GPZ 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.
GPZ MANAGEMENT
Largest movements
- Tangible fixed assets -€165,672
down €165,672 (-97.6%), from €169,674 to €4,002
of which Land and buildings: -€151,791
- Receivables within one year +€47,277
up €47,277 (+4588.4%), from €1,030 to €48,307
of which Other amounts receivable: +€27,489
- Other debts -€164,632
down €164,632 (-98.2%), from €167,718 to €3,087
- Profit (loss) carried forward +€24,034
up €24,034 (+24.9%), from -€96,604 to -€72,570
- Advances received +€19,425
new in 2025: €19,425
- Gross operating margin +€193,303
up €193,303, from -€2,895 to €190,408
- Depreciation -€4,919
down €4,919 (-64.9%), from €7,573 to €2,655
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 | €171,626 | €52,688 | -€118,939 | -69.3% |
| Fixed assets | 21/28 | €169,674 | €4,002 | -€165,672 | -97.6% |
| Tangible fixed assets | 22/27 | €169,674 | €4,002 | -€165,672 | -97.6% |
| Land and buildings | 22 | €151,791 | - | -€151,791 | |
| Plant, machinery and equipment | 23 | €17,883 | €4,002 | -€13,881 | -77.6% |
| Current assets | 29/58 | €1,952 | €48,685 | +€46,733 | +2394.2% |
| Amounts receivable within one year | 40/41 | €1,030 | €48,307 | +€47,277 | +4588.4% |
| Trade receivables | 40 | - | €19,788 | +€19,788 | |
| Other amounts receivable | 41 | €1,030 | €28,519 | +€27,489 | +2667.9% |
| Cash at bank and in hand | 54/58 | €922 | €378 | -€543 | -59.0% |
| Total equity and liabilities | 10/49 | €171,626 | €52,688 | -€118,939 | -69.3% |
| Equity | 10/15 | €3,396 | €27,430 | +€24,034 | +707.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,604 | -€72,570 | +€24,034 | +24.9% |
| Amounts payable | 17/49 | €168,230 | €25,257 | -€142,972 | -85.0% |
| Amounts payable within one year | 42/48 | €168,230 | €25,257 | -€142,972 | -85.0% |
| Trade debts | 44 | €192 | €1,685 | +€1,494 | +779.7% |
| Suppliers | 440/4 | €192 | €1,685 | +€1,494 | +779.7% |
| Advances received on contracts in progress | 46 | - | €19,425 | +€19,425 | |
| Taxes, remuneration and social security | 45 | €320 | €1,060 | +€740 | +231.4% |
| Taxes | 450/3 | €320 | €1,060 | +€740 | +231.4% |
| Other amounts payable | 47/48 | €167,718 | €3,087 | -€164,632 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,573 | €2,655 | -€4,919 | -64.9% |
| Other operating charges | 640/8 | - | €393 | +€393 | |
| Non-recurring operating charges | 66A | - | €163,017 | +€163,017 | |
| Gross operating margin | 9900 | -€2,895 | €190,408 | +€193,303 | |
| Operating profit (loss) | 9901 | -€10,468 | €24,343 | +€34,812 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €136 | €152 | +€16 | +11.8% |
| Recurring financial charges | 65 | €136 | €152 | +€16 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,604 | €24,192 | +€34,796 | |
| Income taxes | 67/77 | €320 | €158 | -€162 | -50.7% |
| Profit (loss) for the period | 9904 | -€10,924 | €24,034 | +€34,958 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,924 | €24,034 | +€34,958 |
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 10 October 2026 via checked.be.