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
- Tangible fixed assets -€8,086
down €8,086 (-3.5%), from €229,477 to €221,391
- Receivables within one year -€5,408
no longer reported in 2025 (was €5,408)
- Debts after one year -€17,998
down €17,998 (-16.9%), from €106,643 to €88,645
- Profit (loss) carried forward +€10,935
up €10,935 (+49.9%), from -€21,932 to -€10,997
- Provisions -€6,678
down €6,678 (-5.5%), from €120,870 to €114,192
- Trade debts -€3,053
down €3,053 (-77.8%), from €3,923 to €870
- Depreciation -€18,941
down €18,941 (-70.1%), from €27,027 to €8,086
- Gross operating margin +€7,123
up €7,123 (+42.7%), from €16,690 to €23,813
- Other operating charges -€2,217
down €2,217 (-60.1%), from €3,687 to €1,470
- Financial charges +€362
up €362 (+12.2%), from €2,970 to €3,332
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 | €236,973 | €222,470 | -€14,503 | -6.1% |
| Fixed assets | 21/28 | €229,477 | €221,391 | -€8,086 | -3.5% |
| Tangible fixed assets | 22/27 | €229,477 | €221,391 | -€8,086 | -3.5% |
| Land and buildings | 22 | €229,477 | €221,391 | -€8,086 | -3.5% |
| Current assets | 29/58 | €7,496 | €1,079 | -€6,417 | -85.6% |
| Amounts receivable within one year | 40/41 | €5,408 | - | -€5,408 | |
| Other amounts receivable | 41 | €5,408 | - | -€5,408 | |
| Cash at bank and in hand | 54/58 | €1,106 | €121 | -€985 | -89.1% |
| Deferred charges and accrued income | 490/1 | €982 | €958 | -€24 | -2.4% |
| Total equity and liabilities | 10/49 | €236,973 | €222,470 | -€14,503 | -6.1% |
| Equity | 10/15 | -€15,732 | -€4,797 | +€10,935 | +69.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,932 | -€10,997 | +€10,935 | +49.9% |
| Provisions and deferred taxes | 16 | €120,870 | €114,192 | -€6,678 | -5.5% |
| Provisions for liabilities and charges | 160/5 | €120,870 | €114,192 | -€6,678 | -5.5% |
| Other liabilities and charges | 164/5 | €120,870 | €114,192 | -€6,678 | -5.5% |
| Amounts payable | 17/49 | €131,835 | €113,075 | -€18,760 | -14.2% |
| Amounts payable after more than one year | 17 | €106,643 | €88,645 | -€17,998 | -16.9% |
| Other amounts payable | 178/9 | €106,643 | €88,645 | -€17,998 | -16.9% |
| Amounts payable within one year | 42/48 | €24,302 | €24,259 | -€43 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €20,165 | €20,882 | +€717 | +3.6% |
| Trade debts | 44 | €3,923 | €870 | -€3,053 | -77.8% |
| Suppliers | 440/4 | €3,923 | €870 | -€3,053 | -77.8% |
| Other amounts payable | 47/48 | €214 | €2,507 | +€2,293 | +1071.5% |
| Accrued charges and deferred income | 492/3 | €890 | €171 | -€719 | -80.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,027 | €8,086 | -€18,941 | -70.1% |
| Other operating charges | 640/8 | €3,687 | €1,470 | -€2,217 | -60.1% |
| Gross operating margin | 9900 | €16,690 | €23,813 | +€7,123 | +42.7% |
| Operating profit (loss) | 9901 | -€14,024 | €14,257 | +€28,281 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €2,970 | €3,332 | +€362 | +12.2% |
| Recurring financial charges | 65 | €2,970 | €3,332 | +€362 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,994 | €10,935 | +€27,929 | |
| Profit (loss) for the period | 9904 | -€16,994 | €10,935 | +€27,929 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,994 | €10,935 | +€27,929 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.