de Gaepaert: 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.
de Gaepaert
Largest movements
- Tangible fixed assets -€9,548
down €9,548 (-5.0%), from €191,729 to €182,180
- Reserves -€4,013
down €4,013 (-6.6%), from €60,505 to €56,491
- Other debts -€2,115
down €2,115 (-2.1%), from €98,545 to €96,429
- Profit (loss) carried forward -€2,098
down €2,098 (-4.2%), from -€49,797 to -€51,895
- Gross operating margin +€802
up €802 (+26.4%), from €3,039 to €3,840
- Depreciation +€86
up €86 (+0.8%), from €10,313 to €10,398
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 | €191,760 | €182,208 | -€9,552 | -5.0% |
| Fixed assets | 21/28 | €191,729 | €182,180 | -€9,548 | -5.0% |
| Tangible fixed assets | 22/27 | €191,729 | €182,180 | -€9,548 | -5.0% |
| Land and buildings | 22 | €191,729 | €182,180 | -€9,548 | -5.0% |
| Current assets | 29/58 | €31 | €27 | -€4 | -12.8% |
| Cash at bank and in hand | 54/58 | €31 | €27 | -€4 | -12.8% |
| Total equity and liabilities | 10/49 | €191,760 | €182,208 | -€9,552 | -5.0% |
| Equity | 10/15 | €72,681 | €66,570 | -€6,112 | -8.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €60,505 | €56,491 | -€4,013 | -6.6% |
| Tax-exempt reserves | 132 | €60,505 | €56,491 | -€4,013 | -6.6% |
| Profit (loss) carried forward | 14 | -€49,797 | -€51,895 | -€2,098 | -4.2% |
| Provisions and deferred taxes | 16 | €20,147 | €18,809 | -€1,338 | -6.6% |
| Deferred taxes | 168 | €20,147 | €18,809 | -€1,338 | -6.6% |
| Amounts payable | 17/49 | €98,932 | €96,829 | -€2,103 | -2.1% |
| Amounts payable within one year | 42/48 | €98,545 | €96,429 | -€2,115 | -2.1% |
| Other amounts payable | 47/48 | €98,545 | €96,429 | -€2,115 | -2.1% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,313 | €10,398 | +€86 | +0.8% |
| Other operating charges | 640/8 | €813 | €829 | +€16 | +2.0% |
| Gross operating margin | 9900 | €3,039 | €3,840 | +€802 | +26.4% |
| Operating profit (loss) | 9901 | -€8,087 | -€7,387 | +€700 | +8.7% |
| Financial charges | 65/66B | €24 | €63 | +€38 | +157% |
| Recurring financial charges | 65 | €24 | €63 | +€38 | +157% |
| Profit (loss) for the period before taxes | 9903 | -€8,111 | -€7,449 | +€662 | +8.2% |
| Transfer from deferred taxes | 780 | €1,947 | €1,338 | -€609 | -31.3% |
| Profit (loss) for the period | 9904 | -€6,164 | -€6,112 | +€53 | +0.9% |
| Transfer from tax-exempt reserves | 789 | €5,847 | €4,013 | -€1,833 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€318 | -€2,098 | -€1,780 | -560% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.