GPCT: 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.
GPCT
Largest movements
- Tangible fixed assets +€2.5m
up €2.5m (+27.0%), from €9.5m to €12.0m
of which Land and buildings: +€2.5m
- Financial fixed assets -€1.0m
down €1.0m (-22.8%), from €4.5m to €3.5m
- Receivables within one year +€218,703
up €218,703 (+80.9%), from €270,251 to €488,954
of which Other amounts receivable: +€111,248
- Debts after one year +€2.8m
up €2.8m (+24.3%), from €11.6m to €14.4m
of which Other amounts payable: +€1.9m
- Profit (loss) carried forward -€1.3m
down €1.3m (-105.2%), from -€1.3m to -€2.6m
- Trade debts +€180,242
up €180,242 (+1945.3%), from €9,266 to €189,507
- Financial charges +€581,222
up €581,222 (+184.8%), from €314,458 to €895,681
of which Non-recurring financial charges: +€755,785
- Gross operating margin -€265,301
down €265,301, from €196,371 to -€68,930
- Depreciation -€202,096
down €202,096 (-48.7%), from €414,770 to €212,674
- Other operating charges +€158,676
up €158,676 (+905.0%), from €17,533 to €176,209
- Financial income +€60,612
up €60,612 (+36.9%), from €164,320 to €224,932
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 | €14,458,570 | €16,077,768 | +€1.6m | +11.2% |
| Fixed assets | 21/28 | €13,997,531 | €15,509,315 | +€1.5m | +10.8% |
| Intangible fixed assets | 21 | €705 | €585 | -€120 | -17.0% |
| Tangible fixed assets | 22/27 | €9,455,441 | €12,004,131 | +€2.5m | +27.0% |
| Land and buildings | 22 | €8,530,879 | €11,050,322 | +€2.5m | +29.5% |
| Plant, machinery and equipment | 23 | €63,599 | €56,701 | -€6,898 | -10.8% |
| Furniture and vehicles | 24 | €148,100 | €193,226 | +€45,125 | +30.5% |
| Other tangible fixed assets | 26 | €51,002 | €42,021 | -€8,981 | -17.6% |
| Assets under construction and advance payments | 27 | €661,860 | €661,860 | = | 0.0% |
| Financial fixed assets | 28 | €4,541,385 | €3,504,600 | -€1.0m | -22.8% |
| Current assets | 29/58 | €461,039 | €568,453 | +€107,414 | +23.3% |
| Amounts receivable within one year | 40/41 | €270,251 | €488,954 | +€218,703 | +80.9% |
| Trade receivables | 40 | €145,031 | €252,485 | +€107,454 | +74.1% |
| Other amounts receivable | 41 | €125,220 | €236,469 | +€111,248 | +88.8% |
| Cash at bank and in hand | 54/58 | €138,105 | €74,047 | -€64,059 | -46.4% |
| Deferred charges and accrued income | 490/1 | €52,683 | €5,453 | -€47,231 | -89.7% |
| Total equity and liabilities | 10/49 | €14,458,570 | €16,077,768 | +€1.6m | +11.2% |
| Equity | 10/15 | €2,529,676 | €1,184,652 | -€1.3m | -53.2% |
| Contributions | 10/11 | €3,800,000 | €3,800,000 | = | 0.0% |
| Reserves | 13 | €8,110 | €8,110 | = | 0.0% |
| Distributable reserves | 133 | €8,110 | €8,110 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,278,434 | -€2,623,458 | -€1.3m | -105.2% |
| Amounts payable | 17/49 | €11,928,895 | €14,893,116 | +€3.0m | +24.8% |
| Amounts payable after more than one year | 17 | €11,599,059 | €14,423,333 | +€2.8m | +24.3% |
| Financial debts | 170/4 | €3,710,353 | €4,623,970 | +€913,617 | +24.6% |
| Other amounts payable | 178/9 | €7,888,705 | €9,799,363 | +€1.9m | +24.2% |
| Amounts payable within one year | 42/48 | €314,570 | €458,458 | +€143,889 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €236,936 | €147,349 | -€89,587 | -37.8% |
| Financial debts | 43 | €6,779 | €23,930 | +€17,151 | +253.0% |
| Credit institutions | 430/8 | €6,779 | €23,930 | +€17,151 | +253.0% |
| Trade debts | 44 | €9,266 | €189,507 | +€180,242 | +1945.3% |
| Suppliers | 440/4 | €9,266 | €189,507 | +€180,242 | +1945.3% |
| Taxes, remuneration and social security | 45 | €31,547 | €54,392 | +€22,845 | +72.4% |
| Taxes | 450/3 | €13,562 | €33,726 | +€20,163 | +148.7% |
| Remuneration and social security | 454/9 | €17,984 | €20,666 | +€2,682 | +14.9% |
| Other amounts payable | 47/48 | €30,043 | €43,281 | +€13,238 | +44.1% |
| Accrued charges and deferred income | 492/3 | €15,267 | €11,325 | -€3,941 | -25.8% |
| Non-recurring operating income | 76A | €2,799 | €14 | -€2,785 | -99.5% |
| Remuneration, social security and pensions | 62 | €187,680 | €201,213 | +€13,533 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €414,770 | €212,674 | -€202,096 | -48.7% |
| Other operating charges | 640/8 | €17,533 | €176,209 | +€158,676 | +905.0% |
| Non-recurring operating charges | 66A | €153 | €14,877 | +€14,724 | +9592.7% |
| Gross operating margin | 9900 | €196,371 | -€68,930 | -€265,301 | |
| Operating profit (loss) | 9901 | -€423,766 | -€673,903 | -€250,137 | -59.0% |
| Financial income | 75/76B | €164,320 | €224,932 | +€60,612 | +36.9% |
| Recurring financial income | 75 | €164,320 | €224,932 | +€60,612 | +36.9% |
| Financial charges | 65/66B | €314,458 | €895,681 | +€581,222 | +184.8% |
| Recurring financial charges | 65 | €314,458 | €139,896 | -€174,563 | -55.5% |
| Non-recurring financial charges | 66B | - | €755,785 | +€755,785 | |
| Profit (loss) for the period before taxes | 9903 | -€573,904 | -€1,344,652 | -€770,747 | -134.3% |
| Income taxes | 67/77 | €343 | €371 | +€28 | +8.2% |
| Profit (loss) for the period | 9904 | -€574,247 | -€1,345,023 | -€770,776 | -134.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€574,247 | -€1,345,023 | -€770,776 | -134.2% |
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 29 September 2026 via checked.be.