GSFLT Consult: 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.
GSFLT Consult
Largest movements
- Current investments -€310,000
down €310,000 (-68.9%), from €450,059 to €140,059
- Tangible fixed assets -€124,498
down €124,498 (-3.3%), from €3.8m to €3.7m
of which Land and buildings: -€115,731
- Cash +€56,437
up €56,437 (+109.7%), from €51,441 to €107,878
mainly Net result for the year (+€704,117) and Current investments (+€310,000)
- Accrued charges and deferred income -€1.1m
down €1.1m (-66.0%), from €1.7m to €562,090
- Reserves +€636,364
up €636,364 (+26.7%), from €2.4m to €3.0m
- Profit (loss) carried forward +€67,753
up €67,753 (+112.8%), from €60,050 to €127,803
- Gross operating margin -€262,770
down €262,770 (-18.1%), from €1.5m to €1.2m
- Taxes -€44,336
down €44,336 (-12.4%), from €358,839 to €314,503
- Other operating charges -€41,048
down €41,048 (-89.3%), from €45,961 to €4,913
- Financial income -€31,346
down €31,346 (-82.4%), from €38,057 to €6,711
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.
Cash bridge derived
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 | €4,324,482 | €3,932,500 | -€391,982 | -9.1% |
| Fixed assets | 21/28 | €3,804,770 | €3,680,271 | -€124,498 | -3.3% |
| Tangible fixed assets | 22/27 | €3,804,770 | €3,680,271 | -€124,498 | -3.3% |
| Land and buildings | 22 | €3,780,321 | €3,664,590 | -€115,731 | -3.1% |
| Plant, machinery and equipment | 23 | €7,790 | €6,190 | -€1,600 | -20.5% |
| Furniture and vehicles | 24 | €16,659 | €8,977 | -€7,682 | -46.1% |
| Other tangible fixed assets | 26 | - | €514 | +€514 | |
| Current assets | 29/58 | €519,713 | €252,229 | -€267,484 | -51.5% |
| Amounts receivable within one year | 40/41 | €11,212 | €17 | -€11,195 | -99.9% |
| Trade receivables | 40 | €194 | €0 | -€194 | -100.0% |
| Other amounts receivable | 41 | €11,019 | €17 | -€11,002 | -99.8% |
| Current investments | 50/53 | €450,059 | €140,059 | -€310,000 | -68.9% |
| Cash at bank and in hand | 54/58 | €51,441 | €107,878 | +€56,437 | +109.7% |
| Deferred charges and accrued income | 490/1 | €7,001 | €4,275 | -€2,726 | -38.9% |
| Total equity and liabilities | 10/49 | €4,324,482 | €3,932,500 | -€391,982 | -9.1% |
| Equity | 10/15 | €2,593,198 | €3,297,315 | +€704,117 | +27.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,383,148 | €3,019,512 | +€636,364 | +26.7% |
| Distributable reserves | 133 | €2,383,148 | €3,019,512 | +€636,364 | +26.7% |
| Profit (loss) carried forward | 14 | €60,050 | €127,803 | +€67,753 | +112.8% |
| Amounts payable | 17/49 | €1,731,284 | €635,185 | -€1.1m | -63.3% |
| Amounts payable after more than one year | 17 | €2,304 | €2,589 | +€285 | +12.4% |
| Other amounts payable | 178/9 | €2,304 | €2,589 | +€285 | +12.4% |
| Amounts payable within one year | 42/48 | €77,396 | €70,506 | -€6,889 | -8.9% |
| Financial debts | 43 | €25 | €739 | +€715 | +2918.3% |
| Credit institutions | 430/8 | €25 | €739 | +€715 | +2918.3% |
| Trade debts | 44 | €8,952 | €6,817 | -€2,135 | -23.9% |
| Suppliers | 440/4 | €8,952 | €6,817 | -€2,135 | -23.9% |
| Advances received on contracts in progress | 46 | €500 | €500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €62,501 | €62,011 | -€490 | -0.8% |
| Taxes | 450/3 | €55,596 | €54,838 | -€757 | -1.4% |
| Remuneration and social security | 454/9 | €6,905 | €7,173 | +€268 | +3.9% |
| Other amounts payable | 47/48 | €5,418 | €439 | -€4,980 | -91.9% |
| Accrued charges and deferred income | 492/3 | €1,651,584 | €562,090 | -€1.1m | -66.0% |
| Non-recurring operating income | 76A | €290,358 | €3,667 | -€286,692 | -98.7% |
| Remuneration, social security and pensions | 62 | €37,625 | €39,043 | +€1,418 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,999 | €130,575 | -€4,424 | -3.3% |
| Other operating charges | 640/8 | €45,961 | €4,913 | -€41,048 | -89.3% |
| Non-recurring operating charges | 66A | - | €1,570 | +€1,570 | |
| Gross operating margin | 9900 | €1,451,582 | €1,188,811 | -€262,770 | -18.1% |
| Operating profit (loss) | 9901 | €1,232,996 | €1,012,709 | -€220,287 | -17.9% |
| Financial income | 75/76B | €38,057 | €6,711 | -€31,346 | -82.4% |
| Recurring financial income | 75 | €38,057 | €6,711 | -€31,346 | -82.4% |
| Financial charges | 65/66B | €2,953 | €800 | -€2,154 | -72.9% |
| Recurring financial charges | 65 | €2,953 | €800 | -€2,154 | -72.9% |
| Profit (loss) for the period before taxes | 9903 | €1,268,100 | €1,018,620 | -€249,480 | -19.7% |
| Income taxes | 67/77 | €358,839 | €314,503 | -€44,336 | -12.4% |
| Profit (loss) for the period | 9904 | €909,261 | €704,117 | -€205,144 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €909,261 | €704,117 | -€205,144 | -22.6% |
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 9 October 2026 via checked.be.