GTN: 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.
GTN
Largest movements
- Receivables within one year -€4,206
down €4,206 (-57.9%), from €7,268 to €3,062
of which Trade receivables: -€3,308
- Cash +€3,684
up €3,684 (+219%), from €1,680 to €5,364
mainly Receivables within one year (+€4,206) and Other debts (+€2,212)
- Tangible fixed assets -€202
down €202 (-11.0%), from €1,836 to €1,634
- Other debts +€2,212
new in 2025: €2,212
- Reserves -€1,362
down €1,362 (-41.7%), from €3,263 to €1,901
- Tax, wage and social debts -€1,263
down €1,263 (-26.4%), from €4,792 to €3,529
of which Remuneration and social security: -€2,487
- Trade debts -€311
down €311 (-42.7%), from €729 to €418
- Gross operating margin -€592
down €592 (-25.1%), from €2,356 to €1,764
- Taxes -€186
down €186 (-19.3%), from €964 to €778
- Other operating charges +€66
up €66 (+17.1%), from €387 to €453
- Financial charges +€43
up €43 (+226%), from €19 to €62
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 | €10,784 | €10,060 | -€724 | -6.7% |
| Fixed assets | 21/28 | €1,836 | €1,634 | -€202 | -11.0% |
| Tangible fixed assets | 22/27 | €1,836 | €1,634 | -€202 | -11.0% |
| Other tangible fixed assets | 26 | €1,836 | €1,634 | -€202 | -11.0% |
| Current assets | 29/58 | €8,948 | €8,426 | -€522 | -5.8% |
| Amounts receivable within one year | 40/41 | €7,268 | €3,062 | -€4,206 | -57.9% |
| Trade receivables | 40 | €5,846 | €2,538 | -€3,308 | -56.6% |
| Other amounts receivable | 41 | €1,422 | €524 | -€898 | -63.2% |
| Cash at bank and in hand | 54/58 | €1,680 | €5,364 | +€3,684 | +219% |
| Total equity and liabilities | 10/49 | €10,784 | €10,060 | -€724 | -6.7% |
| Equity | 10/15 | €5,263 | €3,901 | -€1,362 | -25.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €3,263 | €1,901 | -€1,362 | -41.7% |
| Distributable reserves | 133 | €3,263 | €1,901 | -€1,362 | -41.7% |
| Amounts payable | 17/49 | €5,521 | €6,159 | +€638 | +11.6% |
| Amounts payable within one year | 42/48 | €5,521 | €6,159 | +€638 | +11.6% |
| Trade debts | 44 | €729 | €418 | -€311 | -42.7% |
| Suppliers | 440/4 | €729 | €418 | -€311 | -42.7% |
| Taxes, remuneration and social security | 45 | €4,792 | €3,529 | -€1,263 | -26.4% |
| Taxes | 450/3 | €2,305 | €3,529 | +€1,224 | +53.1% |
| Remuneration and social security | 454/9 | €2,487 | - | -€2,487 | |
| Other amounts payable | 47/48 | - | €2,212 | +€2,212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182 | €202 | +€20 | +11.0% |
| Other operating charges | 640/8 | €387 | €453 | +€66 | +17.1% |
| Gross operating margin | 9900 | €2,356 | €1,764 | -€592 | -25.1% |
| Operating profit (loss) | 9901 | €1,787 | €1,109 | -€678 | -37.9% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €19 | €62 | +€43 | +226% |
| Recurring financial charges | 65 | €19 | €62 | +€43 | +226% |
| Profit (loss) for the period before taxes | 9903 | €1,768 | €1,052 | -€716 | -40.5% |
| Income taxes | 67/77 | €964 | €778 | -€186 | -19.3% |
| Profit (loss) for the period | 9904 | €804 | €274 | -€530 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €804 | €274 | -€530 | -65.9% |
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 19 October 2026 via checked.be.