GAP & C°: 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.
GAP & C°
Largest movements
- Cash +€48,820
up €48,820 (+28.3%), from €172,392 to €221,212
mainly Net result for the year (+€22,895) and Other debts (+€21,583)
- Tangible fixed assets -€11,957
down €11,957 (-92.1%), from €12,980 to €1,023
- Receivables within one year +€2,548
up €2,548 (+18.4%), from €13,859 to €16,407
of which Trade receivables: +€1,717
- Profit (loss) carried forward +€22,895
up €22,895 (+13.7%), from €167,100 to €189,995
- Other debts +€21,583
up €21,583 (+187.2%), from €11,528 to €33,110
- Trade debts -€4,087
down €4,087 (-80.4%), from €5,085 to €997
- Tax, wage and social debts -€3,077
down €3,077 (-44.1%), from €6,977 to €3,900
of which Taxes: -€3,077
- Depreciation -€2,934
down €2,934 (-17.7%), from €16,577 to €13,643
- Gross operating margin -€1,375
down €1,375 (-2.8%), from €48,913 to €47,538
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 | €202,250 | €241,178 | +€38,928 | +19.2% |
| Fixed assets | 21/28 | €12,980 | €1,023 | -€11,957 | -92.1% |
| Tangible fixed assets | 22/27 | €12,980 | €1,023 | -€11,957 | -92.1% |
| Furniture and vehicles | 24 | €12,980 | €1,023 | -€11,957 | -92.1% |
| Current assets | 29/58 | €189,270 | €240,155 | +€50,886 | +26.9% |
| Amounts receivable within one year | 40/41 | €13,859 | €16,407 | +€2,548 | +18.4% |
| Trade receivables | 40 | €6,001 | €7,718 | +€1,717 | +28.6% |
| Other amounts receivable | 41 | €7,858 | €8,689 | +€831 | +10.6% |
| Cash at bank and in hand | 54/58 | €172,392 | €221,212 | +€48,820 | +28.3% |
| Deferred charges and accrued income | 490/1 | €3,019 | €2,537 | -€482 | -16.0% |
| Total equity and liabilities | 10/49 | €202,250 | €241,178 | +€38,928 | +19.2% |
| Equity | 10/15 | €178,660 | €201,555 | +€22,895 | +12.8% |
| Contributions | 10/11 | €9,700 | €9,700 | = | 0.0% |
| Capital | 10 | €9,700 | - | -€9,700 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €8,900 | - | -€8,900 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €167,100 | €189,995 | +€22,895 | +13.7% |
| Amounts payable | 17/49 | €23,590 | €39,623 | +€16,033 | +68.0% |
| Amounts payable within one year | 42/48 | €23,590 | €39,623 | +€16,033 | +68.0% |
| Financial debts | 43 | - | €1,615 | +€1,615 | |
| Credit institutions | 430/8 | - | €1,615 | +€1,615 | |
| Trade debts | 44 | €5,085 | €997 | -€4,087 | -80.4% |
| Suppliers | 440/4 | €5,085 | €997 | -€4,087 | -80.4% |
| Taxes, remuneration and social security | 45 | €6,977 | €3,900 | -€3,077 | -44.1% |
| Taxes | 450/3 | €5,477 | €2,400 | -€3,077 | -56.2% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €11,528 | €33,110 | +€21,583 | +187.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,577 | €13,643 | -€2,934 | -17.7% |
| Other operating charges | 640/8 | €1,437 | €1,142 | -€294 | -20.5% |
| Gross operating margin | 9900 | €48,913 | €47,538 | -€1,375 | -2.8% |
| Operating profit (loss) | 9901 | €30,898 | €32,752 | +€1,854 | +6.0% |
| Financial charges | 65/66B | €3,403 | €3,431 | +€28 | +0.8% |
| Recurring financial charges | 65 | €3,403 | €3,431 | +€28 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €27,495 | €29,321 | +€1,826 | +6.6% |
| Income taxes | 67/77 | €6,071 | €6,426 | +€355 | +5.9% |
| Profit (loss) for the period | 9904 | €21,425 | €22,895 | +€1,470 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,425 | €22,895 | +€1,470 | +6.9% |
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 6 October 2026 via checked.be.