GACA: 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.
GACA
Largest movements
- Receivables within one year +€131,050
up €131,050 (+287.6%), from €45,562 to €176,612
of which Other amounts receivable: +€101,204
- Cash +€18,624
up €18,624 (+34.6%), from €53,775 to €72,399
mainly Trade debts (+€79,702) and Net result for the year (+€55,485)
- Stocks and contracts -€5,000
down €5,000 (-44.2%), from €11,315 to €6,315
- Trade debts +€79,702
up €79,702 (+151.5%), from €52,606 to €132,308
- Reserves +€55,485
up €55,485 (+341.1%), from €16,267 to €71,752
- Tax, wage and social debts +€15,123
up €15,123 (+22.0%), from €68,860 to €83,984
- Other debts -€7,328
no longer reported in 2025 (was €7,328)
- Gross operating margin +€55,378
up €55,378 (+228.4%), from €24,242 to €79,620
- Taxes +€10,818
up €10,818 (+249.1%), from €4,343 to €15,160
- Depreciation +€5,689
up €5,689 (+314.3%), from €1,810 to €7,499
- Financial charges -€1,779
down €1,779 (-86.1%), from €2,066 to €287
- Other operating charges +€1,197
up €1,197 (+68.1%), from €1,758 to €2,955
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 | €147,561 | €290,543 | +€142,983 | +96.9% |
| Fixed assets | 21/28 | €36,909 | €35,217 | -€1,692 | -4.6% |
| Tangible fixed assets | 22/27 | €34,389 | €32,697 | -€1,692 | -4.9% |
| Plant, machinery and equipment | 23 | - | €3,040 | +€3,040 | |
| Furniture and vehicles | 24 | €34,389 | €29,657 | -€4,732 | -13.8% |
| Financial fixed assets | 28 | €2,520 | €2,520 | = | 0.0% |
| Current assets | 29/58 | €110,651 | €255,326 | +€144,674 | +130.7% |
| Stocks and contracts in progress | 3 | €11,315 | €6,315 | -€5,000 | -44.2% |
| Stocks | 30/36 | €11,315 | €6,315 | -€5,000 | -44.2% |
| Amounts receivable within one year | 40/41 | €45,562 | €176,612 | +€131,050 | +287.6% |
| Trade receivables | 40 | €45,548 | €75,394 | +€29,846 | +65.5% |
| Other amounts receivable | 41 | €14 | €101,218 | +€101,204 | +704763.2% |
| Cash at bank and in hand | 54/58 | €53,775 | €72,399 | +€18,624 | +34.6% |
| Total equity and liabilities | 10/49 | €147,561 | €290,543 | +€142,983 | +96.9% |
| Equity | 10/15 | €18,767 | €74,252 | +€55,485 | +295.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €16,267 | €71,752 | +€55,485 | +341.1% |
| Distributable reserves | 133 | €16,267 | €71,752 | +€55,485 | +341.1% |
| Amounts payable | 17/49 | €128,794 | €216,291 | +€87,497 | +67.9% |
| Amounts payable within one year | 42/48 | €128,794 | €216,291 | +€87,497 | +67.9% |
| Trade debts | 44 | €52,606 | €132,308 | +€79,702 | +151.5% |
| Suppliers | 440/4 | €52,606 | €132,308 | +€79,702 | +151.5% |
| Taxes, remuneration and social security | 45 | €68,860 | €83,984 | +€15,123 | +22.0% |
| Taxes | 450/3 | €68,860 | €83,984 | +€15,123 | +22.0% |
| Other amounts payable | 47/48 | €7,328 | - | -€7,328 | |
| Remuneration, social security and pensions | 62 | - | €776 | +€776 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,810 | €7,499 | +€5,689 | +314.3% |
| Other operating charges | 640/8 | €1,758 | €2,955 | +€1,197 | +68.1% |
| Gross operating margin | 9900 | €24,242 | €79,620 | +€55,378 | +228.4% |
| Operating profit (loss) | 9901 | €20,674 | €68,390 | +€47,716 | +230.8% |
| Financial income | 75/76B | €2,001 | €2,543 | +€542 | +27.1% |
| Recurring financial income | 75 | €2,001 | €2,543 | +€542 | +27.1% |
| Financial charges | 65/66B | €2,066 | €287 | -€1,779 | -86.1% |
| Recurring financial charges | 65 | €2,066 | €287 | -€1,779 | -86.1% |
| Profit (loss) for the period before taxes | 9903 | €20,609 | €70,646 | +€50,036 | +242.8% |
| Income taxes | 67/77 | €4,343 | €15,160 | +€10,818 | +249.1% |
| Profit (loss) for the period | 9904 | €16,267 | €55,485 | +€39,218 | +241.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,267 | €55,485 | +€39,218 | +241.1% |
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.