GT MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year -€138,577
down €138,577 (-31.3%), from €443,274 to €304,697
of which Trade receivables: -€116,515
- Tangible fixed assets +€58,207
up €58,207 (+787.1%), from €7,395 to €65,602
of which Furniture and vehicles: +€55,263
- Current investments +€25,000
up €25,000 (+100.0%), from €25,000 to €50,000
- Tax, wage and social debts -€54,029
down €54,029 (-87.2%), from €61,929 to €7,900
- Reserves -€32,841
down €32,841 (-5.0%), from €654,065 to €621,224
- Other debts +€23,091
up €23,091 (+364.7%), from €6,331 to €29,422
- Gross operating margin -€59,506
down €59,506 (-24.1%), from €246,697 to €187,191
- Taxes -€20,612
down €20,612 (-26.3%), from €78,298 to €57,687
- Depreciation +€5,193
up €5,193 (+99.0%), from €5,248 to €10,441
- Financial income +€4,099
up €4,099 (+81651.6%), from €5 to €4,104
of which Non-recurring financial income: +€2,479
- Financial charges -€3,107
down €3,107 (-42.7%), from €7,272 to €4,165
of which Non-recurring financial charges: -€3,257
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 | €806,535 | €747,214 | -€59,321 | -7.4% |
| Fixed assets | 21/28 | €10,395 | €68,602 | +€58,207 | +559.9% |
| Tangible fixed assets | 22/27 | €7,395 | €65,602 | +€58,207 | +787.1% |
| Plant, machinery and equipment | 23 | €5,691 | €8,635 | +€2,944 | +51.7% |
| Furniture and vehicles | 24 | €1,704 | €56,967 | +€55,263 | +3243.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €796,139 | €678,612 | -€117,527 | -14.8% |
| Amounts receivable within one year | 40/41 | €443,274 | €304,697 | -€138,577 | -31.3% |
| Trade receivables | 40 | €326,354 | €209,839 | -€116,515 | -35.7% |
| Other amounts receivable | 41 | €116,920 | €94,858 | -€22,062 | -18.9% |
| Current investments | 50/53 | €25,000 | €50,000 | +€25,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €316,617 | €319,369 | +€2,752 | +0.9% |
| Deferred charges and accrued income | 490/1 | €11,249 | €4,546 | -€6,702 | -59.6% |
| Total equity and liabilities | 10/49 | €806,535 | €747,214 | -€59,321 | -7.4% |
| Equity | 10/15 | €654,065 | €621,224 | -€32,841 | -5.0% |
| Reserves | 13 | €654,065 | €621,224 | -€32,841 | -5.0% |
| Distributable reserves | 133 | €654,065 | €621,224 | -€32,841 | -5.0% |
| Amounts payable | 17/49 | €152,469 | €125,990 | -€26,479 | -17.4% |
| Amounts payable within one year | 42/48 | €152,469 | €125,990 | -€26,479 | -17.4% |
| Trade debts | 44 | €84,209 | €88,668 | +€4,459 | +5.3% |
| Suppliers | 440/4 | €84,209 | €88,668 | +€4,459 | +5.3% |
| Taxes, remuneration and social security | 45 | €61,929 | €7,900 | -€54,029 | -87.2% |
| Taxes | 450/3 | €61,929 | €7,900 | -€54,029 | -87.2% |
| Other amounts payable | 47/48 | €6,331 | €29,422 | +€23,091 | +364.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,248 | €10,441 | +€5,193 | +99.0% |
| Other operating charges | 640/8 | €1,072 | €620 | -€452 | -42.2% |
| Gross operating margin | 9900 | €246,697 | €187,191 | -€59,506 | -24.1% |
| Operating profit (loss) | 9901 | €240,377 | €176,130 | -€64,248 | -26.7% |
| Financial income | 75/76B | €5 | €4,104 | +€4,099 | +81651.6% |
| Recurring financial income | 75 | €5 | €1,625 | +€1,620 | +32262.4% |
| Non-recurring financial income | 76B | - | €2,479 | +€2,479 | |
| Financial charges | 65/66B | €7,272 | €4,165 | -€3,107 | -42.7% |
| Recurring financial charges | 65 | €3,872 | €4,021 | +€150 | +3.9% |
| Non-recurring financial charges | 66B | €3,400 | €143 | -€3,257 | -95.8% |
| Profit (loss) for the period before taxes | 9903 | €233,111 | €176,069 | -€57,042 | -24.5% |
| Income taxes | 67/77 | €78,298 | €57,687 | -€20,612 | -26.3% |
| Profit (loss) for the period | 9904 | €154,813 | €118,383 | -€36,430 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €154,813 | €118,383 | -€36,430 | -23.5% |
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 11 October 2026 via checked.be.