GACO: 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.
GACO
Largest movements
- Cash -€26,466
down €26,466 (-10.0%), from €264,290 to €237,825
mainly Contributions, distributions and other (-€28,810) and Net result for the year (-€7,726)
- Tangible fixed assets -€10,295
down €10,295 (-1.7%), from €615,292 to €604,996
of which Land and buildings: -€9,408
- Reserves -€30,810
down €30,810 (-14.5%), from €213,007 to €182,197
of which Distributable reserves: -€30,810
- Gross operating margin +€4,379
up €4,379, from -€1,425 to €2,955
- Financial income +€586
up €586 (+54.4%), from €1,077 to €1,663
- Other operating charges +€580
up €580 (+41.8%), from €1,388 to €1,969
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €884,174 | €845,790 | -€38,384 | -4.3% |
| Fixed assets | 21/28 | €615,292 | €604,996 | -€10,295 | -1.7% |
| Tangible fixed assets | 22/27 | €615,292 | €604,996 | -€10,295 | -1.7% |
| Land and buildings | 22 | €391,524 | €382,116 | -€9,408 | -2.4% |
| Plant, machinery and equipment | 23 | €7,870 | €6,983 | -€887 | -11.3% |
| Other tangible fixed assets | 26 | €215,897 | €215,897 | = | 0.0% |
| Current assets | 29/58 | €268,883 | €240,794 | -€28,089 | -10.4% |
| Amounts receivable within one year | 40/41 | €4,232 | €2,593 | -€1,640 | -38.7% |
| Other amounts receivable | 41 | €4,232 | €2,593 | -€1,640 | -38.7% |
| Cash at bank and in hand | 54/58 | €264,290 | €237,825 | -€26,466 | -10.0% |
| Deferred charges and accrued income | 490/1 | €360 | €376 | +€17 | +4.6% |
| Total equity and liabilities | 10/49 | €884,174 | €845,790 | -€38,384 | -4.3% |
| Equity | 10/15 | €881,146 | €844,610 | -€36,536 | -4.1% |
| Contributions | 10/11 | €661,973 | €661,973 | = | 0.0% |
| Capital | 10 | €661,973 | €661,973 | = | 0.0% |
| Issued capital | 100 | €661,973 | €661,973 | = | 0.0% |
| Reserves | 13 | €213,007 | €182,197 | -€30,810 | -14.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €206,810 | €176,000 | -€30,810 | -14.9% |
| Profit (loss) carried forward | 14 | €6,165 | €439 | -€5,726 | -92.9% |
| Amounts payable | 17/49 | €3,028 | €1,180 | -€1,848 | -61.0% |
| Amounts payable within one year | 42/48 | €3,028 | €1,180 | -€1,848 | -61.0% |
| Trade debts | 44 | €3,028 | €1,180 | -€1,848 | -61.0% |
| Suppliers | 440/4 | €3,028 | €1,180 | -€1,848 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,295 | €10,295 | = | 0.0% |
| Other operating charges | 640/8 | €1,388 | €1,969 | +€580 | +41.8% |
| Gross operating margin | 9900 | -€1,425 | €2,955 | +€4,379 | |
| Operating profit (loss) | 9901 | -€13,108 | -€9,309 | +€3,799 | +29.0% |
| Financial income | 75/76B | €1,077 | €1,663 | +€586 | +54.4% |
| Recurring financial income | 75 | €1,077 | €1,663 | +€586 | +54.4% |
| Financial charges | 65/66B | €78 | €80 | +€2 | +2.2% |
| Recurring financial charges | 65 | €78 | €80 | +€2 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,109 | -€7,726 | +€4,383 | +36.2% |
| Profit (loss) for the period | 9904 | -€12,109 | -€7,726 | +€4,383 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,109 | -€7,726 | +€4,383 | +36.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.