G-WALL: 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-WALL
Largest movements
- Financial fixed assets +€150,000
new in 2025: €150,000
- Tangible fixed assets -€10,477
down €10,477 (-21.8%), from €48,080 to €37,603
- Cash +€5,897
up €5,897 (+58.1%), from €10,142 to €16,039
mainly Debts after one year (+€79,544) and Other debts (+€40,253)
- Debts after one year +€79,544
up €79,544 (+212%), from €37,596 to €117,141
- Other debts +€40,253
up €40,253 (+744%), from €5,408 to €45,661
- Current portion of long-term debt +€14,644
up €14,644 (+147%), from €9,962 to €24,605
- Tax, wage and social debts +€5,870
up €5,870 (+153,257%), from €4 to €5,874
of which Taxes: +€5,870
- Profit (loss) carried forward +€3,678
up €3,678 (+283%), from €1,301 to €4,978
- Gross operating margin +€12,331
up €12,331 (+137%), from €9,027 to €21,358
- Depreciation +€6,531
up €6,531 (+114%), from €5,727 to €12,259
- Financial charges +€2,788
up €2,788 (+173%), from €1,612 to €4,400
- Taxes +€501
up €501, from €0 to €501
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 | €60,837 | €205,420 | +€144,583 | +238% |
| Formation expenses | 20 | €1,782 | €0 | -€1,782 | -100% |
| Fixed assets | 21/28 | €48,080 | €187,603 | +€139,523 | +290% |
| Tangible fixed assets | 22/27 | €48,080 | €37,603 | -€10,477 | -21.8% |
| Plant, machinery and equipment | 23 | €48,080 | €37,603 | -€10,477 | -21.8% |
| Financial fixed assets | 28 | - | €150,000 | +€150,000 | |
| Current assets | 29/58 | €10,975 | €17,817 | +€6,842 | +62.3% |
| Amounts receivable within one year | 40/41 | €653 | €1,210 | +€558 | +85.4% |
| Trade receivables | 40 | €521 | €1,210 | +€689 | +132% |
| Other amounts receivable | 41 | €132 | €0 | -€132 | -100% |
| Cash at bank and in hand | 54/58 | €10,142 | €16,039 | +€5,897 | +58.1% |
| Deferred charges and accrued income | 490/1 | €181 | €568 | +€387 | +214% |
| Total equity and liabilities | 10/49 | €60,837 | €205,420 | +€144,583 | +238% |
| Equity | 10/15 | €6,301 | €9,978 | +€3,678 | +58.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,301 | €4,978 | +€3,678 | +283% |
| Amounts payable | 17/49 | €54,536 | €195,441 | +€140,905 | +258% |
| Amounts payable after more than one year | 17 | €37,596 | €117,141 | +€79,544 | +212% |
| Financial debts | 170/4 | €37,596 | €117,141 | +€79,544 | +212% |
| Amounts payable within one year | 42/48 | €15,703 | €76,818 | +€61,115 | +389% |
| Current portion of amounts payable after more than one year | 42 | €9,962 | €24,605 | +€14,644 | +147% |
| Trade debts | 44 | €330 | €678 | +€349 | +106% |
| Suppliers | 440/4 | €330 | €678 | +€349 | +106% |
| Taxes, remuneration and social security | 45 | €4 | €5,874 | +€5,870 | +153,257% |
| Taxes | 450/3 | €4 | €5,874 | +€5,870 | +153,257% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €5,408 | €45,661 | +€40,253 | +744% |
| Accrued charges and deferred income | 492/3 | €1,237 | €1,483 | +€246 | +19.9% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,727 | €12,259 | +€6,531 | +114% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €124 | +€124 | |
| Gross operating margin | 9900 | €9,027 | €21,358 | +€12,331 | +137% |
| Operating profit (loss) | 9901 | €2,913 | €8,576 | +€5,663 | +194% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,612 | €4,400 | +€2,788 | +173% |
| Recurring financial charges | 65 | €1,612 | €4,400 | +€2,788 | +173% |
| Profit (loss) for the period before taxes | 9903 | €1,301 | €4,179 | +€2,878 | +221% |
| Income taxes | 67/77 | €0 | €501 | +€501 | |
| Profit (loss) for the period | 9904 | €1,301 | €3,678 | +€2,377 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €1,301 | €3,678 | +€2,377 | +183% |
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 19 October 2026 via checked.be.