gt-consult: 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.
gt-consult
Largest movements
- Cash -€340,273
down €340,273 (-66.9%), from €508,482 to €168,209
mainly Current investments (-€299,551) and Contributions, distributions and other (-€278,859)
- Current investments +€299,551
new in 2025: €299,551
- Tangible fixed assets +€144,772
up €144,772 (+48.9%), from €296,163 to €440,935
of which Land and buildings: +€139,559
- Receivables within one year -€51,410
down €51,410 (-23.5%), from €218,629 to €167,219
of which Trade receivables: -€49,032
- Other debts +€246,997
up €246,997 (+1,150%), from €21,470 to €268,467
- Profit (loss) carried forward -€182,059
down €182,059 (-100%), from €182,059 to €0
- Debts after one year -€32,675
down €32,675 (-48.6%), from €67,167 to €34,492
- Reserves +€29,465
up €29,465 (+4.4%), from €666,297 to €695,762
of which Tax-exempt reserves: +€50,520
- Provisions -€20,000
down €20,000 (-100%), from €20,000 to €0
- Gross operating margin -€64,709
down €64,709 (-23.1%), from €279,715 to €215,006
- Provisions -€20,000
new in 2025: -€20,000
- Taxes -€13,670
down €13,670 (-18.6%), from €73,570 to €59,900
- Financial income -€5,180
down €5,180 (-43.8%), from €11,819 to €6,639
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 | €1,051,944 | €1,107,672 | +€55,728 | +5.3% |
| Fixed assets | 21/28 | €306,377 | €450,935 | +€144,558 | +47.2% |
| Tangible fixed assets | 22/27 | €296,163 | €440,935 | +€144,772 | +48.9% |
| Land and buildings | 22 | €257,627 | €397,186 | +€139,559 | +54.2% |
| Plant, machinery and equipment | 23 | €4,442 | €3,830 | -€612 | -13.8% |
| Furniture and vehicles | 24 | €28,094 | €33,918 | +€5,825 | +20.7% |
| Other tangible fixed assets | 26 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €10,214 | €10,000 | -€214 | -2.1% |
| Current assets | 29/58 | €745,567 | €656,737 | -€88,830 | -11.9% |
| Amounts receivable within one year | 40/41 | €218,629 | €167,219 | -€51,410 | -23.5% |
| Trade receivables | 40 | €73,232 | €24,200 | -€49,032 | -67.0% |
| Other amounts receivable | 41 | €145,398 | €143,019 | -€2,379 | -1.6% |
| Current investments | 50/53 | - | €299,551 | +€299,551 | |
| Cash at bank and in hand | 54/58 | €508,482 | €168,209 | -€340,273 | -66.9% |
| Deferred charges and accrued income | 490/1 | €18,456 | €21,758 | +€3,302 | +17.9% |
| Total equity and liabilities | 10/49 | €1,051,944 | €1,107,672 | +€55,728 | +5.3% |
| Equity | 10/15 | €854,556 | €714,362 | -€140,194 | -16.4% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €666,297 | €695,762 | +€29,465 | +4.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €138,930 | €189,450 | +€50,520 | +36.4% |
| Distributable reserves | 133 | €525,507 | €504,452 | -€21,055 | -4.0% |
| Profit (loss) carried forward | 14 | €182,059 | €0 | -€182,059 | -100% |
| Provisions and deferred taxes | 16 | €20,000 | €0 | -€20,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €0 | -€20,000 | -100% |
| Major repairs and maintenance | 162 | €20,000 | €0 | -€20,000 | -100% |
| Amounts payable | 17/49 | €177,389 | €393,311 | +€215,922 | +122% |
| Amounts payable after more than one year | 17 | €67,167 | €34,492 | -€32,675 | -48.6% |
| Financial debts | 170/4 | €67,167 | €34,492 | -€32,675 | -48.6% |
| Amounts payable within one year | 42/48 | €110,221 | €358,819 | +€248,597 | +226% |
| Current portion of amounts payable after more than one year | 42 | €30,445 | €33,338 | +€2,893 | +9.5% |
| Trade debts | 44 | €576 | €10,825 | +€10,249 | +1,779% |
| Suppliers | 440/4 | €576 | €10,825 | +€10,249 | +1,779% |
| Taxes, remuneration and social security | 45 | €57,730 | €46,188 | -€11,542 | -20.0% |
| Taxes | 450/3 | €57,730 | €46,188 | -€11,542 | -20.0% |
| Other amounts payable | 47/48 | €21,470 | €268,467 | +€246,997 | +1,150% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €14,046 | +€14,046 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,420 | €35,309 | -€111 | -0.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€20,000 | -€20,000 | |
| Other operating charges | 640/8 | €1,220 | €1,373 | +€153 | +12.5% |
| Gross operating margin | 9900 | €279,715 | €215,006 | -€64,709 | -23.1% |
| Operating profit (loss) | 9901 | €243,075 | €198,325 | -€44,750 | -18.4% |
| Financial income | 75/76B | €11,819 | €6,639 | -€5,180 | -43.8% |
| Recurring financial income | 75 | €11,819 | €6,639 | -€5,180 | -43.8% |
| Financial charges | 65/66B | €6,593 | €6,399 | -€194 | -2.9% |
| Recurring financial charges | 65 | €3,215 | €6,399 | +€3,183 | +99.0% |
| Non-recurring financial charges | 66B | €3,378 | €0 | -€3,378 | -100% |
| Profit (loss) for the period before taxes | 9903 | €248,302 | €198,565 | -€49,737 | -20.0% |
| Income taxes | 67/77 | €73,570 | €59,900 | -€13,670 | -18.6% |
| Profit (loss) for the period | 9904 | €174,732 | €138,665 | -€36,067 | -20.6% |
| Transfer from tax-exempt reserves | 789 | €42,100 | €0 | -€42,100 | -100% |
| Transfer to tax-exempt reserves | 689 | €0 | €50,520 | +€50,520 | |
| Profit (loss) for the period to be appropriated | 9905 | €216,832 | €88,145 | -€128,687 | -59.3% |
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 29 October 2026 via checked.be.