GAJ-SERVICES: 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.
GAJ-SERVICES
Largest movements
- Current investments +€60,000
new in 2026: €60,000
- Cash -€39,565
down €39,565 (-27.1%), from €146,048 to €106,483
mainly Contributions, distributions and other (-€85,016) and Current investments (-€60,000)
- Receivables within one year +€11,265
up €11,265 (+49.3%), from €22,862 to €34,127
of which Trade receivables: +€11,376
- Tangible fixed assets -€7,015
down €7,015 (-2.5%), from €285,351 to €278,337
of which Land and buildings: -€8,220
- Reserves +€48,889
up €48,889 (+18.2%), from €268,853 to €317,741
- Other debts -€14,693
down €14,693 (-13.8%), from €106,121 to €91,428
- Debts after one year -€14,187
down €14,187 (-69.9%), from €20,303 to €6,116
- Tax, wage and social debts +€10,350
up €10,350 (+60.1%), from €17,214 to €27,565
- Accrued charges and deferred income -€6,100
down €6,100 (-71.9%), from €8,480 to €2,380
- Financial income +€87,741
up €87,741 (+669%), from €13,119 to €100,861
- Taxes +€9,747
up €9,747 (+59.0%), from €16,512 to €26,259
- Financial charges -€6,861
down €6,861 (-71.5%), from €9,591 to €2,731
- Gross operating margin +€6,067
up €6,067 (+7.9%), from €76,380 to €82,447
- Depreciation +€4,974
up €4,974 (+40.5%), from €12,267 to €17,241
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €458,084 | €482,859 | +€24,776 | +5.4% |
| Fixed assets | 21/28 | €285,351 | €278,337 | -€7,015 | -2.5% |
| Tangible fixed assets | 22/27 | €285,351 | €278,337 | -€7,015 | -2.5% |
| Land and buildings | 22 | €283,764 | €275,544 | -€8,220 | -2.9% |
| Plant, machinery and equipment | 23 | €1,587 | €1,328 | -€259 | -16.3% |
| Furniture and vehicles | 24 | - | €1,465 | +€1,465 | |
| Current assets | 29/58 | €172,733 | €204,523 | +€31,790 | +18.4% |
| Amounts receivable within one year | 40/41 | €22,862 | €34,127 | +€11,265 | +49.3% |
| Trade receivables | 40 | €22,751 | €34,127 | +€11,376 | +50.0% |
| Other amounts receivable | 41 | €111 | €0 | -€111 | -100% |
| Current investments | 50/53 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €146,048 | €106,483 | -€39,565 | -27.1% |
| Deferred charges and accrued income | 490/1 | €3,822 | €3,913 | +€91 | +2.4% |
| Total equity and liabilities | 10/49 | €458,084 | €482,859 | +€24,776 | +5.4% |
| Equity | 10/15 | €288,853 | €337,741 | +€48,889 | +16.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €268,853 | €317,741 | +€48,889 | +18.2% |
| Distributable reserves | 133 | €268,853 | €317,741 | +€48,889 | +18.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €169,231 | €145,118 | -€24,113 | -14.2% |
| Amounts payable after more than one year | 17 | €20,303 | €6,116 | -€14,187 | -69.9% |
| Financial debts | 170/4 | €20,303 | €6,116 | -€14,187 | -69.9% |
| Amounts payable within one year | 42/48 | €140,448 | €136,622 | -€3,826 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €13,516 | €14,187 | +€670 | +5.0% |
| Trade debts | 44 | €3,597 | €3,443 | -€154 | -4.3% |
| Suppliers | 440/4 | €3,597 | €3,443 | -€154 | -4.3% |
| Taxes, remuneration and social security | 45 | €17,214 | €27,565 | +€10,350 | +60.1% |
| Taxes | 450/3 | €17,214 | €27,565 | +€10,350 | +60.1% |
| Other amounts payable | 47/48 | €106,121 | €91,428 | -€14,693 | -13.8% |
| Accrued charges and deferred income | 492/3 | €8,480 | €2,380 | -€6,100 | -71.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,267 | €17,241 | +€4,974 | +40.5% |
| Other operating charges | 640/8 | €4,538 | €3,172 | -€1,366 | -30.1% |
| Gross operating margin | 9900 | €76,380 | €82,447 | +€6,067 | +7.9% |
| Operating profit (loss) | 9901 | €59,575 | €62,034 | +€2,459 | +4.1% |
| Financial income | 75/76B | €13,119 | €100,861 | +€87,741 | +669% |
| Recurring financial income | 75 | €13,119 | €100,861 | +€87,741 | +669% |
| Financial charges | 65/66B | €9,591 | €2,731 | -€6,861 | -71.5% |
| Recurring financial charges | 65 | €9,591 | €2,731 | -€6,861 | -71.5% |
| Profit (loss) for the period before taxes | 9903 | €63,103 | €160,164 | +€97,061 | +154% |
| Income taxes | 67/77 | €16,512 | €26,259 | +€9,747 | +59.0% |
| Profit (loss) for the period | 9904 | €46,591 | €133,905 | +€87,314 | +187% |
| Profit (loss) for the period to be appropriated | 9905 | €46,591 | €133,905 | +€87,314 | +187% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.