GAGELEER: 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.
GAGELEER
Largest movements
- Current investments +€100,985
new in 2025: €100,985
- Cash -€89,396
down €89,396 (-58.4%), from €153,149 to €63,753
mainly Current investments (-€100,985) and Trade debts (-€21,893)
- Receivables within one year -€34,847
down €34,847 (-44.7%), from €77,922 to €43,075
of which Trade receivables: -€40,439
- Trade debts -€21,893
down €21,893 (-70.8%), from €30,915 to €9,022
- Contributions -€3,100
down €3,100 (-16.7%), from €18,600 to €15,500
- Gross operating margin +€136,881
up €136,881 (+99.1%), from -€138,055 to -€1,175
- Financial income +€3,611
up €3,611 (+316%), from €1,142 to €4,752
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 | €234,166 | €209,866 | -€24,300 | -10.4% |
| Current assets | 29/58 | €234,166 | €209,866 | -€24,300 | -10.4% |
| Stocks and contracts in progress | 3 | €2,278 | €1,392 | -€886 | -38.9% |
| Stocks | 30/36 | €2,278 | €1,392 | -€886 | -38.9% |
| Amounts receivable within one year | 40/41 | €77,922 | €43,075 | -€34,847 | -44.7% |
| Trade receivables | 40 | €71,944 | €31,505 | -€40,439 | -56.2% |
| Other amounts receivable | 41 | €5,978 | €11,570 | +€5,592 | +93.5% |
| Current investments | 50/53 | - | €100,985 | +€100,985 | |
| Cash at bank and in hand | 54/58 | €153,149 | €63,753 | -€89,396 | -58.4% |
| Deferred charges and accrued income | 490/1 | €817 | €660 | -€156 | -19.1% |
| Total equity and liabilities | 10/49 | €234,166 | €209,866 | -€24,300 | -10.4% |
| Equity | 10/15 | €198,981 | €197,721 | -€1,260 | -0.6% |
| Contributions | 10/11 | €18,600 | €15,500 | -€3,100 | -16.7% |
| Reserves | 13 | €200,806 | €200,806 | = | 0.0% |
| Distributable reserves | 133 | €200,806 | €200,806 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,425 | -€18,584 | +€1,840 | +9.0% |
| Amounts payable | 17/49 | €35,185 | €12,145 | -€23,040 | -65.5% |
| Amounts payable within one year | 42/48 | €34,525 | €12,057 | -€22,468 | -65.1% |
| Trade debts | 44 | €30,915 | €9,022 | -€21,893 | -70.8% |
| Suppliers | 440/4 | €30,915 | €9,022 | -€21,893 | -70.8% |
| Taxes, remuneration and social security | 45 | €3,500 | €3,035 | -€466 | -13.3% |
| Taxes | 450/3 | €3,500 | €3,035 | -€466 | -13.3% |
| Other amounts payable | 47/48 | €109 | €0 | -€109 | -100% |
| Accrued charges and deferred income | 492/3 | €661 | €88 | -€573 | -86.7% |
| Other operating charges | 640/8 | €595 | €719 | +€123 | +20.7% |
| Gross operating margin | 9900 | -€138,055 | -€1,175 | +€136,881 | +99.1% |
| Operating profit (loss) | 9901 | -€138,651 | -€1,893 | +€136,757 | +98.6% |
| Financial income | 75/76B | €1,142 | €4,752 | +€3,611 | +316% |
| Recurring financial income | 75 | €1,142 | €4,752 | +€3,611 | +316% |
| Financial charges | 65/66B | €135 | €1,018 | +€883 | +654% |
| Recurring financial charges | 65 | €135 | €1,018 | +€883 | +654% |
| Profit (loss) for the period before taxes | 9903 | -€137,644 | €1,840 | +€139,484 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€137,644 | €1,840 | +€139,484 | |
| Profit (loss) for the period to be appropriated | 9905 | -€137,644 | €1,840 | +€139,484 |
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 26 October 2026 via checked.be.