Gursten Velt: 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.
Gursten Velt
Largest movements
- Stocks and contracts +€26,890
up €26,890 (+16.0%), from €167,739 to €194,629
- Cash +€8,590
up €8,590 (+215%), from €3,990 to €12,580
mainly Other debts (+€132,044) and Net result for the year (+€10,216)
- Receivables within one year +€6,002
up €6,002 (+4.5%), from €132,878 to €138,880
of which Other amounts receivable: +€6,002
- Other debts +€132,044
up €132,044 (+71.4%), from €185,000 to €317,044
- Accrued charges and deferred income -€102,575
down €102,575 (-99.0%), from €103,575 to €1,000
- Profit (loss) carried forward +€10,216
up €10,216 (+4.4%), from -€234,468 to -€224,253
- Financial charges -€68,054
down €68,054 (-77.4%), from €87,892 to €19,838
- Financial income +€31,958
new in 2025: €31,958
- Gross operating margin +€2,529
up €2,529 (+66.1%), from -€3,824 to -€1,295
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 | €304,607 | €346,089 | +€41,482 | +13.6% |
| Current assets | 29/58 | €304,607 | €346,089 | +€41,482 | +13.6% |
| Stocks and contracts in progress | 3 | €167,739 | €194,629 | +€26,890 | +16.0% |
| Contracts in progress | 37 | €167,739 | €194,629 | +€26,890 | +16.0% |
| Amounts receivable within one year | 40/41 | €132,878 | €138,880 | +€6,002 | +4.5% |
| Trade receivables | 40 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 41 | €57,878 | €63,880 | +€6,002 | +10.4% |
| Cash at bank and in hand | 54/58 | €3,990 | €12,580 | +€8,590 | +215% |
| Total equity and liabilities | 10/49 | €304,607 | €346,089 | +€41,482 | +13.6% |
| Equity | 10/15 | €15,532 | €25,747 | +€10,216 | +65.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€234,468 | -€224,253 | +€10,216 | +4.4% |
| Amounts payable | 17/49 | €289,075 | €320,342 | +€31,267 | +10.8% |
| Amounts payable within one year | 42/48 | €185,500 | €319,342 | +€133,842 | +72.2% |
| Trade debts | 44 | €500 | €2,298 | +€1,798 | +360% |
| Suppliers | 440/4 | €500 | €2,298 | +€1,798 | +360% |
| Other amounts payable | 47/48 | €185,000 | €317,044 | +€132,044 | +71.4% |
| Accrued charges and deferred income | 492/3 | €103,575 | €1,000 | -€102,575 | -99.0% |
| Other operating charges | 640/8 | €595 | €610 | +€14 | +2.4% |
| Gross operating margin | 9900 | -€3,824 | -€1,295 | +€2,529 | +66.1% |
| Operating profit (loss) | 9901 | -€4,419 | -€1,905 | +€2,515 | +56.9% |
| Financial income | 75/76B | - | €31,958 | +€31,958 | |
| Recurring financial income | 75 | - | €31,958 | +€31,958 | |
| Financial charges | 65/66B | €87,892 | €19,838 | -€68,054 | -77.4% |
| Recurring financial charges | 65 | €87,892 | €19,838 | -€68,054 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | -€92,312 | €10,216 | +€102,527 | |
| Profit (loss) for the period | 9904 | -€92,312 | €10,216 | +€102,527 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,312 | €10,216 | +€102,527 |
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 23 October 2026 via checked.be.