GS@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.
GS@Management
Largest movements
- Cash +€7,643
up €7,643 (+11.4%), from €66,931 to €74,574
mainly Net result for the year (+€12,908) and Receivables within one year (+€6,275)
- Receivables within one year -€6,275
down €6,275 (-75.2%), from €8,344 to €2,069
- Profit (loss) carried forward +€12,908
up €12,908 (+25.2%), from €51,274 to €64,182
- Tax, wage and social debts -€9,203
down €9,203 (-60.9%), from €15,106 to €5,903
- Other debts -€3,124
down €3,124 (-80.4%), from €3,884 to €760
- Trade debts +€849
up €849 (+7,256%), from €12 to €861
- Gross operating margin -€36,357
down €36,357 (-68.3%), from €53,242 to €16,885
- Taxes -€7,070
down €7,070 (-65.6%), from €10,783 to €3,713
- Depreciation -€731
no longer reported in 2025 (was €731)
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 | €75,275 | €76,705 | +€1,430 | +1.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Current assets | 29/58 | €75,275 | €76,705 | +€1,430 | +1.9% |
| Amounts receivable within one year | 40/41 | €8,344 | €2,069 | -€6,275 | -75.2% |
| Trade receivables | 40 | €8,344 | €2,069 | -€6,275 | -75.2% |
| Cash at bank and in hand | 54/58 | €66,931 | €74,574 | +€7,643 | +11.4% |
| Deferred charges and accrued income | 490/1 | - | €62 | +€62 | |
| Total equity and liabilities | 10/49 | €75,275 | €76,705 | +€1,430 | +1.9% |
| Equity | 10/15 | €56,274 | €69,182 | +€12,908 | +22.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,274 | €64,182 | +€12,908 | +25.2% |
| Amounts payable | 17/49 | €19,001 | €7,523 | -€11,478 | -60.4% |
| Amounts payable within one year | 42/48 | €19,001 | €7,523 | -€11,478 | -60.4% |
| Trade debts | 44 | €12 | €861 | +€849 | +7,256% |
| Suppliers | 440/4 | €12 | €861 | +€849 | +7,256% |
| Taxes, remuneration and social security | 45 | €15,106 | €5,903 | -€9,203 | -60.9% |
| Taxes | 450/3 | €15,106 | €5,903 | -€9,203 | -60.9% |
| Other amounts payable | 47/48 | €3,884 | €760 | -€3,124 | -80.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €731 | - | -€731 | |
| Other operating charges | 640/8 | - | €222 | +€222 | |
| Gross operating margin | 9900 | €53,242 | €16,885 | -€36,357 | -68.3% |
| Operating profit (loss) | 9901 | €52,511 | €16,663 | -€35,848 | -68.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €40 | €42 | +€2 | +5.4% |
| Recurring financial charges | 65 | €40 | €42 | +€2 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €52,471 | €16,621 | -€35,850 | -68.3% |
| Income taxes | 67/77 | €10,783 | €3,713 | -€7,070 | -65.6% |
| Profit (loss) for the period | 9904 | €41,688 | €12,908 | -€28,780 | -69.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,688 | €12,908 | -€28,780 | -69.0% |
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 14 October 2026 via checked.be.