GP-INVEST: 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.
GP-INVEST
Largest movements
- Receivables within one year -€24,843
down €24,843 (-37.5%), from €66,179 to €41,336
of which Trade receivables: -€30,199
- Tangible fixed assets -€14,724
down €14,724 (-13.0%), from €113,080 to €98,356
of which Land and buildings: -€13,650
- Profit (loss) carried forward -€25,517
down €25,517 (-80.7%), from €31,629 to €6,112
- Tax, wage and social debts -€10,684
down €10,684 (-82.8%), from €12,901 to €2,217
- Trade debts -€7,544
down €7,544 (-68.1%), from €11,084 to €3,540
- Short-term financial debts +€7,146
new in 2025: €7,146
- Debts after one year -€2,341
down €2,341 (-18.6%), from €12,574 to €10,233
- Gross operating margin -€29,805
down €29,805, from €22,394 to -€7,412
- Financial charges +€2,507
up €2,507 (+196%), from €1,276 to €3,783
- Depreciation -€2,117
down €2,117 (-12.6%), from €16,841 to €14,724
- Other operating charges -€1,586
down €1,586 (-46.0%), from €3,452 to €1,865
- Taxes -€1,103
down €1,103 (-90.1%), from €1,225 to €121
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 | €182,582 | €142,092 | -€40,491 | -22.2% |
| Fixed assets | 21/28 | €113,080 | €98,356 | -€14,724 | -13.0% |
| Tangible fixed assets | 22/27 | €113,080 | €98,356 | -€14,724 | -13.0% |
| Land and buildings | 22 | €111,329 | €97,679 | -€13,650 | -12.3% |
| Plant, machinery and equipment | 23 | €466 | €39 | -€427 | -91.7% |
| Furniture and vehicles | 24 | €1,285 | €638 | -€647 | -50.3% |
| Current assets | 29/58 | €69,503 | €43,736 | -€25,767 | -37.1% |
| Amounts receivable within one year | 40/41 | €66,179 | €41,336 | -€24,843 | -37.5% |
| Trade receivables | 40 | €31,905 | €1,706 | -€30,199 | -94.7% |
| Other amounts receivable | 41 | €34,273 | €39,630 | +€5,356 | +15.6% |
| Cash at bank and in hand | 54/58 | €485 | - | -€485 | |
| Deferred charges and accrued income | 490/1 | €2,839 | €2,400 | -€439 | -15.5% |
| Total equity and liabilities | 10/49 | €182,582 | €142,092 | -€40,491 | -22.2% |
| Equity | 10/15 | €141,946 | €116,429 | -€25,517 | -18.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,717 | €91,717 | = | 0.0% |
| Distributable reserves | 133 | €91,717 | €91,717 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,629 | €6,112 | -€25,517 | -80.7% |
| Amounts payable | 17/49 | €40,636 | €25,663 | -€14,974 | -36.8% |
| Amounts payable after more than one year | 17 | €12,574 | €10,233 | -€2,341 | -18.6% |
| Financial debts | 170/4 | €12,574 | €10,233 | -€2,341 | -18.6% |
| Amounts payable within one year | 42/48 | €28,063 | €15,244 | -€12,819 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €4,078 | €2,341 | -€1,737 | -42.6% |
| Financial debts | 43 | - | €7,146 | +€7,146 | |
| Credit institutions | 430/8 | - | €7,146 | +€7,146 | |
| Trade debts | 44 | €11,084 | €3,540 | -€7,544 | -68.1% |
| Suppliers | 440/4 | €11,084 | €3,540 | -€7,544 | -68.1% |
| Taxes, remuneration and social security | 45 | €12,901 | €2,217 | -€10,684 | -82.8% |
| Taxes | 450/3 | €12,901 | €2,217 | -€10,684 | -82.8% |
| Accrued charges and deferred income | 492/3 | - | €186 | +€186 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,841 | €14,724 | -€2,117 | -12.6% |
| Other operating charges | 640/8 | €3,452 | €1,865 | -€1,586 | -46.0% |
| Gross operating margin | 9900 | €22,394 | -€7,412 | -€29,805 | |
| Operating profit (loss) | 9901 | €2,101 | -€24,001 | -€26,102 | |
| Financial income | 75/76B | €2,008 | €2,388 | +€381 | +19.0% |
| Recurring financial income | 75 | €2,008 | €2,388 | +€381 | +19.0% |
| Financial charges | 65/66B | €1,276 | €3,783 | +€2,507 | +196% |
| Recurring financial charges | 65 | €1,276 | €3,783 | +€2,507 | +196% |
| Profit (loss) for the period before taxes | 9903 | €2,832 | -€25,396 | -€28,228 | |
| Income taxes | 67/77 | €1,225 | €121 | -€1,103 | -90.1% |
| Profit (loss) for the period | 9904 | €1,608 | -€25,517 | -€27,125 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,608 | -€25,517 | -€27,125 |
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 29 October 2026 via checked.be.