GS: 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.
GS
Largest movements
- Cash +€53,719
up €53,719 (+250.0%), from €21,488 to €75,207
mainly Net result for the year (+€37,144) and Receivables within one year (+€24,736)
- Receivables within one year -€24,736
down €24,736 (-36.4%), from €67,870 to €43,134
of which Other amounts receivable: -€29,562
- Reserves +€37,144
up €37,144 (+84.9%), from €43,735 to €80,879
- Trade debts -€9,370
down €9,370 (-36.5%), from €25,690 to €16,321
- Gross operating margin -€2,013
down €2,013 (-3.6%), from €55,592 to €53,579
- Taxes -€997
down €997 (-6.3%), from €15,811 to €14,814
- Other operating charges +€608
up €608 (+62.9%), from €967 to €1,575
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 | €93,778 | €122,322 | +€28,544 | +30.4% |
| Fixed assets | 21/28 | €4,420 | €3,981 | -€439 | -9.9% |
| Tangible fixed assets | 22/27 | €4,420 | €3,981 | -€439 | -9.9% |
| Plant, machinery and equipment | 23 | €1,206 | €1,712 | +€506 | +41.9% |
| Furniture and vehicles | 24 | €3,213 | €2,269 | -€945 | -29.4% |
| Current assets | 29/58 | €89,358 | €118,341 | +€28,982 | +32.4% |
| Amounts receivable within one year | 40/41 | €67,870 | €43,134 | -€24,736 | -36.4% |
| Trade receivables | 40 | €30,713 | €35,539 | +€4,826 | +15.7% |
| Other amounts receivable | 41 | €37,158 | €7,596 | -€29,562 | -79.6% |
| Cash at bank and in hand | 54/58 | €21,488 | €75,207 | +€53,719 | +250.0% |
| Total equity and liabilities | 10/49 | €93,778 | €122,322 | +€28,544 | +30.4% |
| Equity | 10/15 | €46,735 | €83,879 | +€37,144 | +79.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,735 | €80,879 | +€37,144 | +84.9% |
| Distributable reserves | 133 | €43,735 | €80,879 | +€37,144 | +84.9% |
| Amounts payable | 17/49 | €47,043 | €38,442 | -€8,600 | -18.3% |
| Amounts payable within one year | 42/48 | €47,043 | €38,442 | -€8,600 | -18.3% |
| Trade debts | 44 | €25,690 | €16,321 | -€9,370 | -36.5% |
| Suppliers | 440/4 | €25,690 | €16,321 | -€9,370 | -36.5% |
| Taxes, remuneration and social security | 45 | €21,352 | €22,122 | +€770 | +3.6% |
| Taxes | 450/3 | €21,352 | €22,122 | +€770 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €831 | €1,248 | +€417 | +50.2% |
| Other operating charges | 640/8 | €967 | €1,575 | +€608 | +62.9% |
| Gross operating margin | 9900 | €55,592 | €53,579 | -€2,013 | -3.6% |
| Operating profit (loss) | 9901 | €53,795 | €50,756 | -€3,039 | -5.6% |
| Financial income | 75/76B | €1,033 | €1,305 | +€272 | +26.4% |
| Recurring financial income | 75 | €1,033 | €1,305 | +€272 | +26.4% |
| Financial charges | 65/66B | €14 | €103 | +€89 | +620.1% |
| Recurring financial charges | 65 | €14 | €103 | +€89 | +620.1% |
| Profit (loss) for the period before taxes | 9903 | €54,813 | €51,958 | -€2,855 | -5.2% |
| Income taxes | 67/77 | €15,811 | €14,814 | -€997 | -6.3% |
| Profit (loss) for the period | 9904 | €39,002 | €37,144 | -€1,858 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,002 | €37,144 | -€1,858 | -4.8% |
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.