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
- Cash -€492,499
down €492,499 (-93.5%), from €526,587 to €34,087
mainly Current portion of long-term debt (-€504,407) and Receivables within one year (-€3,936)
- Current portion of long-term debt -€504,407
down €504,407 (-74.9%), from €673,157 to €168,750
- Reserves +€8,606
up €8,606 (+19.0%), from €45,364 to €53,969
- Financial income -€5,736
down €5,736 (-85.8%), from €6,682 to €946
- Taxes -€1,923
down €1,923 (-40.1%), from €4,791 to €2,869
- Gross operating margin -€1,441
down €1,441 (-6.5%), from €22,317 to €20,876
- Other operating charges +€511
up €511 (+34.3%), from €1,489 to €2,001
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 | €746,239 | €251,305 | -€494,934 | -66.3% |
| Fixed assets | 21/28 | €219,653 | €213,282 | -€6,370 | -2.9% |
| Tangible fixed assets | 22/27 | €219,653 | €213,282 | -€6,370 | -2.9% |
| Other tangible fixed assets | 26 | €219,653 | €213,282 | -€6,370 | -2.9% |
| Current assets | 29/58 | €526,587 | €38,023 | -€488,563 | -92.8% |
| Amounts receivable within one year | 40/41 | - | €3,936 | +€3,936 | |
| Other amounts receivable | 41 | - | €3,936 | +€3,936 | |
| Cash at bank and in hand | 54/58 | €526,587 | €34,087 | -€492,499 | -93.5% |
| Total equity and liabilities | 10/49 | €746,239 | €251,305 | -€494,934 | -66.3% |
| Equity | 10/15 | €63,964 | €72,569 | +€8,606 | +13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,364 | €53,969 | +€8,606 | +19.0% |
| Distributable reserves | 133 | €45,364 | €53,969 | +€8,606 | +19.0% |
| Amounts payable | 17/49 | €682,276 | €178,736 | -€503,539 | -73.8% |
| Amounts payable within one year | 42/48 | €680,976 | €177,436 | -€503,539 | -73.9% |
| Current portion of amounts payable after more than one year | 42 | €673,157 | €168,750 | -€504,407 | -74.9% |
| Trade debts | 44 | - | €287 | +€287 | |
| Suppliers | 440/4 | - | €287 | +€287 | |
| Taxes, remuneration and social security | 45 | €668 | - | -€668 | |
| Taxes | 450/3 | €668 | - | -€668 | |
| Other amounts payable | 47/48 | €7,151 | €8,399 | +€1,248 | +17.5% |
| Accrued charges and deferred income | 492/3 | €1,300 | €1,300 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,370 | €6,370 | = | 0.0% |
| Other operating charges | 640/8 | €1,489 | €2,001 | +€511 | +34.3% |
| Gross operating margin | 9900 | €22,317 | €20,876 | -€1,441 | -6.5% |
| Operating profit (loss) | 9901 | €14,457 | €12,505 | -€1,953 | -13.5% |
| Financial income | 75/76B | €6,682 | €946 | -€5,736 | -85.8% |
| Recurring financial income | 75 | €6,682 | €946 | -€5,736 | -85.8% |
| Financial charges | 65/66B | €1,976 | €1,976 | = | 0.0% |
| Recurring financial charges | 65 | €1,976 | €1,976 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €19,163 | €11,474 | -€7,689 | -40.1% |
| Income taxes | 67/77 | €4,791 | €2,869 | -€1,923 | -40.1% |
| Profit (loss) for the period | 9904 | €14,371 | €8,606 | -€5,766 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,371 | €8,606 | -€5,766 | -40.1% |
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 10 October 2026 via checked.be.