G-CAS: what changed
Two fiscal 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-CAS
Largest movements
- Cash -€169,881
down €169,881 (-84.4%), from €201,288 to €31,407
mainly Current investments (-€154,569) and Tax, wage and social debts (-€41,200)
- Current investments +€154,569
new in 2025: €154,569
- Receivables within one year +€12,100
up €12,100 (+50.0%), from €24,200 to €36,300
- Tax, wage and social debts -€41,200
down €41,200 (-72.6%), from €56,767 to €15,566
of which Taxes: -€37,255
- Reserves +€29,495
up €29,495 (+18.1%), from €162,912 to €192,406
- Trade debts +€7,073
up €7,073 (+123.9%), from €5,709 to €12,782
- Gross operating margin -€14,441
down €14,441 (-13.7%), from €105,100 to €90,659
- Financial income +€10,887
up €10,887 (+36289966.7%), from €0 to €10,887
- Taxes +€2,150
up €2,150 (+14.4%), from €14,950 to €17,100
- Staff costs +€2,020
up €2,020 (+3.9%), from €51,895 to €53,915
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 | €225,488 | €222,276 | -€3,212 | -1.4% |
| Current assets | 29/58 | €225,488 | €222,276 | -€3,212 | -1.4% |
| Amounts receivable within one year | 40/41 | €24,200 | €36,300 | +€12,100 | +50.0% |
| Trade receivables | 40 | €24,200 | €36,300 | +€12,100 | +50.0% |
| Current investments | 50/53 | - | €154,569 | +€154,569 | |
| Cash at bank and in hand | 54/58 | €201,288 | €31,407 | -€169,881 | -84.4% |
| Total equity and liabilities | 10/49 | €225,488 | €222,276 | -€3,212 | -1.4% |
| Equity | 10/15 | €163,012 | €192,506 | +€29,495 | +18.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €162,912 | €192,406 | +€29,495 | +18.1% |
| Distributable reserves | 133 | €162,912 | €192,406 | +€29,495 | +18.1% |
| Amounts payable | 17/49 | €62,476 | €29,770 | -€32,706 | -52.4% |
| Amounts payable within one year | 42/48 | €62,476 | €29,770 | -€32,706 | -52.4% |
| Trade debts | 44 | €5,709 | €12,782 | +€7,073 | +123.9% |
| Suppliers | 440/4 | €5,709 | €12,782 | +€7,073 | +123.9% |
| Taxes, remuneration and social security | 45 | €56,767 | €15,566 | -€41,200 | -72.6% |
| Taxes | 450/3 | €45,712 | €8,456 | -€37,255 | -81.5% |
| Remuneration and social security | 454/9 | €11,055 | €7,110 | -€3,945 | -35.7% |
| Other amounts payable | 47/48 | - | €1,421 | +€1,421 | |
| Remuneration, social security and pensions | 62 | €51,895 | €53,915 | +€2,020 | +3.9% |
| Other operating charges | 640/8 | €613 | €528 | -€86 | -14.0% |
| Gross operating margin | 9900 | €105,100 | €90,659 | -€14,441 | -13.7% |
| Operating profit (loss) | 9901 | €52,591 | €36,216 | -€16,376 | -31.1% |
| Financial income | 75/76B | €0 | €10,887 | +€10,887 | +36289966.7% |
| Recurring financial income | 75 | €0 | €10,887 | +€10,887 | +36289966.7% |
| Financial charges | 65/66B | €364 | €509 | +€145 | +39.9% |
| Recurring financial charges | 65 | €364 | €509 | +€145 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €52,228 | €46,594 | -€5,634 | -10.8% |
| Income taxes | 67/77 | €14,950 | €17,100 | +€2,150 | +14.4% |
| Profit (loss) for the period | 9904 | €37,278 | €29,495 | -€7,784 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,278 | €29,495 | -€7,784 | -20.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.