GSF Event: what changed
Two fiscal 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.
GSF Event
Largest movements
- Receivables within one year -€158,344
down €158,344 (-18.0%), from €881,952 to €723,607
of which Trade receivables: -€235,084
- Cash +€93,095
up €93,095 (+13.6%), from €682,646 to €775,741
- Profit (loss) carried forward +€221,955
up €221,955 (+33.5%), from €662,229 to €884,184
- Other debts -€173,265
down €173,265 (-99.3%), from €174,459 to €1,193
- Tax, wage and social debts -€75,703
down €75,703 (-62.9%), from €120,292 to €44,588
of which Taxes: -€83,001
- Trade debts -€71,870
down €71,870 (-10.8%), from €664,086 to €592,216
- Debts after one year +€21,952
up €21,952 (+11.8%), from €186,505 to €208,457
- Gross operating margin +€507,620
up €507,620 (+89.7%), from €565,607 to €1.1m
- Staff costs +€245,853
up €245,853 (+177.3%), from €138,693 to €384,546
- Other operating charges +€99,026
up €99,026 (+974.5%), from €10,162 to €109,187
- Depreciation +€93,126
up €93,126 (+66.1%), from €140,877 to €234,002
- Taxes +€25,290
up €25,290 (+31.2%), from €81,066 to €106,356
From the 2023 result to the 2024 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.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,132,102 | €2,067,674 | -€64,427 | -3.0% |
| Fixed assets | 21/28 | €421,033 | €422,039 | +€1,006 | +0.2% |
| Tangible fixed assets | 22/27 | €420,498 | €416,274 | -€4,224 | -1.0% |
| Plant, machinery and equipment | 23 | €97,502 | €33,823 | -€63,680 | -65.3% |
| Furniture and vehicles | 24 | €315,577 | €376,884 | +€61,307 | +19.4% |
| Other tangible fixed assets | 26 | €7,419 | €5,567 | -€1,851 | -25.0% |
| Financial fixed assets | 28 | €535 | €5,765 | +€5,230 | +977.6% |
| Current assets | 29/58 | €1,711,069 | €1,645,635 | -€65,433 | -3.8% |
| Amounts receivable after more than one year | 29 | €130,000 | €130,000 | = | 0.0% |
| Other amounts receivable | 291 | €130,000 | €130,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €881,952 | €723,607 | -€158,344 | -18.0% |
| Trade receivables | 40 | €560,860 | €325,776 | -€235,084 | -41.9% |
| Other amounts receivable | 41 | €321,092 | €397,831 | +€76,740 | +23.9% |
| Cash at bank and in hand | 54/58 | €682,646 | €775,741 | +€93,095 | +13.6% |
| Deferred charges and accrued income | 490/1 | €16,470 | €16,287 | -€183 | -1.1% |
| Total equity and liabilities | 10/49 | €2,132,102 | €2,067,674 | -€64,427 | -3.0% |
| Equity | 10/15 | €814,240 | €1,036,195 | +€221,955 | +27.3% |
| Contributions | 10/11 | €82,500 | €82,500 | = | 0.0% |
| Reserves | 13 | €69,511 | €69,511 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,250 | €8,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,250 | €8,250 | = | 0.0% |
| Distributable reserves | 133 | €61,261 | €61,261 | = | 0.0% |
| Profit (loss) carried forward | 14 | €662,229 | €884,184 | +€221,955 | +33.5% |
| Amounts payable | 17/49 | €1,317,862 | €1,031,480 | -€286,382 | -21.7% |
| Amounts payable after more than one year | 17 | €186,505 | €208,457 | +€21,952 | +11.8% |
| Financial debts | 170/4 | €186,505 | €208,457 | +€21,952 | +11.8% |
| Amounts payable within one year | 42/48 | €1,125,356 | €823,022 | -€302,334 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €166,520 | €185,024 | +€18,505 | +11.1% |
| Trade debts | 44 | €664,086 | €592,216 | -€71,870 | -10.8% |
| Suppliers | 440/4 | €664,086 | €592,216 | -€71,870 | -10.8% |
| Taxes, remuneration and social security | 45 | €120,292 | €44,588 | -€75,703 | -62.9% |
| Taxes | 450/3 | €96,515 | €13,514 | -€83,001 | -86.0% |
| Remuneration and social security | 454/9 | €23,777 | €31,074 | +€7,298 | +30.7% |
| Other amounts payable | 47/48 | €174,459 | €1,193 | -€173,265 | -99.3% |
| Accrued charges and deferred income | 492/3 | €6,000 | - | -€6,000 | |
| Non-recurring operating income | 76A | €4,000 | - | -€4,000 | |
| Remuneration, social security and pensions | 62 | €138,693 | €384,546 | +€245,853 | +177.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,877 | €234,002 | +€93,126 | +66.1% |
| Other operating charges | 640/8 | €10,162 | €109,187 | +€99,026 | +974.5% |
| Gross operating margin | 9900 | €565,607 | €1,073,227 | +€507,620 | +89.7% |
| Operating profit (loss) | 9901 | €275,876 | €345,491 | +€69,615 | +25.2% |
| Financial income | 75/76B | €7,858 | €463 | -€7,395 | -94.1% |
| Recurring financial income | 75 | €7,858 | €463 | -€7,395 | -94.1% |
| Financial charges | 65/66B | €7,271 | €17,643 | +€10,372 | +142.7% |
| Recurring financial charges | 65 | €7,271 | €17,643 | +€10,372 | +142.7% |
| Profit (loss) for the period before taxes | 9903 | €276,463 | €328,311 | +€51,848 | +18.8% |
| Income taxes | 67/77 | €81,066 | €106,356 | +€25,290 | +31.2% |
| Profit (loss) for the period | 9904 | €195,396 | €221,955 | +€26,558 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €195,396 | €221,955 | +€26,558 | +13.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.