GAIN TIME: 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.
GAIN TIME
Largest movements
- Tangible fixed assets -€454,809
down €454,809 (-45.0%), from €1.0m to €555,199
of which Land and buildings: -€450,382
- Deferred charges and accrued income -€127,817
down €127,817 (-99.5%), from €128,467 to €650
- Current investments -€114,375
down €114,375 (-13.2%), from €867,369 to €752,994
- Debts after one year -€695,316
down €695,316 (-68.9%), from €1.0m to €313,786
- Current portion of long-term debt -€70,948
down €70,948 (-54.0%), from €131,482 to €60,534
- Reserves +€60,801
up €60,801 (+5.3%), from €1.1m to €1.2m
of which Distributable reserves: +€60,801
- Taxes +€135,754
up €135,754, from -€56,269 to €79,485
- Gross operating margin -€122,620
down €122,620 (-34.6%), from €354,637 to €232,017
- Financial charges -€78,085
down €78,085 (-63.4%), from €123,101 to €45,017
- Depreciation -€20,478
down €20,478 (-40.7%), from €50,301 to €29,822
- Financial income +€16,487
up €16,487 (+25.3%), from €65,124 to €81,611
of which Financial income: +€51,779
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 | €2,606,769 | €1,899,388 | -€707,381 | -27.1% |
| Fixed assets | 21/28 | €1,410,009 | €955,199 | -€454,809 | -32.3% |
| Tangible fixed assets | 22/27 | €1,010,009 | €555,199 | -€454,809 | -45.0% |
| Land and buildings | 22 | €904,695 | €454,313 | -€450,382 | -49.8% |
| Plant, machinery and equipment | 23 | €13,220 | €27,850 | +€14,630 | +110.7% |
| Furniture and vehicles | 24 | €62,326 | €47,529 | -€14,797 | -23.7% |
| Other tangible fixed assets | 26 | €29,769 | €25,508 | -€4,261 | -14.3% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €1,196,760 | €944,188 | -€252,572 | -21.1% |
| Amounts receivable within one year | 40/41 | €63,375 | €61,336 | -€2,039 | -3.2% |
| Trade receivables | 40 | €3,381 | €3,086 | -€295 | -8.7% |
| Other amounts receivable | 41 | €59,995 | €58,250 | -€1,744 | -2.9% |
| Current investments | 50/53 | €867,369 | €752,994 | -€114,375 | -13.2% |
| Cash at bank and in hand | 54/58 | €137,549 | €129,208 | -€8,340 | -6.1% |
| Deferred charges and accrued income | 490/1 | €128,467 | €650 | -€127,817 | -99.5% |
| Total equity and liabilities | 10/49 | €2,606,769 | €1,899,388 | -€707,381 | -27.1% |
| Equity | 10/15 | €1,418,124 | €1,460,425 | +€42,301 | +3.0% |
| Contributions | 10/11 | €22,000 | €3,500 | -€18,500 | -84.1% |
| Reserves | 13 | €1,149,988 | €1,210,788 | +€60,801 | +5.3% |
| Tax-exempt reserves | 132 | €378,900 | €378,900 | = | 0.0% |
| Distributable reserves | 133 | €771,088 | €831,888 | +€60,801 | +7.9% |
| Profit (loss) carried forward | 14 | €246,137 | €246,137 | = | 0.0% |
| Amounts payable | 17/49 | €1,188,645 | €438,963 | -€749,682 | -63.1% |
| Amounts payable after more than one year | 17 | €1,009,102 | €313,786 | -€695,316 | -68.9% |
| Financial debts | 170/4 | €1,009,102 | €313,786 | -€695,316 | -68.9% |
| Amounts payable within one year | 42/48 | €175,369 | €120,917 | -€54,453 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €131,482 | €60,534 | -€70,948 | -54.0% |
| Trade debts | 44 | €5,272 | €20,843 | +€15,571 | +295.3% |
| Suppliers | 440/4 | €5,272 | €20,843 | +€15,571 | +295.3% |
| Taxes, remuneration and social security | 45 | €14,659 | €39,540 | +€24,881 | +169.7% |
| Taxes | 450/3 | €14,659 | €39,540 | +€24,881 | +169.7% |
| Other amounts payable | 47/48 | €23,957 | €0 | -€23,957 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,174 | €4,260 | +€87 | +2.1% |
| Non-recurring operating income | 76A | - | €917 | +€917 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,301 | €29,822 | -€20,478 | -40.7% |
| Other operating charges | 640/8 | €4,869 | €4,719 | -€150 | -3.1% |
| Non-recurring operating charges | 66A | - | €41,153 | +€41,153 | |
| Gross operating margin | 9900 | €354,637 | €232,017 | -€122,620 | -34.6% |
| Operating profit (loss) | 9901 | €299,468 | €156,323 | -€143,145 | -47.8% |
| Financial income | 75/76B | €65,124 | €81,611 | +€16,487 | +25.3% |
| Recurring financial income | 75 | €29,832 | €81,611 | +€51,779 | +173.6% |
| Non-recurring financial income | 76B | €35,292 | €0 | -€35,292 | -100.0% |
| Financial charges | 65/66B | €123,101 | €45,017 | -€78,085 | -63.4% |
| Recurring financial charges | 65 | €123,101 | €45,017 | -€78,085 | -63.4% |
| Profit (loss) for the period before taxes | 9903 | €241,491 | €192,918 | -€48,573 | -20.1% |
| Income taxes | 67/77 | -€56,269 | €79,485 | +€135,754 | |
| Profit (loss) for the period | 9904 | €297,759 | €113,432 | -€184,327 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €297,759 | €113,432 | -€184,327 | -61.9% |
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 7 October 2026 via checked.be.