GS Estate: what changed
What changed
GS Estate
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€1,898
2024 · €2,892-€994
Equity
€44,790
2024 · €42,892+€1,898
Cash
€2,535
2024 · €725+€1,811
Balance sheet total
€307,217
2024 · €257,408+€49,809
Largest movements
Assets
- Tangible fixed assets +€48,924
up €48,924 (+19.2%), from €255,211 to €304,135
Equity and liabilities
- Other debts +€49,250
up €49,250 (+123%), from €40,000 to €89,250
- Debts after one year -€8,025
down €8,025 (-5.4%), from €149,866 to €141,841
- Trade debts +€5,985
up €5,985 (+36.1%), from €16,562 to €22,546
Income statement
- Depreciation +€8,509
up €8,509 (+248%), from €3,429 to €11,938
- Gross operating margin +€5,811
up €5,811 (+35.2%), from €16,490 to €22,301
- Other operating charges -€5,041
down €5,041 (-85.8%), from €5,875 to €835
- Financial charges +€3,734
up €3,734 (+95.8%), from €3,896 to €7,630
- Taxes -€397
down €397 (-100%), from €397 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2,892
Gross operating margin
+€5,811
Depreciation
-€8,509
Other operating charges
+€5,041
Financial charges
-€3,734
Taxes
+€397
Result 2025
€1,898
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€70,332
Investment
-€60,862
Financing
-€7,659
Cash 2024
€725
From operations (derived)
+€70,332
Net result for the year
+€1,898
Depreciation
+€11,938
Receivables within one year
+€1,473
Deferred charges and accrued income
-€546
Trade debts
+€5,985
Tax, wage and social debts
+€335
Other debts
+€49,250
Investment (derived)
-€60,862
Investment in fixed assets (net)
-€60,862
Financing
-€7,659
Debts after one year
-€8,025
Current portion of long-term debt
+€366
Cash 2025
€2,535
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €257,408 | €307,217 | +€49,809 | +19.4% |
| Fixed assets | 21/28 | €255,211 | €304,135 | +€48,924 | +19.2% |
| Tangible fixed assets | 22/27 | €255,211 | €304,135 | +€48,924 | +19.2% |
| Other tangible fixed assets | 26 | €255,211 | €304,135 | +€48,924 | +19.2% |
| Current assets | 29/58 | €2,197 | €3,082 | +€884 | +40.2% |
| Amounts receivable within one year | 40/41 | €1,473 | €0 | -€1,473 | -100% |
| Trade receivables | 40 | €1,473 | €0 | -€1,473 | -100% |
| Cash at bank and in hand | 54/58 | €725 | €2,535 | +€1,811 | +250% |
| Deferred charges and accrued income | 490/1 | - | €546 | +€546 | |
| Total equity and liabilities | 10/49 | €257,408 | €307,217 | +€49,809 | +19.4% |
| Equity | 10/15 | €42,892 | €44,790 | +€1,898 | +4.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,892 | €4,790 | +€1,898 | +65.6% |
| Amounts payable | 17/49 | €214,516 | €262,426 | +€47,911 | +22.3% |
| Amounts payable after more than one year | 17 | €149,866 | €141,841 | -€8,025 | -5.4% |
| Financial debts | 170/4 | €149,866 | €141,841 | -€8,025 | -5.4% |
| Amounts payable within one year | 42/48 | €64,649 | €120,585 | +€55,936 | +86.5% |
| Current portion of amounts payable after more than one year | 42 | €7,659 | €8,025 | +€366 | +4.8% |
| Trade debts | 44 | €16,562 | €22,546 | +€5,985 | +36.1% |
| Suppliers | 440/4 | €16,562 | €22,546 | +€5,985 | +36.1% |
| Taxes, remuneration and social security | 45 | €429 | €764 | +€335 | +78.1% |
| Taxes | 450/3 | €429 | €764 | +€335 | +78.1% |
| Other amounts payable | 47/48 | €40,000 | €89,250 | +€49,250 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,429 | €11,938 | +€8,509 | +248% |
| Other operating charges | 640/8 | €5,875 | €835 | -€5,041 | -85.8% |
| Gross operating margin | 9900 | €16,490 | €22,301 | +€5,811 | +35.2% |
| Operating profit (loss) | 9901 | €7,186 | €9,528 | +€2,343 | +32.6% |
| Financial charges | 65/66B | €3,896 | €7,630 | +€3,734 | +95.8% |
| Recurring financial charges | 65 | €3,896 | €7,630 | +€3,734 | +95.8% |
| Profit (loss) for the period before taxes | 9903 | €3,289 | €1,898 | -€1,391 | -42.3% |
| Income taxes | 67/77 | €397 | €0 | -€397 | -100% |
| Profit (loss) for the period | 9904 | €2,892 | €1,898 | -€994 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,892 | €1,898 | -€994 | -34.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.