GADICé: 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.
GADICé
Largest movements
- Receivables within one year +€81,065
up €81,065 (+222.7%), from €36,409 to €117,474
of which Trade receivables: +€80,114
- Cash -€51,642
down €51,642 (-55.5%), from €93,080 to €41,438
mainly Receivables within one year (-€81,065) and Tax, wage and social debts (-€14,786)
- Tangible fixed assets -€10,410
down €10,410 (-29.9%), from €34,776 to €24,366
of which Leasing and similar rights: -€5,710
- Trade debts +€24,727
up €24,727 (+33.1%), from €74,811 to €99,539
- Tax, wage and social debts -€14,786
down €14,786 (-57.6%), from €25,688 to €10,902
- Reserves +€13,324
up €13,324 (+34.2%), from €38,942 to €52,265
- Debts after one year -€4,989
down €4,989 (-31.8%), from €15,668 to €10,678
- Turnover +€512,521
new in 2025: €512,521
- Purchases and services +€486,970
new in 2025: €486,970
- Gross operating margin -€15,853
down €15,853 (-31.1%), from €51,004 to €35,151
- Write-downs -€12,224
no longer reported in 2025 (was €12,224)
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 | €166,393 | €184,874 | +€18,481 | +11.1% |
| Fixed assets | 21/28 | €34,776 | €24,366 | -€10,410 | -29.9% |
| Tangible fixed assets | 22/27 | €34,776 | €24,366 | -€10,410 | -29.9% |
| Plant, machinery and equipment | 23 | €13,125 | €8,425 | -€4,700 | -35.8% |
| Leasing and similar rights | 25 | €21,651 | €15,941 | -€5,710 | -26.4% |
| Current assets | 29/58 | €131,617 | €160,508 | +€28,891 | +22.0% |
| Stocks and contracts in progress | 3 | €1,229 | €521 | -€708 | -57.6% |
| Stocks | 30/36 | €1,229 | €521 | -€708 | -57.6% |
| Amounts receivable within one year | 40/41 | €36,409 | €117,474 | +€81,065 | +222.7% |
| Trade receivables | 40 | €36,409 | €116,523 | +€80,114 | +220.0% |
| Other amounts receivable | 41 | - | €951 | +€951 | |
| Cash at bank and in hand | 54/58 | €93,080 | €41,438 | -€51,642 | -55.5% |
| Deferred charges and accrued income | 490/1 | €899 | €1,074 | +€175 | +19.5% |
| Total equity and liabilities | 10/49 | €166,393 | €184,874 | +€18,481 | +11.1% |
| Equity | 10/15 | €45,442 | €58,765 | +€13,324 | +29.3% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €38,942 | €52,265 | +€13,324 | +34.2% |
| Distributable reserves | 133 | €38,942 | €52,265 | +€13,324 | +34.2% |
| Amounts payable | 17/49 | €120,951 | €126,108 | +€5,157 | +4.3% |
| Amounts payable after more than one year | 17 | €15,668 | €10,678 | -€4,989 | -31.8% |
| Financial debts | 170/4 | €15,668 | €10,678 | -€4,989 | -31.8% |
| Amounts payable within one year | 42/48 | €105,284 | €115,430 | +€10,146 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €4,784 | €4,989 | +€205 | +4.3% |
| Trade debts | 44 | €74,811 | €99,539 | +€24,727 | +33.1% |
| Suppliers | 440/4 | €74,811 | €99,539 | +€24,727 | +33.1% |
| Taxes, remuneration and social security | 45 | €25,688 | €10,902 | -€14,786 | -57.6% |
| Taxes | 450/3 | €25,688 | €10,902 | -€14,786 | -57.6% |
| Turnover | 70 | - | €512,521 | +€512,521 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €486,970 | +€486,970 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,163 | €13,160 | +€997 | +8.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,224 | - | -€12,224 | |
| Other operating charges | 640/8 | €4,278 | €2,658 | -€1,620 | -37.9% |
| Gross operating margin | 9900 | €51,004 | €35,151 | -€15,853 | -31.1% |
| Operating profit (loss) | 9901 | €22,339 | €19,333 | -€3,006 | -13.5% |
| Financial income | 75/76B | €61 | €132 | +€71 | +116.7% |
| Recurring financial income | 75 | €61 | €132 | +€71 | +116.7% |
| Financial charges | 65/66B | €1,895 | €1,005 | -€890 | -47.0% |
| Recurring financial charges | 65 | €1,895 | €1,005 | -€890 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €20,505 | €18,460 | -€2,045 | -10.0% |
| Income taxes | 67/77 | €5,584 | €5,137 | -€447 | -8.0% |
| Profit (loss) for the period | 9904 | €14,921 | €13,324 | -€1,598 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,921 | €13,324 | -€1,598 | -10.7% |
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 8 October 2026 via checked.be.