GPC: what changed
Two fiscal 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.
GPC
Largest movements
- Receivables within one year +€88,046
up €88,046 (+498.8%), from €17,652 to €105,698
of which Trade receivables: +€59,374
- Tangible fixed assets +€57,926
up €57,926 (+18.4%), from €314,566 to €372,491
of which Land and buildings: +€57,836
- Cash -€21,140
down €21,140 (-41.7%), from €50,711 to €29,571
mainly Receivables within one year (-€88,046) and Investment in fixed assets (net) (-€70,636)
- Profit (loss) carried forward +€46,040
up €46,040 (+115.7%), from €39,776 to €85,816
- Trade debts +€42,297
up €42,297 (+344.6%), from €12,276 to €54,573
- Debts after one year +€32,168
up €32,168 (+10.6%), from €303,225 to €335,393
- Depreciation -€38,579
down €38,579 (-75.2%), from €51,290 to €12,711
- Gross operating margin -€15,075
down €15,075 (-14.5%), from €104,239 to €89,164
- Financial charges +€12,543
up €12,543 (+708.2%), from €1,771 to €14,314
- Other operating charges +€3,606
up €3,606 (+584.2%), from €617 to €4,224
- Taxes +€1,787
up €1,787 (+15.1%), from €11,823 to €13,610
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.
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 | €391,680 | €515,052 | +€123,372 | +31.5% |
| Fixed assets | 21/28 | €314,566 | €372,491 | +€57,926 | +18.4% |
| Tangible fixed assets | 22/27 | €314,566 | €372,491 | +€57,926 | +18.4% |
| Land and buildings | 22 | €305,654 | €363,490 | +€57,836 | +18.9% |
| Plant, machinery and equipment | 23 | €3,127 | €4,111 | +€984 | +31.5% |
| Furniture and vehicles | 24 | €5,785 | €4,890 | -€895 | -15.5% |
| Current assets | 29/58 | €77,114 | €142,560 | +€65,446 | +84.9% |
| Amounts receivable within one year | 40/41 | €17,652 | €105,698 | +€88,046 | +498.8% |
| Trade receivables | 40 | - | €59,374 | +€59,374 | |
| Other amounts receivable | 41 | €17,652 | €46,324 | +€28,672 | +162.4% |
| Cash at bank and in hand | 54/58 | €50,711 | €29,571 | -€21,140 | -41.7% |
| Deferred charges and accrued income | 490/1 | €8,750 | €7,291 | -€1,459 | -16.7% |
| Total equity and liabilities | 10/49 | €391,680 | €515,052 | +€123,372 | +31.5% |
| Equity | 10/15 | €44,776 | €90,816 | +€46,040 | +102.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,776 | €85,816 | +€46,040 | +115.7% |
| Amounts payable | 17/49 | €346,904 | €424,236 | +€77,332 | +22.3% |
| Amounts payable after more than one year | 17 | €303,225 | €335,393 | +€32,168 | +10.6% |
| Financial debts | 170/4 | €303,225 | €335,393 | +€32,168 | +10.6% |
| Amounts payable within one year | 42/48 | €39,960 | €85,428 | +€45,468 | +113.8% |
| Trade debts | 44 | €12,276 | €54,573 | +€42,297 | +344.6% |
| Suppliers | 440/4 | €12,276 | €54,573 | +€42,297 | +344.6% |
| Taxes, remuneration and social security | 45 | €27,684 | €30,854 | +€3,171 | +11.5% |
| Taxes | 450/3 | €27,684 | €27,408 | -€276 | -1.0% |
| Remuneration and social security | 454/9 | - | €3,446 | +€3,446 | |
| Accrued charges and deferred income | 492/3 | €3,719 | €3,414 | -€304 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,290 | €12,711 | -€38,579 | -75.2% |
| Other operating charges | 640/8 | €617 | €4,224 | +€3,606 | +584.2% |
| Gross operating margin | 9900 | €104,239 | €89,164 | -€15,075 | -14.5% |
| Operating profit (loss) | 9901 | €52,332 | €72,230 | +€19,898 | +38.0% |
| Financial income | 75/76B | €1,038 | €1,734 | +€696 | +67.0% |
| Recurring financial income | 75 | €1,038 | €1,734 | +€696 | +67.0% |
| Financial charges | 65/66B | €1,771 | €14,314 | +€12,543 | +708.2% |
| Recurring financial charges | 65 | €1,771 | €14,314 | +€12,543 | +708.2% |
| Profit (loss) for the period before taxes | 9903 | €51,599 | €59,650 | +€8,051 | +15.6% |
| Income taxes | 67/77 | €11,823 | €13,610 | +€1,787 | +15.1% |
| Profit (loss) for the period | 9904 | €39,776 | €46,040 | +€6,264 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,776 | €46,040 | +€6,264 | +15.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.