GT59: 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.
GT59
Largest movements
- Financial fixed assets +€61,682
up €61,682 (+9.8%), from €630,578 to €692,260
- Cash -€24,612
down €24,612 (-45.5%), from €54,107 to €29,495
mainly Investment in fixed assets (net) (-€68,913) and Debts after one year (-€30,000)
- Reserves +€89,016
up €89,016 (+58.0%), from €153,454 to €242,470
- Debts after one year -€30,000
down €30,000 (-7.3%), from €412,227 to €382,227
of which Other amounts payable: -€30,000
- Tax, wage and social debts -€24,483
down €24,483 (-44.8%), from €54,633 to €30,150
- Current portion of long-term debt -€22,025
down €22,025 (-100.0%), from €22,025 to €0
- Other debts +€17,902
up €17,902 (+23.2%), from €77,152 to €95,054
- Financial income +€61,712
up €61,712 (+104667.9%), from €59 to €61,771
of which Non-recurring financial income: +€61,682
- Gross operating margin -€27,309
down €27,309 (-25.8%), from €105,814 to €78,505
- Taxes +€10,241
up €10,241 (+47.0%), from €21,808 to €32,049
- Financial charges -€3,371
down €3,371 (-28.4%), from €11,855 to €8,484
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 | €730,939 | €758,989 | +€28,050 | +3.8% |
| Fixed assets | 21/28 | €656,410 | €715,185 | +€58,775 | +9.0% |
| Tangible fixed assets | 22/27 | €25,832 | €22,925 | -€2,907 | -11.3% |
| Plant, machinery and equipment | 23 | €2,097 | €1,639 | -€457 | -21.8% |
| Furniture and vehicles | 24 | €4,478 | €4,757 | +€279 | +6.2% |
| Other tangible fixed assets | 26 | €19,257 | €16,528 | -€2,728 | -14.2% |
| Financial fixed assets | 28 | €630,578 | €692,260 | +€61,682 | +9.8% |
| Current assets | 29/58 | €74,529 | €43,804 | -€30,726 | -41.2% |
| Amounts receivable within one year | 40/41 | €18,870 | €12,705 | -€6,165 | -32.7% |
| Trade receivables | 40 | €13,165 | €12,705 | -€460 | -3.5% |
| Other amounts receivable | 41 | €5,705 | €0 | -€5,705 | -100.0% |
| Cash at bank and in hand | 54/58 | €54,107 | €29,495 | -€24,612 | -45.5% |
| Deferred charges and accrued income | 490/1 | €1,552 | €1,604 | +€51 | +3.3% |
| Total equity and liabilities | 10/49 | €730,939 | €758,989 | +€28,050 | +3.8% |
| Equity | 10/15 | €154,454 | €243,470 | +€89,016 | +57.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €153,454 | €242,470 | +€89,016 | +58.0% |
| Distributable reserves | 133 | €153,454 | €242,470 | +€89,016 | +58.0% |
| Amounts payable | 17/49 | €576,485 | €515,519 | -€60,966 | -10.6% |
| Amounts payable after more than one year | 17 | €412,227 | €382,227 | -€30,000 | -7.3% |
| Financial debts | 170/4 | €150,000 | €150,000 | = | 0.0% |
| Other amounts payable | 178/9 | €262,227 | €232,227 | -€30,000 | -11.4% |
| Amounts payable within one year | 42/48 | €156,407 | €127,565 | -€28,842 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €22,025 | €0 | -€22,025 | -100.0% |
| Trade debts | 44 | €2,597 | €2,362 | -€235 | -9.1% |
| Suppliers | 440/4 | €2,597 | €2,362 | -€235 | -9.1% |
| Taxes, remuneration and social security | 45 | €54,633 | €30,150 | -€24,483 | -44.8% |
| Taxes | 450/3 | €54,633 | €30,150 | -€24,483 | -44.8% |
| Other amounts payable | 47/48 | €77,152 | €95,054 | +€17,902 | +23.2% |
| Accrued charges and deferred income | 492/3 | €7,852 | €5,727 | -€2,125 | -27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,920 | €10,138 | +€219 | +2.2% |
| Other operating charges | 640/8 | €944 | €589 | -€356 | -37.7% |
| Gross operating margin | 9900 | €105,814 | €78,505 | -€27,309 | -25.8% |
| Operating profit (loss) | 9901 | €94,950 | €67,778 | -€27,172 | -28.6% |
| Financial income | 75/76B | €59 | €61,771 | +€61,712 | +104667.9% |
| Recurring financial income | 75 | €59 | €89 | +€30 | +51.2% |
| Non-recurring financial income | 76B | - | €61,682 | +€61,682 | |
| Financial charges | 65/66B | €11,855 | €8,484 | -€3,371 | -28.4% |
| Recurring financial charges | 65 | €11,855 | €8,484 | -€3,371 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €83,154 | €121,065 | +€37,911 | +45.6% |
| Income taxes | 67/77 | €21,808 | €32,049 | +€10,241 | +47.0% |
| Profit (loss) for the period | 9904 | €61,346 | €89,016 | +€27,670 | +45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,346 | €89,016 | +€27,670 | +45.1% |
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 10 October 2026 via checked.be.