GSK-PROJECTEN: 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.
GSK-PROJECTEN
Largest movements
- Cash -€249,608
down €249,608 (-97.0%), from €257,216 to €7,608
mainly Current portion of long-term debt (-€125,000) and Tax, wage and social debts (-€88,622)
- Receivables within one year +€12,216
up €12,216 (+36.2%), from €33,725 to €45,941
of which Trade receivables: +€19,636
- Financial fixed assets -€9,300
down €9,300 (-50.0%), from €18,600 to €9,300
- Current portion of long-term debt -€125,000
no longer reported in 2025 (was €125,000)
- Tax, wage and social debts -€88,622
down €88,622 (-93.9%), from €94,416 to €5,794
- Other debts -€25,000
no longer reported in 2025 (was €25,000)
- Trade debts -€7,569
down €7,569 (-81.9%), from €9,241 to €1,671
- Gross operating margin -€51,334
down €51,334 (-80.6%), from €63,688 to €12,355
- Financial charges -€25,413
down €25,413 (-76.8%), from €33,095 to €7,682
- Taxes -€9,149
down €9,149 (-89.6%), from €10,214 to €1,064
- Financial income -€7,062
down €7,062 (-89.0%), from €7,938 to €877
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 | €310,526 | €66,083 | -€244,443 | -78.7% |
| Fixed assets | 21/28 | €19,585 | €12,516 | -€7,069 | -36.1% |
| Tangible fixed assets | 22/27 | €985 | €3,216 | +€2,231 | +227% |
| Land and buildings | 22 | - | €3,216 | +€3,216 | |
| Furniture and vehicles | 24 | €985 | - | -€985 | |
| Financial fixed assets | 28 | €18,600 | €9,300 | -€9,300 | -50.0% |
| Current assets | 29/58 | €290,941 | €53,567 | -€237,374 | -81.6% |
| Amounts receivable within one year | 40/41 | €33,725 | €45,941 | +€12,216 | +36.2% |
| Trade receivables | 40 | €7,339 | €26,975 | +€19,636 | +268% |
| Other amounts receivable | 41 | €26,386 | €18,965 | -€7,421 | -28.1% |
| Cash at bank and in hand | 54/58 | €257,216 | €7,608 | -€249,608 | -97.0% |
| Deferred charges and accrued income | 490/1 | - | €19 | +€19 | |
| Total equity and liabilities | 10/49 | €310,526 | €66,083 | -€244,443 | -78.7% |
| Equity | 10/15 | €56,870 | €58,618 | +€1,748 | +3.1% |
| Contributions | 10/11 | €10,173 | €10,173 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,837 | €46,585 | +€1,748 | +3.9% |
| Amounts payable | 17/49 | €253,656 | €7,465 | -€246,191 | -97.1% |
| Amounts payable within one year | 42/48 | €253,656 | €7,465 | -€246,191 | -97.1% |
| Current portion of amounts payable after more than one year | 42 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €9,241 | €1,671 | -€7,569 | -81.9% |
| Suppliers | 440/4 | €9,241 | €1,671 | -€7,569 | -81.9% |
| Taxes, remuneration and social security | 45 | €94,416 | €5,794 | -€88,622 | -93.9% |
| Taxes | 450/3 | €94,416 | €5,794 | -€88,622 | -93.9% |
| Other amounts payable | 47/48 | €25,000 | - | -€25,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,156 | €1,789 | +€633 | +54.7% |
| Other operating charges | 640/8 | €462 | €948 | +€486 | +105% |
| Gross operating margin | 9900 | €63,688 | €12,355 | -€51,334 | -80.6% |
| Operating profit (loss) | 9901 | €62,070 | €9,618 | -€52,452 | -84.5% |
| Financial income | 75/76B | €7,938 | €877 | -€7,062 | -89.0% |
| Recurring financial income | 75 | €7,938 | €877 | -€7,062 | -89.0% |
| Financial charges | 65/66B | €33,095 | €7,682 | -€25,413 | -76.8% |
| Recurring financial charges | 65 | €33,095 | €7,682 | -€25,413 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | €36,914 | €2,812 | -€34,102 | -92.4% |
| Income taxes | 67/77 | €10,214 | €1,064 | -€9,149 | -89.6% |
| Profit (loss) for the period | 9904 | €26,700 | €1,748 | -€24,952 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,700 | €1,748 | -€24,952 | -93.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.