GAPLUX: 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.
GAPLUX
Largest movements
- Current investments +€420,758
up €420,758 (+4.8%), from €8.8m to €9.3m
- Profit (loss) carried forward +€387,188
up €387,188 (+9.6%), from €4.1m to €4.4m
- Financial income +€324,282
up €324,282 (+93.0%), from €348,791 to €673,073
- Taxes +€71,745
up €71,745 (+112.9%), from €63,573 to €135,318
- Gross operating margin -€46,923
down €46,923 (-165.2%), from -€28,406 to -€75,329
- Other operating charges +€13,105
up €13,105 (+145.1%), from €9,029 to €22,134
- Financial charges -€3,485
down €3,485 (-7.6%), from €45,876 to €42,391
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 | €9,133,932 | €9,563,827 | +€429,895 | +4.7% |
| Fixed assets | 21/28 | €148,026 | €137,313 | -€10,713 | -7.2% |
| Tangible fixed assets | 22/27 | €148,026 | €137,313 | -€10,713 | -7.2% |
| Land and buildings | 22 | €123,150 | €115,945 | -€7,205 | -5.9% |
| Furniture and vehicles | 24 | €422 | €152 | -€270 | -64.0% |
| Other tangible fixed assets | 26 | €24,454 | €21,216 | -€3,238 | -13.2% |
| Current assets | 29/58 | €8,985,906 | €9,426,514 | +€440,608 | +4.9% |
| Amounts receivable within one year | 40/41 | €126,912 | €124,343 | -€2,569 | -2.0% |
| Trade receivables | 40 | €1,928 | - | -€1,928 | |
| Other amounts receivable | 41 | €124,984 | €124,343 | -€641 | -0.5% |
| Current investments | 50/53 | €8,830,457 | €9,251,215 | +€420,758 | +4.8% |
| Cash at bank and in hand | 54/58 | €28,537 | €50,956 | +€22,419 | +78.6% |
| Total equity and liabilities | 10/49 | €9,133,932 | €9,563,827 | +€429,895 | +4.7% |
| Equity | 10/15 | €6,244,799 | €6,631,987 | +€387,188 | +6.2% |
| Contributions | 10/11 | €2,018,600 | €2,018,600 | = | 0.0% |
| Capital | 10 | €2,018,600 | €2,018,600 | = | 0.0% |
| Issued capital | 100 | €2,018,600 | €2,018,600 | = | 0.0% |
| Reserves | 13 | €172,822 | €172,822 | = | 0.0% |
| Non-distributable reserves | 130/1 | €133,112 | €133,112 | = | 0.0% |
| Legal reserve | 130 | €133,112 | €133,112 | = | 0.0% |
| Distributable reserves | 133 | €39,710 | €39,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,053,377 | €4,440,565 | +€387,188 | +9.6% |
| Amounts payable | 17/49 | €2,889,133 | €2,931,840 | +€42,707 | +1.5% |
| Amounts payable after more than one year | 17 | €2,889,133 | €2,923,691 | +€34,558 | +1.2% |
| Other amounts payable | 178/9 | €2,889,133 | €2,923,691 | +€34,558 | +1.2% |
| Amounts payable within one year | 42/48 | - | €8,149 | +€8,149 | |
| Financial debts | 43 | - | €2,121 | +€2,121 | |
| Credit institutions | 430/8 | - | €2,121 | +€2,121 | |
| Taxes, remuneration and social security | 45 | - | €6,028 | +€6,028 | |
| Taxes | 450/3 | - | €6,028 | +€6,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,187 | €10,713 | -€474 | -4.2% |
| Other operating charges | 640/8 | €9,029 | €22,134 | +€13,105 | +145.1% |
| Gross operating margin | 9900 | -€28,406 | -€75,329 | -€46,923 | -165.2% |
| Operating profit (loss) | 9901 | -€48,622 | -€108,176 | -€59,554 | -122.5% |
| Financial income | 75/76B | €348,791 | €673,073 | +€324,282 | +93.0% |
| Recurring financial income | 75 | €348,791 | €673,073 | +€324,282 | +93.0% |
| Financial charges | 65/66B | €45,876 | €42,391 | -€3,485 | -7.6% |
| Recurring financial charges | 65 | €45,876 | €42,391 | -€3,485 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €254,293 | €522,506 | +€268,213 | +105.5% |
| Income taxes | 67/77 | €63,573 | €135,318 | +€71,745 | +112.9% |
| Profit (loss) for the period | 9904 | €190,720 | €387,188 | +€196,468 | +103.0% |
| Profit (loss) for the period to be appropriated | 9905 | €190,720 | €387,188 | +€196,468 | +103.0% |
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 12 October 2026 via checked.be.