G-PAS HOLDING: 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-PAS HOLDING
Largest movements
- Receivables within one year -€136,333
down €136,333 (-88.2%), from €154,610 to €18,277
of which Other amounts receivable: -€136,521
- Cash +€135,314
up €135,314 (+230%), from €58,856 to €194,170
mainly Net result for the year (+€187,355) and Receivables within one year (+€136,333)
- Receivables after one year -€50,000
down €50,000 (-100%), from €50,000 to €0
- Tangible fixed assets -€17,776
down €17,776 (-52.7%), from €33,705 to €15,928
of which Furniture and vehicles: -€18,025
- Current investments +€12,000
up €12,000 (+17.9%), from €67,000 to €78,999
- Reserves -€153,591
down €153,591 (-19.3%), from €795,727 to €642,136
- Other debts +€100,918
up €100,918 (+74.5%), from €135,374 to €236,292
- Tax, wage and social debts +€11,531
up €11,531 (+27.7%), from €41,704 to €53,235
- Current portion of long-term debt -€11,414
down €11,414 (-74.8%), from €15,251 to €3,837
- Financial income -€5,464
down €5,464 (-5.2%), from €105,946 to €100,482
- Taxes +€3,501
up €3,501 (+7.6%), from €46,222 to €49,723
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 | €1,050,111 | €992,375 | -€57,736 | -5.5% |
| Fixed assets | 21/28 | €718,705 | €700,928 | -€17,776 | -2.5% |
| Tangible fixed assets | 22/27 | €33,705 | €15,928 | -€17,776 | -52.7% |
| Land and buildings | 22 | €2,341 | €2,341 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,213 | €2,462 | +€248 | +11.2% |
| Furniture and vehicles | 24 | €29,151 | €11,126 | -€18,025 | -61.8% |
| Financial fixed assets | 28 | €685,000 | €685,000 | = | 0.0% |
| Current assets | 29/58 | €331,406 | €291,447 | -€39,959 | -12.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €0 | -€50,000 | -100% |
| Other amounts receivable | 291 | €50,000 | €0 | -€50,000 | -100% |
| Amounts receivable within one year | 40/41 | €154,610 | €18,277 | -€136,333 | -88.2% |
| Trade receivables | 40 | €18,090 | €18,277 | +€188 | +1.0% |
| Other amounts receivable | 41 | €136,521 | €0 | -€136,521 | -100% |
| Current investments | 50/53 | €67,000 | €78,999 | +€12,000 | +17.9% |
| Cash at bank and in hand | 54/58 | €58,856 | €194,170 | +€135,314 | +230% |
| Deferred charges and accrued income | 490/1 | €940 | €0 | -€940 | -100% |
| Total equity and liabilities | 10/49 | €1,050,111 | €992,375 | -€57,736 | -5.5% |
| Equity | 10/15 | €851,527 | €697,936 | -€153,591 | -18.0% |
| Contributions | 10/11 | €55,800 | €55,800 | = | 0.0% |
| Reserves | 13 | €795,727 | €642,136 | -€153,591 | -19.3% |
| Distributable reserves | 133 | €795,727 | €642,136 | -€153,591 | -19.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €198,584 | €294,439 | +€95,855 | +48.3% |
| Amounts payable after more than one year | 17 | €3,837 | €0 | -€3,837 | -100% |
| Financial debts | 170/4 | €3,837 | €0 | -€3,837 | -100% |
| Amounts payable within one year | 42/48 | €194,747 | €294,439 | +€99,692 | +51.2% |
| Current portion of amounts payable after more than one year | 42 | €15,251 | €3,837 | -€11,414 | -74.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,419 | €1,076 | -€1,343 | -55.5% |
| Suppliers | 440/4 | €2,419 | €1,076 | -€1,343 | -55.5% |
| Taxes, remuneration and social security | 45 | €41,704 | €53,235 | +€11,531 | +27.7% |
| Taxes | 450/3 | €41,704 | €53,235 | +€11,531 | +27.7% |
| Other amounts payable | 47/48 | €135,374 | €236,292 | +€100,918 | +74.5% |
| Remuneration, social security and pensions | 62 | €1,216 | €1,693 | +€476 | +39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,429 | €18,866 | -€563 | -2.9% |
| Other operating charges | 640/8 | €1,073 | €1,107 | +€34 | +3.2% |
| Gross operating margin | 9900 | €157,777 | €158,484 | +€707 | +0.4% |
| Operating profit (loss) | 9901 | €136,059 | €136,818 | +€759 | +0.6% |
| Financial income | 75/76B | €105,946 | €100,482 | -€5,464 | -5.2% |
| Recurring financial income | 75 | €105,946 | €100,482 | -€5,464 | -5.2% |
| Financial charges | 65/66B | €1,055 | €222 | -€833 | -79.0% |
| Recurring financial charges | 65 | €1,055 | €222 | -€833 | -79.0% |
| Profit (loss) for the period before taxes | 9903 | €240,950 | €237,078 | -€3,872 | -1.6% |
| Income taxes | 67/77 | €46,222 | €49,723 | +€3,501 | +7.6% |
| Profit (loss) for the period | 9904 | €194,728 | €187,355 | -€7,373 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €194,728 | €187,355 | -€7,373 | -3.8% |
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 31 October 2026 via checked.be.