GSCH: 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.
GSCH
Largest movements
- Cash +€36,180
up €36,180 (+28.8%), from €125,735 to €161,915
mainly Net result for the year (+€42,350) and Tax, wage and social debts (+€3,324)
- Receivables within one year +€3,718
up €3,718 (+24.4%), from €15,228 to €18,946
of which Trade receivables: +€8,041
- Reserves +€42,000
up €42,000 (+54.6%), from €76,860 to €118,860
- Other debts -€6,075
no longer reported in 2025 (was €6,075)
- Tax, wage and social debts +€3,324
up €3,324 (+66.5%), from €5,000 to €8,324
- Gross operating margin +€41,683
up €41,683 (+322%), from €12,950 to €54,633
- Taxes +€9,691
up €9,691 (+583%), from €1,661 to €11,352
- Depreciation -€5,769
down €5,769 (-94.9%), from €6,079 to €309
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 | €151,228 | €190,911 | +€39,683 | +26.2% |
| Fixed assets | 21/28 | €309 | - | -€309 | |
| Tangible fixed assets | 22/27 | €309 | - | -€309 | |
| Furniture and vehicles | 24 | €309 | - | -€309 | |
| Current assets | 29/58 | €150,919 | €190,911 | +€39,992 | +26.5% |
| Stocks and contracts in progress | 3 | €7,420 | €6,908 | -€512 | -6.9% |
| Stocks | 30/36 | €7,420 | €6,908 | -€512 | -6.9% |
| Amounts receivable within one year | 40/41 | €15,228 | €18,946 | +€3,718 | +24.4% |
| Trade receivables | 40 | €5,871 | €13,912 | +€8,041 | +137% |
| Other amounts receivable | 41 | €9,357 | €5,034 | -€4,324 | -46.2% |
| Cash at bank and in hand | 54/58 | €125,735 | €161,915 | +€36,180 | +28.8% |
| Deferred charges and accrued income | 490/1 | €2,536 | €3,143 | +€607 | +23.9% |
| Total equity and liabilities | 10/49 | €151,228 | €190,911 | +€39,683 | +26.2% |
| Equity | 10/15 | €138,803 | €181,153 | +€42,350 | +30.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €76,860 | €118,860 | +€42,000 | +54.6% |
| Distributable reserves | 133 | €76,860 | €118,860 | +€42,000 | +54.6% |
| Profit (loss) carried forward | 14 | €43,343 | €43,693 | +€350 | +0.8% |
| Amounts payable | 17/49 | €12,425 | €9,758 | -€2,667 | -21.5% |
| Amounts payable within one year | 42/48 | €12,425 | €9,758 | -€2,667 | -21.5% |
| Trade debts | 44 | €1,350 | €1,434 | +€84 | +6.2% |
| Suppliers | 440/4 | €1,350 | €1,434 | +€84 | +6.2% |
| Taxes, remuneration and social security | 45 | €5,000 | €8,324 | +€3,324 | +66.5% |
| Taxes | 450/3 | €5,000 | €8,324 | +€3,324 | +66.5% |
| Other amounts payable | 47/48 | €6,075 | - | -€6,075 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,079 | €309 | -€5,769 | -94.9% |
| Other operating charges | 640/8 | €515 | €527 | +€12 | +2.4% |
| Gross operating margin | 9900 | €12,950 | €54,633 | +€41,683 | +322% |
| Operating profit (loss) | 9901 | €6,357 | €53,797 | +€47,440 | +746% |
| Financial income | 75/76B | €161 | €129 | -€32 | -19.9% |
| Recurring financial income | 75 | €161 | €129 | -€32 | -19.9% |
| Financial charges | 65/66B | €181 | €225 | +€44 | +24.4% |
| Recurring financial charges | 65 | €181 | €225 | +€44 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | €6,337 | €53,701 | +€47,364 | +747% |
| Income taxes | 67/77 | €1,661 | €11,352 | +€9,691 | +583% |
| Profit (loss) for the period | 9904 | €4,676 | €42,350 | +€37,673 | +806% |
| Profit (loss) for the period to be appropriated | 9905 | €4,676 | €42,350 | +€37,673 | +806% |
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 17 October 2026 via checked.be.