GAPBUSTERS: 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.
GAPBUSTERS
Largest movements
- Receivables within one year -€134,018
down €134,018 (-31.3%), from €428,506 to €294,489
of which Trade receivables: -€129,286
- Intangible fixed assets -€82,199
down €82,199 (-52.6%), from €156,205 to €74,006
- Trade debts -€137,145
down €137,145 (-23.4%), from €584,859 to €447,715
- Profit (loss) carried forward -€71,816
down €71,816 (-9.2%), from -€776,788 to -€848,603
- Investment grants -€49,302
down €49,302 (-11.5%), from €429,689 to €380,387
- Short-term financial debts +€20,453
up €20,453 (+16.2%), from €125,999 to €146,452
- Tax, wage and social debts +€18,222
up €18,222 (+21,364%), from €85 to €18,307
of which Taxes: +€18,222
- Depreciation -€506,062
down €506,062 (-91.2%), from €554,913 to €48,851
- Financial income -€432,362
down €432,362 (-89.8%), from €481,684 to €49,322
- Gross operating margin -€110,027
down €110,027, from €46,725 to -€63,302
- Staff costs -€26,796
down €26,796 (-83.9%), from €31,945 to €5,148
- Financial charges -€23,232
down €23,232 (-86.5%), from €26,849 to €3,617
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 | €589,001 | €369,413 | -€219,588 | -37.3% |
| Fixed assets | 21/28 | €156,390 | €74,191 | -€82,199 | -52.6% |
| Intangible fixed assets | 21 | €156,205 | €74,006 | -€82,199 | -52.6% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €432,611 | €295,223 | -€137,388 | -31.8% |
| Amounts receivable within one year | 40/41 | €428,506 | €294,489 | -€134,018 | -31.3% |
| Trade receivables | 40 | €255,802 | €126,517 | -€129,286 | -50.5% |
| Other amounts receivable | 41 | €172,704 | €167,972 | -€4,732 | -2.7% |
| Cash at bank and in hand | 54/58 | €4,105 | €734 | -€3,370 | -82.1% |
| Total equity and liabilities | 10/49 | €589,001 | €369,413 | -€219,588 | -37.3% |
| Equity | 10/15 | -€235,599 | -€356,717 | -€121,118 | -51.4% |
| Contributions | 10/11 | €111,500 | €111,500 | = | 0.0% |
| Capital | 10 | €111,500 | €111,500 | = | 0.0% |
| Issued capital | 100 | €111,500 | €111,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€776,788 | -€848,603 | -€71,816 | -9.2% |
| Investment grants | 15 | €429,689 | €380,387 | -€49,302 | -11.5% |
| Amounts payable | 17/49 | €824,600 | €726,130 | -€98,470 | -11.9% |
| Amounts payable within one year | 42/48 | €824,600 | €726,130 | -€98,470 | -11.9% |
| Financial debts | 43 | €125,999 | €146,452 | +€20,453 | +16.2% |
| Credit institutions | 430/8 | €125,999 | €146,452 | +€20,453 | +16.2% |
| Trade debts | 44 | €584,859 | €447,715 | -€137,145 | -23.4% |
| Suppliers | 440/4 | €584,859 | €447,715 | -€137,145 | -23.4% |
| Taxes, remuneration and social security | 45 | €85 | €18,307 | +€18,222 | +21,364% |
| Taxes | 450/3 | - | €18,222 | +€18,222 | |
| Remuneration and social security | 454/9 | €85 | €85 | = | 0.0% |
| Other amounts payable | 47/48 | €113,656 | €113,656 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €31,945 | €5,148 | -€26,796 | -83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €554,913 | €48,851 | -€506,062 | -91.2% |
| Other operating charges | 640/8 | €1,203 | €220 | -€983 | -81.7% |
| Gross operating margin | 9900 | €46,725 | -€63,302 | -€110,027 | |
| Operating profit (loss) | 9901 | -€541,336 | -€117,521 | +€423,815 | +78.3% |
| Financial income | 75/76B | €481,684 | €49,322 | -€432,362 | -89.8% |
| Recurring financial income | 75 | €481,684 | €49,322 | -€432,362 | -89.8% |
| Financial charges | 65/66B | €26,849 | €3,617 | -€23,232 | -86.5% |
| Recurring financial charges | 65 | €26,849 | €3,617 | -€23,232 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | -€86,501 | -€71,816 | +€14,685 | +17.0% |
| Profit (loss) for the period | 9904 | -€86,501 | -€71,816 | +€14,685 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,501 | -€71,816 | +€14,685 | +17.0% |
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 14 October 2026 via checked.be.