GTO: 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.
GTO
Largest movements
- Receivables within one year +€62,143
up €62,143 (+31.7%), from €195,936 to €258,079
of which Trade receivables: +€44,930
- Tangible fixed assets -€25,160
down €25,160 (-37.5%), from €67,005 to €41,844
of which Leasing and similar rights: -€18,700
- Cash -€6,607
down €6,607 (-98.0%), from €6,742 to €134
mainly Receivables within one year (-€62,143) and Tax, wage and social debts (-€29,151)
- Trade debts +€85,477
up €85,477 (+65.3%), from €130,934 to €216,411
- Tax, wage and social debts -€29,151
no longer reported in 2023 (was €29,151)
- Debts after one year -€18,786
down €18,786 (-44.5%), from €42,259 to €23,474
- Profit (loss) carried forward -€6,760
down €6,760 (-35.1%), from -€19,270 to -€26,029
- Gross operating margin -€12,332
down €12,332 (-31.3%), from €39,454 to €27,122
- Financial charges -€5,238
down €5,238 (-49.7%), from €10,532 to €5,294
- Other operating charges -€1,030
down €1,030 (-60.2%), from €1,711 to €681
- Depreciation -€1,001
down €1,001 (-3.5%), from €28,222 to €27,220
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €270,325 | €300,842 | +€30,517 | +11.3% |
| Fixed assets | 21/28 | €67,005 | €41,844 | -€25,160 | -37.5% |
| Tangible fixed assets | 22/27 | €67,005 | €41,844 | -€25,160 | -37.5% |
| Plant, machinery and equipment | 23 | €10,816 | €2,619 | -€8,197 | -75.8% |
| Furniture and vehicles | 24 | €88 | €1,826 | +€1,737 | +1,968% |
| Leasing and similar rights | 25 | €56,100 | €37,400 | -€18,700 | -33.3% |
| Current assets | 29/58 | €203,320 | €258,997 | +€55,677 | +27.4% |
| Amounts receivable within one year | 40/41 | €195,936 | €258,079 | +€62,143 | +31.7% |
| Trade receivables | 40 | €174,123 | €219,053 | +€44,930 | +25.8% |
| Other amounts receivable | 41 | €21,813 | €39,025 | +€17,213 | +78.9% |
| Cash at bank and in hand | 54/58 | €6,742 | €134 | -€6,607 | -98.0% |
| Deferred charges and accrued income | 490/1 | €642 | €784 | +€142 | +22.1% |
| Total equity and liabilities | 10/49 | €270,325 | €300,842 | +€30,517 | +11.3% |
| Equity | 10/15 | €48,930 | €42,171 | -€6,760 | -13.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,270 | -€26,029 | -€6,760 | -35.1% |
| Amounts payable | 17/49 | €221,394 | €258,671 | +€37,277 | +16.8% |
| Amounts payable after more than one year | 17 | €42,259 | €23,474 | -€18,786 | -44.5% |
| Financial debts | 170/4 | €42,259 | €23,474 | -€18,786 | -44.5% |
| Amounts payable within one year | 42/48 | €179,135 | €235,197 | +€56,063 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €19,050 | €18,786 | -€264 | -1.4% |
| Trade debts | 44 | €130,934 | €216,411 | +€85,477 | +65.3% |
| Suppliers | 440/4 | €130,934 | €216,411 | +€85,477 | +65.3% |
| Taxes, remuneration and social security | 45 | €29,151 | - | -€29,151 | |
| Remuneration and social security | 454/9 | €29,151 | - | -€29,151 | |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €832 | €687 | -€145 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,222 | €27,220 | -€1,001 | -3.5% |
| Other operating charges | 640/8 | €1,711 | €681 | -€1,030 | -60.2% |
| Gross operating margin | 9900 | €39,454 | €27,122 | -€12,332 | -31.3% |
| Operating profit (loss) | 9901 | €8,690 | -€1,466 | -€10,156 | |
| Financial income | 75/76B | €50 | €0 | -€49 | -99.7% |
| Recurring financial income | 75 | €50 | €0 | -€49 | -99.7% |
| Financial charges | 65/66B | €10,532 | €5,294 | -€5,238 | -49.7% |
| Recurring financial charges | 65 | €10,532 | €5,294 | -€5,238 | -49.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,792 | -€6,760 | -€4,968 | -277% |
| Profit (loss) for the period | 9904 | -€1,792 | -€6,760 | -€4,968 | -277% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,792 | -€6,760 | -€4,968 | -277% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.