G@SP: 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@SP
Largest movements
- Receivables within one year -€277,749
down €277,749 (-61.4%), from €452,138 to €174,389
of which Trade receivables: -€247,420
- Tangible fixed assets -€6,421
down €6,421 (-35.5%), from €18,095 to €11,675
of which Furniture and vehicles: -€4,561
- Advances received -€318,061
no longer reported in 2025 (was €318,061)
- Profit (loss) carried forward +€32,369
new in 2025: €32,369
- Tax, wage and social debts +€10,476
up €10,476 (+786.0%), from €1,333 to €11,809
- Trade debts -€8,972
down €8,972 (-44.8%), from €20,047 to €11,074
- Gross operating margin +€7,904
up €7,904 (+21.4%), from €37,005 to €44,908
- Financial income +€6,078
up €6,078 (+5114.5%), from €119 to €6,196
- Taxes -€5,497
down €5,497 (-31.8%), from €17,306 to €11,809
- Financial charges -€806
down €806 (-80.8%), from €998 to €191
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 | €485,252 | €201,064 | -€284,189 | -58.6% |
| Fixed assets | 21/28 | €33,095 | €26,675 | -€6,421 | -19.4% |
| Tangible fixed assets | 22/27 | €18,095 | €11,675 | -€6,421 | -35.5% |
| Plant, machinery and equipment | 23 | €3,342 | €1,483 | -€1,859 | -55.6% |
| Furniture and vehicles | 24 | €14,753 | €10,192 | -€4,561 | -30.9% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €452,157 | €174,389 | -€277,768 | -61.4% |
| Amounts receivable within one year | 40/41 | €452,138 | €174,389 | -€277,749 | -61.4% |
| Trade receivables | 40 | €284,667 | €37,248 | -€247,420 | -86.9% |
| Other amounts receivable | 41 | €167,471 | €137,141 | -€30,330 | -18.1% |
| Cash at bank and in hand | 54/58 | €19 | - | -€19 | |
| Total equity and liabilities | 10/49 | €485,252 | €201,064 | -€284,189 | -58.6% |
| Equity | 10/15 | €145,812 | €178,181 | +€32,369 | +22.2% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Outside capital | 11 | €6,500 | - | -€6,500 | |
| Other | 1109/19 | €6,500 | - | -€6,500 | |
| Reserves | 13 | €139,312 | €139,312 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €137,452 | €137,452 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €32,369 | +€32,369 | |
| Amounts payable | 17/49 | €339,440 | €22,883 | -€316,557 | -93.3% |
| Amounts payable within one year | 42/48 | €339,440 | €22,883 | -€316,557 | -93.3% |
| Trade debts | 44 | €20,047 | €11,074 | -€8,972 | -44.8% |
| Suppliers | 440/4 | €20,047 | €11,074 | -€8,972 | -44.8% |
| Advances received on contracts in progress | 46 | €318,061 | - | -€318,061 | |
| Taxes, remuneration and social security | 45 | €1,333 | €11,809 | +€10,476 | +786.0% |
| Taxes | 450/3 | €1,333 | €11,809 | +€10,476 | +786.0% |
| Remuneration, social security and pensions | 62 | €162 | €68 | -€94 | -58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,420 | €6,421 | +€0 | 0.0% |
| Other operating charges | 640/8 | - | €247 | +€247 | |
| Gross operating margin | 9900 | €37,005 | €44,908 | +€7,904 | +21.4% |
| Operating profit (loss) | 9901 | €30,422 | €38,173 | +€7,750 | +25.5% |
| Financial income | 75/76B | €119 | €6,196 | +€6,078 | +5114.5% |
| Recurring financial income | 75 | €119 | €6,196 | +€6,078 | +5114.5% |
| Financial charges | 65/66B | €998 | €191 | -€806 | -80.8% |
| Recurring financial charges | 65 | €998 | €191 | -€806 | -80.8% |
| Profit (loss) for the period before taxes | 9903 | €29,543 | €44,177 | +€14,634 | +49.5% |
| Income taxes | 67/77 | €17,306 | €11,809 | -€5,497 | -31.8% |
| Profit (loss) for the period | 9904 | €12,238 | €32,369 | +€20,131 | +164.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,238 | €32,369 | +€20,131 | +164.5% |
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 4 October 2026 via checked.be.