GTO Finances: what changed
What changed
GTO Finances
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€66,760
2024 · -€173,813+€107,052
Equity
-€227,493
2024 · -€160,732-€66,760
Cash
€9,464
2024 · €8,113+€1,351
Balance sheet total
€1.1m
2024 · €1.1m-€72,617
Largest movements
Assets
- Tangible fixed assets -€48,875
down €48,875 (-4.4%), from €1.1m to €1.1m
- Receivables within one year -€20,864
down €20,864 (-89.6%), from €23,277 to €2,413
of which Trade receivables: -€18,963
Equity and liabilities
- Profit (loss) carried forward -€66,760
down €66,760 (-39.2%), from -€170,107 to -€236,868
- Trade debts -€12,399
down €12,399 (-26.9%), from €46,175 to €33,777
Income statement
- Other operating charges -€150,531
down €150,531 (-93.9%), from €160,276 to €9,746
- Gross operating margin -€72,251
down €72,251 (-69.3%), from €104,266 to €32,015
- Staff costs -€27,702
no longer reported in 2025 (was €27,702)
- Financial charges -€7,650
down €7,650 (-16.1%), from €47,638 to €39,988
- Depreciation +€6,410
up €6,410 (+15.1%), from €42,465 to €48,875
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€173,813
Gross operating margin
-€72,251
Staff costs
+€27,702
Depreciation
-€6,410
Other operating charges
+€150,531
Financial income
-€2
Financial charges
+€7,650
Taxes
-€167
Result 2025
-€66,760
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1,351
Investment
€0
Financing
€0
Cash 2024
€8,113
From operations (derived)
+€1,351
Net result for the year
-€66,760
Depreciation
+€48,875
Stocks and contracts
+€370
Receivables within one year
+€20,864
Deferred charges and accrued income
+€3,858
Trade debts
-€12,399
Advances received
-€4,200
Other debts
+€8,900
Accrued charges and deferred income
+€1,842
Cash 2025
€9,464
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,143,737 | €1,071,120 | -€72,617 | -6.3% |
| Fixed assets | 21/28 | €1,107,535 | €1,058,660 | -€48,875 | -4.4% |
| Tangible fixed assets | 22/27 | €1,107,535 | €1,058,660 | -€48,875 | -4.4% |
| Land and buildings | 22 | €1,107,535 | €1,058,660 | -€48,875 | -4.4% |
| Current assets | 29/58 | €36,202 | €12,460 | -€23,742 | -65.6% |
| Stocks and contracts in progress | 3 | €370 | - | -€370 | |
| Stocks | 30/36 | €370 | - | -€370 | |
| Amounts receivable within one year | 40/41 | €23,277 | €2,413 | -€20,864 | -89.6% |
| Trade receivables | 40 | €19,413 | €450 | -€18,963 | -97.7% |
| Other amounts receivable | 41 | €3,864 | €1,963 | -€1,901 | -49.2% |
| Cash at bank and in hand | 54/58 | €8,113 | €9,464 | +€1,351 | +16.6% |
| Deferred charges and accrued income | 490/1 | €4,442 | €584 | -€3,858 | -86.9% |
| Total equity and liabilities | 10/49 | €1,143,737 | €1,071,120 | -€72,617 | -6.3% |
| Equity | 10/15 | -€160,732 | -€227,493 | -€66,760 | -41.5% |
| Contributions | 10/11 | €6,200 | €7,210 | +€1,010 | +16.3% |
| Reserves | 13 | €3,175 | €2,165 | -€1,010 | -31.8% |
| Non-distributable reserves | 130/1 | €1,010 | - | -€1,010 | |
| Reserves not available under the articles | 1311 | €1,010 | - | -€1,010 | |
| Distributable reserves | 133 | €2,165 | €2,165 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,107 | -€236,868 | -€66,760 | -39.2% |
| Amounts payable | 17/49 | €1,304,469 | €1,298,613 | -€5,856 | -0.4% |
| Amounts payable after more than one year | 17 | €1,232,000 | €1,232,000 | = | 0.0% |
| Financial debts | 170/4 | €977,500 | €977,500 | = | 0.0% |
| Other amounts payable | 178/9 | €254,500 | €254,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €68,020 | €60,322 | -€7,699 | -11.3% |
| Trade debts | 44 | €46,175 | €33,777 | -€12,399 | -26.9% |
| Suppliers | 440/4 | €46,175 | €33,777 | -€12,399 | -26.9% |
| Advances received on contracts in progress | 46 | €4,200 | - | -€4,200 | |
| Other amounts payable | 47/48 | €17,645 | €26,545 | +€8,900 | +50.4% |
| Accrued charges and deferred income | 492/3 | €4,449 | €6,291 | +€1,842 | +41.4% |
| Non-recurring operating income | 76A | €42,300 | - | -€42,300 | |
| Remuneration, social security and pensions | 62 | €27,702 | - | -€27,702 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,465 | €48,875 | +€6,410 | +15.1% |
| Other operating charges | 640/8 | €160,276 | €9,746 | -€150,531 | -93.9% |
| Gross operating margin | 9900 | €104,266 | €32,015 | -€72,251 | -69.3% |
| Operating profit (loss) | 9901 | -€126,177 | -€26,606 | +€99,571 | +78.9% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €47,638 | €39,988 | -€7,650 | -16.1% |
| Recurring financial charges | 65 | €47,638 | €39,988 | -€7,650 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | -€173,813 | -€66,593 | +€107,220 | +61.7% |
| Income taxes | 67/77 | - | €167 | +€167 | |
| Profit (loss) for the period | 9904 | -€173,813 | -€66,760 | +€107,052 | +61.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€173,813 | -€66,760 | +€107,052 | +61.6% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.