GOK-SEL: 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.
GOK-SEL
Largest movements
- Tangible fixed assets -€10,628
down €10,628 (-39.2%), from €27,137 to €16,509
of which Furniture and vehicles: -€5,950
- Receivables within one year +€6,703
up €6,703 (+10.2%), from €65,862 to €72,565
of which Other amounts receivable: +€6,045
- Profit (loss) carried forward +€7,270
up €7,270 (+17.6%), from €41,256 to €48,526
- Debts after one year -€6,355
down €6,355 (-32.5%), from €19,579 to €13,225
- Tax, wage and social debts -€4,503
down €4,503 (-20.7%), from €21,795 to €17,292
of which Remuneration and social security: -€7,408
- Trade debts -€3,034
down €3,034 (-65.8%), from €4,608 to €1,574
- Short-term financial debts +€1,402
new in 2025: €1,402
- Gross operating margin -€44,958
down €44,958 (-66.0%), from €68,069 to €23,111
- Staff costs -€28,224
no longer reported in 2025 (was €28,224)
- Taxes -€2,543
down €2,543 (-46.7%), from €5,448 to €2,905
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 | €93,761 | €89,374 | -€4,388 | -4.7% |
| Fixed assets | 21/28 | €27,437 | €16,809 | -€10,628 | -38.7% |
| Tangible fixed assets | 22/27 | €27,137 | €16,509 | -€10,628 | -39.2% |
| Furniture and vehicles | 24 | €12,976 | €7,026 | -€5,950 | -45.9% |
| Leasing and similar rights | 25 | €14,161 | €9,484 | -€4,678 | -33.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €66,325 | €72,565 | +€6,240 | +9.4% |
| Amounts receivable within one year | 40/41 | €65,862 | €72,565 | +€6,703 | +10.2% |
| Trade receivables | 40 | €23,144 | €23,802 | +€658 | +2.8% |
| Other amounts receivable | 41 | €42,717 | €48,762 | +€6,045 | +14.2% |
| Cash at bank and in hand | 54/58 | €463 | - | -€463 | |
| Total equity and liabilities | 10/49 | €93,761 | €89,374 | -€4,388 | -4.7% |
| Equity | 10/15 | €42,256 | €49,526 | +€7,270 | +17.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,256 | €48,526 | +€7,270 | +17.6% |
| Amounts payable | 17/49 | €51,505 | €39,848 | -€11,658 | -22.6% |
| Amounts payable after more than one year | 17 | €19,579 | €13,225 | -€6,355 | -32.5% |
| Financial debts | 170/4 | €19,579 | €13,225 | -€6,355 | -32.5% |
| Amounts payable within one year | 42/48 | €31,926 | €26,623 | -€5,303 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €5,523 | €6,355 | +€832 | +15.1% |
| Financial debts | 43 | - | €1,402 | +€1,402 | |
| Credit institutions | 430/8 | - | €1,402 | +€1,402 | |
| Trade debts | 44 | €4,608 | €1,574 | -€3,034 | -65.8% |
| Suppliers | 440/4 | €4,608 | €1,574 | -€3,034 | -65.8% |
| Taxes, remuneration and social security | 45 | €21,795 | €17,292 | -€4,503 | -20.7% |
| Taxes | 450/3 | €8,698 | €11,603 | +€2,905 | +33.4% |
| Remuneration and social security | 454/9 | €13,097 | €5,689 | -€7,408 | -56.6% |
| Remuneration, social security and pensions | 62 | €28,224 | - | -€28,224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,035 | €10,628 | +€592 | +5.9% |
| Other operating charges | 640/8 | €409 | - | -€409 | |
| Gross operating margin | 9900 | €68,069 | €23,111 | -€44,958 | -66.0% |
| Operating profit (loss) | 9901 | €29,401 | €12,483 | -€16,918 | -57.5% |
| Financial charges | 65/66B | €2,660 | €2,308 | -€352 | -13.2% |
| Recurring financial charges | 65 | €2,660 | €2,308 | -€352 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €26,741 | €10,175 | -€16,566 | -62.0% |
| Income taxes | 67/77 | €5,448 | €2,905 | -€2,543 | -46.7% |
| Profit (loss) for the period | 9904 | €21,294 | €7,270 | -€14,023 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,294 | €7,270 | -€14,023 | -65.9% |
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 21 October 2026 via checked.be.