G.C: 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.
G.C
Largest movements
- Receivables within one year +€546,293
up €546,293 (+54.7%), from €998,605 to €1.5m
of which Trade receivables: +€398,429
- Tangible fixed assets -€199,051
down €199,051 (-3.8%), from €5.2m to €5.0m
of which Land and buildings: -€198,543
- Debts after one year -€338,611
down €338,611 (-10.4%), from €3.3m to €2.9m
of which Financial debts: -€288,550
- Other debts +€332,862
up €332,862 (+18.3%), from €1.8m to €2.1m
- Profit (loss) carried forward +€256,983
up €256,983 (+79.8%), from €321,986 to €578,969
- Depreciation -€204,297
down €204,297 (-50.7%), from €403,348 to €199,051
- Gross operating margin -€134,039
down €134,039 (-15.2%), from €880,959 to €746,920
- Taxes -€31,878
down €31,878 (-25.9%), from €122,869 to €90,991
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 | €6,183,879 | €6,537,038 | +€353,159 | +5.7% |
| Fixed assets | 21/28 | €5,182,561 | €4,983,510 | -€199,051 | -3.8% |
| Tangible fixed assets | 22/27 | €5,174,401 | €4,975,350 | -€199,051 | -3.8% |
| Land and buildings | 22 | €5,170,765 | €4,972,222 | -€198,543 | -3.8% |
| Plant, machinery and equipment | 23 | €3,637 | €3,128 | -€509 | -14.0% |
| Financial fixed assets | 28 | €8,160 | €8,160 | = | 0.0% |
| Current assets | 29/58 | €1,001,318 | €1,553,528 | +€552,210 | +55.1% |
| Amounts receivable within one year | 40/41 | €998,605 | €1,544,899 | +€546,293 | +54.7% |
| Trade receivables | 40 | €973,605 | €1,372,034 | +€398,429 | +40.9% |
| Other amounts receivable | 41 | €25,000 | €172,864 | +€147,864 | +591% |
| Cash at bank and in hand | 54/58 | €1,570 | €2,672 | +€1,102 | +70.2% |
| Deferred charges and accrued income | 490/1 | €1,143 | €5,957 | +€4,814 | +421% |
| Total equity and liabilities | 10/49 | €6,183,879 | €6,537,038 | +€353,159 | +5.7% |
| Equity | 10/15 | €731,446 | €988,429 | +€256,983 | +35.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €390,860 | €390,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €389,000 | €389,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,986 | €578,969 | +€256,983 | +79.8% |
| Amounts payable | 17/49 | €5,452,433 | €5,548,609 | +€96,175 | +1.8% |
| Amounts payable after more than one year | 17 | €3,262,773 | €2,924,163 | -€338,611 | -10.4% |
| Financial debts | 170/4 | €3,212,713 | €2,924,163 | -€288,550 | -9.0% |
| Other amounts payable | 178/9 | €50,060 | - | -€50,060 | |
| Amounts payable within one year | 42/48 | €2,187,759 | €2,582,446 | +€394,687 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €314,903 | €320,274 | +€5,371 | +1.7% |
| Trade debts | 44 | €3,125 | €1,452 | -€1,674 | -53.5% |
| Suppliers | 440/4 | €3,125 | €1,452 | -€1,674 | -53.5% |
| Taxes, remuneration and social security | 45 | €53,477 | €111,604 | +€58,127 | +109% |
| Taxes | 450/3 | €53,477 | €111,604 | +€58,127 | +109% |
| Other amounts payable | 47/48 | €1,816,254 | €2,149,116 | +€332,862 | +18.3% |
| Accrued charges and deferred income | 492/3 | €1,902 | €42,000 | +€40,098 | +2,109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €403,348 | €199,051 | -€204,297 | -50.7% |
| Other operating charges | 640/8 | €59,550 | €53,038 | -€6,512 | -10.9% |
| Gross operating margin | 9900 | €880,959 | €746,920 | -€134,039 | -15.2% |
| Operating profit (loss) | 9901 | €418,061 | €494,831 | +€76,770 | +18.4% |
| Financial income | 75/76B | - | €4,864 | +€4,864 | |
| Recurring financial income | 75 | - | €4,864 | +€4,864 | |
| Financial charges | 65/66B | €149,753 | €151,721 | +€1,968 | +1.3% |
| Recurring financial charges | 65 | €149,753 | €151,721 | +€1,968 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €268,307 | €347,974 | +€79,666 | +29.7% |
| Income taxes | 67/77 | €122,869 | €90,991 | -€31,878 | -25.9% |
| Profit (loss) for the period | 9904 | €145,439 | €256,983 | +€111,545 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €145,439 | €256,983 | +€111,545 | +76.7% |
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 28 October 2026 via checked.be.