GA & C.: 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.
GA & C.
Largest movements
- Cash +€72,448
up €72,448 (+88.1%), from €82,191 to €154,639
mainly Net result for the year (+€60,664) and Current investments (+€44,548)
- Current investments -€44,548
down €44,548 (-1.9%), from €2.4m to €2.3m
- Receivables within one year +€32,687
up €32,687 (+237%), from €13,773 to €46,460
of which Other amounts receivable: +€36,688
- Reserves +€60,664
up €60,664 (+2.6%), from €2.3m to €2.4m
- Gross operating margin -€58,020
down €58,020, from €32,977 to -€25,044
- Taxes -€26,202
down €26,202 (-73.9%), from €35,466 to €9,263
- Financial charges +€18,582
up €18,582, from -€4,411 to €14,171
- Other operating charges -€11,807
down €11,807 (-74.4%), from €15,874 to €4,067
- Financial income +€2,012
up €2,012 (+1.8%), from €112,053 to €114,065
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 | €2,551,132 | €2,607,902 | +€56,770 | +2.2% |
| Fixed assets | 21/28 | €68,512 | €69,853 | +€1,341 | +2.0% |
| Tangible fixed assets | 22/27 | €68,512 | €69,853 | +€1,341 | +2.0% |
| Furniture and vehicles | 24 | €512 | €1,853 | +€1,341 | +262% |
| Other tangible fixed assets | 26 | €68,000 | €68,000 | = | 0.0% |
| Current assets | 29/58 | €2,482,620 | €2,538,048 | +€55,429 | +2.2% |
| Amounts receivable within one year | 40/41 | €13,773 | €46,460 | +€32,687 | +237% |
| Trade receivables | 40 | €10,110 | €6,109 | -€4,001 | -39.6% |
| Other amounts receivable | 41 | €3,663 | €40,351 | +€36,688 | +1,001% |
| Current investments | 50/53 | €2,368,545 | €2,323,997 | -€44,548 | -1.9% |
| Cash at bank and in hand | 54/58 | €82,191 | €154,639 | +€72,448 | +88.1% |
| Deferred charges and accrued income | 490/1 | €18,110 | €12,952 | -€5,158 | -28.5% |
| Total equity and liabilities | 10/49 | €2,551,132 | €2,607,902 | +€56,770 | +2.2% |
| Equity | 10/15 | €2,528,791 | €2,589,455 | +€60,664 | +2.4% |
| Contributions | 10/11 | €117,600 | €117,600 | = | 0.0% |
| Reserves | 13 | €2,327,249 | €2,387,913 | +€60,664 | +2.6% |
| Distributable reserves | 133 | €2,327,249 | €2,387,913 | +€60,664 | +2.6% |
| Profit (loss) carried forward | 14 | €83,942 | €83,942 | = | 0.0% |
| Amounts payable | 17/49 | €22,341 | €18,447 | -€3,894 | -17.4% |
| Amounts payable within one year | 42/48 | €22,341 | €17,368 | -€4,973 | -22.3% |
| Trade debts | 44 | €14,525 | €8,115 | -€6,410 | -44.1% |
| Suppliers | 440/4 | €14,525 | €8,115 | -€6,410 | -44.1% |
| Taxes, remuneration and social security | 45 | €7,816 | €9,252 | +€1,437 | +18.4% |
| Taxes | 450/3 | €7,816 | €0 | -€7,816 | -100% |
| Remuneration and social security | 454/9 | - | €9,252 | +€9,252 | |
| Accrued charges and deferred income | 492/3 | - | €1,079 | +€1,079 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171 | €855 | +€684 | +401% |
| Other operating charges | 640/8 | €15,874 | €4,067 | -€11,807 | -74.4% |
| Non-recurring operating charges | 66A | €1,100 | €0 | -€1,100 | -100% |
| Gross operating margin | 9900 | €32,977 | -€25,044 | -€58,020 | |
| Operating profit (loss) | 9901 | €15,831 | -€29,966 | -€45,798 | |
| Financial income | 75/76B | €112,053 | €114,065 | +€2,012 | +1.8% |
| Recurring financial income | 75 | €112,053 | €114,065 | +€2,012 | +1.8% |
| Financial charges | 65/66B | -€4,411 | €14,171 | +€18,582 | |
| Recurring financial charges | 65 | -€4,411 | €14,171 | +€18,582 | |
| Profit (loss) for the period before taxes | 9903 | €132,296 | €69,928 | -€62,368 | -47.1% |
| Income taxes | 67/77 | €35,466 | €9,263 | -€26,202 | -73.9% |
| Profit (loss) for the period | 9904 | €96,830 | €60,664 | -€36,166 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €96,830 | €60,664 | -€36,166 | -37.3% |
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 24 October 2026 via checked.be.