GASCARD HYDROFER: 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.
GASCARD HYDROFER
Largest movements
- Tangible fixed assets -€45,765
down €45,765 (-13.0%), from €351,229 to €305,463
of which Land and buildings: -€33,075
- Cash -€33,020
down €33,020 (-40.3%), from €82,009 to €48,988
mainly Debts after one year (-€45,136) and Receivables within one year (-€20,886)
- Receivables within one year +€20,886
up €20,886 (+9.1%), from €228,382 to €249,268
- Debts after one year -€45,136
down €45,136 (-46.2%), from €97,611 to €52,475
- Reserves +€10,910
up €10,910 (+2.5%), from €441,692 to €452,602
- Trade debts -€10,671
down €10,671 (-29.8%), from €35,835 to €25,164
- Current portion of long-term debt -€10,629
down €10,629 (-19.1%), from €55,764 to €45,136
- Gross operating margin -€28,578
down €28,578 (-19.8%), from €144,631 to €116,053
- Depreciation -€6,054
down €6,054 (-11.7%), from €51,819 to €45,765
- Staff costs -€4,358
down €4,358 (-9.1%), from €47,791 to €43,433
- Taxes -€1,465
down €1,465 (-16.6%), from €8,799 to €7,335
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 | €705,870 | €643,105 | -€62,765 | -8.9% |
| Fixed assets | 21/28 | €351,446 | €305,681 | -€45,765 | -13.0% |
| Tangible fixed assets | 22/27 | €351,229 | €305,463 | -€45,765 | -13.0% |
| Land and buildings | 22 | €297,649 | €264,575 | -€33,075 | -11.1% |
| Furniture and vehicles | 24 | €53,580 | €40,889 | -€12,691 | -23.7% |
| Financial fixed assets | 28 | €218 | €218 | = | 0.0% |
| Current assets | 29/58 | €354,424 | €337,424 | -€16,999 | -4.8% |
| Stocks and contracts in progress | 3 | €39,241 | €38,352 | -€889 | -2.3% |
| Stocks | 30/36 | €39,241 | €38,352 | -€889 | -2.3% |
| Amounts receivable within one year | 40/41 | €228,382 | €249,268 | +€20,886 | +9.1% |
| Trade receivables | 40 | €228,382 | €249,268 | +€20,886 | +9.1% |
| Cash at bank and in hand | 54/58 | €82,009 | €48,988 | -€33,020 | -40.3% |
| Deferred charges and accrued income | 490/1 | €4,792 | €815 | -€3,977 | -83.0% |
| Total equity and liabilities | 10/49 | €705,870 | €643,105 | -€62,765 | -8.9% |
| Equity | 10/15 | €465,472 | €475,550 | +€10,078 | +2.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €441,692 | €452,602 | +€10,910 | +2.5% |
| Distributable reserves | 133 | €441,692 | €452,602 | +€10,910 | +2.5% |
| Profit (loss) carried forward | 14 | €4,780 | €3,948 | -€832 | -17.4% |
| Amounts payable | 17/49 | €240,398 | €167,555 | -€72,842 | -30.3% |
| Amounts payable after more than one year | 17 | €97,611 | €52,475 | -€45,136 | -46.2% |
| Financial debts | 170/4 | €97,611 | €52,475 | -€45,136 | -46.2% |
| Amounts payable within one year | 42/48 | €142,787 | €115,081 | -€27,707 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €55,764 | €45,136 | -€10,629 | -19.1% |
| Trade debts | 44 | €35,835 | €25,164 | -€10,671 | -29.8% |
| Suppliers | 440/4 | €35,835 | €25,164 | -€10,671 | -29.8% |
| Taxes, remuneration and social security | 45 | €50,329 | €43,948 | -€6,381 | -12.7% |
| Taxes | 450/3 | €40,446 | €33,741 | -€6,705 | -16.6% |
| Remuneration and social security | 454/9 | €9,883 | €10,208 | +€324 | +3.3% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Non-recurring operating income | 76A | €212 | - | -€212 | |
| Remuneration, social security and pensions | 62 | €47,791 | €43,433 | -€4,358 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,819 | €45,765 | -€6,054 | -11.7% |
| Other operating charges | 640/8 | €5,184 | €4,307 | -€877 | -16.9% |
| Non-recurring operating charges | 66A | €2,072 | - | -€2,072 | |
| Gross operating margin | 9900 | €144,631 | €116,053 | -€28,578 | -19.8% |
| Operating profit (loss) | 9901 | €37,765 | €22,548 | -€15,217 | -40.3% |
| Financial income | 75/76B | €183 | €190 | +€8 | +4.2% |
| Recurring financial income | 75 | €183 | €190 | +€8 | +4.2% |
| Financial charges | 65/66B | €5,619 | €4,492 | -€1,126 | -20.0% |
| Recurring financial charges | 65 | €5,619 | €4,492 | -€1,126 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €32,328 | €18,245 | -€14,083 | -43.6% |
| Income taxes | 67/77 | €8,799 | €7,335 | -€1,465 | -16.6% |
| Profit (loss) for the period | 9904 | €23,529 | €10,911 | -€12,618 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,529 | €10,911 | -€12,618 | -53.6% |
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.