GAP - INVEST: 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.
GAP - INVEST
Largest movements
- Receivables within one year +€51,526
up €51,526 (+5.4%), from €957,567 to €1.0m
- Profit (loss) carried forward +€311,250
up €311,250 (+25.0%), from €1.2m to €1.6m
- Reserves -€296,993
down €296,993 (-45.7%), from €649,265 to €352,272
of which Tax-exempt reserves: -€296,993
- Tax, wage and social debts +€116,585
up €116,585 (+28.1%), from €415,072 to €531,657
- Provisions -€98,998
no longer reported in 2025 (was €98,998)
- Taxes -€70,251
down €70,251 (-37.6%), from €186,836 to €116,585
- Gross operating margin +€10,194
up €10,194 (+29.8%), from €34,202 to €44,396
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 | €2,955,852 | €2,995,893 | +€40,041 | +1.4% |
| Fixed assets | 21/28 | €1,998,280 | €1,986,695 | -€11,584 | -0.6% |
| Tangible fixed assets | 22/27 | €118,280 | €106,695 | -€11,584 | -9.8% |
| Land and buildings | 22 | €118,280 | €106,695 | -€11,584 | -9.8% |
| Financial fixed assets | 28 | €1,880,000 | €1,880,000 | = | 0.0% |
| Current assets | 29/58 | €957,572 | €1,009,198 | +€51,626 | +5.4% |
| Amounts receivable within one year | 40/41 | €957,567 | €1,009,093 | +€51,526 | +5.4% |
| Other amounts receivable | 41 | €957,567 | €1,009,093 | +€51,526 | +5.4% |
| Cash at bank and in hand | 54/58 | €5 | €105 | +€100 | +2000.0% |
| Total equity and liabilities | 10/49 | €2,955,852 | €2,995,893 | +€40,041 | +1.4% |
| Equity | 10/15 | €2,423,149 | €2,437,406 | +€14,257 | +0.6% |
| Contributions | 10/11 | €531,021 | €531,021 | = | 0.0% |
| Capital | 10 | €531,021 | €531,021 | = | 0.0% |
| Issued capital | 100 | €531,021 | €531,021 | = | 0.0% |
| Reserves | 13 | €649,265 | €352,272 | -€296,993 | -45.7% |
| Non-distributable reserves | 130/1 | €123,102 | €123,102 | = | 0.0% |
| Legal reserve | 130 | €123,102 | €123,102 | = | 0.0% |
| Tax-exempt reserves | 132 | €296,993 | - | -€296,993 | |
| Distributable reserves | 133 | €229,169 | €229,169 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,242,863 | €1,554,113 | +€311,250 | +25.0% |
| Provisions and deferred taxes | 16 | €98,998 | - | -€98,998 | |
| Deferred taxes | 168 | €98,998 | - | -€98,998 | |
| Amounts payable | 17/49 | €433,705 | €558,487 | +€124,782 | +28.8% |
| Amounts payable within one year | 42/48 | €433,705 | €558,487 | +€124,782 | +28.8% |
| Trade debts | 44 | €18,633 | €26,830 | +€8,197 | +44.0% |
| Suppliers | 440/4 | €18,633 | €26,830 | +€8,197 | +44.0% |
| Taxes, remuneration and social security | 45 | €415,072 | €531,657 | +€116,585 | +28.1% |
| Taxes | 450/3 | €415,072 | €531,657 | +€116,585 | +28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,688 | €11,584 | -€104 | -0.9% |
| Other operating charges | 640/8 | €982 | €968 | -€15 | -1.5% |
| Gross operating margin | 9900 | €34,202 | €44,396 | +€10,194 | +29.8% |
| Operating profit (loss) | 9901 | €21,532 | €31,844 | +€10,313 | +47.9% |
| Financial income | 75/76B | €47 | - | -€47 | |
| Recurring financial income | 75 | €47 | - | -€47 | |
| Financial charges | 65/66B | €145 | - | -€145 | |
| Recurring financial charges | 65 | €145 | - | -€145 | |
| Profit (loss) for the period before taxes | 9903 | €21,433 | €31,844 | +€10,411 | +48.6% |
| Transfer from deferred taxes | 780 | €169,664 | €98,998 | -€70,666 | -41.7% |
| Income taxes | 67/77 | €186,836 | €116,585 | -€70,251 | -37.6% |
| Profit (loss) for the period | 9904 | €4,261 | €14,257 | +€9,996 | +234.6% |
| Transfer from tax-exempt reserves | 789 | €508,992 | €296,993 | -€211,999 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €513,253 | €311,250 | -€202,003 | -39.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.