G-PAQ: what changed
G-PAQ
Largest movements
- Tangible fixed assets +€9,839
new in 2025: €9,839
- Receivables within one year -€5,289
down €5,289 (-59.4%), from €8,899 to €3,610
of which Other amounts receivable: -€5,235
- Cash -€499
down €499 (-76.8%), from €650 to €151
mainly Investment in fixed assets (net) (-€9,900) and Deferred charges and accrued income (-€170)
- Deferred charges and accrued income +€170
new in 2025: €170
- Profit (loss) carried forward +€3,901
up €3,901 (+25.0%), from -€15,632 to -€11,730
- Trade debts +€481
up €481 (+12.9%), from €3,737 to €4,218
- Tax, wage and social debts -€160
down €160 (-8.0%), from €1,989 to €1,829
- Gross operating margin +€5,317
up €5,317, from -€1,279 to €4,039
- Financial income -€163
down €163 (-32.8%), from €497 to €334
- Depreciation +€61
new in 2025: €61
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,729 | €13,950 | +€4,222 | +43.4% |
| Fixed assets | 21/28 | €180 | €10,019 | +€9,839 | +5,466% |
| Tangible fixed assets | 22/27 | - | €9,839 | +€9,839 | |
| Furniture and vehicles | 24 | - | €9,839 | +€9,839 | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €9,549 | €3,931 | -€5,617 | -58.8% |
| Amounts receivable within one year | 40/41 | €8,899 | €3,610 | -€5,289 | -59.4% |
| Trade receivables | 40 | €53 | - | -€53 | |
| Other amounts receivable | 41 | €8,845 | €3,610 | -€5,235 | -59.2% |
| Cash at bank and in hand | 54/58 | €650 | €151 | -€499 | -76.8% |
| Deferred charges and accrued income | 490/1 | - | €170 | +€170 | |
| Total equity and liabilities | 10/49 | €9,729 | €13,950 | +€4,222 | +43.4% |
| Equity | 10/15 | €3,353 | €7,255 | +€3,901 | +116% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €385 | €385 | = | 0.0% |
| Non-distributable reserves | 130/1 | €385 | €385 | = | 0.0% |
| Reserves not available under the articles | 1311 | €385 | €385 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,632 | -€11,730 | +€3,901 | +25.0% |
| Amounts payable | 17/49 | €6,375 | €6,696 | +€320 | +5.0% |
| Amounts payable within one year | 42/48 | €6,375 | €6,696 | +€320 | +5.0% |
| Financial debts | 43 | €650 | €649 | -€1 | -0.1% |
| Credit institutions | 430/8 | €650 | €649 | -€1 | -0.1% |
| Trade debts | 44 | €3,737 | €4,218 | +€481 | +12.9% |
| Suppliers | 440/4 | €3,737 | €4,218 | +€481 | +12.9% |
| Taxes, remuneration and social security | 45 | €1,989 | €1,829 | -€160 | -8.0% |
| Taxes | 450/3 | €1,989 | €1,829 | -€160 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €61 | +€61 | |
| Other operating charges | 640/8 | €56 | €45 | -€11 | -19.7% |
| Gross operating margin | 9900 | -€1,279 | €4,039 | +€5,317 | |
| Operating profit (loss) | 9901 | -€1,335 | €3,932 | +€5,267 | |
| Financial income | 75/76B | €497 | €334 | -€163 | -32.8% |
| Recurring financial income | 75 | €497 | €334 | -€163 | -32.8% |
| Financial charges | 65/66B | €379 | €365 | -€14 | -3.6% |
| Recurring financial charges | 65 | €379 | €365 | -€14 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,216 | €3,901 | +€5,118 | |
| Profit (loss) for the period | 9904 | -€1,216 | €3,901 | +€5,118 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,216 | €3,901 | +€5,118 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.