Gproject: what changed
Gproject
Largest movements
- Receivables within one year -€63,146
down €63,146 (-58.2%), from €108,530 to €45,384
of which Trade receivables: -€63,110
- Cash +€19,366
up €19,366 (+73.3%), from €26,421 to €45,787
mainly Receivables within one year (+€63,146) and Depreciation (+€14,736)
- Tangible fixed assets -€13,324
down €13,324 (-3.9%), from €340,301 to €326,978
of which Land and buildings: -€11,212
- Profit (loss) carried forward -€26,288
new in 2025: -€26,288
- Tax, wage and social debts -€17,628
down €17,628 (-40.5%), from €43,479 to €25,851
- Debts after one year -€14,757
down €14,757 (-5.9%), from €251,970 to €237,213
of which Financial debts: -€14,757
- Gross operating margin -€64,916
down €64,916 (-91.4%), from €71,014 to €6,097
- Taxes -€11,187
down €11,187 (-98.7%), from €11,334 to €147
- Financial charges -€1,763
down €1,763 (-9.9%), from €17,820 to €16,057
- Financial income -€954
down €954 (-69.6%), from €1,371 to €418
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €476,850 | €419,652 | -€57,198 | -12.0% |
| Fixed assets | 21/28 | €340,301 | €326,978 | -€13,324 | -3.9% |
| Tangible fixed assets | 22/27 | €340,301 | €326,978 | -€13,324 | -3.9% |
| Land and buildings | 22 | €329,030 | €317,818 | -€11,212 | -3.4% |
| Plant, machinery and equipment | 23 | €507 | €320 | -€186 | -36.8% |
| Furniture and vehicles | 24 | €10,765 | €8,839 | -€1,925 | -17.9% |
| Current assets | 29/58 | €136,548 | €92,674 | -€43,874 | -32.1% |
| Amounts receivable within one year | 40/41 | €108,530 | €45,384 | -€63,146 | -58.2% |
| Trade receivables | 40 | €108,389 | €45,279 | -€63,110 | -58.2% |
| Other amounts receivable | 41 | €141 | €105 | -€36 | -25.3% |
| Cash at bank and in hand | 54/58 | €26,421 | €45,787 | +€19,366 | +73.3% |
| Deferred charges and accrued income | 490/1 | €1,598 | €1,503 | -€95 | -5.9% |
| Total equity and liabilities | 10/49 | €476,850 | €419,652 | -€57,198 | -12.0% |
| Equity | 10/15 | €100,078 | €73,790 | -€26,288 | -26.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,878 | €93,878 | = | 0.0% |
| Distributable reserves | 133 | €93,878 | €93,878 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€26,288 | -€26,288 | |
| Amounts payable | 17/49 | €376,772 | €345,862 | -€30,910 | -8.2% |
| Amounts payable after more than one year | 17 | €251,970 | €237,213 | -€14,757 | -5.9% |
| Financial debts | 170/4 | €251,270 | €236,513 | -€14,757 | -5.9% |
| Other amounts payable | 178/9 | €700 | €700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €121,897 | €106,065 | -€15,832 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €14,120 | €14,757 | +€637 | +4.5% |
| Trade debts | 44 | €12,255 | €11,005 | -€1,249 | -10.2% |
| Suppliers | 440/4 | €12,255 | €11,005 | -€1,249 | -10.2% |
| Taxes, remuneration and social security | 45 | €43,479 | €25,851 | -€17,628 | -40.5% |
| Taxes | 450/3 | €43,479 | €25,851 | -€17,628 | -40.5% |
| Other amounts payable | 47/48 | €52,043 | €54,452 | +€2,409 | +4.6% |
| Accrued charges and deferred income | 492/3 | €2,905 | €2,584 | -€322 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,349 | €14,736 | +€387 | +2.7% |
| Other operating charges | 640/8 | €1,157 | €1,863 | +€706 | +61.0% |
| Gross operating margin | 9900 | €71,014 | €6,097 | -€64,916 | -91.4% |
| Operating profit (loss) | 9901 | €55,507 | -€10,502 | -€66,009 | |
| Financial income | 75/76B | €1,371 | €418 | -€954 | -69.6% |
| Recurring financial income | 75 | €1,371 | €418 | -€954 | -69.6% |
| Financial charges | 65/66B | €17,820 | €16,057 | -€1,763 | -9.9% |
| Recurring financial charges | 65 | €17,820 | €16,057 | -€1,763 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €39,058 | -€26,141 | -€65,200 | |
| Income taxes | 67/77 | €11,334 | €147 | -€11,187 | -98.7% |
| Profit (loss) for the period | 9904 | €27,725 | -€26,288 | -€54,013 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,725 | -€26,288 | -€54,013 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.