GSI: 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.
GSI
Largest movements
- Receivables within one year -€83,481
down €83,481 (-74.9%), from €111,440 to €27,959
of which Trade receivables: -€94,607
- Stocks and contracts +€20,596
up €20,596 (+1579.4%), from €1,304 to €21,900
- Trade debts -€63,571
down €63,571 (-54.8%), from €116,002 to €52,431
- Contributions -€15,000
no longer reported in 2024 (was €15,000)
- Reserves +€15,000
new in 2024: €15,000
- Profit (loss) carried forward +€1,271
up €1,271 (+7.0%), from -€18,258 to -€16,987
- Gross operating margin +€30,521
up €30,521, from -€8,354 to €22,167
- Turnover +€23,217
up €23,217 (+53.5%), from €43,424 to €66,641
- Purchases and services -€7,304
down €7,304 (-14.1%), from €51,778 to €44,474
From the 2021 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 | 2021 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,744 | €50,444 | -€62,300 | -55.3% |
| Current assets | 29/58 | €112,744 | €50,444 | -€62,300 | -55.3% |
| Stocks and contracts in progress | 3 | €1,304 | €21,900 | +€20,596 | +1579.4% |
| Stocks | 30/36 | €1,304 | €21,900 | +€20,596 | +1579.4% |
| Amounts receivable within one year | 40/41 | €111,440 | €27,959 | -€83,481 | -74.9% |
| Trade receivables | 40 | €94,607 | - | -€94,607 | |
| Other amounts receivable | 41 | €16,833 | €27,959 | +€11,126 | +66.1% |
| Cash at bank and in hand | 54/58 | - | €585 | +€585 | |
| Total equity and liabilities | 10/49 | €112,744 | €50,444 | -€62,300 | -55.3% |
| Equity | 10/15 | -€3,258 | -€1,987 | +€1,271 | +39.0% |
| Contributions | 10/11 | €15,000 | - | -€15,000 | |
| Capital | 10 | €15,000 | - | -€15,000 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €3,600 | - | -€3,600 | |
| Reserves | 13 | - | €15,000 | +€15,000 | |
| Non-distributable reserves | 130/1 | - | €15,000 | +€15,000 | |
| Reserves not available under the articles | 1311 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | -€18,258 | -€16,987 | +€1,271 | +7.0% |
| Amounts payable | 17/49 | €116,002 | €52,431 | -€63,571 | -54.8% |
| Amounts payable within one year | 42/48 | €116,002 | €52,431 | -€63,571 | -54.8% |
| Trade debts | 44 | €116,002 | €52,431 | -€63,571 | -54.8% |
| Suppliers | 440/4 | €116,002 | €52,431 | -€63,571 | -54.8% |
| Turnover | 70 | €43,424 | €66,641 | +€23,217 | +53.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €51,778 | €44,474 | -€7,304 | -14.1% |
| Gross operating margin | 9900 | -€8,354 | €22,167 | +€30,521 | |
| Operating profit (loss) | 9901 | -€8,354 | €22,167 | +€30,521 | |
| Financial charges | 65/66B | €1 | €126 | +€125 | +12500.0% |
| Recurring financial charges | 65 | €1 | €126 | +€125 | +12500.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,355 | €22,041 | +€30,396 | |
| Profit (loss) for the period | 9904 | -€8,355 | €22,041 | +€30,396 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,355 | €22,041 | +€30,396 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.