GT EXPRESS: 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 EXPRESS
Largest movements
- Cash +€193,861
up €193,861 (+275.3%), from €70,425 to €264,285
mainly Net result for the year (+€180,846) and Current portion of long-term debt (+€85,201)
- Receivables within one year +€62,845
up €62,845 (+35.7%), from €176,133 to €238,978
- Deferred charges and accrued income +€27,281
up €27,281 (+1345.9%), from €2,027 to €29,308
- Financial fixed assets -€23,631
down €23,631 (-74.7%), from €31,631 to €8,000
- Profit (loss) carried forward +€180,846
up €180,846 (+202.3%), from €89,375 to €270,221
- Current portion of long-term debt +€85,201
up €85,201 (+476.2%), from €17,893 to €103,094
- Trade debts -€49,763
down €49,763 (-100.0%), from €49,785 to €22
- Tax, wage and social debts +€46,205
up €46,205 (+31.7%), from €145,665 to €191,869
of which Remuneration and social security: +€57,623
- Gross operating margin +€835,837
up €835,837 (+249.5%), from €335,052 to €1.2m
- Staff costs +€688,537
up €688,537 (+388.3%), from €177,333 to €865,871
- Taxes +€42,102
up €42,102 (+139.1%), from €30,258 to €72,359
- Write-downs -€17,228
no longer reported in 2025 (was €17,228)
- Depreciation +€11,768
up €11,768 (+42.1%), from €27,944 to €39,712
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 | €363,160 | €622,281 | +€259,122 | +71.4% |
| Fixed assets | 21/28 | €114,574 | €89,710 | -€24,865 | -21.7% |
| Tangible fixed assets | 22/27 | €82,943 | €81,710 | -€1,234 | -1.5% |
| Furniture and vehicles | 24 | €82,943 | €81,710 | -€1,234 | -1.5% |
| Financial fixed assets | 28 | €31,631 | €8,000 | -€23,631 | -74.7% |
| Current assets | 29/58 | €248,585 | €532,571 | +€283,986 | +114.2% |
| Amounts receivable within one year | 40/41 | €176,133 | €238,978 | +€62,845 | +35.7% |
| Trade receivables | 40 | €176,133 | €238,978 | +€62,845 | +35.7% |
| Cash at bank and in hand | 54/58 | €70,425 | €264,285 | +€193,861 | +275.3% |
| Deferred charges and accrued income | 490/1 | €2,027 | €29,308 | +€27,281 | +1345.9% |
| Total equity and liabilities | 10/49 | €363,160 | €622,281 | +€259,122 | +71.4% |
| Equity | 10/15 | €114,375 | €295,221 | +€180,846 | +158.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,375 | €270,221 | +€180,846 | +202.3% |
| Amounts payable | 17/49 | €248,785 | €327,060 | +€78,275 | +31.5% |
| Amounts payable after more than one year | 17 | €35,442 | €31,063 | -€4,379 | -12.4% |
| Financial debts | 170/4 | €35,442 | €31,063 | -€4,379 | -12.4% |
| Amounts payable within one year | 42/48 | €213,343 | €295,997 | +€82,654 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €17,893 | €103,094 | +€85,201 | +476.2% |
| Trade debts | 44 | €49,785 | €22 | -€49,763 | -100.0% |
| Suppliers | 440/4 | €49,785 | €22 | -€49,763 | -100.0% |
| Taxes, remuneration and social security | 45 | €145,665 | €191,869 | +€46,205 | +31.7% |
| Taxes | 450/3 | €78,425 | €67,006 | -€11,418 | -14.6% |
| Remuneration and social security | 454/9 | €67,240 | €124,863 | +€57,623 | +85.7% |
| Other amounts payable | 47/48 | - | €1,011 | +€1,011 | |
| Remuneration, social security and pensions | 62 | €177,333 | €865,871 | +€688,537 | +388.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,944 | €39,712 | +€11,768 | +42.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,228 | - | -€17,228 | |
| Other operating charges | 640/8 | €2,112 | €8,311 | +€6,199 | +293.6% |
| Gross operating margin | 9900 | €335,052 | €1,170,890 | +€835,837 | +249.5% |
| Operating profit (loss) | 9901 | €110,436 | €256,997 | +€146,561 | +132.7% |
| Financial charges | 65/66B | €3,731 | €3,791 | +€60 | +1.6% |
| Recurring financial charges | 65 | €3,731 | €3,791 | +€60 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €106,704 | €253,206 | +€146,501 | +137.3% |
| Income taxes | 67/77 | €30,258 | €72,359 | +€42,102 | +139.1% |
| Profit (loss) for the period | 9904 | €76,447 | €180,846 | +€104,399 | +136.6% |
| Profit (loss) for the period to be appropriated | 9905 | €76,447 | €180,846 | +€104,399 | +136.6% |
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 8 October 2026 via checked.be.