GPL MANAGEMENT: 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.
GPL MANAGEMENT
Largest movements
- Cash +€48,554
up €48,554 (+59.0%), from €82,310 to €130,864
mainly Net result for the year (+€82,203) and Depreciation (+€38,378)
- Tangible fixed assets -€38,378
down €38,378 (-4.0%), from €959,448 to €921,070
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€29,995
down €29,995 (-14.2%), from €211,825 to €181,830
- Depreciation -€5,405
down €5,405 (-12.3%), from €43,783 to €38,378
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 | €1,046,670 | €1,056,749 | +€10,079 | +1.0% |
| Fixed assets | 21/28 | €959,448 | €921,070 | -€38,378 | -4.0% |
| Tangible fixed assets | 22/27 | €959,448 | €921,070 | -€38,378 | -4.0% |
| Land and buildings | 22 | €959,448 | €921,070 | -€38,378 | -4.0% |
| Current assets | 29/58 | €87,222 | €135,679 | +€48,457 | +55.6% |
| Amounts receivable within one year | 40/41 | €159 | €4 | -€155 | -97.3% |
| Trade receivables | 40 | €80 | €0 | -€80 | -100% |
| Other amounts receivable | 41 | €79 | €4 | -€75 | -94.7% |
| Cash at bank and in hand | 54/58 | €82,310 | €130,864 | +€48,554 | +59.0% |
| Deferred charges and accrued income | 490/1 | €4,753 | €4,810 | +€58 | +1.2% |
| Total equity and liabilities | 10/49 | €1,046,670 | €1,056,749 | +€10,079 | +1.0% |
| Equity | 10/15 | €345,798 | €358,001 | +€12,203 | +3.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €180,000 | €190,000 | +€10,000 | +5.6% |
| Distributable reserves | 133 | €180,000 | €190,000 | +€10,000 | +5.6% |
| Profit (loss) carried forward | 14 | €140,798 | €143,001 | +€2,203 | +1.6% |
| Amounts payable | 17/49 | €700,872 | €698,749 | -€2,124 | -0.3% |
| Amounts payable after more than one year | 17 | €537,218 | €527,095 | -€10,123 | -1.9% |
| Financial debts | 170/4 | €537,218 | €460,578 | -€76,641 | -14.3% |
| Other amounts payable | 178/9 | - | €66,518 | +€66,518 | |
| Amounts payable within one year | 42/48 | €156,567 | €164,570 | +€8,003 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €74,641 | €76,641 | +€2,000 | +2.7% |
| Financial debts | 43 | - | €7,583 | +€7,583 | |
| Other loans | 439 | - | €7,583 | +€7,583 | |
| Trade debts | 44 | €2,041 | €2,384 | +€343 | +16.8% |
| Suppliers | 440/4 | €2,041 | €2,384 | +€343 | +16.8% |
| Taxes, remuneration and social security | 45 | €29,460 | €28,614 | -€846 | -2.9% |
| Taxes | 450/3 | €26,960 | €28,614 | +€1,654 | +6.1% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts payable | 47/48 | €50,425 | €49,349 | -€1,076 | -2.1% |
| Accrued charges and deferred income | 492/3 | €7,088 | €7,084 | -€4 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,783 | €38,378 | -€5,405 | -12.3% |
| Other operating charges | 640/8 | €8,696 | €8,971 | +€275 | +3.2% |
| Gross operating margin | 9900 | €211,825 | €181,830 | -€29,995 | -14.2% |
| Operating profit (loss) | 9901 | €159,346 | €134,481 | -€24,865 | -15.6% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100% |
| Financial charges | 65/66B | €16,129 | €14,238 | -€1,891 | -11.7% |
| Recurring financial charges | 65 | €16,129 | €14,238 | -€1,891 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €143,222 | €120,243 | -€22,979 | -16.0% |
| Income taxes | 67/77 | €36,596 | €38,040 | +€1,444 | +3.9% |
| Profit (loss) for the period | 9904 | €106,626 | €82,203 | -€24,424 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €106,626 | €82,203 | -€24,424 | -22.9% |
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 23 October 2026 via checked.be.