GAS Projects: 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.
GAS Projects
Largest movements
- Receivables within one year +€73,319
up €73,319 (+285.1%), from €25,713 to €99,031
of which Other amounts receivable: +€96,407
- Receivables after one year +€23,089
new in 2025: €23,089
- Reserves +€99,064
up €99,064 (+16.9%), from €587,579 to €686,643
- Financial income -€36,553
down €36,553 (-9.1%), from €400,072 to €363,519
- Gross operating margin -€15,428
down €15,428, from €3,391 to -€12,037
- Depreciation -€12,825
down €12,825 (-100.0%), from €12,825 to €0
- Financial charges -€138
down €138 (-64.7%), from €213 to €75
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 | €1,341,685 | €1,439,998 | +€98,313 | +7.3% |
| Fixed assets | 21/28 | €1,292,504 | €1,292,504 | -€0 | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | -€0 | |
| Furniture and vehicles | 24 | €0 | - | -€0 | |
| Financial fixed assets | 28 | €1,292,504 | €1,292,504 | = | 0.0% |
| Current assets | 29/58 | €49,181 | €147,494 | +€98,313 | +199.9% |
| Amounts receivable after more than one year | 29 | - | €23,089 | +€23,089 | |
| Trade receivables | 290 | - | €23,089 | +€23,089 | |
| Amounts receivable within one year | 40/41 | €25,713 | €99,031 | +€73,319 | +285.1% |
| Trade receivables | 40 | €23,089 | - | -€23,089 | |
| Other amounts receivable | 41 | €2,624 | €99,031 | +€96,407 | +3674.0% |
| Cash at bank and in hand | 54/58 | €23,067 | €23,513 | +€446 | +1.9% |
| Deferred charges and accrued income | 490/1 | €401 | €1,860 | +€1,460 | +364.3% |
| Total equity and liabilities | 10/49 | €1,341,685 | €1,439,998 | +€98,313 | +7.3% |
| Equity | 10/15 | €1,322,641 | €1,421,704 | +€99,064 | +7.5% |
| Contributions | 10/11 | €735,000 | €735,000 | = | 0.0% |
| Reserves | 13 | €587,579 | €686,643 | +€99,064 | +16.9% |
| Distributable reserves | 133 | €587,579 | €686,643 | +€99,064 | +16.9% |
| Profit (loss) carried forward | 14 | €62 | €62 | = | 0.0% |
| Amounts payable | 17/49 | €19,044 | €18,293 | -€751 | -3.9% |
| Amounts payable within one year | 42/48 | €19,044 | €18,293 | -€751 | -3.9% |
| Trade debts | 44 | €18,651 | €18,293 | -€358 | -1.9% |
| Suppliers | 440/4 | €18,651 | €293 | -€18,358 | -98.4% |
| Bills of exchange payable | 441 | - | €18,000 | +€18,000 | |
| Taxes, remuneration and social security | 45 | €393 | - | -€393 | |
| Taxes | 450/3 | €393 | - | -€393 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,825 | €0 | -€12,825 | -100.0% |
| Other operating charges | 640/8 | €2,364 | €2,343 | -€21 | -0.9% |
| Gross operating margin | 9900 | €3,391 | -€12,037 | -€15,428 | |
| Operating profit (loss) | 9901 | -€11,798 | -€14,380 | -€2,583 | -21.9% |
| Financial income | 75/76B | €400,072 | €363,519 | -€36,553 | -9.1% |
| Recurring financial income | 75 | €400,072 | €363,519 | -€36,553 | -9.1% |
| Financial charges | 65/66B | €213 | €75 | -€138 | -64.7% |
| Recurring financial charges | 65 | €213 | €75 | -€138 | -64.7% |
| Profit (loss) for the period before taxes | 9903 | €388,062 | €349,064 | -€38,998 | -10.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €388,062 | €349,064 | -€38,998 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €388,062 | €349,064 | -€38,998 | -10.0% |
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 3 October 2026 via checked.be.