GAKU: 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.
GAKU
Largest movements
- Tangible fixed assets -€48,356
down €48,356 (-7.6%), from €637,804 to €589,448
of which Land and buildings: -€36,383
- Cash +€29,927
up €29,927 (+381%), from €7,847 to €37,774
mainly Depreciation (+€54,413) and Current portion of long-term debt (+€15,531)
- Receivables within one year -€13,770
down €13,770 (-47.6%), from €28,948 to €15,178
of which Trade receivables: -€18,608
- Debts after one year -€49,863
down €49,863 (-9.0%), from €553,347 to €503,484
- Current portion of long-term debt +€15,531
up €15,531 (+33.0%), from €47,074 to €62,604
- Staff costs +€18,215
up €18,215 (+686%), from €2,656 to €20,871
- Gross operating margin +€7,695
up €7,695 (+8.5%), from €90,800 to €98,495
- Other operating charges +€5,330
up €5,330 (+171%), from €3,124 to €8,454
- Taxes -€2,344
down €2,344 (-49.7%), from €4,721 to €2,377
- Write-downs +€1,750
new in 2025: €1,750
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 | €675,961 | €646,264 | -€29,697 | -4.4% |
| Fixed assets | 21/28 | €638,054 | €589,698 | -€48,356 | -7.6% |
| Tangible fixed assets | 22/27 | €637,804 | €589,448 | -€48,356 | -7.6% |
| Land and buildings | 22 | €572,090 | €535,707 | -€36,383 | -6.4% |
| Plant, machinery and equipment | 23 | €29,275 | €22,755 | -€6,520 | -22.3% |
| Furniture and vehicles | 24 | €36,438 | €30,985 | -€5,453 | -15.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €37,907 | €56,567 | +€18,659 | +49.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €28,948 | €15,178 | -€13,770 | -47.6% |
| Trade receivables | 40 | €26,545 | €7,936 | -€18,608 | -70.1% |
| Other amounts receivable | 41 | €2,404 | €7,242 | +€4,838 | +201% |
| Cash at bank and in hand | 54/58 | €7,847 | €37,774 | +€29,927 | +381% |
| Deferred charges and accrued income | 490/1 | €1,112 | €3,615 | +€2,503 | +225% |
| Total equity and liabilities | 10/49 | €675,961 | €646,264 | -€29,697 | -4.4% |
| Equity | 10/15 | €61,124 | €61,979 | +€855 | +1.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €51,124 | €51,979 | +€855 | +1.7% |
| Distributable reserves | 133 | €51,124 | €51,979 | +€855 | +1.7% |
| Amounts payable | 17/49 | €614,837 | €584,285 | -€30,552 | -5.0% |
| Amounts payable after more than one year | 17 | €553,347 | €503,484 | -€49,863 | -9.0% |
| Financial debts | 170/4 | €553,347 | €503,484 | -€49,863 | -9.0% |
| Amounts payable within one year | 42/48 | €61,236 | €77,358 | +€16,122 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €47,074 | €62,604 | +€15,531 | +33.0% |
| Financial debts | 43 | €212 | €0 | -€212 | -100% |
| Credit institutions | 430/8 | €212 | €0 | -€212 | -100% |
| Trade debts | 44 | €1,746 | €4,032 | +€2,286 | +131% |
| Suppliers | 440/4 | €1,746 | €4,032 | +€2,286 | +131% |
| Taxes, remuneration and social security | 45 | €10,237 | €8,715 | -€1,522 | -14.9% |
| Taxes | 450/3 | €9,981 | €5,998 | -€3,982 | -39.9% |
| Remuneration and social security | 454/9 | €257 | €2,717 | +€2,460 | +959% |
| Other amounts payable | 47/48 | €1,967 | €2,007 | +€40 | +2.0% |
| Accrued charges and deferred income | 492/3 | €254 | €3,444 | +€3,190 | +1,256% |
| Remuneration, social security and pensions | 62 | €2,656 | €20,871 | +€18,215 | +686% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,066 | €54,413 | +€1,347 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,750 | +€1,750 | |
| Other operating charges | 640/8 | €3,124 | €8,454 | +€5,330 | +171% |
| Gross operating margin | 9900 | €90,800 | €98,495 | +€7,695 | +8.5% |
| Operating profit (loss) | 9901 | €31,954 | €13,007 | -€18,947 | -59.3% |
| Financial income | 75/76B | €45 | €0 | -€45 | -100.0% |
| Recurring financial income | 75 | €45 | €0 | -€45 | -100.0% |
| Financial charges | 65/66B | €11,107 | €9,775 | -€1,332 | -12.0% |
| Recurring financial charges | 65 | €11,107 | €9,775 | -€1,332 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €20,892 | €3,232 | -€17,660 | -84.5% |
| Income taxes | 67/77 | €4,721 | €2,377 | -€2,344 | -49.7% |
| Profit (loss) for the period | 9904 | €16,171 | €855 | -€15,316 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,171 | €855 | -€15,316 | -94.7% |
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 1 November 2026 via checked.be.