GAGAN: 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.
GAGAN
Largest movements
- Receivables within one year +€11,264
up €11,264 (+199%), from €5,647 to €16,911
of which Other amounts receivable: +€11,264
- Tangible fixed assets -€2,770
down €2,770 (-46.4%), from €5,968 to €3,197
of which Plant, machinery and equipment: -€2,770
- Stocks and contracts +€1,675
up €1,675 (+13.9%), from €12,039 to €13,713
- Cash +€1,372
up €1,372 (+139%), from €989 to €2,361
mainly Net result for the year (+€7,544) and Trade debts (+€7,147)
- Deferred charges and accrued income +€583
up €583, from €0 to €583
- Profit (loss) carried forward +€7,544
up €7,544, from -€3,273 to €4,271
- Trade debts +€7,147
up €7,147 (+639%), from €1,118 to €8,265
- Debts after one year -€2,297
down €2,297 (-40.8%), from €5,630 to €3,333
- Gross operating margin +€4,844
up €4,844 (+62.8%), from €7,707 to €12,551
- Depreciation -€2,290
down €2,290 (-43.1%), from €5,314 to €3,024
- Financial income +€406
up €406 (+101%), from €404 to €810
- Other operating charges +€400
up €400 (+49.0%), from €816 to €1,217
- Financial charges +€240
up €240 (+17.9%), from €1,336 to €1,576
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 | €24,896 | €36,766 | +€11,870 | +47.7% |
| Fixed assets | 21/28 | €6,221 | €3,197 | -€3,024 | -48.6% |
| Intangible fixed assets | 21 | €253 | €0 | -€253 | -100% |
| Tangible fixed assets | 22/27 | €5,968 | €3,197 | -€2,770 | -46.4% |
| Plant, machinery and equipment | 23 | €5,968 | €3,197 | -€2,770 | -46.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €18,675 | €33,569 | +€14,894 | +79.8% |
| Stocks and contracts in progress | 3 | €12,039 | €13,713 | +€1,675 | +13.9% |
| Stocks | 30/36 | €12,039 | €13,713 | +€1,675 | +13.9% |
| Amounts receivable within one year | 40/41 | €5,647 | €16,911 | +€11,264 | +199% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,647 | €16,911 | +€11,264 | +199% |
| Cash at bank and in hand | 54/58 | €989 | €2,361 | +€1,372 | +139% |
| Deferred charges and accrued income | 490/1 | €0 | €583 | +€583 | |
| Total equity and liabilities | 10/49 | €24,896 | €36,766 | +€11,870 | +47.7% |
| Equity | 10/15 | €15,327 | €22,871 | +€7,544 | +49.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,273 | €4,271 | +€7,544 | |
| Amounts payable | 17/49 | €9,569 | €13,895 | +€4,326 | +45.2% |
| Amounts payable after more than one year | 17 | €5,630 | €3,333 | -€2,297 | -40.8% |
| Financial debts | 170/4 | €5,630 | €3,333 | -€2,297 | -40.8% |
| Amounts payable within one year | 42/48 | €3,593 | €10,562 | +€6,969 | +194% |
| Current portion of amounts payable after more than one year | 42 | €2,253 | €2,297 | +€45 | +2.0% |
| Trade debts | 44 | €1,118 | €8,265 | +€7,147 | +639% |
| Suppliers | 440/4 | €1,118 | €8,265 | +€7,147 | +639% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €223 | €0 | -€223 | -100% |
| Accrued charges and deferred income | 492/3 | €346 | €0 | -€346 | -100% |
| Non-recurring operating income | 76A | €6,705 | €0 | -€6,705 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,314 | €3,024 | -€2,290 | -43.1% |
| Other operating charges | 640/8 | €816 | €1,217 | +€400 | +49.0% |
| Gross operating margin | 9900 | €7,707 | €12,551 | +€4,844 | +62.8% |
| Operating profit (loss) | 9901 | €1,576 | €8,310 | +€6,734 | +427% |
| Financial income | 75/76B | €404 | €810 | +€406 | +101% |
| Recurring financial income | 75 | €404 | €810 | +€406 | +101% |
| Financial charges | 65/66B | €1,336 | €1,576 | +€240 | +17.9% |
| Recurring financial charges | 65 | €1,336 | €1,576 | +€240 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €644 | €7,544 | +€6,900 | +1,071% |
| Profit (loss) for the period | 9904 | €644 | €7,544 | +€6,900 | +1,071% |
| Profit (loss) for the period to be appropriated | 9905 | €644 | €7,544 | +€6,900 | +1,071% |
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 13 October 2026 via checked.be.