GSE CONSULTING: 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.
GSE CONSULTING
Largest movements
- Receivables within one year +€83,000
up €83,000 (+277%), from €30,000 to €113,000
- Cash +€35,955
up €35,955 (+370%), from €9,717 to €45,671
mainly Net result for the year (+€161,295) and Other debts (+€55,897)
- Current investments -€25,486
down €25,486 (-77.0%), from €33,091 to €7,606
- Profit (loss) carried forward +€84,118
up €84,118 (+109%), from €77,177 to €161,295
- Other debts +€55,897
up €55,897 (+207%), from €26,949 to €82,846
- Debts after one year -€44,840
down €44,840 (-18.2%), from €246,134 to €201,294
- Reserves -€16,576
down €16,576 (-26.8%), from €61,820 to €45,243
- Tax, wage and social debts +€13,508
up €13,508 (+167%), from €8,096 to €21,604
- Gross operating margin +€94,874
up €94,874 (+85.0%), from €111,678 to €206,552
- Taxes +€7,650
up €7,650 (+104%), from €7,324 to €14,974
- Depreciation +€6,780
up €6,780 (+37.3%), from €18,152 to €24,932
- Financial charges -€3,378
down €3,378 (-49.9%), from €6,774 to €3,396
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 | €468,343 | €559,852 | +€91,509 | +19.5% |
| Fixed assets | 21/28 | €393,801 | €391,559 | -€2,241 | -0.6% |
| Tangible fixed assets | 22/27 | €203,801 | €201,559 | -€2,241 | -1.1% |
| Land and buildings | 22 | €169,643 | €177,589 | +€7,946 | +4.7% |
| Furniture and vehicles | 24 | €34,158 | €21,751 | -€12,406 | -36.3% |
| Other tangible fixed assets | 26 | - | €2,219 | +€2,219 | |
| Financial fixed assets | 28 | €190,000 | €190,000 | = | 0.0% |
| Current assets | 29/58 | €74,542 | €168,293 | +€93,750 | +126% |
| Amounts receivable within one year | 40/41 | €30,000 | €113,000 | +€83,000 | +277% |
| Other amounts receivable | 41 | €30,000 | €113,000 | +€83,000 | +277% |
| Current investments | 50/53 | €33,091 | €7,606 | -€25,486 | -77.0% |
| Cash at bank and in hand | 54/58 | €9,717 | €45,671 | +€35,955 | +370% |
| Deferred charges and accrued income | 490/1 | €1,734 | €2,016 | +€281 | +16.2% |
| Total equity and liabilities | 10/49 | €468,343 | €559,852 | +€91,509 | +19.5% |
| Equity | 10/15 | €140,997 | €208,538 | +€67,541 | +47.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €61,820 | €45,243 | -€16,576 | -26.8% |
| Distributable reserves | 133 | €61,820 | €45,243 | -€16,576 | -26.8% |
| Profit (loss) carried forward | 14 | €77,177 | €161,295 | +€84,118 | +109% |
| Amounts payable | 17/49 | €327,346 | €351,314 | +€23,968 | +7.3% |
| Amounts payable after more than one year | 17 | €246,134 | €201,294 | -€44,840 | -18.2% |
| Financial debts | 170/4 | €246,134 | €201,294 | -€44,840 | -18.2% |
| Amounts payable within one year | 42/48 | €81,119 | €149,996 | +€68,877 | +84.9% |
| Current portion of amounts payable after more than one year | 42 | €44,641 | €44,840 | +€198 | +0.4% |
| Trade debts | 44 | €1,432 | €706 | -€726 | -50.7% |
| Suppliers | 440/4 | €1,432 | €706 | -€726 | -50.7% |
| Taxes, remuneration and social security | 45 | €8,096 | €21,604 | +€13,508 | +167% |
| Taxes | 450/3 | €8,096 | €21,604 | +€13,508 | +167% |
| Other amounts payable | 47/48 | €26,949 | €82,846 | +€55,897 | +207% |
| Accrued charges and deferred income | 492/3 | €93 | €23 | -€70 | -74.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,152 | €24,932 | +€6,780 | +37.3% |
| Other operating charges | 640/8 | €2,540 | €2,036 | -€504 | -19.8% |
| Gross operating margin | 9900 | €111,678 | €206,552 | +€94,874 | +85.0% |
| Operating profit (loss) | 9901 | €90,986 | €179,584 | +€88,598 | +97.4% |
| Financial income | 75/76B | €289 | €80 | -€209 | -72.4% |
| Recurring financial income | 75 | €289 | €80 | -€209 | -72.4% |
| Financial charges | 65/66B | €6,774 | €3,396 | -€3,378 | -49.9% |
| Recurring financial charges | 65 | €6,774 | €3,396 | -€3,378 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €84,501 | €176,268 | +€91,767 | +109% |
| Income taxes | 67/77 | €7,324 | €14,974 | +€7,650 | +104% |
| Profit (loss) for the period | 9904 | €77,177 | €161,295 | +€84,118 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €77,177 | €161,295 | +€84,118 | +109% |
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 20 October 2026 via checked.be.