GAAJETAAN: 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.
GAAJETAAN
Largest movements
- Cash +€416,596
up €416,596 (+265%), from €157,458 to €574,053
mainly Current investments (+€300,000) and Net result for the year (+€181,070)
- Current investments -€300,000
down €300,000 (-37.5%), from €800,000 to €500,000
- Receivables after one year -€40,000
no longer reported in 2025 (was €40,000)
- Tangible fixed assets -€24,251
down €24,251 (-23.9%), from €101,299 to €77,048
of which Land and buildings: -€16,323
- Reserves +€62,268
up €62,268 (+6.8%), from €921,939 to €984,206
- Debts after one year -€16,988
down €16,988 (-66.1%), from €25,709 to €8,721
- Tax, wage and social debts -€13,521
down €13,521 (-24.0%), from €56,272 to €42,751
of which Taxes: -€14,704
- Gross operating margin -€17,797
down €17,797 (-4.9%), from €362,494 to €344,697
- Taxes -€5,261
down €5,261 (-5.8%), from €90,058 to €84,797
- Financial income +€4,060
up €4,060 (+21.7%), from €18,713 to €22,773
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 | €1,160,430 | €1,209,176 | +€48,745 | +4.2% |
| Fixed assets | 21/28 | €101,299 | €77,048 | -€24,251 | -23.9% |
| Tangible fixed assets | 22/27 | €101,299 | €77,048 | -€24,251 | -23.9% |
| Land and buildings | 22 | €33,178 | €16,855 | -€16,323 | -49.2% |
| Plant, machinery and equipment | 23 | €4,811 | €3,106 | -€1,705 | -35.4% |
| Furniture and vehicles | 24 | €63,310 | €57,087 | -€6,223 | -9.8% |
| Current assets | 29/58 | €1,059,132 | €1,132,127 | +€72,996 | +6.9% |
| Amounts receivable after more than one year | 29 | €40,000 | - | -€40,000 | |
| Trade receivables | 290 | €40,000 | - | -€40,000 | |
| Amounts receivable within one year | 40/41 | €28,657 | €24,991 | -€3,666 | -12.8% |
| Trade receivables | 40 | €23,949 | €19,414 | -€4,536 | -18.9% |
| Other amounts receivable | 41 | €4,707 | €5,577 | +€869 | +18.5% |
| Current investments | 50/53 | €800,000 | €500,000 | -€300,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €157,458 | €574,053 | +€416,596 | +265% |
| Deferred charges and accrued income | 490/1 | €33,017 | €33,084 | +€67 | +0.2% |
| Total equity and liabilities | 10/49 | €1,160,430 | €1,209,176 | +€48,745 | +4.2% |
| Equity | 10/15 | €940,539 | €1,002,806 | +€62,268 | +6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €921,939 | €984,206 | +€62,268 | +6.8% |
| Distributable reserves | 133 | €921,939 | €984,206 | +€62,268 | +6.8% |
| Amounts payable | 17/49 | €219,892 | €206,369 | -€13,522 | -6.1% |
| Amounts payable after more than one year | 17 | €25,709 | €8,721 | -€16,988 | -66.1% |
| Financial debts | 170/4 | €25,709 | €8,721 | -€16,988 | -66.1% |
| Amounts payable within one year | 42/48 | €194,183 | €197,648 | +€3,466 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €16,400 | €16,988 | +€588 | +3.6% |
| Trade debts | 44 | €13,310 | €19,107 | +€5,797 | +43.6% |
| Suppliers | 440/4 | €13,310 | €19,107 | +€5,797 | +43.6% |
| Taxes, remuneration and social security | 45 | €56,272 | €42,751 | -€13,521 | -24.0% |
| Taxes | 450/3 | €45,205 | €30,501 | -€14,704 | -32.5% |
| Remuneration and social security | 454/9 | €11,067 | €12,249 | +€1,182 | +10.7% |
| Other amounts payable | 47/48 | €108,201 | €118,803 | +€10,602 | +9.8% |
| Non-recurring operating income | 76A | €1,250 | - | -€1,250 | |
| Remuneration, social security and pensions | 62 | €72,033 | €72,436 | +€403 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,357 | €24,251 | +€894 | +3.8% |
| Other operating charges | 640/8 | €2,879 | €2,947 | +€68 | +2.4% |
| Gross operating margin | 9900 | €362,494 | €344,697 | -€17,797 | -4.9% |
| Operating profit (loss) | 9901 | €264,225 | €245,064 | -€19,162 | -7.3% |
| Financial income | 75/76B | €18,713 | €22,773 | +€4,060 | +21.7% |
| Recurring financial income | 75 | €18,713 | €22,773 | +€4,060 | +21.7% |
| Financial charges | 65/66B | €2,488 | €1,969 | -€519 | -20.9% |
| Recurring financial charges | 65 | €2,488 | €1,969 | -€519 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €280,450 | €265,867 | -€14,583 | -5.2% |
| Income taxes | 67/77 | €90,058 | €84,797 | -€5,261 | -5.8% |
| Profit (loss) for the period | 9904 | €190,392 | €181,070 | -€9,321 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €190,392 | €181,070 | -€9,321 | -4.9% |
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 1 November 2026 via checked.be.