GADA: 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.
GADA
Largest movements
- Current investments +€4.2m
up €4.2m (+9.4%), from €44.8m to €49.0m
- Receivables within one year +€2.3m
up €2.3m (+148%), from €1.6m to €3.9m
of which Other amounts receivable: +€2.3m
- Receivables after one year -€2.2m
down €2.2m (-41.5%), from €5.2m to €3.0m
- Cash -€829,833
down €829,833 (-26.9%), from €3.1m to €2.3m
mainly Current investments (-€4.2m) and Receivables within one year (-€2.3m)
- Reserves +€3.6m
up €3.6m (+6.1%), from €58.2m to €61.8m
of which Distributable reserves: +€3.6m
- Financial income +€728,852
up €728,852 (+23.8%), from €3.1m to €3.8m
- Financial charges -€160,931
down €160,931 (-83.4%), from €192,920 to €31,988
- Taxes -€42,290
down €42,290 (-9.3%), from €454,633 to €412,343
of which Taxes: -€39,359
- Turnover +€15,396
up €15,396 (+2.4%), from €647,400 to €662,796
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 | €58,352,221 | €61,928,764 | +€3.6m | +6.1% |
| Fixed assets | 21/28 | €3,608,655 | €3,608,655 | = | 0.0% |
| Financial fixed assets | 28 | €3,608,655 | €3,608,655 | = | 0.0% |
| Affiliated companies | 280/1 | €3,608,636 | €3,608,636 | = | 0.0% |
| Participating interests | 280 | €3,608,636 | €3,608,636 | = | 0.0% |
| Other financial fixed assets | 284/8 | €20 | €20 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €54,743,565 | €58,320,109 | +€3.6m | +6.5% |
| Amounts receivable after more than one year | 29 | €5,183,569 | €3,033,088 | -€2.2m | -41.5% |
| Other amounts receivable | 291 | €5,183,569 | €3,033,088 | -€2.2m | -41.5% |
| Amounts receivable within one year | 40/41 | €1,557,562 | €3,866,464 | +€2.3m | +148% |
| Trade receivables | 40 | €65,764 | €67,900 | +€2,137 | +3.2% |
| Other amounts receivable | 41 | €1,491,798 | €3,798,564 | +€2.3m | +155% |
| Current investments | 50/53 | €44,820,258 | €49,020,904 | +€4.2m | +9.4% |
| Other investments | 51/53 | €44,820,258 | €49,020,904 | +€4.2m | +9.4% |
| Cash at bank and in hand | 54/58 | €3,088,914 | €2,259,081 | -€829,833 | -26.9% |
| Deferred charges and accrued income | 490/1 | €93,262 | €140,572 | +€47,309 | +50.7% |
| Total equity and liabilities | 10/49 | €58,352,221 | €61,928,764 | +€3.6m | +6.1% |
| Equity | 10/15 | €58,296,224 | €61,860,044 | +€3.6m | +6.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €58,234,224 | €61,798,044 | +€3.6m | +6.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €58,228,024 | €61,791,844 | +€3.6m | +6.1% |
| Amounts payable | 17/49 | €55,996 | €68,720 | +€12,723 | +22.7% |
| Amounts payable within one year | 42/48 | €55,996 | €68,720 | +€12,723 | +22.7% |
| Trade debts | 44 | €22,418 | €34,209 | +€11,791 | +52.6% |
| Suppliers | 440/4 | €22,418 | €34,209 | +€11,791 | +52.6% |
| Taxes, remuneration and social security | 45 | €33,578 | €34,510 | +€932 | +2.8% |
| Taxes | 450/3 | €33,578 | €34,510 | +€932 | +2.8% |
| Operating income | 70/76A | €647,400 | €662,796 | +€15,396 | +2.4% |
| Turnover | 70 | €647,400 | €662,796 | +€15,396 | +2.4% |
| Operating charges | 60/66A | €437,498 | €443,036 | +€5,538 | +1.3% |
| Services and other goods | 61 | €417,414 | €419,432 | +€2,018 | +0.5% |
| Other operating charges | 640/8 | €20,085 | €23,604 | +€3,519 | +17.5% |
| Operating profit (loss) | 9901 | €209,902 | €219,760 | +€9,858 | +4.7% |
| Financial income | 75/76B | €3,059,540 | €3,788,392 | +€728,852 | +23.8% |
| Recurring financial income | 75 | €3,059,540 | €3,788,392 | +€728,852 | +23.8% |
| Income from financial fixed assets | 750 | €677,600 | €677,600 | = | 0.0% |
| Income from current assets | 751 | €2,381,940 | €3,110,792 | +€728,852 | +30.6% |
| Financial charges | 65/66B | €192,920 | €31,988 | -€160,931 | -83.4% |
| Recurring financial charges | 65 | €192,920 | €31,988 | -€160,931 | -83.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €151,870 | - | -€151,870 | |
| Other financial charges | 652/9 | €41,050 | €31,988 | -€9,061 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €3,076,522 | €3,976,163 | +€899,641 | +29.2% |
| Income taxes | 67/77 | €454,633 | €412,343 | -€42,290 | -9.3% |
| Taxes | 670/3 | €454,993 | €415,634 | -€39,359 | -8.7% |
| Tax adjustments and reversals of tax provisions | 77 | €360 | €3,291 | +€2,931 | +815% |
| Profit (loss) for the period | 9904 | €2,621,889 | €3,563,820 | +€941,931 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,621,889 | €3,563,820 | +€941,931 | +35.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.