GAEVAN: what changed
Two fiscal 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.
GAEVAN
Largest movements
- Current investments +€125,000
up €125,000, from €0 to €125,000
- Cash -€93,338
down €93,338 (-96.8%), from €96,440 to €3,102
mainly Contributions, distributions and other (-€128,653) and Current investments (-€125,000)
- Receivables within one year -€81,494
down €81,494 (-46.7%), from €174,664 to €93,170
of which Other amounts receivable: -€76,594
- Tangible fixed assets -€11,554
down €11,554 (-26.5%), from €43,551 to €31,997
- Reserves -€103,987
down €103,987 (-41.7%), from €249,135 to €145,149
- Other debts +€55,303
new in 2025: €55,303
- Tax, wage and social debts -€11,814
down €11,814 (-37.1%), from €31,814 to €20,001
- Other operating charges +€18,010
up €18,010 (+1159.4%), from €1,553 to €19,563
- Gross operating margin -€4,285
down €4,285 (-5.5%), from €77,785 to €73,501
- Taxes +€2,218
up €2,218 (+15.6%), from €14,189 to €16,407
- Financial income -€1,259
down €1,259 (-43.1%), from €2,919 to €1,660
- Financial charges +€1,175
up €1,175 (+668.7%), from €176 to €1,351
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.
Cash bridge derived
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 | €315,425 | €254,770 | -€60,655 | -19.2% |
| Fixed assets | 21/28 | €43,551 | €31,997 | -€11,554 | -26.5% |
| Tangible fixed assets | 22/27 | €43,551 | €31,997 | -€11,554 | -26.5% |
| Furniture and vehicles | 24 | €43,551 | €31,997 | -€11,554 | -26.5% |
| Current assets | 29/58 | €271,874 | €222,774 | -€49,100 | -18.1% |
| Amounts receivable within one year | 40/41 | €174,664 | €93,170 | -€81,494 | -46.7% |
| Trade receivables | 40 | €98,070 | €93,170 | -€4,900 | -5.0% |
| Other amounts receivable | 41 | €76,594 | €0 | -€76,594 | -100.0% |
| Current investments | 50/53 | €0 | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €96,440 | €3,102 | -€93,338 | -96.8% |
| Deferred charges and accrued income | 490/1 | €770 | €1,501 | +€732 | +95.1% |
| Total equity and liabilities | 10/49 | €315,425 | €254,770 | -€60,655 | -19.2% |
| Equity | 10/15 | €251,635 | €147,649 | -€103,987 | -41.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €249,135 | €145,149 | -€103,987 | -41.7% |
| Distributable reserves | 133 | €249,135 | €145,149 | -€103,987 | -41.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €63,790 | €107,122 | +€43,332 | +67.9% |
| Amounts payable within one year | 42/48 | €32,153 | €75,722 | +€43,569 | +135.5% |
| Trade debts | 44 | €338 | €418 | +€79 | +23.5% |
| Suppliers | 440/4 | €338 | €418 | +€79 | +23.5% |
| Taxes, remuneration and social security | 45 | €31,814 | €20,001 | -€11,814 | -37.1% |
| Taxes | 450/3 | €31,814 | €20,001 | -€11,814 | -37.1% |
| Other amounts payable | 47/48 | - | €55,303 | +€55,303 | |
| Accrued charges and deferred income | 492/3 | €31,637 | €31,400 | -€237 | -0.8% |
| Non-recurring operating income | 76A | - | €4,693 | +€4,693 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,082 | €13,173 | +€91 | +0.7% |
| Other operating charges | 640/8 | €1,553 | €19,563 | +€18,010 | +1159.4% |
| Gross operating margin | 9900 | €77,785 | €73,501 | -€4,285 | -5.5% |
| Operating profit (loss) | 9901 | €63,150 | €40,764 | -€22,385 | -35.4% |
| Financial income | 75/76B | €2,919 | €1,660 | -€1,259 | -43.1% |
| Recurring financial income | 75 | €2,919 | €1,660 | -€1,259 | -43.1% |
| Financial charges | 65/66B | €176 | €1,351 | +€1,175 | +668.7% |
| Recurring financial charges | 65 | €176 | €1,351 | +€1,175 | +668.7% |
| Profit (loss) for the period before taxes | 9903 | €65,893 | €41,074 | -€24,819 | -37.7% |
| Income taxes | 67/77 | €14,189 | €16,407 | +€2,218 | +15.6% |
| Profit (loss) for the period | 9904 | €51,704 | €24,667 | -€27,038 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,704 | €24,667 | -€27,038 | -52.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.