GAC2: 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.
GAC2
Largest movements
- Cash +€43,700
new in 2025: €43,700
mainly Net result for the year (+€32,157) and Tax, wage and social debts (+€14,446)
- Tangible fixed assets -€7,747
down €7,747 (-21.3%), from €36,423 to €28,676
of which Furniture and vehicles: -€13,987
- Receivables within one year -€1,420
down €1,420 (-86.7%), from €1,637 to €218
- Profit (loss) carried forward +€32,157
up €32,157, from -€7,830 to €24,327
- Tax, wage and social debts +€14,446
up €14,446 (+217.6%), from €6,639 to €21,086
of which Taxes: +€16,513
- Other debts -€11,032
down €11,032 (-29.6%), from €37,213 to €26,181
- Trade debts -€1,037
no longer reported in 2025 (was €1,037)
- Gross operating margin +€56,336
up €56,336, from -€2,207 to €54,129
- Depreciation +€8,646
up €8,646 (+156.1%), from €5,539 to €14,185
- Taxes +€7,500
new in 2025: €7,500
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 | €38,061 | €72,594 | +€34,533 | +90.7% |
| Fixed assets | 21/28 | €36,423 | €28,676 | -€7,747 | -21.3% |
| Tangible fixed assets | 22/27 | €36,423 | €28,676 | -€7,747 | -21.3% |
| Furniture and vehicles | 24 | €36,423 | €22,436 | -€13,987 | -38.4% |
| Other tangible fixed assets | 26 | - | €6,240 | +€6,240 | |
| Current assets | 29/58 | €1,637 | €43,918 | +€42,281 | +2582.4% |
| Amounts receivable within one year | 40/41 | €1,637 | €218 | -€1,420 | -86.7% |
| Other amounts receivable | 41 | €1,637 | €218 | -€1,420 | -86.7% |
| Cash at bank and in hand | 54/58 | - | €43,700 | +€43,700 | |
| Total equity and liabilities | 10/49 | €38,061 | €72,594 | +€34,533 | +90.7% |
| Equity | 10/15 | -€6,830 | €25,327 | +€32,157 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,830 | €24,327 | +€32,157 | |
| Amounts payable | 17/49 | €44,891 | €47,267 | +€2,376 | +5.3% |
| Amounts payable within one year | 42/48 | €44,889 | €47,267 | +€2,378 | +5.3% |
| Trade debts | 44 | €1,037 | - | -€1,037 | |
| Suppliers | 440/4 | €1,037 | - | -€1,037 | |
| Taxes, remuneration and social security | 45 | €6,639 | €21,086 | +€14,446 | +217.6% |
| Taxes | 450/3 | €4,573 | €21,086 | +€16,513 | +361.1% |
| Remuneration and social security | 454/9 | €2,066 | - | -€2,066 | |
| Other amounts payable | 47/48 | €37,213 | €26,181 | -€11,032 | -29.6% |
| Accrued charges and deferred income | 492/3 | €2 | - | -€2 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,539 | €14,185 | +€8,646 | +156.1% |
| Other operating charges | 640/8 | - | €127 | +€127 | |
| Non-recurring operating charges | 66A | €42 | - | -€42 | |
| Gross operating margin | 9900 | -€2,207 | €54,129 | +€56,336 | |
| Operating profit (loss) | 9901 | -€7,789 | €39,817 | +€47,606 | |
| Financial charges | 65/66B | €41 | €160 | +€119 | +286.9% |
| Recurring financial charges | 65 | €41 | €160 | +€119 | +286.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,830 | €39,657 | +€47,487 | |
| Income taxes | 67/77 | - | €7,500 | +€7,500 | |
| Profit (loss) for the period | 9904 | -€7,830 | €32,157 | +€39,987 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,830 | €32,157 | +€39,987 |
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 2 October 2026 via checked.be.