G.A.G.: 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.G.
Largest movements
- Tangible fixed assets +€619,989
up €619,989 (+6,034%), from €10,275 to €630,265
of which Land and buildings: +€620,293
- Cash -€26,987
down €26,987 (-29.4%), from €91,664 to €64,677
mainly Investment in fixed assets (net) (-€640,137) and Receivables within one year (-€25,228)
- Receivables within one year +€25,228
up €25,228 (+25.7%), from €98,045 to €123,273
of which Other amounts receivable: +€42,388
- Profit (loss) carried forward +€274,029
up €274,029 (+152%), from €180,836 to €454,865
- Debts after one year +€238,830
new in 2024: €238,830
- Tax, wage and social debts +€101,666
up €101,666 (+6,964%), from €1,460 to €103,126
- Current portion of long-term debt +€9,170
new in 2024: €9,170
- Gross operating margin +€386,535
up €386,535 (+604,528%), from €64 to €386,599
- Taxes +€101,000
up €101,000 (+6,829%), from €1,479 to €102,479
- Depreciation +€19,784
up €19,784 (+3,850%), from €514 to €20,298
- Financial income +€7,439
up €7,439 (+180%), from €4,131 to €11,570
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,173 | €818,215 | +€618,041 | +309% |
| Fixed assets | 21/28 | €10,425 | €630,265 | +€619,839 | +5,945% |
| Tangible fixed assets | 22/27 | €10,275 | €630,265 | +€619,989 | +6,034% |
| Land and buildings | 22 | €9,972 | €630,265 | +€620,293 | +6,220% |
| Plant, machinery and equipment | 23 | €303 | €0 | -€303 | -100% |
| Financial fixed assets | 28 | €150 | €0 | -€150 | -100% |
| Current assets | 29/58 | €189,748 | €187,950 | -€1,798 | -0.9% |
| Amounts receivable within one year | 40/41 | €98,045 | €123,273 | +€25,228 | +25.7% |
| Trade receivables | 40 | €17,446 | €285 | -€17,161 | -98.4% |
| Other amounts receivable | 41 | €80,600 | €122,988 | +€42,388 | +52.6% |
| Cash at bank and in hand | 54/58 | €91,664 | €64,677 | -€26,987 | -29.4% |
| Deferred charges and accrued income | 490/1 | €39 | €0 | -€39 | -100% |
| Total equity and liabilities | 10/49 | €200,173 | €818,215 | +€618,041 | +309% |
| Equity | 10/15 | €192,887 | €466,916 | +€274,029 | +142% |
| Contributions | 10/11 | €8,366 | €8,366 | = | 0.0% |
| Reserves | 13 | €3,685 | €3,685 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,685 | €1,860 | -€1,825 | -49.5% |
| Reserves not available under the articles | 1311 | €3,685 | €1,860 | -€1,825 | -49.5% |
| Distributable reserves | 133 | - | €1,825 | +€1,825 | |
| Profit (loss) carried forward | 14 | €180,836 | €454,865 | +€274,029 | +152% |
| Amounts payable | 17/49 | €7,286 | €351,299 | +€344,012 | +4,721% |
| Amounts payable after more than one year | 17 | - | €238,830 | +€238,830 | |
| Financial debts | 170/4 | - | €238,830 | +€238,830 | |
| Amounts payable within one year | 42/48 | €7,286 | €112,469 | +€105,183 | +1,444% |
| Current portion of amounts payable after more than one year | 42 | - | €9,170 | +€9,170 | |
| Trade debts | 44 | €5,826 | €173 | -€5,654 | -97.0% |
| Suppliers | 440/4 | €5,826 | €173 | -€5,654 | -97.0% |
| Taxes, remuneration and social security | 45 | €1,460 | €103,126 | +€101,666 | +6,964% |
| Taxes | 450/3 | €1,460 | €103,126 | +€101,666 | +6,964% |
| Non-recurring operating income | 76A | €353 | €0 | -€353 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €514 | €20,298 | +€19,784 | +3,850% |
| Other operating charges | 640/8 | €3,584 | €1,312 | -€2,271 | -63.4% |
| Gross operating margin | 9900 | €64 | €386,599 | +€386,535 | +604,528% |
| Operating profit (loss) | 9901 | -€4,034 | €364,989 | +€369,023 | |
| Financial income | 75/76B | €4,131 | €11,570 | +€7,439 | +180% |
| Recurring financial income | 75 | €4,131 | €11,570 | +€7,439 | +180% |
| Financial charges | 65/66B | €62 | €51 | -€11 | -17.8% |
| Recurring financial charges | 65 | €62 | €51 | -€11 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €36 | €376,508 | +€376,473 | +1,055,728% |
| Income taxes | 67/77 | €1,479 | €102,479 | +€101,000 | +6,829% |
| Profit (loss) for the period | 9904 | -€1,443 | €274,029 | +€275,472 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,443 | €274,029 | +€275,472 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.