GT ADVISORY: 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.
GT ADVISORY
Largest movements
- Receivables within one year +€75,528
up €75,528 (+449.1%), from €16,819 to €92,347
of which Trade receivables: +€75,528
- Cash -€39,801
down €39,801 (-25.5%), from €156,320 to €116,519
mainly Contributions, distributions and other (-€256,531) and Receivables within one year (-€75,528)
- Tangible fixed assets +€6,315
up €6,315 (+17.0%), from €37,148 to €43,463
of which Land and buildings: +€9,176
- Other debts +€217,476
up €217,476 (+7839.9%), from €2,774 to €220,250
- Reserves -€189,658
down €189,658 (-100.0%), from €189,658 to €0
- Tax, wage and social debts +€17,944
up €17,944 (+402.3%), from €4,460 to €22,405
- Trade debts -€5,946
down €5,946 (-53.3%), from €11,153 to €5,207
- Gross operating margin +€5,323
up €5,323 (+6.1%), from €86,989 to €92,312
- Depreciation +€2,259
up €2,259 (+107.2%), from €2,107 to €4,366
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 | €214,328 | €254,196 | +€39,868 | +18.6% |
| Fixed assets | 21/28 | €37,148 | €43,463 | +€6,315 | +17.0% |
| Tangible fixed assets | 22/27 | €37,148 | €43,463 | +€6,315 | +17.0% |
| Land and buildings | 22 | - | €9,176 | +€9,176 | |
| Plant, machinery and equipment | 23 | €6,111 | €5,495 | -€617 | -10.1% |
| Furniture and vehicles | 24 | €31,037 | €28,793 | -€2,244 | -7.2% |
| Current assets | 29/58 | €177,180 | €210,732 | +€33,553 | +18.9% |
| Amounts receivable within one year | 40/41 | €16,819 | €92,347 | +€75,528 | +449.1% |
| Trade receivables | 40 | €16,742 | €92,270 | +€75,528 | +451.1% |
| Other amounts receivable | 41 | €77 | €77 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €156,320 | €116,519 | -€39,801 | -25.5% |
| Deferred charges and accrued income | 490/1 | €4,040 | €1,866 | -€2,174 | -53.8% |
| Total equity and liabilities | 10/49 | €214,328 | €254,196 | +€39,868 | +18.6% |
| Equity | 10/15 | €194,658 | €5,000 | -€189,658 | -97.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €189,658 | €0 | -€189,658 | -100.0% |
| Distributable reserves | 133 | €189,658 | €0 | -€189,658 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €19,670 | €249,196 | +€229,525 | +1166.9% |
| Amounts payable within one year | 42/48 | €18,387 | €247,862 | +€229,474 | +1248.0% |
| Trade debts | 44 | €11,153 | €5,207 | -€5,946 | -53.3% |
| Suppliers | 440/4 | €11,153 | €5,207 | -€5,946 | -53.3% |
| Taxes, remuneration and social security | 45 | €4,460 | €22,405 | +€17,944 | +402.3% |
| Taxes | 450/3 | €4,460 | €22,405 | +€17,944 | +402.3% |
| Other amounts payable | 47/48 | €2,774 | €220,250 | +€217,476 | +7839.9% |
| Accrued charges and deferred income | 492/3 | €1,283 | €1,334 | +€51 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,107 | €4,366 | +€2,259 | +107.2% |
| Other operating charges | 640/8 | €508 | €516 | +€7 | +1.5% |
| Gross operating margin | 9900 | €86,989 | €92,312 | +€5,323 | +6.1% |
| Operating profit (loss) | 9901 | €84,374 | €87,430 | +€3,057 | +3.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €3,035 | €3,235 | +€200 | +6.6% |
| Recurring financial charges | 65 | €3,035 | €3,235 | +€200 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €81,339 | €84,195 | +€2,856 | +3.5% |
| Income taxes | 67/77 | €16,923 | €17,322 | +€399 | +2.4% |
| Profit (loss) for the period | 9904 | €64,416 | €66,873 | +€2,457 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €64,416 | €66,873 | +€2,457 | +3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.