GS ELECTRIC: 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 ELECTRIC
Largest movements
- Cash -€51,607
down €51,607 (-54.1%), from €95,460 to €43,853
mainly Investment in fixed assets (net) (-€30,745) and Debts after one year (-€29,127)
- Stocks and contracts +€14,405
up €14,405 (+7.2%), from €199,171 to €213,575
- Receivables within one year -€8,469
down €8,469 (-21.8%), from €38,828 to €30,358
of which Other amounts receivable: -€6,678
- Debts after one year -€29,127
down €29,127 (-16.0%), from €182,464 to €153,337
- Other debts -€24,700
down €24,700 (-32.5%), from €75,935 to €51,235
- Reserves +€10,285
up €10,285 (+3.2%), from €324,789 to €335,074
- Gross operating margin -€30,784
down €30,784 (-23.6%), from €130,470 to €99,687
- Taxes -€5,941
down €5,941 (-64.3%), from €9,244 to €3,303
- Staff costs -€2,901
down €2,901 (-6.5%), from €44,963 to €42,062
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 | €683,107 | €637,381 | -€45,727 | -6.7% |
| Fixed assets | 21/28 | €345,732 | €344,653 | -€1,079 | -0.3% |
| Tangible fixed assets | 22/27 | €345,707 | €344,629 | -€1,079 | -0.3% |
| Land and buildings | 22 | €319,389 | €317,240 | -€2,149 | -0.7% |
| Plant, machinery and equipment | 23 | €6,348 | €14,242 | +€7,895 | +124% |
| Furniture and vehicles | 24 | €19,971 | €13,146 | -€6,825 | -34.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €337,375 | €292,727 | -€44,648 | -13.2% |
| Stocks and contracts in progress | 3 | €199,171 | €213,575 | +€14,405 | +7.2% |
| Stocks | 30/36 | €199,171 | €213,575 | +€14,405 | +7.2% |
| Amounts receivable within one year | 40/41 | €38,828 | €30,358 | -€8,469 | -21.8% |
| Trade receivables | 40 | €32,150 | €30,358 | -€1,791 | -5.6% |
| Other amounts receivable | 41 | €6,678 | - | -€6,678 | |
| Cash at bank and in hand | 54/58 | €95,460 | €43,853 | -€51,607 | -54.1% |
| Deferred charges and accrued income | 490/1 | €3,917 | €4,941 | +€1,024 | +26.1% |
| Total equity and liabilities | 10/49 | €683,107 | €637,381 | -€45,727 | -6.7% |
| Equity | 10/15 | €343,381 | €353,666 | +€10,285 | +3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €324,789 | €335,074 | +€10,285 | +3.2% |
| Distributable reserves | 133 | €324,789 | €335,074 | +€10,285 | +3.2% |
| Amounts payable | 17/49 | €339,727 | €283,715 | -€56,012 | -16.5% |
| Amounts payable after more than one year | 17 | €182,464 | €153,337 | -€29,127 | -16.0% |
| Financial debts | 170/4 | €182,464 | €153,337 | -€29,127 | -16.0% |
| Amounts payable within one year | 42/48 | €157,262 | €129,336 | -€27,926 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €28,312 | €29,127 | +€815 | +2.9% |
| Trade debts | 44 | €29,363 | €31,301 | +€1,938 | +6.6% |
| Suppliers | 440/4 | €29,363 | €31,301 | +€1,938 | +6.6% |
| Taxes, remuneration and social security | 45 | €23,652 | €17,673 | -€5,979 | -25.3% |
| Taxes | 450/3 | €15,215 | €10,544 | -€4,671 | -30.7% |
| Remuneration and social security | 454/9 | €8,437 | €7,129 | -€1,308 | -15.5% |
| Other amounts payable | 47/48 | €75,935 | €51,235 | -€24,700 | -32.5% |
| Accrued charges and deferred income | 492/3 | - | €1,041 | +€1,041 | |
| Remuneration, social security and pensions | 62 | €44,963 | €42,062 | -€2,901 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,140 | €31,824 | +€684 | +2.2% |
| Other operating charges | 640/8 | €6,115 | €4,998 | -€1,117 | -18.3% |
| Gross operating margin | 9900 | €130,470 | €99,687 | -€30,784 | -23.6% |
| Operating profit (loss) | 9901 | €48,253 | €20,803 | -€27,449 | -56.9% |
| Financial income | 75/76B | €88 | €40 | -€48 | -54.5% |
| Recurring financial income | 75 | €88 | €40 | -€48 | -54.5% |
| Financial charges | 65/66B | €8,172 | €7,255 | -€917 | -11.2% |
| Recurring financial charges | 65 | €8,172 | €7,255 | -€917 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €40,169 | €13,588 | -€26,580 | -66.2% |
| Income taxes | 67/77 | €9,244 | €3,303 | -€5,941 | -64.3% |
| Profit (loss) for the period | 9904 | €30,925 | €10,285 | -€20,639 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,925 | €10,285 | -€20,639 | -66.7% |
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 15 October 2026 via checked.be.