GAELE XL: 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.
GAELE XL
Largest movements
- Tangible fixed assets +€14.1m
new in 2025: €14.1m
- Trade debts +€14.1m
up €14.1m (+6,277,762%), from €225 to €14.1m
- Gross operating margin +€5,933
up €5,933, from -€4,186 to €1,747
- Other operating charges +€333
up €333 (+64.8%), from €513 to €846
- Financial charges +€236
up €236 (+102%), from €231 to €467
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 | €2,579 | €14,118,651 | +€14.1m | +547,342% |
| Fixed assets | 21/28 | - | €14,109,764 | +€14.1m | |
| Intangible fixed assets | 21 | - | €59,334 | +€59,334 | |
| Tangible fixed assets | 22/27 | - | €14,050,430 | +€14.1m | |
| Other tangible fixed assets | 26 | - | €14,050,430 | +€14.1m | |
| Current assets | 29/58 | €2,579 | €8,888 | +€6,309 | +245% |
| Amounts receivable within one year | 40/41 | €1,221 | €5,238 | +€4,017 | +329% |
| Trade receivables | 40 | €0 | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | €1,221 | €238 | -€983 | -80.5% |
| Cash at bank and in hand | 54/58 | €1,358 | €3,649 | +€2,292 | +169% |
| Total equity and liabilities | 10/49 | €2,579 | €14,118,651 | +€14.1m | +547,342% |
| Equity | 10/15 | €832 | €1,266 | +€435 | +52.3% |
| Reserves | 13 | €832 | €1,266 | +€435 | +52.3% |
| Distributable reserves | 133 | €832 | €1,266 | +€435 | +52.3% |
| Amounts payable | 17/49 | €1,747 | €14,117,385 | +€14.1m | +807,877% |
| Amounts payable within one year | 42/48 | €1,747 | €14,117,385 | +€14.1m | +807,877% |
| Trade debts | 44 | €225 | €14,109,496 | +€14.1m | +6,277,762% |
| Suppliers | 440/4 | €225 | €14,109,496 | +€14.1m | +6,277,762% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,523 | €7,889 | +€6,367 | +418% |
| Other operating charges | 640/8 | €513 | €846 | +€333 | +64.8% |
| Gross operating margin | 9900 | -€4,186 | €1,747 | +€5,933 | |
| Operating profit (loss) | 9901 | -€4,699 | €901 | +€5,601 | |
| Financial charges | 65/66B | €231 | €467 | +€236 | +102% |
| Recurring financial charges | 65 | €231 | €467 | +€236 | +102% |
| Profit (loss) for the period before taxes | 9903 | -€4,930 | €435 | +€5,364 | |
| Profit (loss) for the period | 9904 | -€4,930 | €435 | +€5,364 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,930 | €435 | +€5,364 |
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 25 October 2026 via checked.be.