GTS: 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.
GTS
Largest movements
- Cash +€13,774
up €13,774 (+4,053%), from €340 to €14,114
mainly Net result for the year (+€12,857) and Receivables within one year (+€5,830)
- Receivables within one year -€5,830
down €5,830 (-31.2%), from €18,691 to €12,861
- Tangible fixed assets -€435
down €435 (-37.3%), from €1,166 to €731
- Profit (loss) carried forward +€12,857
up €12,857 (+39.3%), from -€32,747 to -€19,891
- Trade debts -€4,270
down €4,270 (-44.3%), from €9,648 to €5,379
- Other debts -€613
down €613 (-26.5%), from €2,312 to €1,698
- Tax, wage and social debts -€464
down €464 (-12.1%), from €3,820 to €3,356
- Gross operating margin +€22,035
up €22,035, from -€5,063 to €16,972
- Financial charges +€1,175
up €1,175 (+1,828%), from €64 to €1,239
- Other operating charges +€874
up €874 (+85.1%), from €1,027 to €1,902
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 | €20,197 | €27,706 | +€7,510 | +37.2% |
| Fixed assets | 21/28 | €1,166 | €731 | -€435 | -37.3% |
| Tangible fixed assets | 22/27 | €1,166 | €731 | -€435 | -37.3% |
| Plant, machinery and equipment | 23 | €1,166 | €731 | -€435 | -37.3% |
| Current assets | 29/58 | €19,031 | €26,975 | +€7,944 | +41.7% |
| Amounts receivable within one year | 40/41 | €18,691 | €12,861 | -€5,830 | -31.2% |
| Trade receivables | 40 | €18,691 | €12,861 | -€5,830 | -31.2% |
| Cash at bank and in hand | 54/58 | €340 | €14,114 | +€13,774 | +4,053% |
| Total equity and liabilities | 10/49 | €20,197 | €27,706 | +€7,510 | +37.2% |
| Equity | 10/15 | €4,417 | €17,274 | +€12,857 | +291% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,564 | €18,564 | = | 0.0% |
| Distributable reserves | 133 | €18,564 | €18,564 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,747 | -€19,891 | +€12,857 | +39.3% |
| Amounts payable | 17/49 | €15,780 | €10,433 | -€5,347 | -33.9% |
| Amounts payable within one year | 42/48 | €15,780 | €10,433 | -€5,347 | -33.9% |
| Trade debts | 44 | €9,648 | €5,379 | -€4,270 | -44.3% |
| Suppliers | 440/4 | €9,648 | €5,379 | -€4,270 | -44.3% |
| Taxes, remuneration and social security | 45 | €3,820 | €3,356 | -€464 | -12.1% |
| Taxes | 450/3 | €3,820 | €3,356 | -€464 | -12.1% |
| Other amounts payable | 47/48 | €2,312 | €1,698 | -€613 | -26.5% |
| Non-recurring operating income | 76A | - | €17,145 | +€17,145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €435 | €435 | = | 0.0% |
| Other operating charges | 640/8 | €1,027 | €1,902 | +€874 | +85.1% |
| Gross operating margin | 9900 | -€5,063 | €16,972 | +€22,035 | |
| Operating profit (loss) | 9901 | -€6,525 | €14,635 | +€21,160 | |
| Financial charges | 65/66B | €64 | €1,239 | +€1,175 | +1,828% |
| Recurring financial charges | 65 | €64 | €1,239 | +€1,175 | +1,828% |
| Profit (loss) for the period before taxes | 9903 | -€6,589 | €13,397 | +€19,986 | |
| Income taxes | 67/77 | €450 | €540 | +€90 | +20.1% |
| Profit (loss) for the period | 9904 | -€7,039 | €12,857 | +€19,895 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,039 | €12,857 | +€19,895 |
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 29 October 2026 via checked.be.