GSTC: 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.
GSTC
Largest movements
- Cash +€16,352
up €16,352 (+8,260%), from €198 to €16,550
mainly Trade debts (+€20,226) and Other debts (+€5,348)
- Receivables within one year +€3,559
up €3,559 (+12.0%), from €29,564 to €33,123
of which Trade receivables: +€14,869
- Tangible fixed assets -€2,921
down €2,921 (-87.3%), from €3,346 to €425
of which Furniture and vehicles: -€3,167
- Trade debts +€20,226
up €20,226 (+189%), from €10,691 to €30,917
- Profit (loss) carried forward -€7,599
down €7,599 (-36.9%), from €20,595 to €12,996
- Other debts +€5,348
new in 2025: €5,348
- Short-term financial debts -€927
no longer reported in 2025 (was €927)
- Tax, wage and social debts -€607
down €607 (-75.7%), from €802 to €195
- Gross operating margin -€17,084
down €17,084, from €15,480 to -€1,603
- Depreciation -€4,468
down €4,468 (-93.6%), from €4,772 to €304
- Financial charges +€722
up €722 (+73.2%), from €986 to €1,707
- Other operating charges +€456
up €456 (+176%), from €259 to €716
- Taxes +€195
new in 2025: €195
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 | €39,221 | €55,662 | +€16,440 | +41.9% |
| Fixed assets | 21/28 | €6,847 | €3,376 | -€3,471 | -50.7% |
| Intangible fixed assets | 21 | €3,401 | €2,851 | -€550 | -16.2% |
| Tangible fixed assets | 22/27 | €3,346 | €425 | -€2,921 | -87.3% |
| Plant, machinery and equipment | 23 | €179 | €425 | +€245 | +137% |
| Furniture and vehicles | 24 | €3,167 | - | -€3,167 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €32,375 | €52,286 | +€19,912 | +61.5% |
| Stocks and contracts in progress | 3 | €2,613 | €2,613 | = | 0.0% |
| Stocks | 30/36 | €2,613 | €2,613 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €29,564 | €33,123 | +€3,559 | +12.0% |
| Trade receivables | 40 | €17,539 | €32,407 | +€14,869 | +84.8% |
| Other amounts receivable | 41 | €12,025 | €715 | -€11,310 | -94.1% |
| Cash at bank and in hand | 54/58 | €198 | €16,550 | +€16,352 | +8,260% |
| Total equity and liabilities | 10/49 | €39,221 | €55,662 | +€16,440 | +41.9% |
| Equity | 10/15 | €26,801 | €19,202 | -€7,599 | -28.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6 | €6 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6 | €6 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6 | €6 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,595 | €12,996 | -€7,599 | -36.9% |
| Amounts payable | 17/49 | €12,420 | €36,460 | +€24,040 | +194% |
| Amounts payable within one year | 42/48 | €12,420 | €36,460 | +€24,040 | +194% |
| Financial debts | 43 | €927 | - | -€927 | |
| Credit institutions | 430/8 | €927 | - | -€927 | |
| Trade debts | 44 | €10,691 | €30,917 | +€20,226 | +189% |
| Suppliers | 440/4 | €10,691 | €30,917 | +€20,226 | +189% |
| Taxes, remuneration and social security | 45 | €802 | €195 | -€607 | -75.7% |
| Taxes | 450/3 | €802 | €195 | -€607 | -75.7% |
| Other amounts payable | 47/48 | - | €5,348 | +€5,348 | |
| Non-recurring operating income | 76A | - | €333 | +€333 | |
| Remuneration, social security and pensions | 62 | - | €100 | +€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,772 | €304 | -€4,468 | -93.6% |
| Other operating charges | 640/8 | €259 | €716 | +€456 | +176% |
| Non-recurring operating charges | 66A | - | €3,000 | +€3,000 | |
| Gross operating margin | 9900 | €15,480 | -€1,603 | -€17,084 | |
| Operating profit (loss) | 9901 | €10,449 | -€5,723 | -€16,172 | |
| Financial income | 75/76B | €1 | €27 | +€25 | +2,108% |
| Recurring financial income | 75 | €1 | €27 | +€25 | +2,108% |
| Financial charges | 65/66B | €986 | €1,707 | +€722 | +73.2% |
| Recurring financial charges | 65 | €986 | €1,707 | +€722 | +73.2% |
| Profit (loss) for the period before taxes | 9903 | €9,464 | -€7,404 | -€16,869 | |
| Income taxes | 67/77 | - | €195 | +€195 | |
| Profit (loss) for the period | 9904 | €9,464 | -€7,599 | -€17,064 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,464 | -€7,599 | -€17,064 |
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.