GS TERRASSEMENT: 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 TERRASSEMENT
Largest movements
- Receivables within one year +€11,035
up €11,035 (+62.5%), from €17,648 to €28,683
of which Trade receivables: +€11,035
- Cash -€9,264
down €9,264 (-69.8%), from €13,276 to €4,012
mainly Receivables within one year (-€11,035) and Debts after one year (-€7,037)
- Tangible fixed assets -€4,572
down €4,572 (-100%), from €4,572 to €0
- Trade debts +€7,243
up €7,243 (+54.1%), from €13,378 to €20,621
- Debts after one year -€7,037
down €7,037 (-100%), from €7,037 to €0
- Current portion of long-term debt -€1,972
down €1,972 (-21.9%), from €9,009 to €7,037
- Profit (loss) carried forward -€1,714
down €1,714 (-91.4%), from -€1,877 to -€3,591
- Other debts +€1,124
up €1,124 (+37.4%), from €3,005 to €4,129
- Gross operating margin -€13,666
down €13,666 (-73.6%), from €18,580 to €4,914
- Depreciation -€1,561
down €1,561 (-25.4%), from €6,133 to €4,572
- Taxes -€1,354
down €1,354 (-94.9%), from €1,427 to €72
- Financial charges -€880
down €880 (-48.7%), from €1,808 to €928
- Other operating charges +€419
up €419 (+46.7%), from €897 to €1,317
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 | €35,868 | €33,068 | -€2,801 | -7.8% |
| Fixed assets | 21/28 | €4,572 | €0 | -€4,572 | -100% |
| Tangible fixed assets | 22/27 | €4,572 | €0 | -€4,572 | -100% |
| Plant, machinery and equipment | 23 | €4,572 | €0 | -€4,572 | -100% |
| Current assets | 29/58 | €31,296 | €33,068 | +€1,771 | +5.7% |
| Amounts receivable within one year | 40/41 | €17,648 | €28,683 | +€11,035 | +62.5% |
| Trade receivables | 40 | €13,659 | €24,695 | +€11,035 | +80.8% |
| Other amounts receivable | 41 | €3,989 | €3,989 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,276 | €4,012 | -€9,264 | -69.8% |
| Deferred charges and accrued income | 490/1 | €372 | €372 | = | 0.0% |
| Total equity and liabilities | 10/49 | €35,868 | €33,068 | -€2,801 | -7.8% |
| Equity | 10/15 | €1,123 | -€591 | -€1,714 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,877 | -€3,591 | -€1,714 | -91.4% |
| Amounts payable | 17/49 | €34,745 | €33,659 | -€1,086 | -3.1% |
| Amounts payable after more than one year | 17 | €7,037 | €0 | -€7,037 | -100% |
| Financial debts | 170/4 | €7,037 | €0 | -€7,037 | -100% |
| Amounts payable within one year | 42/48 | €27,708 | €33,659 | +€5,951 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €9,009 | €7,037 | -€1,972 | -21.9% |
| Trade debts | 44 | €13,378 | €20,621 | +€7,243 | +54.1% |
| Suppliers | 440/4 | €13,378 | €20,621 | +€7,243 | +54.1% |
| Taxes, remuneration and social security | 45 | €2,315 | €1,871 | -€444 | -19.2% |
| Taxes | 450/3 | €2,315 | €1,871 | -€444 | -19.2% |
| Other amounts payable | 47/48 | €3,005 | €4,129 | +€1,124 | +37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,133 | €4,572 | -€1,561 | -25.4% |
| Other operating charges | 640/8 | €897 | €1,317 | +€419 | +46.7% |
| Gross operating margin | 9900 | €18,580 | €4,914 | -€13,666 | -73.6% |
| Operating profit (loss) | 9901 | €11,550 | -€975 | -€12,524 | |
| Financial income | 75/76B | €29 | €260 | +€231 | +799% |
| Recurring financial income | 75 | €29 | €260 | +€231 | +799% |
| Financial charges | 65/66B | €1,808 | €928 | -€880 | -48.7% |
| Recurring financial charges | 65 | €1,808 | €928 | -€880 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €9,771 | -€1,642 | -€11,413 | |
| Income taxes | 67/77 | €1,427 | €72 | -€1,354 | -94.9% |
| Profit (loss) for the period | 9904 | €8,344 | -€1,714 | -€10,059 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,344 | -€1,714 | -€10,059 |
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 31 October 2026 via checked.be.