GS RECRUITMENT: what changed
What changed
GS RECRUITMENT
NACE 78.100, Employment placement agencies
filed annual accounts (NBB)
Net result for the year
€98,120
2024 · €93,405+€4,716
Equity
€400,553
2024 · €302,433+€98,120
Cash
€244,037
2024 · €182,890+€61,147
Balance sheet total
€879,994
2024 · €845,774+€34,220
Largest movements
Assets
- Cash +€61,147
up €61,147 (+33.4%), from €182,890 to €244,037
mainly Net result for the year (+€98,120) and Other debts (+€60,387)
- Deferred charges and accrued income -€12,035
down €12,035 (-61.0%), from €19,733 to €7,698
Equity and liabilities
- Reserves +€98,120
up €98,120 (+33.0%), from €297,433 to €395,553
- Provisions -€63,957
down €63,957 (-100%), from €63,957 to €0
- Other debts +€60,387
up €60,387 (+445%), from €13,556 to €73,943
- Debts after one year -€23,408
down €23,408 (-5.9%), from €398,971 to €375,563
of which Financial debts: -€23,408
- Current portion of long-term debt -€19,076
down €19,076 (-44.9%), from €42,483 to €23,408
Income statement
- Provisions -€127,914
down €127,914, from €63,957 to -€63,957
- Financial charges +€75,105
up €75,105 (+385%), from €19,499 to €94,604
- Gross operating margin -€43,688
down €43,688 (-18.9%), from €231,705 to €188,016
- Taxes +€2,814
up €2,814 (+7.4%), from €37,928 to €40,741
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
€93,405
Gross operating margin
-€43,688
Depreciation
-€1,497
Provisions
+€127,914
Other operating charges
-€171
Financial income
+€77
Financial charges
-€75,105
Taxes
-€2,814
Result 2025
€98,120
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
+€111,752
Investment
-€8,122
Financing
-€42,483
Cash 2024
€182,890
From operations (derived)
+€111,752
Net result for the year
+€98,120
Depreciation
+€16,249
Receivables within one year
+€6,763
Deferred charges and accrued income
+€12,035
Provisions
-€63,957
Trade debts
-€8,320
Tax, wage and social debts
-€11,087
Other debts
+€60,387
Accrued charges and deferred income
+€1,561
Investment (derived)
-€8,122
Investment in fixed assets (net)
-€8,122
Financing
-€42,483
Debts after one year
-€23,408
Current portion of long-term debt
-€19,076
Cash 2025
€244,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €845,774 | €879,994 | +€34,220 | +4.0% |
| Fixed assets | 21/28 | €533,078 | €524,950 | -€8,128 | -1.5% |
| Intangible fixed assets | 21 | €2,133 | €1,173 | -€960 | -45.0% |
| Tangible fixed assets | 22/27 | €530,945 | €523,777 | -€7,168 | -1.4% |
| Land and buildings | 22 | €530,497 | €523,717 | -€6,780 | -1.3% |
| Furniture and vehicles | 24 | €448 | €60 | -€388 | -86.5% |
| Current assets | 29/58 | €312,696 | €355,044 | +€42,348 | +13.5% |
| Amounts receivable within one year | 40/41 | €110,073 | €103,310 | -€6,763 | -6.1% |
| Trade receivables | 40 | €73,660 | €84,239 | +€10,579 | +14.4% |
| Other amounts receivable | 41 | €36,413 | €19,071 | -€17,342 | -47.6% |
| Cash at bank and in hand | 54/58 | €182,890 | €244,037 | +€61,147 | +33.4% |
| Deferred charges and accrued income | 490/1 | €19,733 | €7,698 | -€12,035 | -61.0% |
| Total equity and liabilities | 10/49 | €845,774 | €879,994 | +€34,220 | +4.0% |
| Equity | 10/15 | €302,433 | €400,553 | +€98,120 | +32.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €297,433 | €395,553 | +€98,120 | +33.0% |
| Distributable reserves | 133 | €297,433 | €395,553 | +€98,120 | +33.0% |
| Provisions and deferred taxes | 16 | €63,957 | €0 | -€63,957 | -100% |
| Provisions for liabilities and charges | 160/5 | €63,957 | €0 | -€63,957 | -100% |
| Other liabilities and charges | 164/5 | €63,957 | €0 | -€63,957 | -100% |
| Amounts payable | 17/49 | €479,384 | €479,441 | +€57 | 0.0% |
| Amounts payable after more than one year | 17 | €398,971 | €375,563 | -€23,408 | -5.9% |
| Financial debts | 170/4 | €391,921 | €368,513 | -€23,408 | -6.0% |
| Other amounts payable | 178/9 | €7,050 | €7,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €80,324 | €102,228 | +€21,904 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €42,483 | €23,408 | -€19,076 | -44.9% |
| Trade debts | 44 | €10,246 | €1,925 | -€8,320 | -81.2% |
| Suppliers | 440/4 | €10,246 | €1,925 | -€8,320 | -81.2% |
| Taxes, remuneration and social security | 45 | €14,040 | €2,953 | -€11,087 | -79.0% |
| Taxes | 450/3 | €14,040 | €2,953 | -€11,087 | -79.0% |
| Other amounts payable | 47/48 | €13,556 | €73,943 | +€60,387 | +445% |
| Accrued charges and deferred income | 492/3 | €89 | €1,650 | +€1,561 | +1,755% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,753 | €16,249 | +€1,497 | +10.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €63,957 | -€63,957 | -€127,914 | |
| Other operating charges | 640/8 | €2,179 | €2,350 | +€171 | +7.9% |
| Gross operating margin | 9900 | €231,705 | €188,016 | -€43,688 | -18.9% |
| Operating profit (loss) | 9901 | €150,816 | €233,374 | +€82,558 | +54.7% |
| Financial income | 75/76B | €15 | €92 | +€77 | +499% |
| Recurring financial income | 75 | €15 | €92 | +€77 | +499% |
| Financial charges | 65/66B | €19,499 | €94,604 | +€75,105 | +385% |
| Recurring financial charges | 65 | €19,499 | €94,604 | +€75,105 | +385% |
| Profit (loss) for the period before taxes | 9903 | €131,332 | €138,862 | +€7,529 | +5.7% |
| Income taxes | 67/77 | €37,928 | €40,741 | +€2,814 | +7.4% |
| Profit (loss) for the period | 9904 | €93,405 | €98,120 | +€4,716 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,405 | €98,120 | +€4,716 | +5.0% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 3 November 2026 via checked.be.