GPP: 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.
GPP
Largest movements
- Stocks and contracts +€68,906
up €68,906 (+1322.7%), from €5,209 to €74,115
- Cash +€40,375
up €40,375 (+1234.5%), from €3,271 to €43,645
mainly Other debts (+€354,713) and Depreciation (+€61,294)
- Tangible fixed assets -€35,190
down €35,190 (-5.8%), from €608,308 to €573,118
of which Land and buildings: -€41,086
- Current investments -€32,504
no longer reported in 2025 (was €32,504)
- Receivables within one year +€13,373
up €13,373 (+94.1%), from €14,211 to €27,585
of which Trade receivables: +€8,095
- Other debts +€354,713
up €354,713 (+6367.1%), from €5,571 to €360,284
- Debts after one year -€246,572
down €246,572 (-46.3%), from €532,250 to €285,678
of which Financial debts: -€246,572
- Current portion of long-term debt -€51,602
down €51,602 (-94.8%), from €54,437 to €2,835
- Gross operating margin +€9,744
up €9,744 (+14.4%), from €67,714 to €77,457
- Financial charges +€6,208
up €6,208 (+92.8%), from €6,691 to €12,898
- Depreciation +€2,851
up €2,851 (+4.9%), from €58,442 to €61,294
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 | €670,211 | €722,017 | +€51,806 | +7.7% |
| Fixed assets | 21/28 | €608,308 | €573,118 | -€35,190 | -5.8% |
| Tangible fixed assets | 22/27 | €608,308 | €573,118 | -€35,190 | -5.8% |
| Land and buildings | 22 | €553,845 | €512,759 | -€41,086 | -7.4% |
| Plant, machinery and equipment | 23 | €43,696 | €52,092 | +€8,396 | +19.2% |
| Furniture and vehicles | 24 | €10,768 | €8,268 | -€2,500 | -23.2% |
| Current assets | 29/58 | €61,903 | €148,899 | +€86,996 | +140.5% |
| Stocks and contracts in progress | 3 | €5,209 | €74,115 | +€68,906 | +1322.7% |
| Stocks | 30/36 | €5,209 | €74,115 | +€68,906 | +1322.7% |
| Amounts receivable within one year | 40/41 | €14,211 | €27,585 | +€13,373 | +94.1% |
| Trade receivables | 40 | €13,170 | €21,265 | +€8,095 | +61.5% |
| Other amounts receivable | 41 | €1,041 | €6,320 | +€5,279 | +506.9% |
| Current investments | 50/53 | €32,504 | - | -€32,504 | |
| Cash at bank and in hand | 54/58 | €3,271 | €43,645 | +€40,375 | +1234.5% |
| Deferred charges and accrued income | 490/1 | €6,708 | €3,554 | -€3,154 | -47.0% |
| Total equity and liabilities | 10/49 | €670,211 | €722,017 | +€51,806 | +7.7% |
| Equity | 10/15 | €69,417 | €71,213 | +€1,795 | +2.6% |
| Contributions | 10/11 | €156,200 | €156,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,783 | -€84,988 | +€1,795 | +2.1% |
| Amounts payable | 17/49 | €600,794 | €650,805 | +€50,011 | +8.3% |
| Amounts payable after more than one year | 17 | €532,250 | €285,678 | -€246,572 | -46.3% |
| Financial debts | 170/4 | €248,250 | €1,678 | -€246,572 | -99.3% |
| Other amounts payable | 178/9 | €284,000 | €284,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €68,544 | €365,127 | +€296,583 | +432.7% |
| Current portion of amounts payable after more than one year | 42 | €54,437 | €2,835 | -€51,602 | -94.8% |
| Trade debts | 44 | €2,480 | €369 | -€2,111 | -85.1% |
| Suppliers | 440/4 | €2,480 | €369 | -€2,111 | -85.1% |
| Taxes, remuneration and social security | 45 | €6,056 | €1,639 | -€4,417 | -72.9% |
| Taxes | 450/3 | €6,056 | €1,639 | -€4,417 | -72.9% |
| Other amounts payable | 47/48 | €5,571 | €360,284 | +€354,713 | +6367.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,442 | €61,294 | +€2,851 | +4.9% |
| Other operating charges | 640/8 | €1,456 | €1,480 | +€24 | +1.7% |
| Gross operating margin | 9900 | €67,714 | €77,457 | +€9,744 | +14.4% |
| Operating profit (loss) | 9901 | €7,816 | €14,684 | +€6,868 | +87.9% |
| Financial income | 75/76B | €0 | €10 | +€10 | +32666.7% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +32666.7% |
| Financial charges | 65/66B | €6,691 | €12,898 | +€6,208 | +92.8% |
| Recurring financial charges | 65 | €6,691 | €12,898 | +€6,208 | +92.8% |
| Profit (loss) for the period before taxes | 9903 | €1,125 | €1,795 | +€670 | +59.6% |
| Profit (loss) for the period | 9904 | €1,125 | €1,795 | +€670 | +59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,125 | €1,795 | +€670 | +59.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.