GAETHOFS & CO: 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.
GAETHOFS & CO
Largest movements
- Cash +€52,837
up €52,837 (+147%), from €35,869 to €88,705
mainly Net result for the year (+€66,528) and Trade debts (+€12,618)
- Receivables within one year +€24,988
up €24,988 (+51.2%), from €48,821 to €73,808
of which Trade receivables: +€21,299
- Stocks and contracts -€4,967
down €4,967 (-13.5%), from €36,715 to €31,748
- Reserves +€66,528
up €66,528 (+41.1%), from €161,994 to €228,523
- Accrued charges and deferred income -€17,068
down €17,068 (-87.4%), from €19,527 to €2,459
- Trade debts +€12,618
up €12,618 (+209%), from €6,036 to €18,654
- Tax, wage and social debts +€7,196
up €7,196 (+226%), from €3,188 to €10,384
of which Remuneration and social security: +€8,989
- Gross operating margin +€64,550
up €64,550 (+45.9%), from €140,615 to €205,165
- Staff costs +€18,322
up €18,322 (+16.4%), from €111,788 to €130,110
- Other operating charges -€17,609
down €17,609 (-78.5%), from €22,438 to €4,829
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 | €277,545 | €346,820 | +€69,274 | +25.0% |
| Fixed assets | 21/28 | €148,470 | €146,790 | -€1,680 | -1.1% |
| Tangible fixed assets | 22/27 | €147,501 | €145,821 | -€1,680 | -1.1% |
| Land and buildings | 22 | €138,600 | €136,186 | -€2,415 | -1.7% |
| Plant, machinery and equipment | 23 | €5,948 | €8,468 | +€2,520 | +42.4% |
| Furniture and vehicles | 24 | €2,953 | €1,167 | -€1,786 | -60.5% |
| Financial fixed assets | 28 | €969 | €969 | = | 0.0% |
| Current assets | 29/58 | €129,075 | €200,030 | +€70,955 | +55.0% |
| Stocks and contracts in progress | 3 | €36,715 | €31,748 | -€4,967 | -13.5% |
| Stocks | 30/36 | €36,715 | €31,748 | -€4,967 | -13.5% |
| Amounts receivable within one year | 40/41 | €48,821 | €73,808 | +€24,988 | +51.2% |
| Trade receivables | 40 | €23,334 | €44,633 | +€21,299 | +91.3% |
| Other amounts receivable | 41 | €25,487 | €29,176 | +€3,689 | +14.5% |
| Cash at bank and in hand | 54/58 | €35,869 | €88,705 | +€52,837 | +147% |
| Deferred charges and accrued income | 490/1 | €7,671 | €5,768 | -€1,902 | -24.8% |
| Total equity and liabilities | 10/49 | €277,545 | €346,820 | +€69,274 | +25.0% |
| Equity | 10/15 | €248,794 | €315,323 | +€66,528 | +26.7% |
| Contributions | 10/11 | €86,800 | €86,800 | = | 0.0% |
| Reserves | 13 | €161,994 | €228,523 | +€66,528 | +41.1% |
| Distributable reserves | 133 | €161,994 | €228,523 | +€66,528 | +41.1% |
| Amounts payable | 17/49 | €28,751 | €31,497 | +€2,746 | +9.6% |
| Amounts payable within one year | 42/48 | €9,224 | €29,038 | +€19,814 | +215% |
| Trade debts | 44 | €6,036 | €18,654 | +€12,618 | +209% |
| Suppliers | 440/4 | €6,036 | €18,654 | +€12,618 | +209% |
| Taxes, remuneration and social security | 45 | €3,188 | €10,384 | +€7,196 | +226% |
| Taxes | 450/3 | €2,137 | €345 | -€1,792 | -83.9% |
| Remuneration and social security | 454/9 | €1,051 | €10,039 | +€8,989 | +856% |
| Accrued charges and deferred income | 492/3 | €19,527 | €2,459 | -€17,068 | -87.4% |
| Remuneration, social security and pensions | 62 | €111,788 | €130,110 | +€18,322 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,410 | €4,200 | +€790 | +23.2% |
| Other operating charges | 640/8 | €22,438 | €4,829 | -€17,609 | -78.5% |
| Gross operating margin | 9900 | €140,615 | €205,165 | +€64,550 | +45.9% |
| Operating profit (loss) | 9901 | €2,979 | €66,025 | +€63,046 | +2,116% |
| Financial income | 75/76B | €923 | €937 | +€14 | +1.5% |
| Recurring financial income | 75 | €923 | €937 | +€14 | +1.5% |
| Financial charges | 65/66B | €215 | €215 | +€0 | +0.2% |
| Recurring financial charges | 65 | €215 | €215 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €3,687 | €66,747 | +€63,059 | +1,710% |
| Income taxes | 67/77 | €211 | €218 | +€8 | +3.6% |
| Profit (loss) for the period | 9904 | €3,477 | €66,528 | +€63,052 | +1,814% |
| Profit (loss) for the period to be appropriated | 9905 | €3,477 | €66,528 | +€63,052 | +1,814% |
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.