GTES: 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.
GTES
Largest movements
- Tangible fixed assets +€31,833
up €31,833 (+125.5%), from €25,360 to €57,193
of which Furniture and vehicles: +€37,998
- Receivables within one year -€26,866
down €26,866 (-88.4%), from €30,386 to €3,520
of which Trade receivables: -€25,400
- Cash +€22,799
up €22,799 (+1059.2%), from €2,152 to €24,951
mainly Receivables within one year (+€26,866) and Depreciation (+€20,783)
- Debts after one year +€13,742
up €13,742 (+180.3%), from €7,623 to €21,365
- Current portion of long-term debt +€9,257
up €9,257 (+138.8%), from €6,668 to €15,926
- Reserves +€6,839
up €6,839 (+29.7%), from €23,003 to €29,842
- Accrued charges and deferred income -€6,143
down €6,143 (-71.4%), from €8,605 to €2,462
- Other debts +€4,491
up €4,491 (+65.5%), from €6,859 to €11,349
- Financial income +€13,430
up €13,430 (+1317.7%), from €1,019 to €14,449
of which Non-recurring financial income: +€14,100
- Gross operating margin +€10,932
up €10,932 (+125.0%), from €8,742 to €19,673
- Depreciation +€7,509
up €7,509 (+56.6%), from €13,274 to €20,783
- Financial charges +€2,503
up €2,503 (+251.7%), from €995 to €3,498
- Other operating charges -€863
down €863 (-58.0%), from €1,487 to €624
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 | €67,024 | €94,148 | +€27,124 | +40.5% |
| Fixed assets | 21/28 | €25,360 | €57,193 | +€31,833 | +125.5% |
| Tangible fixed assets | 22/27 | €25,360 | €57,193 | +€31,833 | +125.5% |
| Land and buildings | 22 | €575 | €436 | -€139 | -24.2% |
| Plant, machinery and equipment | 23 | €7,113 | €9,088 | +€1,975 | +27.8% |
| Furniture and vehicles | 24 | €7,392 | €45,390 | +€37,998 | +514.0% |
| Leasing and similar rights | 25 | €10,279 | €2,279 | -€8,000 | -77.8% |
| Current assets | 29/58 | €41,664 | €36,955 | -€4,709 | -11.3% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €30,386 | €3,520 | -€26,866 | -88.4% |
| Trade receivables | 40 | €25,400 | - | -€25,400 | |
| Other amounts receivable | 41 | €4,986 | €3,520 | -€1,466 | -29.4% |
| Current investments | 50/53 | €4,300 | €4,300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,152 | €24,951 | +€22,799 | +1059.2% |
| Deferred charges and accrued income | 490/1 | €1,826 | €1,184 | -€641 | -35.1% |
| Total equity and liabilities | 10/49 | €67,024 | €94,148 | +€27,124 | +40.5% |
| Equity | 10/15 | €29,203 | €36,042 | +€6,839 | +23.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €23,003 | €29,842 | +€6,839 | +29.7% |
| Distributable reserves | 133 | €23,003 | €29,842 | +€6,839 | +29.7% |
| Amounts payable | 17/49 | €37,821 | €58,107 | +€20,286 | +53.6% |
| Amounts payable after more than one year | 17 | €7,623 | €21,365 | +€13,742 | +180.3% |
| Financial debts | 170/4 | €7,623 | €21,365 | +€13,742 | +180.3% |
| Amounts payable within one year | 42/48 | €21,593 | €34,279 | +€12,687 | +58.8% |
| Current portion of amounts payable after more than one year | 42 | €6,668 | €15,926 | +€9,257 | +138.8% |
| Trade debts | 44 | €7,850 | €6,291 | -€1,559 | -19.9% |
| Suppliers | 440/4 | €7,850 | €6,291 | -€1,559 | -19.9% |
| Taxes, remuneration and social security | 45 | €216 | €713 | +€498 | +230.5% |
| Taxes | 450/3 | €216 | €713 | +€498 | +230.5% |
| Other amounts payable | 47/48 | €6,859 | €11,349 | +€4,491 | +65.5% |
| Accrued charges and deferred income | 492/3 | €8,605 | €2,462 | -€6,143 | -71.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,274 | €20,783 | +€7,509 | +56.6% |
| Other operating charges | 640/8 | €1,487 | €624 | -€863 | -58.0% |
| Non-recurring operating charges | 66A | €446 | - | -€446 | |
| Gross operating margin | 9900 | €8,742 | €19,673 | +€10,932 | +125.0% |
| Operating profit (loss) | 9901 | -€6,465 | -€1,733 | +€4,731 | +73.2% |
| Financial income | 75/76B | €1,019 | €14,449 | +€13,430 | +1317.7% |
| Recurring financial income | 75 | €1,019 | €349 | -€670 | -65.7% |
| Non-recurring financial income | 76B | - | €14,100 | +€14,100 | |
| Financial charges | 65/66B | €995 | €3,498 | +€2,503 | +251.7% |
| Recurring financial charges | 65 | €995 | €3,498 | +€2,503 | +251.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,440 | €9,218 | +€15,658 | |
| Income taxes | 67/77 | €216 | €713 | +€498 | +230.5% |
| Profit (loss) for the period | 9904 | -€6,656 | €8,505 | +€15,161 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,656 | €8,505 | +€15,161 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.