GADU Management: 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.
GADU Management
Largest movements
- Financial fixed assets -€200,000
down €200,000 (-33.3%), from €600,000 to €400,000
- Receivables within one year +€90,634
up €90,634 (+3,021%), from €3,000 to €93,634
of which Other amounts receivable: +€65,634
- Cash +€84,829
up €84,829 (+1,548%), from €5,481 to €90,310
mainly Other debts (+€205,431) and Investment in fixed assets (net) (+€200,000)
- Other debts +€205,431
up €205,431 (+207%), from €99,069 to €304,500
- Debts after one year -€196,894
down €196,894 (-55.6%), from €354,014 to €157,119
- Trade debts +€30,124
up €30,124 (+3,402%), from €885 to €31,009
- Tax, wage and social debts -€27,784
down €27,784 (-85.1%), from €32,637 to €4,853
- Current portion of long-term debt -€26,734
down €26,734 (-43.2%), from €61,838 to €35,104
- Gross operating margin -€54,102
down €54,102 (-45.8%), from €118,100 to €63,997
- Financial charges +€18,103
up €18,103 (+87.2%), from €20,756 to €38,860
of which Non-recurring financial charges: +€20,000
- Taxes -€14,284
down €14,284 (-80.8%), from €17,678 to €3,393
- Other operating charges +€2,195
up €2,195 (+253%), from €868 to €3,063
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 | €612,856 | €587,366 | -€25,489 | -4.2% |
| Fixed assets | 21/28 | €604,374 | €403,422 | -€200,952 | -33.2% |
| Tangible fixed assets | 22/27 | €4,374 | €3,422 | -€952 | -21.8% |
| Furniture and vehicles | 24 | €4,374 | €3,422 | -€952 | -21.8% |
| Financial fixed assets | 28 | €600,000 | €400,000 | -€200,000 | -33.3% |
| Current assets | 29/58 | €8,481 | €183,944 | +€175,463 | +2,069% |
| Amounts receivable within one year | 40/41 | €3,000 | €93,634 | +€90,634 | +3,021% |
| Trade receivables | 40 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 41 | €3,000 | €68,634 | +€65,634 | +2,188% |
| Cash at bank and in hand | 54/58 | €5,481 | €90,310 | +€84,829 | +1,548% |
| Total equity and liabilities | 10/49 | €612,856 | €587,366 | -€25,489 | -4.2% |
| Equity | 10/15 | €64,413 | €54,781 | -€9,632 | -15.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,413 | €53,781 | -€9,632 | -15.2% |
| Amounts payable | 17/49 | €548,443 | €532,585 | -€15,857 | -2.9% |
| Amounts payable after more than one year | 17 | €354,014 | €157,119 | -€196,894 | -55.6% |
| Financial debts | 170/4 | €354,014 | €157,119 | -€196,894 | -55.6% |
| Amounts payable within one year | 42/48 | €194,429 | €375,466 | +€181,037 | +93.1% |
| Current portion of amounts payable after more than one year | 42 | €61,838 | €35,104 | -€26,734 | -43.2% |
| Trade debts | 44 | €885 | €31,009 | +€30,124 | +3,402% |
| Suppliers | 440/4 | €885 | €31,009 | +€30,124 | +3,402% |
| Taxes, remuneration and social security | 45 | €32,637 | €4,853 | -€27,784 | -85.1% |
| Taxes | 450/3 | €32,637 | €4,853 | -€27,784 | -85.1% |
| Other amounts payable | 47/48 | €99,069 | €304,500 | +€205,431 | +207% |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €952 | +€567 | +147% |
| Other operating charges | 640/8 | €868 | €3,063 | +€2,195 | +253% |
| Gross operating margin | 9900 | €118,100 | €63,997 | -€54,102 | -45.8% |
| Operating profit (loss) | 9901 | €116,847 | €59,982 | -€56,865 | -48.7% |
| Financial income | 75/76B | - | €139 | +€139 | |
| Recurring financial income | 75 | - | €139 | +€139 | |
| Financial charges | 65/66B | €20,756 | €38,860 | +€18,103 | +87.2% |
| Recurring financial charges | 65 | €20,756 | €18,860 | -€1,897 | -9.1% |
| Non-recurring financial charges | 66B | - | €20,000 | +€20,000 | |
| Profit (loss) for the period before taxes | 9903 | €96,090 | €21,262 | -€74,829 | -77.9% |
| Income taxes | 67/77 | €17,678 | €3,393 | -€14,284 | -80.8% |
| Profit (loss) for the period | 9904 | €78,413 | €17,868 | -€60,544 | -77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €78,413 | €17,868 | -€60,544 | -77.2% |
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 20 October 2026 via checked.be.