Gagel: 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.
Gagel
Largest movements
- Receivables after one year +€542,281
up €542,281 (+33.2%), from €1.6m to €2.2m
- Cash -€100,422
down €100,422 (-99.8%), from €100,624 to €202
mainly Receivables after one year (-€542,281)
- Other debts +€414,460
up €414,460 (+139%), from €298,255 to €712,715
- Financial charges +€5,519
up €5,519 (+103%), from €5,379 to €10,898
- Gross operating margin +€3,178
up €3,178 (+45.0%), from -€7,068 to -€3,890
- Financial income +€2,699
up €2,699 (+5.2%), from €51,840 to €54,539
- Taxes +€105
up €105 (+0.9%), from €12,166 to €12,271
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 | €2,570,517 | €3,012,375 | +€441,859 | +17.2% |
| Fixed assets | 21/28 | €837,574 | €837,574 | = | 0.0% |
| Financial fixed assets | 28 | €837,574 | €837,574 | = | 0.0% |
| Current assets | 29/58 | €1,732,943 | €2,174,801 | +€441,859 | +25.5% |
| Amounts receivable after more than one year | 29 | €1,632,319 | €2,174,599 | +€542,281 | +33.2% |
| Other amounts receivable | 291 | €1,632,319 | €2,174,599 | +€542,281 | +33.2% |
| Cash at bank and in hand | 54/58 | €100,624 | €202 | -€100,422 | -99.8% |
| Total equity and liabilities | 10/49 | €2,570,517 | €3,012,375 | +€441,859 | +17.2% |
| Equity | 10/15 | €2,270,095 | €2,296,391 | +€26,296 | +1.2% |
| Contributions | 10/11 | €170,000 | €170,000 | = | 0.0% |
| Reserves | 13 | €1,531,670 | €1,557,965 | +€26,296 | +1.7% |
| Non-distributable reserves | 130/1 | €17,000 | €17,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €1,514,670 | €1,540,965 | +€26,296 | +1.7% |
| Profit (loss) carried forward | 14 | €568,425 | €568,425 | -€0 | 0.0% |
| Amounts payable | 17/49 | €300,422 | €715,985 | +€415,563 | +138% |
| Amounts payable within one year | 42/48 | €300,422 | €715,985 | +€415,563 | +138% |
| Trade debts | 44 | - | €998 | +€998 | |
| Suppliers | 440/4 | - | €998 | +€998 | |
| Taxes, remuneration and social security | 45 | €2,166 | €2,271 | +€105 | +4.8% |
| Taxes | 450/3 | €2,166 | €2,271 | +€105 | +4.8% |
| Other amounts payable | 47/48 | €298,255 | €712,715 | +€414,460 | +139% |
| Other operating charges | 640/8 | €1,156 | €1,184 | +€28 | +2.4% |
| Gross operating margin | 9900 | -€7,068 | -€3,890 | +€3,178 | +45.0% |
| Operating profit (loss) | 9901 | -€8,224 | -€5,074 | +€3,150 | +38.3% |
| Financial income | 75/76B | €51,840 | €54,539 | +€2,699 | +5.2% |
| Recurring financial income | 75 | €51,840 | €54,539 | +€2,699 | +5.2% |
| Financial charges | 65/66B | €5,379 | €10,898 | +€5,519 | +103% |
| Recurring financial charges | 65 | €5,379 | €10,898 | +€5,519 | +103% |
| Profit (loss) for the period before taxes | 9903 | €38,237 | €38,567 | +€330 | +0.9% |
| Income taxes | 67/77 | €12,166 | €12,271 | +€105 | +0.9% |
| Profit (loss) for the period | 9904 | €26,071 | €26,296 | +€225 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,071 | €26,296 | +€225 | +0.9% |
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 17 October 2026 via checked.be.