G.A.S.: 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.S.
Largest movements
- Receivables within one year +€32,598
up €32,598 (+39.6%), from €82,310 to €114,908
of which Trade receivables: +€35,883
- Stocks and contracts +€13,850
up €13,850 (+107.7%), from €12,864 to €26,714
- Deferred charges and accrued income -€4,534
no longer reported in 2025 (was €4,534)
- Cash +€2,371
up €2,371 (+6.5%), from €36,673 to €39,044
mainly Trade debts (+€65,367) and Deferred charges and accrued income (+€4,534)
- Trade debts +€65,367
up €65,367 (+38.0%), from €172,114 to €237,482
- Profit (loss) carried forward -€16,614
down €16,614 (-18.4%), from -€90,510 to -€107,124
- Tax, wage and social debts -€5,312
down €5,312 (-24.6%), from €21,613 to €16,301
of which Taxes: -€7,020
- Gross operating margin -€11,383
down €11,383 (-4.6%), from €248,907 to €237,524
- Staff costs +€9,668
up €9,668 (+4.4%), from €221,318 to €230,986
- Other operating charges -€2,787
down €2,787 (-10.8%), from €25,796 to €23,010
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.
Cash bridge derived
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 | €160,058 | €204,342 | +€44,285 | +27.7% |
| Fixed assets | 21/28 | €23,676 | €23,676 | = | 0.0% |
| Financial fixed assets | 28 | €23,676 | €23,676 | = | 0.0% |
| Current assets | 29/58 | €136,381 | €180,666 | +€44,285 | +32.5% |
| Stocks and contracts in progress | 3 | €12,864 | €26,714 | +€13,850 | +107.7% |
| Stocks | 30/36 | €12,864 | €26,714 | +€13,850 | +107.7% |
| Amounts receivable within one year | 40/41 | €82,310 | €114,908 | +€32,598 | +39.6% |
| Trade receivables | 40 | €77,025 | €112,908 | +€35,883 | +46.6% |
| Other amounts receivable | 41 | €5,285 | €2,000 | -€3,285 | -62.2% |
| Cash at bank and in hand | 54/58 | €36,673 | €39,044 | +€2,371 | +6.5% |
| Deferred charges and accrued income | 490/1 | €4,534 | - | -€4,534 | |
| Total equity and liabilities | 10/49 | €160,058 | €204,342 | +€44,285 | +27.7% |
| Equity | 10/15 | -€77,710 | -€94,324 | -€16,614 | -21.4% |
| Contributions | 10/11 | €12,800 | €12,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,510 | -€107,124 | -€16,614 | -18.4% |
| Amounts payable | 17/49 | €237,767 | €298,667 | +€60,899 | +25.6% |
| Amounts payable within one year | 42/48 | €237,767 | €298,667 | +€60,899 | +25.6% |
| Trade debts | 44 | €172,114 | €237,482 | +€65,367 | +38.0% |
| Suppliers | 440/4 | €172,114 | €237,482 | +€65,367 | +38.0% |
| Taxes, remuneration and social security | 45 | €21,613 | €16,301 | -€5,312 | -24.6% |
| Taxes | 450/3 | €13,590 | €6,570 | -€7,020 | -51.7% |
| Remuneration and social security | 454/9 | €8,023 | €9,731 | +€1,708 | +21.3% |
| Other amounts payable | 47/48 | €44,040 | €44,884 | +€844 | +1.9% |
| Remuneration, social security and pensions | 62 | €221,318 | €230,986 | +€9,668 | +4.4% |
| Other operating charges | 640/8 | €25,796 | €23,010 | -€2,787 | -10.8% |
| Gross operating margin | 9900 | €248,907 | €237,524 | -€11,383 | -4.6% |
| Operating profit (loss) | 9901 | €1,792 | -€16,472 | -€18,264 | |
| Financial income | 75/76B | €236 | €7 | -€229 | -97.1% |
| Recurring financial income | 75 | €236 | €7 | -€229 | -97.1% |
| Financial charges | 65/66B | €0 | €150 | +€150 | |
| Recurring financial charges | 65 | €0 | €150 | +€150 | |
| Profit (loss) for the period before taxes | 9903 | €2,028 | -€16,614 | -€18,642 | |
| Profit (loss) for the period | 9904 | €2,028 | -€16,614 | -€18,642 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,028 | -€16,614 | -€18,642 |
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 12 October 2026 via checked.be.