €111,464 | €107,531 | -€3,933 | -3.5% |
| Plant, machinery and equipment | 23 | €3,155 | €1,266 | -€1,889 | -59.9% |
| Furniture and vehicles | 24 | €2,835 | €2,219 | -€617 | -21.7% |
| Current assets | 29/58 | €204,939 | €197,949 | -€6,990 | -3.4% |
| Amounts receivable after more than one year | 29 | €145,000 | €105,000 | -€40,000 | -27.6% |
| Other amounts receivable | 291 | €145,000 | €105,000 | -€40,000 | -27.6% |
| Stocks and contracts in progress | 3 | €1,698 | €5,922 | +€4,224 | +248.8% |
| Stocks | 30/36 | €1,698 | €5,922 | +€4,224 | +248.8% |
| Amounts receivable within one year | 40/41 | €40,396 | €74,720 | +€34,324 | +85.0% |
| Trade receivables | 40 | €40,396 | €67,559 | +€27,163 | +67.2% |
| Other amounts receivable | 41 | - | €7,161 | +€7,161 | |
| Cash at bank and in hand | 54/58 | €12,094 | €7,879 | -€4,214 | -34.8% |
| Deferred charges and accrued income | 490/1 | €5,751 | €4,429 | -€1,323 | -23.0% |
| Total equity and liabilities | 10/49 | €322,393 | €308,965 | -€13,428 | -4.2% |
| Equity | 10/15 | €28,665 | €28,433 | -€232 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,065 | €9,833 | -€232 | -2.3% |
| Distributable reserves | 133 | €10,065 | €9,833 | -€232 | -2.3% |
| Amounts payable | 17/49 | €293,728 | €280,532 | -€13,196 | -4.5% |
| Amounts payable after more than one year | 17 | €198,541 | €190,195 | -€8,346 | -4.2% |
| Financial debts | 170/4 | €198,541 | €190,195 | -€8,346 | -4.2% |
| Amounts payable within one year | 42/48 | €64,447 | €88,837 | +€24,390 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €7,271 | €8,346 | +€1,075 | +14.8% |
| Financial debts | 43 | - | €12,527 | +€12,527 | |
| Credit institutions | 430/8 | - | €12,527 | +€12,527 | |
| Trade debts | 44 | €7,976 | €9,522 | +€1,546 | +19.4% |
| Suppliers | 440/4 | €7,976 | €9,522 | +€1,546 | +19.4% |
| Taxes, remuneration and social security | 45 | €21,250 | €3,327 | -€17,923 | -84.3% |
| Taxes | 450/3 | €3,406 | €3,327 | -€79 | -2.3% |
| Remuneration and social security | 454/9 | €17,843 | - | -€17,843 | |
| Other amounts payable | 47/48 | €27,950 | €55,115 | +€27,165 | +97.2% |
| Accrued charges and deferred income | 492/3 | €30,740 | €1,500 | -€29,240 | -95.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,023 | €10,606 | +€1,583 | +17.5% |
| Other operating charges | 640/8 | €754 | €709 | -€45 | -6.0% |
| Non-recurring operating charges | 66A | €1,561 | - | -€1,561 | |
| Gross operating margin | 9900 | €57,486 | €84,344 | +€26,858 | +46.7% |
| Operating profit (loss) | 9901 | €46,147 | €73,028 | +€26,881 | +58.3% |
| Financial income | 75/76B | €3,861 | €3,318 | -€543 | -14.1% |
| Recurring financial income | 75 | €3,861 | €3,318 | -€543 | -14.1% |
| Financial charges | 65/66B | €12,203 | €13,689 | +€1,486 | +12.2% |
| Recurring financial charges | 65 | €12,203 | €13,689 | +€1,486 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €37,805 | €62,658 | +€24,853 | +65.7% |
| Income taxes | 67/77 | €3,338 | €7,890 | +€4,552 | +136.4% |
| Profit (loss) for the period | 9904 | €34,467 | €54,768 | +€20,301 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,467 | €54,768 | +€20,301 | +58.9% |
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 4 October 2026 via checked.be.