GZK: 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.
GZK
Largest movements
- Receivables within one year -€16,073
down €16,073 (-31.7%), from €50,739 to €34,666
of which Other amounts receivable: -€11,790
- Cash +€7,683
up €7,683 (+1253.7%), from €613 to €8,296
mainly Receivables within one year (+€16,073) and Net result for the year (+€8,539)
- Current portion of long-term debt -€12,865
down €12,865 (-4.1%), from €316,500 to €303,635
- Profit (loss) carried forward +€8,539
up €8,539 (+8.1%), from -€105,280 to -€96,741
- Other debts -€7,604
down €7,604 (-15.5%), from €49,149 to €41,545
- Financial charges -€32,794
down €32,794 (-99.8%), from €32,848 to €54
- Gross operating margin +€23,228
up €23,228, from -€12,946 to €10,283
- Purchases and services +€9,841
new in 2025: €9,841
- Financial income -€3,439
down €3,439 (-100.0%), from €3,440 to €1
- Other operating charges -€2,122
down €2,122 (-55.7%), from €3,813 to €1,690
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.
Cash bridge derived
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 | €511,254 | €503,361 | -€7,893 | -1.5% |
| Current assets | 29/58 | €511,254 | €503,361 | -€7,893 | -1.5% |
| Stocks and contracts in progress | 3 | €459,703 | €459,703 | = | 0.0% |
| Stocks | 30/36 | €459,703 | €459,703 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,739 | €34,666 | -€16,073 | -31.7% |
| Trade receivables | 40 | €9,283 | €5,000 | -€4,283 | -46.1% |
| Other amounts receivable | 41 | €41,457 | €29,666 | -€11,790 | -28.4% |
| Cash at bank and in hand | 54/58 | €613 | €8,296 | +€7,683 | +1253.7% |
| Deferred charges and accrued income | 490/1 | €199 | €696 | +€497 | +249.9% |
| Total equity and liabilities | 10/49 | €511,254 | €503,361 | -€7,893 | -1.5% |
| Equity | 10/15 | €144,970 | €153,509 | +€8,539 | +5.9% |
| Contributions | 10/11 | €250,250 | €250,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,280 | -€96,741 | +€8,539 | +8.1% |
| Amounts payable | 17/49 | €366,284 | €349,852 | -€16,432 | -4.5% |
| Amounts payable within one year | 42/48 | €366,284 | €349,852 | -€16,432 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €316,500 | €303,635 | -€12,865 | -4.1% |
| Trade debts | 44 | €635 | €4,672 | +€4,037 | +635.4% |
| Suppliers | 440/4 | €635 | €4,672 | +€4,037 | +635.4% |
| Other amounts payable | 47/48 | €49,149 | €41,545 | -€7,604 | -15.5% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €9,841 | +€9,841 | |
| Other operating charges | 640/8 | €3,813 | €1,690 | -€2,122 | -55.7% |
| Gross operating margin | 9900 | -€12,946 | €10,283 | +€23,228 | |
| Operating profit (loss) | 9901 | -€16,758 | €8,592 | +€25,350 | |
| Financial income | 75/76B | €3,440 | €1 | -€3,439 | -100.0% |
| Recurring financial income | 75 | €3,440 | €1 | -€3,439 | -100.0% |
| Financial charges | 65/66B | €32,848 | €54 | -€32,794 | -99.8% |
| Recurring financial charges | 65 | €32,848 | €54 | -€32,794 | -99.8% |
| Profit (loss) for the period before taxes | 9903 | -€46,166 | €8,539 | +€54,705 | |
| Profit (loss) for the period | 9904 | -€46,166 | €8,539 | +€54,705 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,166 | €8,539 | +€54,705 |
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 10 October 2026 via checked.be.