GPW EQUIPMENT: 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.
GPW EQUIPMENT
Largest movements
- Receivables within one year +€151,134
up €151,134 (+37.6%), from €402,243 to €553,377
of which Other amounts receivable: +€121,295
- Stocks and contracts +€85,450
up €85,450 (+25.1%), from €340,150 to €425,600
- Tangible fixed assets -€44,134
down €44,134 (-19.6%), from €225,200 to €181,066
of which Leasing and similar rights: -€27,726
- Cash -€15,203
down €15,203 (-16.6%), from €91,727 to €76,524
mainly Receivables within one year (-€151,134) and Stocks and contracts (-€85,450)
- Trade debts +€93,303
up €93,303 (+47.9%), from €194,598 to €287,901
- Profit (loss) carried forward +€59,022
up €59,022 (+33.8%), from €174,835 to €233,857
- Short-term financial debts +€50,000
up €50,000 (+25.1%), from €199,000 to €249,000
- Current portion of long-term debt -€40,118
down €40,118 (-19.2%), from €208,953 to €168,835
- Tax, wage and social debts +€21,403
up €21,403 (+410%), from €5,220 to €26,624
of which Taxes: +€14,653
- Gross operating margin +€57,318
up €57,318 (+81.3%), from €70,498 to €127,816
- Depreciation -€24,427
down €24,427 (-57.9%), from €42,164 to €17,737
- Taxes +€14,653
up €14,653 (+2,034%), from €720 to €15,374
- Financial charges -€10,285
down €10,285 (-24.9%), from €41,327 to €31,042
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 | €1,063,807 | €1,240,087 | +€176,280 | +16.6% |
| Fixed assets | 21/28 | €226,200 | €181,066 | -€45,134 | -20.0% |
| Tangible fixed assets | 22/27 | €225,200 | €181,066 | -€44,134 | -19.6% |
| Furniture and vehicles | 24 | €61,486 | €45,078 | -€16,408 | -26.7% |
| Leasing and similar rights | 25 | €163,714 | €135,987 | -€27,726 | -16.9% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €837,608 | €1,059,021 | +€221,414 | +26.4% |
| Stocks and contracts in progress | 3 | €340,150 | €425,600 | +€85,450 | +25.1% |
| Stocks | 30/36 | €340,150 | €425,600 | +€85,450 | +25.1% |
| Amounts receivable within one year | 40/41 | €402,243 | €553,377 | +€151,134 | +37.6% |
| Trade receivables | 40 | €370,137 | €399,977 | +€29,840 | +8.1% |
| Other amounts receivable | 41 | €32,105 | €153,400 | +€121,295 | +378% |
| Cash at bank and in hand | 54/58 | €91,727 | €76,524 | -€15,203 | -16.6% |
| Deferred charges and accrued income | 490/1 | €3,488 | €3,520 | +€32 | +0.9% |
| Total equity and liabilities | 10/49 | €1,063,807 | €1,240,087 | +€176,280 | +16.6% |
| Equity | 10/15 | €195,295 | €254,317 | +€59,022 | +30.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,835 | €233,857 | +€59,022 | +33.8% |
| Amounts payable | 17/49 | €868,513 | €985,770 | +€117,257 | +13.5% |
| Amounts payable after more than one year | 17 | €239,021 | €236,947 | -€2,074 | -0.9% |
| Financial debts | 170/4 | €239,021 | €236,947 | -€2,074 | -0.9% |
| Amounts payable within one year | 42/48 | €622,366 | €737,198 | +€114,832 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €208,953 | €168,835 | -€40,118 | -19.2% |
| Financial debts | 43 | €199,000 | €249,000 | +€50,000 | +25.1% |
| Credit institutions | 430/8 | €199,000 | €249,000 | +€50,000 | +25.1% |
| Trade debts | 44 | €194,598 | €287,901 | +€93,303 | +47.9% |
| Suppliers | 440/4 | €194,598 | €287,901 | +€93,303 | +47.9% |
| Taxes, remuneration and social security | 45 | €5,220 | €26,624 | +€21,403 | +410% |
| Taxes | 450/3 | €5,220 | €19,874 | +€14,653 | +281% |
| Remuneration and social security | 454/9 | - | €6,750 | +€6,750 | |
| Other amounts payable | 47/48 | €14,595 | €4,839 | -€9,757 | -66.8% |
| Accrued charges and deferred income | 492/3 | €7,125 | €11,625 | +€4,500 | +63.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,164 | €17,737 | -€24,427 | -57.9% |
| Other operating charges | 640/8 | €4,809 | €4,721 | -€88 | -1.8% |
| Gross operating margin | 9900 | €70,498 | €127,816 | +€57,318 | +81.3% |
| Operating profit (loss) | 9901 | €23,525 | €105,358 | +€81,833 | +348% |
| Financial income | 75/76B | €181 | €80 | -€101 | -55.9% |
| Recurring financial income | 75 | €181 | €80 | -€101 | -55.9% |
| Financial charges | 65/66B | €41,327 | €31,042 | -€10,285 | -24.9% |
| Recurring financial charges | 65 | €41,327 | €31,042 | -€10,285 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,621 | €74,396 | +€92,017 | |
| Income taxes | 67/77 | €720 | €15,374 | +€14,653 | +2,034% |
| Profit (loss) for the period | 9904 | -€18,341 | €59,022 | +€77,364 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,341 | €59,022 | +€77,364 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.