GAFACO: 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.
GAFACO
Largest movements
- Tangible fixed assets -€7,084
down €7,084 (-1.5%), from €476,287 to €469,204
of which Land and buildings: -€6,984
- Cash +€6,196
up €6,196 (+59.2%), from €10,465 to €16,660
mainly Other debts (+€18,126) and Depreciation (+€7,084)
- Profit (loss) carried forward -€20,059
down €20,059 (-14.9%), from -€134,292 to -€154,351
- Other debts +€18,126
up €18,126 (+12.7%), from €142,815 to €160,941
- Gross operating margin -€7,797
down €7,797 (-28.5%), from €27,340 to €19,543
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 | €490,944 | €489,364 | -€1,580 | -0.3% |
| Fixed assets | 21/28 | €476,287 | €469,204 | -€7,084 | -1.5% |
| Tangible fixed assets | 22/27 | €476,287 | €469,204 | -€7,084 | -1.5% |
| Land and buildings | 22 | €475,933 | €468,949 | -€6,984 | -1.5% |
| Plant, machinery and equipment | 23 | €354 | €255 | -€99 | -28.0% |
| Current assets | 29/58 | €14,656 | €20,160 | +€5,504 | +37.6% |
| Amounts receivable within one year | 40/41 | €3,143 | €2,385 | -€758 | -24.1% |
| Trade receivables | 40 | €3,143 | €2,385 | -€758 | -24.1% |
| Cash at bank and in hand | 54/58 | €10,465 | €16,660 | +€6,196 | +59.2% |
| Deferred charges and accrued income | 490/1 | €1,049 | €1,114 | +€66 | +6.2% |
| Total equity and liabilities | 10/49 | €490,944 | €489,364 | -€1,580 | -0.3% |
| Equity | 10/15 | -€52,200 | -€72,259 | -€20,059 | -38.4% |
| Contributions | 10/11 | €79,901 | €79,901 | = | 0.0% |
| Reserves | 13 | €2,191 | €2,191 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €331 | €331 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,292 | -€154,351 | -€20,059 | -14.9% |
| Amounts payable | 17/49 | €543,144 | €561,623 | +€18,479 | +3.4% |
| Amounts payable after more than one year | 17 | €390,000 | €390,000 | = | 0.0% |
| Other amounts payable | 178/9 | €390,000 | €390,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €153,144 | €171,623 | +€18,479 | +12.1% |
| Trade debts | 44 | €1,477 | €1,678 | +€201 | +13.6% |
| Suppliers | 440/4 | €1,477 | €1,678 | +€201 | +13.6% |
| Taxes, remuneration and social security | 45 | €8,852 | €9,003 | +€152 | +1.7% |
| Taxes | 450/3 | €8,852 | €9,003 | +€152 | +1.7% |
| Other amounts payable | 47/48 | €142,815 | €160,941 | +€18,126 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,084 | €7,084 | = | 0.0% |
| Other operating charges | 640/8 | €6,284 | €6,382 | +€98 | +1.6% |
| Gross operating margin | 9900 | €27,340 | €19,543 | -€7,797 | -28.5% |
| Operating profit (loss) | 9901 | €13,972 | €6,078 | -€7,895 | -56.5% |
| Financial income | 75/76B | €16 | €11 | -€6 | -34.2% |
| Recurring financial income | 75 | €16 | €11 | -€6 | -34.2% |
| Financial charges | 65/66B | €26,263 | €26,149 | -€115 | -0.4% |
| Recurring financial charges | 65 | €26,263 | €26,149 | -€115 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,275 | -€20,060 | -€7,785 | -63.4% |
| Income taxes | 67/77 | €5 | -€2 | -€6 | |
| Profit (loss) for the period | 9904 | -€12,280 | -€20,059 | -€7,779 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,280 | -€20,059 | -€7,779 | -63.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.