GT & Co: 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.
What changed
GT & Co
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.5m
2024 · €5.7m-€2.2m
Equity
€204.8m
2024 · €201.3m+€3.5m
Cash
€1.3m
2024 · €6.9m-€5.5m
Balance sheet total
€267.0m
2024 · €273.3m-€6.2m
Largest movements
Assets
- Financial fixed assets +€8.6m
up €8.6m (+4.2%), from €204.5m to €213.1m
of which Companies linked by participating interests: +€7.8m
- Current investments -€6.4m
down €6.4m (-75.1%), from €8.6m to €2.1m
- Stocks and contracts -€6.1m
down €6.1m (-100.0%), from €6.1m to €0
- Cash -€5.5m
down €5.5m (-80.4%), from €6.9m to €1.3m
mainly Other debts (-€9.0m) and Investment in fixed assets (net) (-€8.6m)
- Receivables after one year +€3.7m
up €3.7m (+8.4%), from €43.8m to €47.5m
Equity and liabilities
- Other debts -€9.0m
down €9.0m (-25.6%), from €35.0m to €26.0m
- Short-term financial debts -€4.7m
down €4.7m (-99.9%), from €4.7m to €2,467
- Debts after one year +€4.4m
up €4.4m (+13.8%), from €31.6m to €35.9m
- Reserves +€3.5m
up €3.5m (+1.7%), from €201.3m to €204.8m
Income statement
- Financial income -€4.4m
down €4.4m (-34.6%), from €12.8m to €8.3m
- Taxes +€337,974
up €337,974 (+91.3%), from €370,202 to €708,177
- Other operating income +€269,494
up €269,494 (+501.0%), from €53,795 to €323,289
- Financial charges -€199,065
down €199,065 (-4.1%), from €4.9m to €4.7m
of which Non-recurring financial charges: -€537,878
- Services and other goods -€101,397
down €101,397 (-5.0%), from €2.0m to €1.9m
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.
Result 2024
€5.7m
Turnover
+€92,442
Other operating income
+€269,494
Services and other goods
+€101,397
Depreciation
+€6,846
Other operating charges
-€2,858
Other operating items
+€1.9m
Financial income
-€4.4m
Financial charges
+€199,065
Taxes
-€337,974
Result 2025
€3.5m
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.
From operations
-€3.0m
Investment
-€2.2m
Financing
-€320,391
Cash 2024
€6.9m
From operations (derived)
-€3.0m
Net result for the year
+€3.5m
Depreciation
+€122,527
Receivables after one year
-€3.7m
Stocks and contracts
+€6.1m
Receivables within one year
+€355,633
Smaller working-capital items
+€1,177
Trade debts
-€92,632
Other debts
-€9.0m
Accrued charges and deferred income
-€323,275
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€8.6m
Current investments
+€6.4m
Financing
-€320,391
Debts after one year
+€4.4m
Short-term financial debts
-€4.7m
Cash 2025
€1.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €273,263,285 | €267,047,173 | -€6.2m | -2.3% |
| Fixed assets | 21/28 | €206,964,975 | €215,475,083 | +€8.5m | +4.1% |
| Tangible fixed assets | 22/27 | €2,459,379 | €2,336,852 | -€122,527 | -5.0% |
| Land and buildings | 22 | €2,451,591 | €2,336,852 | -€114,739 | -4.7% |
| Furniture and vehicles | 24 | €7,788 | €0 | -€7,788 | -100.0% |
| Financial fixed assets | 28 | €204,505,596 | €213,138,231 | +€8.6m | +4.2% |
| Affiliated companies | 280/1 | €84,785,324 | €84,785,324 | = | 0.0% |
| Participating interests | 280 | €84,785,324 | €84,785,324 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €29,428,385 | €37,224,847 | +€7.8m | +26.5% |
| Participating interests | 282 | €29,428,385 | €37,224,847 | +€7.8m | +26.5% |
| Other financial fixed assets | 284/8 | €90,291,887 | €91,128,061 | +€836,174 | +0.9% |
| Shares | 284 | €90,291,887 | €91,128,061 | +€836,174 | +0.9% |
| Current assets | 29/58 | €66,298,311 | €51,572,090 | -€14.7m | -22.2% |
| Amounts receivable after more than one year | 29 | €43,836,123 | €47,535,343 | +€3.7m | +8.4% |
| Other amounts receivable | 291 | €43,836,123 | €47,535,343 | +€3.7m | +8.4% |
| Stocks and contracts in progress | 3 | €6,129,090 | €0 | -€6.1m | -100.0% |
| Stocks | 30/36 | €6,129,090 | €0 | -€6.1m | -100.0% |
| Property held for sale | 35 | €6,129,090 | €0 | -€6.1m | -100.0% |
| Amounts receivable within one year | 40/41 | €911,607 | €555,974 | -€355,633 | -39.0% |
| Trade receivables | 40 | €75,564 | €60,517 | -€15,047 | -19.9% |
| Other amounts receivable | 41 | €836,042 | €495,456 | -€340,586 | -40.7% |
| Current investments | 50/53 | €8,550,983 | €2,127,980 | -€6.4m | -75.1% |
| Other investments | 51/53 | €8,550,983 | €2,127,980 | -€6.4m | -75.1% |
| Cash at bank and in hand | 54/58 | €6,850,931 | €1,345,279 | -€5.5m | -80.4% |
| Deferred charges and accrued income | 490/1 | €19,578 | €7,514 | -€12,064 | -61.6% |
| Total equity and liabilities | 10/49 | €273,263,285 | €267,047,173 | -€6.2m | -2.3% |
| Equity | 10/15 | €201,331,915 | €204,838,492 | +€3.5m | +1.7% |
| Contributions | 10/11 | €76,005 | €76,005 | = | 0.0% |
| Reserves | 13 | €201,255,910 | €204,762,487 | +€3.5m | +1.7% |
| Distributable reserves | 133 | €201,255,910 | €204,762,487 | +€3.5m | +1.7% |
| Amounts payable | 17/49 | €71,931,371 | €62,208,680 | -€9.7m | -13.5% |
| Amounts payable after more than one year | 17 | €31,582,798 | €35,935,237 | +€4.4m | +13.8% |
| Financial debts | 170/4 | €31,582,798 | €35,935,237 | +€4.4m | +13.8% |
| Other loans | 174 | €31,582,798 | €35,935,237 | +€4.4m | +13.8% |
| Amounts payable within one year | 42/48 | €40,025,297 | €26,273,443 | -€13.8m | -34.4% |
| Financial debts | 43 | €4,675,297 | €2,467 | -€4.7m | -99.9% |
| Credit institutions | 430/8 | €4,675,297 | €2,467 | -€4.7m | -99.9% |
| Trade debts | 44 | €319,954 | €227,322 | -€92,632 | -29.0% |
| Suppliers | 440/4 | €319,954 | €227,322 | -€92,632 | -29.0% |
| Taxes, remuneration and social security | 45 | €10,887 | €0 | -€10,887 | -100.0% |
| Taxes | 450/3 | €10,887 | €0 | -€10,887 | -100.0% |
| Other amounts payable | 47/48 | €35,019,159 | €26,043,654 | -€9.0m | -25.6% |
| Accrued charges and deferred income | 492/3 | €323,275 | €0 | -€323,275 | -100.0% |
| Operating income | 70/76A | €414,020 | €2,646,866 | +€2.2m | +539.3% |
| Turnover | 70 | €360,225 | €452,667 | +€92,442 | +25.7% |
| Other operating income | 74 | €53,795 | €323,289 | +€269,494 | +501.0% |
| Non-recurring operating income | 76A | €0 | €1,870,910 | +€1.9m | |
| Operating charges | 60/66A | €2,202,497 | €2,097,113 | -€105,384 | -4.8% |
| Services and other goods | 61 | €2,020,002 | €1,918,605 | -€101,397 | -5.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,373 | €122,527 | -€6,846 | -5.3% |
| Other operating charges | 640/8 | €53,122 | €55,981 | +€2,858 | +5.4% |
| Operating profit (loss) | 9901 | -€1,788,477 | €549,753 | +€2.3m | |
| Financial income | 75/76B | €12,752,566 | €8,338,489 | -€4.4m | -34.6% |
| Recurring financial income | 75 | €12,752,566 | €8,338,489 | -€4.4m | -34.6% |
| Income from financial fixed assets | 750 | €2,523,551 | €1,594,769 | -€928,782 | -36.8% |
| Income from current assets | 751 | €2,894,540 | €2,442,750 | -€451,790 | -15.6% |
| Other financial income | 752/9 | €7,334,475 | €4,300,970 | -€3.0m | -41.4% |
| Financial charges | 65/66B | €4,872,553 | €4,673,488 | -€199,065 | -4.1% |
| Recurring financial charges | 65 | €1,529,441 | €1,868,254 | +€338,813 | +22.2% |
| Debt charges | 650 | €826,456 | €778,472 | -€47,984 | -5.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €604,830 | €1,060,455 | +€455,625 | +75.3% |
| Other financial charges | 652/9 | €98,155 | €29,327 | -€68,828 | -70.1% |
| Non-recurring financial charges | 66B | €3,343,112 | €2,805,234 | -€537,878 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €6,091,536 | €4,214,754 | -€1.9m | -30.8% |
| Income taxes | 67/77 | €370,202 | €708,177 | +€337,974 | +91.3% |
| Taxes | 670/3 | €370,202 | €708,177 | +€337,974 | +91.3% |
| Profit (loss) for the period | 9904 | €5,721,334 | €3,506,577 | -€2.2m | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,721,334 | €3,506,577 | -€2.2m | -38.7% |
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.