GTOF: 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.
GTOF
Largest movements
- Receivables within one year +€285,586
up €285,586 (+187.8%), from €152,050 to €437,637
of which Other amounts receivable: +€265,181
- Tangible fixed assets -€14,941
down €14,941 (-49.3%), from €30,334 to €15,394
- Cash +€7,826
up €7,826 (+11.7%), from €66,912 to €74,738
mainly Net result for the year (+€129,767) and Trade debts (+€102,552)
- Profit (loss) carried forward +€129,767
up €129,767 (+77.0%), from -€168,442 to -€38,674
- Trade debts +€102,552
up €102,552 (+29.9%), from €342,931 to €445,483
- Tax, wage and social debts +€46,153
up €46,153 (+67.3%), from €68,606 to €114,759
- Gross operating margin +€123,740
up €123,740 (+555.2%), from €22,288 to €146,028
- Taxes -€1,539
no longer reported in 2024 (was €1,539)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €249,296 | €527,768 | +€278,472 | +111.7% |
| Fixed assets | 21/28 | €30,334 | €15,394 | -€14,941 | -49.3% |
| Tangible fixed assets | 22/27 | €30,334 | €15,394 | -€14,941 | -49.3% |
| Furniture and vehicles | 24 | €30,334 | €15,394 | -€14,941 | -49.3% |
| Current assets | 29/58 | €218,962 | €512,375 | +€293,412 | +134.0% |
| Amounts receivable within one year | 40/41 | €152,050 | €437,637 | +€285,586 | +187.8% |
| Trade receivables | 40 | - | €20,405 | +€20,405 | |
| Other amounts receivable | 41 | €152,050 | €417,231 | +€265,181 | +174.4% |
| Cash at bank and in hand | 54/58 | €66,912 | €74,738 | +€7,826 | +11.7% |
| Total equity and liabilities | 10/49 | €249,296 | €527,768 | +€278,472 | +111.7% |
| Equity | 10/15 | -€162,242 | -€32,474 | +€129,767 | +80.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€168,442 | -€38,674 | +€129,767 | +77.0% |
| Amounts payable | 17/49 | €411,538 | €560,242 | +€148,705 | +36.1% |
| Amounts payable within one year | 42/48 | €411,538 | €560,242 | +€148,705 | +36.1% |
| Trade debts | 44 | €342,931 | €445,483 | +€102,552 | +29.9% |
| Suppliers | 440/4 | €342,931 | €445,483 | +€102,552 | +29.9% |
| Taxes, remuneration and social security | 45 | €68,606 | €114,759 | +€46,153 | +67.3% |
| Taxes | 450/3 | €68,606 | €114,759 | +€46,153 | +67.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,941 | €14,941 | = | 0.0% |
| Other operating charges | 640/8 | €1,012 | €387 | -€624 | -61.7% |
| Non-recurring operating charges | 66A | €4,934 | €333 | -€4,601 | -93.3% |
| Gross operating margin | 9900 | €22,288 | €146,028 | +€123,740 | +555.2% |
| Operating profit (loss) | 9901 | €1,402 | €130,367 | +€128,965 | +9199.4% |
| Financial charges | 65/66B | €568 | €600 | +€31 | +5.5% |
| Recurring financial charges | 65 | €568 | €600 | +€31 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €834 | €129,767 | +€128,933 | +15465.8% |
| Income taxes | 67/77 | €1,539 | - | -€1,539 | |
| Profit (loss) for the period | 9904 | -€706 | €129,767 | +€130,473 | |
| Profit (loss) for the period to be appropriated | 9905 | -€706 | €129,767 | +€130,473 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.