Gaelens: 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.
Gaelens
Largest movements
- Receivables within one year -€930,098
down €930,098 (-41.2%), from €2.3m to €1.3m
of which Other amounts receivable: -€792,077
- Stocks and contracts -€195,655
down €195,655 (-18.6%), from €1.0m to €854,204
- Cash +€162,170
up €162,170 (+91.8%), from €176,600 to €338,770
mainly Receivables within one year (+€930,098) and Stocks and contracts (+€195,655)
- Other debts -€814,686
down €814,686 (-45.8%), from €1.8m to €964,047
- Trade debts -€173,670
down €173,670 (-44.3%), from €391,779 to €218,109
- Profit (loss) carried forward +€104,499
up €104,499 (+190%), from €54,925 to €159,424
- Short-term financial debts -€72,911
down €72,911 (-32.7%), from €222,911 to €150,000
- Gross operating margin +€178,856
up €178,856, from -€33,722 to €145,134
- Financial charges -€98,570
down €98,570 (-63.2%), from €155,849 to €57,279
- Financial income +€13,453
up €13,453 (+76.3%), from €17,626 to €31,079
- Other operating charges +€11,044
up €11,044 (+869%), from €1,271 to €12,315
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 | €3,520,596 | €2,536,756 | -€983,841 | -27.9% |
| Fixed assets | 21/28 | €34,613 | €8,736 | -€25,877 | -74.8% |
| Tangible fixed assets | 22/27 | €14,947 | €1,819 | -€13,127 | -87.8% |
| Land and buildings | 22 | €11,008 | - | -€11,008 | |
| Furniture and vehicles | 24 | €3,939 | €1,819 | -€2,120 | -53.8% |
| Financial fixed assets | 28 | €19,666 | €6,916 | -€12,750 | -64.8% |
| Current assets | 29/58 | €3,485,983 | €2,528,020 | -€957,963 | -27.5% |
| Stocks and contracts in progress | 3 | €1,049,859 | €854,204 | -€195,655 | -18.6% |
| Stocks | 30/36 | €1,049,859 | €854,204 | -€195,655 | -18.6% |
| Amounts receivable within one year | 40/41 | €2,257,605 | €1,327,506 | -€930,098 | -41.2% |
| Trade receivables | 40 | €255,809 | €117,788 | -€138,021 | -54.0% |
| Other amounts receivable | 41 | €2,001,796 | €1,209,718 | -€792,077 | -39.6% |
| Cash at bank and in hand | 54/58 | €176,600 | €338,770 | +€162,170 | +91.8% |
| Deferred charges and accrued income | 490/1 | €1,919 | €7,540 | +€5,621 | +293% |
| Total equity and liabilities | 10/49 | €3,520,596 | €2,536,756 | -€983,841 | -27.9% |
| Equity | 10/15 | €1,054,925 | €1,159,424 | +€104,499 | +9.9% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,925 | €159,424 | +€104,499 | +190% |
| Amounts payable | 17/49 | €2,465,671 | €1,377,331 | -€1.1m | -44.1% |
| Amounts payable within one year | 42/48 | €2,465,671 | €1,377,331 | -€1.1m | -44.1% |
| Financial debts | 43 | €222,911 | €150,000 | -€72,911 | -32.7% |
| Credit institutions | 430/8 | €222,911 | €150,000 | -€72,911 | -32.7% |
| Trade debts | 44 | €391,779 | €218,109 | -€173,670 | -44.3% |
| Suppliers | 440/4 | €391,779 | €218,109 | -€173,670 | -44.3% |
| Taxes, remuneration and social security | 45 | €72,248 | €45,176 | -€27,073 | -37.5% |
| Taxes | 450/3 | €72,248 | €45,176 | -€27,073 | -37.5% |
| Other amounts payable | 47/48 | €1,778,733 | €964,047 | -€814,686 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,031 | €2,120 | +€89 | +4.4% |
| Other operating charges | 640/8 | €1,271 | €12,315 | +€11,044 | +869% |
| Gross operating margin | 9900 | -€33,722 | €145,134 | +€178,856 | |
| Operating profit (loss) | 9901 | -€37,024 | €130,699 | +€167,723 | |
| Financial income | 75/76B | €17,626 | €31,079 | +€13,453 | +76.3% |
| Recurring financial income | 75 | €17,626 | €31,079 | +€13,453 | +76.3% |
| Financial charges | 65/66B | €155,849 | €57,279 | -€98,570 | -63.2% |
| Recurring financial charges | 65 | €155,849 | €57,279 | -€98,570 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | -€175,246 | €104,499 | +€279,746 | |
| Income taxes | 67/77 | -€133 | - | +€133 | |
| Profit (loss) for the period | 9904 | -€175,113 | €104,499 | +€279,612 | |
| Profit (loss) for the period to be appropriated | 9905 | -€175,113 | €104,499 | +€279,612 |
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 24 October 2026 via checked.be.