GADSBY: 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.
GADSBY
Largest movements
- Receivables within one year -€38,798
down €38,798 (-83.9%), from €46,230 to €7,432
of which Other amounts receivable: -€36,942
- Cash -€18,012
down €18,012 (-49.1%), from €36,664 to €18,652
mainly Net result for the year (-€34,824) and Debts after one year (-€14,843)
- Stocks and contracts +€1,405
up €1,405 (+25.9%), from €5,435 to €6,840
- Profit (loss) carried forward -€34,824
down €34,824 (-252%), from -€13,842 to -€48,666
- Debts after one year -€14,843
down €14,843 (-54.9%), from €27,036 to €12,193
- Tax, wage and social debts -€6,073
down €6,073 (-51.1%), from €11,880 to €5,807
of which Remuneration and social security: -€3,572
- Gross operating margin +€12,134
up €12,134 (+18.7%), from €64,760 to €76,894
- Staff costs +€7,610
up €7,610 (+11.1%), from €68,737 to €76,347
- Other operating charges -€2,652
down €2,652 (-89.2%), from €2,972 to €320
- Depreciation +€1,246
up €1,246 (+84.9%), from €1,468 to €2,714
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 | €109,629 | €53,659 | -€55,970 | -51.1% |
| Fixed assets | 21/28 | €21,300 | €20,735 | -€565 | -2.7% |
| Tangible fixed assets | 22/27 | €21,300 | €20,735 | -€565 | -2.7% |
| Plant, machinery and equipment | 23 | €21,300 | €19,024 | -€2,276 | -10.7% |
| Furniture and vehicles | 24 | - | €1,711 | +€1,711 | |
| Current assets | 29/58 | €88,329 | €32,924 | -€55,405 | -62.7% |
| Stocks and contracts in progress | 3 | €5,435 | €6,840 | +€1,405 | +25.9% |
| Stocks | 30/36 | €5,435 | €6,840 | +€1,405 | +25.9% |
| Amounts receivable within one year | 40/41 | €46,230 | €7,432 | -€38,798 | -83.9% |
| Trade receivables | 40 | €9,288 | €7,432 | -€1,856 | -20.0% |
| Other amounts receivable | 41 | €36,942 | - | -€36,942 | |
| Cash at bank and in hand | 54/58 | €36,664 | €18,652 | -€18,012 | -49.1% |
| Total equity and liabilities | 10/49 | €109,629 | €53,659 | -€55,970 | -51.1% |
| Equity | 10/15 | €6,158 | -€28,666 | -€34,824 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Profit (loss) carried forward | 14 | -€13,842 | -€48,666 | -€34,824 | -252% |
| Amounts payable | 17/49 | €103,471 | €82,325 | -€21,146 | -20.4% |
| Amounts payable after more than one year | 17 | €27,036 | €12,193 | -€14,843 | -54.9% |
| Financial debts | 170/4 | €27,036 | €12,193 | -€14,843 | -54.9% |
| Amounts payable within one year | 42/48 | €76,435 | €70,132 | -€6,303 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €15,915 | €14,844 | -€1,071 | -6.7% |
| Trade debts | 44 | €48,640 | €49,481 | +€841 | +1.7% |
| Suppliers | 440/4 | €48,640 | €49,481 | +€841 | +1.7% |
| Taxes, remuneration and social security | 45 | €11,880 | €5,807 | -€6,073 | -51.1% |
| Taxes | 450/3 | €3,928 | €1,427 | -€2,501 | -63.7% |
| Remuneration and social security | 454/9 | €7,952 | €4,380 | -€3,572 | -44.9% |
| Remuneration, social security and pensions | 62 | €68,737 | €76,347 | +€7,610 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,468 | €2,714 | +€1,246 | +84.9% |
| Other operating charges | 640/8 | €2,972 | €320 | -€2,652 | -89.2% |
| Non-recurring operating charges | 66A | - | €26,400 | +€26,400 | |
| Gross operating margin | 9900 | €64,760 | €76,894 | +€12,134 | +18.7% |
| Operating profit (loss) | 9901 | -€8,417 | -€28,887 | -€20,470 | -243% |
| Financial income | 75/76B | €328 | €434 | +€106 | +32.3% |
| Recurring financial income | 75 | €328 | €434 | +€106 | +32.3% |
| Financial charges | 65/66B | €6,984 | €6,371 | -€613 | -8.8% |
| Recurring financial charges | 65 | €6,984 | €6,371 | -€613 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,073 | -€34,824 | -€19,751 | -131% |
| Profit (loss) for the period | 9904 | -€15,073 | -€34,824 | -€19,751 | -131% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,073 | -€34,824 | -€19,751 | -131% |
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 14 October 2026 via checked.be.