GaePi: 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.
GaePi
Largest movements
- Receivables within one year -€118,321
down €118,321 (-81.3%), from €145,467 to €27,146
- Current investments +€12,285
up €12,285 (+4.8%), from €255,099 to €267,385
- Reserves -€105,000
down €105,000 (-29.5%), from €356,215 to €251,215
of which Non-distributable reserves: -€105,000
- Tax, wage and social debts -€5,458
down €5,458 (-20.4%), from €26,805 to €21,347
- Gross operating margin -€35,856
down €35,856 (-34.7%), from €103,352 to €67,496
- Financial income +€11,484
up €11,484 (+1,085%), from €1,058 to €12,542
- Taxes -€5,458
down €5,458 (-20.4%), from €26,805 to €21,347
- Depreciation -€5,416
down €5,416 (-67.3%), from €8,049 to €2,633
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 | €425,491 | €313,358 | -€112,133 | -26.4% |
| Fixed assets | 21/28 | €13,433 | €10,800 | -€2,633 | -19.6% |
| Tangible fixed assets | 22/27 | €13,433 | €10,800 | -€2,633 | -19.6% |
| Land and buildings | 22 | €12,350 | €10,800 | -€1,550 | -12.6% |
| Furniture and vehicles | 24 | €1,083 | - | -€1,083 | |
| Current assets | 29/58 | €412,058 | €302,558 | -€109,500 | -26.6% |
| Amounts receivable within one year | 40/41 | €145,467 | €27,146 | -€118,321 | -81.3% |
| Other amounts receivable | 41 | €145,467 | €27,146 | -€118,321 | -81.3% |
| Current investments | 50/53 | €255,099 | €267,385 | +€12,285 | +4.8% |
| Cash at bank and in hand | 54/58 | €9,505 | €6,683 | -€2,822 | -29.7% |
| Deferred charges and accrued income | 490/1 | €1,986 | €1,345 | -€642 | -32.3% |
| Total equity and liabilities | 10/49 | €425,491 | €313,358 | -€112,133 | -26.4% |
| Equity | 10/15 | €389,458 | €284,501 | -€104,957 | -26.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €356,215 | €251,215 | -€105,000 | -29.5% |
| Non-distributable reserves | 130/1 | €330,455 | €225,455 | -€105,000 | -31.8% |
| Other | 1319 | €330,455 | €225,455 | -€105,000 | -31.8% |
| Distributable reserves | 133 | €25,760 | €25,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,243 | €32,286 | +€43 | +0.1% |
| Amounts payable | 17/49 | €36,033 | €28,857 | -€7,176 | -19.9% |
| Amounts payable within one year | 42/48 | €36,033 | €28,857 | -€7,176 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €6,892 | €6,846 | -€47 | -0.7% |
| Trade debts | 44 | €150 | €665 | +€515 | +343% |
| Suppliers | 440/4 | €150 | €665 | +€515 | +343% |
| Taxes, remuneration and social security | 45 | €26,805 | €21,347 | -€5,458 | -20.4% |
| Taxes | 450/3 | €26,805 | €21,347 | -€5,458 | -20.4% |
| Other amounts payable | 47/48 | €2,186 | - | -€2,186 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,049 | €2,633 | -€5,416 | -67.3% |
| Other operating charges | 640/8 | €816 | €842 | +€26 | +3.2% |
| Gross operating margin | 9900 | €103,352 | €67,496 | -€35,856 | -34.7% |
| Operating profit (loss) | 9901 | €94,486 | €64,020 | -€30,466 | -32.2% |
| Financial income | 75/76B | €1,058 | €12,542 | +€11,484 | +1,085% |
| Recurring financial income | 75 | €1,058 | €12,542 | +€11,484 | +1,085% |
| Financial charges | 65/66B | €722 | €627 | -€96 | -13.3% |
| Recurring financial charges | 65 | €722 | €627 | -€96 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €94,822 | €75,936 | -€18,887 | -19.9% |
| Income taxes | 67/77 | €26,805 | €21,347 | -€5,458 | -20.4% |
| Profit (loss) for the period | 9904 | €68,017 | €54,588 | -€13,429 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,017 | €54,588 | -€13,429 | -19.7% |
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 19 October 2026 via checked.be.