GPS2: 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.
GPS2
Largest movements
- Receivables within one year +€64,097
up €64,097 (+175.9%), from €36,437 to €100,534
of which Trade receivables: +€61,981
- Current investments -€33,757
down €33,757 (-97.9%), from €34,474 to €716
- Tangible fixed assets -€17,103
down €17,103 (-1.2%), from €1.4m to €1.4m
of which Land and buildings: -€9,976
- Other debts +€417,445
up €417,445 (+84.9%), from €491,414 to €908,860
- Profit (loss) carried forward -€246,346
down €246,346 (-71.2%), from €345,919 to €99,573
- Trade debts -€162,108
down €162,108 (-65.3%), from €248,152 to €86,045
- Gross operating margin +€87,581
up €87,581 (+54.4%), from €160,960 to €248,541
- Depreciation +€25,395
up €25,395 (+45.3%), from €56,049 to €81,443
- Financial charges +€18,619
up €18,619 (+389.7%), from €4,778 to €23,397
- Taxes +€10,077
up €10,077 (+129.1%), from €7,807 to €17,884
- Other operating charges +€2,495
up €2,495 (+3.6%), from €69,586 to €72,080
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 | €1,446,707 | €1,459,382 | +€12,675 | +0.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,373,211 | €1,356,108 | -€17,103 | -1.2% |
| Tangible fixed assets | 22/27 | €1,373,211 | €1,356,108 | -€17,103 | -1.2% |
| Land and buildings | 22 | €1,259,944 | €1,249,968 | -€9,976 | -0.8% |
| Plant, machinery and equipment | 23 | €113,267 | €106,141 | -€7,127 | -6.3% |
| Current assets | 29/58 | €73,496 | €103,274 | +€29,777 | +40.5% |
| Amounts receivable within one year | 40/41 | €36,437 | €100,534 | +€64,097 | +175.9% |
| Trade receivables | 40 | €29,244 | €91,225 | +€61,981 | +211.9% |
| Other amounts receivable | 41 | €7,193 | €9,309 | +€2,116 | +29.4% |
| Current investments | 50/53 | €34,474 | €716 | -€33,757 | -97.9% |
| Cash at bank and in hand | 54/58 | €48 | €48 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €2,537 | €1,975 | -€562 | -22.2% |
| Total equity and liabilities | 10/49 | €1,446,707 | €1,459,382 | +€12,675 | +0.9% |
| Equity | 10/15 | €695,363 | €448,611 | -€246,752 | -35.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €249,444 | €249,038 | -€406 | -0.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,757 | €14,351 | -€406 | -2.8% |
| Distributable reserves | 133 | €224,687 | €224,687 | = | 0.0% |
| Profit (loss) carried forward | 14 | €345,919 | €99,573 | -€246,346 | -71.2% |
| Provisions and deferred taxes | 16 | €837 | €628 | -€209 | -25.0% |
| Deferred taxes | 168 | €837 | €628 | -€209 | -25.0% |
| Amounts payable | 17/49 | €750,507 | €1,010,144 | +€259,636 | +34.6% |
| Amounts payable after more than one year | 17 | €3,375 | - | -€3,375 | |
| Other amounts payable | 178/9 | €3,375 | - | -€3,375 | |
| Amounts payable within one year | 42/48 | €739,893 | €994,904 | +€255,011 | +34.5% |
| Trade debts | 44 | €248,152 | €86,045 | -€162,108 | -65.3% |
| Suppliers | 440/4 | €248,152 | €86,045 | -€162,108 | -65.3% |
| Taxes, remuneration and social security | 45 | €326 | - | -€326 | |
| Taxes | 450/3 | €326 | - | -€326 | |
| Other amounts payable | 47/48 | €491,414 | €908,860 | +€417,445 | +84.9% |
| Accrued charges and deferred income | 492/3 | €7,239 | €15,239 | +€8,000 | +110.5% |
| Non-recurring operating income | 76A | €3,701 | €17,536 | +€13,835 | +373.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,049 | €81,443 | +€25,395 | +45.3% |
| Other operating charges | 640/8 | €69,586 | €72,080 | +€2,495 | +3.6% |
| Non-recurring operating charges | 66A | - | €697 | +€697 | |
| Gross operating margin | 9900 | €160,960 | €248,541 | +€87,581 | +54.4% |
| Operating profit (loss) | 9901 | €35,326 | €94,320 | +€58,994 | +167.0% |
| Financial income | 75/76B | €65 | - | -€65 | |
| Recurring financial income | 75 | €65 | - | -€65 | |
| Financial charges | 65/66B | €4,778 | €23,397 | +€18,619 | +389.7% |
| Recurring financial charges | 65 | €4,778 | €23,397 | +€18,619 | +389.7% |
| Profit (loss) for the period before taxes | 9903 | €30,613 | €70,923 | +€40,311 | +131.7% |
| Transfer from deferred taxes | 780 | €209 | €209 | = | 0.0% |
| Income taxes | 67/77 | €7,807 | €17,884 | +€10,077 | +129.1% |
| Profit (loss) for the period | 9904 | €23,015 | €53,248 | +€30,233 | +131.4% |
| Transfer from tax-exempt reserves | 789 | €406 | €406 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,421 | €53,654 | +€30,233 | +129.1% |
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 9 October 2026 via checked.be.