GAETAN: 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.
GAETAN
Largest movements
- Cash +€18,779
up €18,779 (+2.5%), from €739,984 to €758,763
mainly Other debts (+€33,438) and Stocks and contracts (+€14,068)
- Stocks and contracts -€14,068
down €14,068 (-20.7%), from €67,988 to €53,920
- Other debts +€33,438
up €33,438 (+7.1%), from €469,074 to €502,512
- Reserves -€32,361
down €32,361 (-6.0%), from €538,846 to €506,486
- Gross operating margin -€22,652
down €22,652 (-77.1%), from €29,388 to €6,736
- Financial charges -€2,303
down €2,303 (-6.4%), from €36,064 to €33,762
- Depreciation -€1,857
down €1,857 (-19.5%), from €9,509 to €7,652
- Other operating charges +€1,258
up €1,258 (+86.9%), from €1,448 to €2,706
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 | €1,057,494 | €1,053,114 | -€4,380 | -0.4% |
| Fixed assets | 21/28 | €244,186 | €236,533 | -€7,652 | -3.1% |
| Tangible fixed assets | 22/27 | €244,186 | €236,533 | -€7,652 | -3.1% |
| Land and buildings | 22 | €244,186 | €236,533 | -€7,652 | -3.1% |
| Current assets | 29/58 | €813,308 | €816,580 | +€3,272 | +0.4% |
| Stocks and contracts in progress | 3 | €67,988 | €53,920 | -€14,068 | -20.7% |
| Stocks | 30/36 | €67,988 | €53,920 | -€14,068 | -20.7% |
| Amounts receivable within one year | 40/41 | €3,269 | €1,764 | -€1,505 | -46.0% |
| Trade receivables | 40 | €2,154 | €969 | -€1,185 | -55.0% |
| Other amounts receivable | 41 | €1,116 | €796 | -€320 | -28.7% |
| Cash at bank and in hand | 54/58 | €739,984 | €758,763 | +€18,779 | +2.5% |
| Deferred charges and accrued income | 490/1 | €2,067 | €2,133 | +€67 | +3.2% |
| Total equity and liabilities | 10/49 | €1,057,494 | €1,053,114 | -€4,380 | -0.4% |
| Equity | 10/15 | €557,846 | €525,486 | -€32,361 | -5.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €538,846 | €506,486 | -€32,361 | -6.0% |
| Distributable reserves | 133 | €538,846 | €506,486 | -€32,361 | -6.0% |
| Amounts payable | 17/49 | €499,648 | €527,628 | +€27,980 | +5.6% |
| Amounts payable within one year | 42/48 | €499,648 | €527,628 | +€27,980 | +5.6% |
| Trade debts | 44 | €2,541 | €2,959 | +€418 | +16.5% |
| Suppliers | 440/4 | €2,541 | €2,959 | +€418 | +16.5% |
| Taxes, remuneration and social security | 45 | €28,033 | €22,157 | -€5,876 | -21.0% |
| Taxes | 450/3 | €28,033 | €22,157 | -€5,876 | -21.0% |
| Other amounts payable | 47/48 | €469,074 | €502,512 | +€33,438 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,509 | €7,652 | -€1,857 | -19.5% |
| Other operating charges | 640/8 | €1,448 | €2,706 | +€1,258 | +86.9% |
| Gross operating margin | 9900 | €29,388 | €6,736 | -€22,652 | -77.1% |
| Operating profit (loss) | 9901 | €18,431 | -€3,623 | -€22,054 | |
| Financial income | 75/76B | €5,094 | €5,027 | -€66 | -1.3% |
| Recurring financial income | 75 | €5,094 | €5,027 | -€66 | -1.3% |
| Financial charges | 65/66B | €36,064 | €33,762 | -€2,303 | -6.4% |
| Recurring financial charges | 65 | €36,064 | €33,762 | -€2,303 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,540 | -€32,358 | -€19,817 | -158% |
| Income taxes | 67/77 | - | €3 | +€3 | |
| Profit (loss) for the period | 9904 | -€12,540 | -€32,361 | -€19,820 | -158% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,540 | -€32,361 | -€19,820 | -158% |
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 18 October 2026 via checked.be.