GADOC: 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.
GADOC
Largest movements
- Cash +€49,529
up €49,529 (+15.1%), from €327,683 to €377,212
mainly Net result for the year (+€72,710) and Depreciation (+€19,907)
- Intangible fixed assets -€14,190
down €14,190 (-36.4%), from €39,023 to €24,833
- Reserves +€33,710
up €33,710 (+13.6%), from €248,650 to €282,360
- Tax, wage and social debts +€18,396
up €18,396 (+242.4%), from €7,589 to €25,985
- Debts after one year -€14,796
down €14,796 (-44.1%), from €33,566 to €18,770
- Gross operating margin +€12,562
up €12,562 (+12.3%), from €102,499 to €115,061
- Depreciation -€4,780
down €4,780 (-19.4%), from €24,687 to €19,907
- Taxes +€4,562
up €4,562 (+23.7%), from €19,241 to €23,803
- Financial income -€2,763
down €2,763 (-50.2%), from €5,507 to €2,744
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 | €419,309 | €453,467 | +€34,158 | +8.1% |
| Fixed assets | 21/28 | €88,166 | €73,755 | -€14,410 | -16.3% |
| Intangible fixed assets | 21 | €39,023 | €24,833 | -€14,190 | -36.4% |
| Tangible fixed assets | 22/27 | €49,143 | €48,923 | -€220 | -0.4% |
| Land and buildings | 22 | €47,175 | €43,475 | -€3,700 | -7.8% |
| Furniture and vehicles | 24 | €1,968 | €5,448 | +€3,480 | +176.8% |
| Current assets | 29/58 | €331,143 | €379,711 | +€48,568 | +14.7% |
| Amounts receivable within one year | 40/41 | €955 | - | -€955 | |
| Other amounts receivable | 41 | €955 | - | -€955 | |
| Cash at bank and in hand | 54/58 | €327,683 | €377,212 | +€49,529 | +15.1% |
| Deferred charges and accrued income | 490/1 | €2,505 | €2,500 | -€5 | -0.2% |
| Total equity and liabilities | 10/49 | €419,309 | €453,467 | +€34,158 | +8.1% |
| Equity | 10/15 | €344,383 | €374,960 | +€30,577 | +8.9% |
| Contributions | 10/11 | €92,600 | €92,600 | = | 0.0% |
| Reserves | 13 | €248,650 | €282,360 | +€33,710 | +13.6% |
| Distributable reserves | 133 | €248,650 | €282,360 | +€33,710 | +13.6% |
| Profit (loss) carried forward | 14 | €3,133 | - | -€3,133 | |
| Amounts payable | 17/49 | €74,926 | €78,507 | +€3,582 | +4.8% |
| Amounts payable after more than one year | 17 | €33,566 | €18,770 | -€14,796 | -44.1% |
| Financial debts | 170/4 | €33,566 | €18,770 | -€14,796 | -44.1% |
| Amounts payable within one year | 42/48 | €41,359 | €59,737 | +€18,378 | +44.4% |
| Current portion of amounts payable after more than one year | 42 | €15,866 | €16,059 | +€192 | +1.2% |
| Trade debts | 44 | €220 | €79 | -€141 | -63.9% |
| Suppliers | 440/4 | €220 | €79 | -€141 | -63.9% |
| Taxes, remuneration and social security | 45 | €7,589 | €25,985 | +€18,396 | +242.4% |
| Taxes | 450/3 | €7,589 | €25,985 | +€18,396 | +242.4% |
| Other amounts payable | 47/48 | €17,684 | €17,614 | -€70 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,687 | €19,907 | -€4,780 | -19.4% |
| Other operating charges | 640/8 | €646 | €608 | -€38 | -5.9% |
| Gross operating margin | 9900 | €102,499 | €115,061 | +€12,562 | +12.3% |
| Operating profit (loss) | 9901 | €77,166 | €94,546 | +€17,381 | +22.5% |
| Financial income | 75/76B | €5,507 | €2,744 | -€2,763 | -50.2% |
| Recurring financial income | 75 | €5,507 | €2,744 | -€2,763 | -50.2% |
| Financial charges | 65/66B | €1,534 | €777 | -€757 | -49.3% |
| Recurring financial charges | 65 | €1,534 | €777 | -€757 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | €81,139 | €96,513 | +€15,374 | +18.9% |
| Income taxes | 67/77 | €19,241 | €23,803 | +€4,562 | +23.7% |
| Profit (loss) for the period | 9904 | €61,898 | €72,710 | +€10,812 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,898 | €72,710 | +€10,812 | +17.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.