2GTR: 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.
2GTR
Largest movements
- Cash +€260,126
up €260,126 (+79.0%), from €329,291 to €589,417
mainly Debts after one year (+€1.3m) and Trade debts (+€919,299)
- Receivables within one year +€180,581
up €180,581 (+19.5%), from €928,389 to €1.1m
of which Trade receivables: +€188,886
- Tangible fixed assets -€54,550
down €54,550 (-22.2%), from €246,088 to €191,538
of which Furniture and vehicles: -€29,066
- Stocks and contracts +€46,204
up €46,204 (+73.8%), from €62,597 to €108,802
- Debts after one year +€1.3m
new in 2025: €1.3m
- Other debts -€1.2m
down €1.2m (-99.8%), from €1.2m to €2,012
- Trade debts +€919,299
up €919,299 (+151%), from €607,580 to €1.5m
- Profit (loss) carried forward -€506,128
down €506,128 (-102%), from -€494,025 to -€1.0m
- Accrued charges and deferred income -€48,897
down €48,897 (-71.8%), from €68,060 to €19,162
- Staff costs -€67,513
down €67,513 (-26.5%), from €254,322 to €186,809
- Gross operating margin -€62,366
down €62,366 (-494%), from -€12,620 to -€74,986
- Other operating charges +€36,587
up €36,587 (+6,493%), from €563 to €37,151
- Write-downs +€24,259
up €24,259 (+65.2%), from €37,202 to €61,461
- Financial income +€20,878
up €20,878 (+949%), from €2,200 to €23,079
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 | €1,569,366 | €2,001,727 | +€432,361 | +27.6% |
| Fixed assets | 21/28 | €249,088 | €194,538 | -€54,550 | -21.9% |
| Tangible fixed assets | 22/27 | €246,088 | €191,538 | -€54,550 | -22.2% |
| Plant, machinery and equipment | 23 | €193,901 | €168,417 | -€25,484 | -13.1% |
| Furniture and vehicles | 24 | €52,187 | €23,121 | -€29,066 | -55.7% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €1,320,278 | €1,807,189 | +€486,911 | +36.9% |
| Stocks and contracts in progress | 3 | €62,597 | €108,802 | +€46,204 | +73.8% |
| Stocks | 30/36 | €62,597 | €108,802 | +€46,204 | +73.8% |
| Amounts receivable within one year | 40/41 | €928,389 | €1,108,971 | +€180,581 | +19.5% |
| Trade receivables | 40 | €878,879 | €1,067,765 | +€188,886 | +21.5% |
| Other amounts receivable | 41 | €49,510 | €41,205 | -€8,305 | -16.8% |
| Cash at bank and in hand | 54/58 | €329,291 | €589,417 | +€260,126 | +79.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,569,366 | €2,001,727 | +€432,361 | +27.6% |
| Equity | 10/15 | -€466,565 | -€972,694 | -€506,128 | -108% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,860 | €8,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €7,000 | €8,860 | +€1,860 | +26.6% |
| Profit (loss) carried forward | 14 | -€494,025 | -€1,000,154 | -€506,128 | -102% |
| Amounts payable | 17/49 | €2,035,931 | €2,974,420 | +€938,489 | +46.1% |
| Amounts payable after more than one year | 17 | - | €1,308,652 | +€1.3m | |
| Financial debts | 170/4 | - | €1,308,652 | +€1.3m | |
| Amounts payable within one year | 42/48 | €1,967,872 | €1,646,606 | -€321,266 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €389 | €0 | -€389 | -100% |
| Trade debts | 44 | €607,580 | €1,526,878 | +€919,299 | +151% |
| Suppliers | 440/4 | €607,580 | €1,526,878 | +€919,299 | +151% |
| Taxes, remuneration and social security | 45 | €123,529 | €117,716 | -€5,813 | -4.7% |
| Taxes | 450/3 | €980 | €14,550 | +€13,570 | +1,385% |
| Remuneration and social security | 454/9 | €122,549 | €103,166 | -€19,383 | -15.8% |
| Other amounts payable | 47/48 | €1,236,374 | €2,012 | -€1.2m | -99.8% |
| Accrued charges and deferred income | 492/3 | €68,060 | €19,162 | -€48,897 | -71.8% |
| Remuneration, social security and pensions | 62 | €254,322 | €186,809 | -€67,513 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,226 | €59,740 | -€8,486 | -12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €37,202 | €61,461 | +€24,259 | +65.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €12,947 | +€12,947 | |
| Other operating charges | 640/8 | €563 | €37,151 | +€36,587 | +6,493% |
| Non-recurring operating charges | 66A | €10,837 | €31,177 | +€20,340 | +188% |
| Gross operating margin | 9900 | -€12,620 | -€74,986 | -€62,366 | -494% |
| Operating profit (loss) | 9901 | -€383,771 | -€464,270 | -€80,499 | -21.0% |
| Financial income | 75/76B | €2,200 | €23,079 | +€20,878 | +949% |
| Recurring financial income | 75 | €2,200 | €23,079 | +€20,878 | +949% |
| Financial charges | 65/66B | €74,231 | €63,812 | -€10,419 | -14.0% |
| Recurring financial charges | 65 | €74,231 | €63,812 | -€10,419 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | -€455,802 | -€505,004 | -€49,202 | -10.8% |
| Income taxes | 67/77 | €0 | €1,124 | +€1,124 | |
| Profit (loss) for the period | 9904 | -€455,802 | -€506,128 | -€50,326 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€455,802 | -€506,128 | -€50,326 | -11.0% |
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 24 October 2026 via checked.be.