GNR: 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.
GNR
Largest movements
- Receivables within one year -€18,101
down €18,101 (-33.8%), from €53,476 to €35,375
of which Trade receivables: -€19,015
- Cash -€6,393
down €6,393 (-75.1%), from €8,509 to €2,116
mainly Net result for the year (-€21,338) and Other debts (-€1,946)
- Tangible fixed assets +€980
up €980 (+79.9%), from €1,226 to €2,206
- Profit (loss) carried forward -€21,338
down €21,338, from €14,609 to -€6,729
- Other debts -€1,946
down €1,946 (-68.5%), from €2,840 to €894
- Tax, wage and social debts -€813
down €813 (-12.3%), from €6,624 to €5,811
of which Taxes: -€1,316
- Staff costs +€9,149
up €9,149 (+35.3%), from €25,953 to €35,102
- Financial charges +€6,629
up €6,629 (+279%), from €2,378 to €9,007
- Gross operating margin -€3,986
down €3,986 (-14.3%), from €27,961 to €23,975
- Depreciation -€912
down €912 (-66.1%), from €1,379 to €467
- Taxes +€592
up €592, from -€412 to €180
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 | €63,945 | €40,453 | -€23,492 | -36.7% |
| Fixed assets | 21/28 | €1,226 | €2,206 | +€980 | +79.9% |
| Tangible fixed assets | 22/27 | €1,226 | €2,206 | +€980 | +79.9% |
| Furniture and vehicles | 24 | €1,226 | €2,206 | +€980 | +79.9% |
| Current assets | 29/58 | €62,719 | €38,247 | -€24,472 | -39.0% |
| Amounts receivable within one year | 40/41 | €53,476 | €35,375 | -€18,101 | -33.8% |
| Trade receivables | 40 | €51,989 | €32,974 | -€19,015 | -36.6% |
| Other amounts receivable | 41 | €1,487 | €2,401 | +€914 | +61.5% |
| Cash at bank and in hand | 54/58 | €8,509 | €2,116 | -€6,393 | -75.1% |
| Deferred charges and accrued income | 490/1 | €734 | €756 | +€22 | +3.0% |
| Total equity and liabilities | 10/49 | €63,945 | €40,453 | -€23,492 | -36.7% |
| Equity | 10/15 | €22,069 | €731 | -€21,338 | -96.7% |
| Contributions | 10/11 | €6,900 | €6,900 | = | 0.0% |
| Reserves | 13 | €560 | €560 | = | 0.0% |
| Non-distributable reserves | 130/1 | €560 | €560 | = | 0.0% |
| Reserves not available under the articles | 1311 | €560 | €560 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,609 | -€6,729 | -€21,338 | |
| Amounts payable | 17/49 | €41,876 | €39,722 | -€2,154 | -5.1% |
| Amounts payable within one year | 42/48 | €41,810 | €39,655 | -€2,155 | -5.2% |
| Trade debts | 44 | €32,346 | €32,950 | +€604 | +1.9% |
| Suppliers | 440/4 | €32,346 | €32,950 | +€604 | +1.9% |
| Taxes, remuneration and social security | 45 | €6,624 | €5,811 | -€813 | -12.3% |
| Taxes | 450/3 | €2,053 | €737 | -€1,316 | -64.1% |
| Remuneration and social security | 454/9 | €4,571 | €5,074 | +€503 | +11.0% |
| Other amounts payable | 47/48 | €2,840 | €894 | -€1,946 | -68.5% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +1.5% |
| Remuneration, social security and pensions | 62 | €25,953 | €35,102 | +€9,149 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,379 | €467 | -€912 | -66.1% |
| Other operating charges | 640/8 | €286 | €559 | +€273 | +95.5% |
| Gross operating margin | 9900 | €27,961 | €23,975 | -€3,986 | -14.3% |
| Operating profit (loss) | 9901 | €343 | -€12,153 | -€12,496 | |
| Financial income | 75/76B | €22 | €2 | -€20 | -90.9% |
| Recurring financial income | 75 | €22 | €2 | -€20 | -90.9% |
| Financial charges | 65/66B | €2,378 | €9,007 | +€6,629 | +279% |
| Recurring financial charges | 65 | €2,378 | €9,007 | +€6,629 | +279% |
| Profit (loss) for the period before taxes | 9903 | -€2,013 | -€21,158 | -€19,145 | -951% |
| Income taxes | 67/77 | -€412 | €180 | +€592 | |
| Profit (loss) for the period | 9904 | -€1,601 | -€21,338 | -€19,737 | -1,233% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,601 | -€21,338 | -€19,737 | -1,233% |
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 18 October 2026 via checked.be.