GORY DISTRIBUTION: 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.
GORY DISTRIBUTION
Largest movements
- Cash -€24,002
down €24,002 (-88.2%), from €27,220 to €3,218
mainly Net result for the year (-€122,313) and Trade debts (-€42,557)
- Receivables within one year +€3,710
up €3,710 (+3.2%), from €115,503 to €119,214
of which Other amounts receivable: +€27,095
- Deferred charges and accrued income +€2,110
new in 2025: €2,110
- Profit (loss) carried forward -€122,313
down €122,313 (-361%), from -€33,886 to -€156,199
- Tax, wage and social debts +€121,518
up €121,518 (+1,616%), from €7,520 to €129,037
of which Taxes: +€120,409
- Trade debts -€42,557
down €42,557 (-65.9%), from €64,561 to €22,005
- Other debts +€25,171
up €25,171 (+29.7%), from €84,859 to €110,030
- Taxes +€122,371
new in 2025: €122,371
- Staff costs +€15,546
up €15,546 (+25.5%), from €60,900 to €76,446
- Gross operating margin -€6,848
down €6,848 (-8.1%), from €84,459 to €77,610
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 | €142,904 | €124,722 | -€18,182 | -12.7% |
| Fixed assets | 21/28 | €180 | €180 | = | 0.0% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €142,724 | €124,542 | -€18,182 | -12.7% |
| Amounts receivable within one year | 40/41 | €115,503 | €119,214 | +€3,710 | +3.2% |
| Trade receivables | 40 | €115,399 | €92,014 | -€23,385 | -20.3% |
| Other amounts receivable | 41 | €104 | €27,200 | +€27,095 | +25,973% |
| Cash at bank and in hand | 54/58 | €27,220 | €3,218 | -€24,002 | -88.2% |
| Deferred charges and accrued income | 490/1 | - | €2,110 | +€2,110 | |
| Total equity and liabilities | 10/49 | €142,904 | €124,722 | -€18,182 | -12.7% |
| Equity | 10/15 | -€14,036 | -€136,349 | -€122,313 | -871% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,250 | €1,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | €1,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,886 | -€156,199 | -€122,313 | -361% |
| Amounts payable | 17/49 | €156,940 | €261,071 | +€104,131 | +66.4% |
| Amounts payable within one year | 42/48 | €156,940 | €261,071 | +€104,131 | +66.4% |
| Trade debts | 44 | €64,561 | €22,005 | -€42,557 | -65.9% |
| Suppliers | 440/4 | €64,561 | €22,005 | -€42,557 | -65.9% |
| Taxes, remuneration and social security | 45 | €7,520 | €129,037 | +€121,518 | +1,616% |
| Taxes | 450/3 | €1,838 | €122,247 | +€120,409 | +6,552% |
| Remuneration and social security | 454/9 | €5,682 | €6,790 | +€1,108 | +19.5% |
| Other amounts payable | 47/48 | €84,859 | €110,030 | +€25,171 | +29.7% |
| Remuneration, social security and pensions | 62 | €60,900 | €76,446 | +€15,546 | +25.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €837 | €835 | -€3 | -0.3% |
| Gross operating margin | 9900 | €84,459 | €77,610 | -€6,848 | -8.1% |
| Operating profit (loss) | 9901 | €22,721 | €330 | -€22,391 | -98.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €270 | €272 | +€2 | +0.9% |
| Recurring financial charges | 65 | €270 | €272 | +€2 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €22,451 | €58 | -€22,394 | -99.7% |
| Income taxes | 67/77 | - | €122,371 | +€122,371 | |
| Profit (loss) for the period | 9904 | €22,451 | -€122,313 | -€144,764 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,451 | -€122,313 | -€144,764 |
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.