GP&S: 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&S
Largest movements
- Receivables within one year +€42,056
up €42,056 (+197%), from €21,392 to €63,448
- Cash -€37,279
down €37,279 (-87.3%), from €42,719 to €5,440
mainly Receivables within one year (-€42,056) and Current investments (-€14,066)
- Current investments +€14,066
up €14,066 (+101%), from €13,927 to €27,993
- Receivables after one year +€12,500
new in 2025: €12,500
- Deferred charges and accrued income +€1,699
new in 2025: €1,699
- Tax, wage and social debts +€10,939
up €10,939 (+32.1%), from €34,129 to €45,069
- Reserves +€9,994
up €9,994 (+27.7%), from €36,054 to €46,047
- Short-term financial debts +€8,781
new in 2025: €8,781
- Trade debts +€2,762
up €2,762 (+51.5%), from €5,367 to €8,128
- Gross operating margin -€56,479
down €56,479 (-98.2%), from €57,529 to €1,049
- Financial income +€15,251
up €15,251 (+2,433%), from €627 to €15,878
- Taxes -€15,064
down €15,064 (-74.7%), from €20,167 to €5,103
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 | €80,550 | €113,026 | +€32,476 | +40.3% |
| Fixed assets | 21/28 | €2,512 | €1,946 | -€566 | -22.5% |
| Tangible fixed assets | 22/27 | €2,512 | €1,946 | -€566 | -22.5% |
| Plant, machinery and equipment | 23 | €2,512 | €1,946 | -€566 | -22.5% |
| Current assets | 29/58 | €78,038 | €111,079 | +€33,042 | +42.3% |
| Amounts receivable after more than one year | 29 | - | €12,500 | +€12,500 | |
| Other amounts receivable | 291 | - | €12,500 | +€12,500 | |
| Amounts receivable within one year | 40/41 | €21,392 | €63,448 | +€42,056 | +197% |
| Other amounts receivable | 41 | €21,392 | €63,448 | +€42,056 | +197% |
| Current investments | 50/53 | €13,927 | €27,993 | +€14,066 | +101% |
| Cash at bank and in hand | 54/58 | €42,719 | €5,440 | -€37,279 | -87.3% |
| Deferred charges and accrued income | 490/1 | - | €1,699 | +€1,699 | |
| Total equity and liabilities | 10/49 | €80,550 | €113,026 | +€32,476 | +40.3% |
| Equity | 10/15 | €41,054 | €51,047 | +€9,994 | +24.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,054 | €46,047 | +€9,994 | +27.7% |
| Distributable reserves | 133 | €36,054 | €46,047 | +€9,994 | +27.7% |
| Amounts payable | 17/49 | €39,496 | €61,978 | +€22,482 | +56.9% |
| Amounts payable within one year | 42/48 | €39,496 | €61,978 | +€22,482 | +56.9% |
| Financial debts | 43 | - | €8,781 | +€8,781 | |
| Credit institutions | 430/8 | - | €8,781 | +€8,781 | |
| Trade debts | 44 | €5,367 | €8,128 | +€2,762 | +51.5% |
| Suppliers | 440/4 | €5,367 | €8,128 | +€2,762 | +51.5% |
| Taxes, remuneration and social security | 45 | €34,129 | €45,069 | +€10,939 | +32.1% |
| Taxes | 450/3 | €34,129 | €45,069 | +€10,939 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €318 | €566 | +€248 | +78.1% |
| Other operating charges | 640/8 | €623 | €268 | -€355 | -56.9% |
| Gross operating margin | 9900 | €57,529 | €1,049 | -€56,479 | -98.2% |
| Operating profit (loss) | 9901 | €56,588 | €215 | -€56,373 | -99.6% |
| Financial income | 75/76B | €627 | €15,878 | +€15,251 | +2,433% |
| Recurring financial income | 75 | €627 | €15,878 | +€15,251 | +2,433% |
| Financial charges | 65/66B | €995 | €996 | +€2 | +0.2% |
| Recurring financial charges | 65 | €995 | €996 | +€2 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €56,220 | €15,096 | -€41,124 | -73.1% |
| Income taxes | 67/77 | €20,167 | €5,103 | -€15,064 | -74.7% |
| Profit (loss) for the period | 9904 | €36,054 | €9,994 | -€26,060 | -72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,054 | €9,994 | -€26,060 | -72.3% |
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 16 October 2026 via checked.be.