G.A.B.: 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.A.B.
Largest movements
- Cash +€84,212
up €84,212 (+25.2%), from €333,882 to €418,093
mainly Net result for the year (+€116,978) and Depreciation (+€49,945)
- Tangible fixed assets +€49,923
up €49,923 (+17.3%), from €288,506 to €338,428
of which Furniture and vehicles: +€81,021
- Receivables within one year -€30,682
down €30,682 (-24.9%), from €122,987 to €92,305
- Stocks and contracts -€20,095
down €20,095 (-11.7%), from €172,063 to €151,968
of which Stocks: -€10,095
- Reserves +€116,145
up €116,145 (+14.6%), from €797,070 to €913,215
- Debts after one year -€15,569
no longer reported in 2025 (was €15,569)
- Trade debts -€14,692
down €14,692 (-63.9%), from €22,978 to €8,286
- Current portion of long-term debt -€12,526
down €12,526 (-44.7%), from €28,034 to €15,508
- Gross operating margin -€27,785
down €27,785 (-8.4%), from €328,939 to €301,154
- Depreciation -€12,128
down €12,128 (-19.5%), from €62,074 to €49,945
- Taxes -€11,224
down €11,224 (-17.0%), from €66,216 to €54,992
- Staff costs +€3,825
up €3,825 (+5.5%), from €69,311 to €73,136
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 | €919,043 | €1,003,057 | +€84,014 | +9.1% |
| Fixed assets | 21/28 | €288,801 | €338,723 | +€49,923 | +17.3% |
| Tangible fixed assets | 22/27 | €288,506 | €338,428 | +€49,923 | +17.3% |
| Land and buildings | 22 | €163,472 | €156,492 | -€6,979 | -4.3% |
| Plant, machinery and equipment | 23 | €112,531 | €88,412 | -€24,119 | -21.4% |
| Furniture and vehicles | 24 | €12,503 | €93,524 | +€81,021 | +648% |
| Financial fixed assets | 28 | €295 | €295 | = | 0.0% |
| Current assets | 29/58 | €630,243 | €664,334 | +€34,091 | +5.4% |
| Stocks and contracts in progress | 3 | €172,063 | €151,968 | -€20,095 | -11.7% |
| Stocks | 30/36 | €162,063 | €151,968 | -€10,095 | -6.2% |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €122,987 | €92,305 | -€30,682 | -24.9% |
| Trade receivables | 40 | €122,987 | €92,305 | -€30,682 | -24.9% |
| Cash at bank and in hand | 54/58 | €333,882 | €418,093 | +€84,212 | +25.2% |
| Deferred charges and accrued income | 490/1 | €1,311 | €1,967 | +€656 | +50.1% |
| Total equity and liabilities | 10/49 | €919,043 | €1,003,057 | +€84,014 | +9.1% |
| Equity | 10/15 | €803,270 | €919,415 | +€116,145 | +14.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €797,070 | €913,215 | +€116,145 | +14.6% |
| Distributable reserves | 133 | €797,070 | €913,215 | +€116,145 | +14.6% |
| Amounts payable | 17/49 | €115,773 | €83,642 | -€32,131 | -27.8% |
| Amounts payable after more than one year | 17 | €15,569 | - | -€15,569 | |
| Financial debts | 170/4 | €15,569 | - | -€15,569 | |
| Amounts payable within one year | 42/48 | €100,205 | €81,802 | -€18,403 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €28,034 | €15,508 | -€12,526 | -44.7% |
| Trade debts | 44 | €22,978 | €8,286 | -€14,692 | -63.9% |
| Suppliers | 440/4 | €22,978 | €8,286 | -€14,692 | -63.9% |
| Taxes, remuneration and social security | 45 | €48,950 | €57,681 | +€8,731 | +17.8% |
| Taxes | 450/3 | €42,176 | €51,942 | +€9,766 | +23.2% |
| Remuneration and social security | 454/9 | €6,774 | €5,739 | -€1,035 | -15.3% |
| Other amounts payable | 47/48 | €243 | €327 | +€84 | +34.7% |
| Accrued charges and deferred income | 492/3 | - | €1,840 | +€1,840 | |
| Remuneration, social security and pensions | 62 | €69,311 | €73,136 | +€3,825 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,074 | €49,945 | -€12,128 | -19.5% |
| Other operating charges | 640/8 | €6,831 | €7,011 | +€180 | +2.6% |
| Gross operating margin | 9900 | €328,939 | €301,154 | -€27,785 | -8.4% |
| Operating profit (loss) | 9901 | €190,723 | €171,062 | -€19,661 | -10.3% |
| Financial income | 75/76B | €3,059 | €2,669 | -€390 | -12.7% |
| Recurring financial income | 75 | €3,059 | €2,669 | -€390 | -12.7% |
| Financial charges | 65/66B | €3,147 | €1,761 | -€1,386 | -44.0% |
| Recurring financial charges | 65 | €3,147 | €1,761 | -€1,386 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €190,635 | €171,970 | -€18,665 | -9.8% |
| Income taxes | 67/77 | €66,216 | €54,992 | -€11,224 | -17.0% |
| Profit (loss) for the period | 9904 | €124,419 | €116,978 | -€7,440 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €124,419 | €116,978 | -€7,440 | -6.0% |
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 13 October 2026 via checked.be.