GASCO: 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.
GASCO
Largest movements
- Receivables within one year +€53,273
up €53,273 (+6,493%), from €820 to €54,093
of which Trade receivables: +€52,061
- Cash -€26,628
down €26,628 (-12.3%), from €215,879 to €189,251
mainly Contributions, distributions and other (-€284,170) and Receivables within one year (-€53,273)
- Tangible fixed assets -€14,896
down €14,896 (-53.1%), from €28,063 to €13,167
of which Furniture and vehicles: -€16,783
- Other debts +€173,077
up €173,077 (+517%), from €33,503 to €206,580
- Profit (loss) carried forward -€89,476
no longer reported in 2025 (was €89,476)
- Reserves -€64,329
down €64,329 (-71.1%), from €90,519 to €26,190
- Tax, wage and social debts +€7,260
up €7,260 (+58.1%), from €12,503 to €19,763
of which Taxes: +€4,352
- Debts after one year -€7,207
no longer reported in 2025 (was €7,207)
- Gross operating margin +€106,987
up €106,987 (+136%), from €78,955 to €185,941
- Taxes +€25,497
up €25,497 (+211%), from €12,108 to €37,605
- Financial charges -€1,998
down €1,998 (-85.2%), from €2,344 to €346
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 | €249,292 | €261,048 | +€11,756 | +4.7% |
| Fixed assets | 21/28 | €28,063 | €13,167 | -€14,896 | -53.1% |
| Tangible fixed assets | 22/27 | €28,063 | €13,167 | -€14,896 | -53.1% |
| Plant, machinery and equipment | 23 | €348 | €2,235 | +€1,887 | +542% |
| Furniture and vehicles | 24 | €27,715 | €10,932 | -€16,783 | -60.6% |
| Current assets | 29/58 | €221,229 | €247,881 | +€26,652 | +12.0% |
| Amounts receivable within one year | 40/41 | €820 | €54,093 | +€53,273 | +6,493% |
| Trade receivables | 40 | - | €52,061 | +€52,061 | |
| Other amounts receivable | 41 | €820 | €2,032 | +€1,211 | +148% |
| Cash at bank and in hand | 54/58 | €215,879 | €189,251 | -€26,628 | -12.3% |
| Deferred charges and accrued income | 490/1 | €4,530 | €4,537 | +€8 | +0.2% |
| Total equity and liabilities | 10/49 | €249,292 | €261,048 | +€11,756 | +4.7% |
| Equity | 10/15 | €180,995 | €27,190 | -€153,805 | -85.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €90,519 | €26,190 | -€64,329 | -71.1% |
| Distributable reserves | 133 | €90,519 | €26,190 | -€64,329 | -71.1% |
| Profit (loss) carried forward | 14 | €89,476 | - | -€89,476 | |
| Amounts payable | 17/49 | €68,297 | €233,859 | +€165,561 | +242% |
| Amounts payable after more than one year | 17 | €7,207 | - | -€7,207 | |
| Financial debts | 170/4 | €7,207 | - | -€7,207 | |
| Amounts payable within one year | 42/48 | €61,090 | €233,859 | +€172,768 | +283% |
| Current portion of amounts payable after more than one year | 42 | €14,274 | €7,207 | -€7,067 | -49.5% |
| Trade debts | 44 | €810 | €308 | -€502 | -62.0% |
| Suppliers | 440/4 | €810 | €308 | -€502 | -62.0% |
| Taxes, remuneration and social security | 45 | €12,503 | €19,763 | +€7,260 | +58.1% |
| Taxes | 450/3 | €10,653 | €15,005 | +€4,352 | +40.8% |
| Remuneration and social security | 454/9 | €1,850 | €4,758 | +€2,908 | +157% |
| Other amounts payable | 47/48 | €33,503 | €206,580 | +€173,077 | +517% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,292 | €18,439 | +€148 | +0.8% |
| Other operating charges | 640/8 | €305 | €317 | +€12 | +3.9% |
| Gross operating margin | 9900 | €78,955 | €185,941 | +€106,987 | +136% |
| Operating profit (loss) | 9901 | €60,358 | €167,186 | +€106,827 | +177% |
| Financial income | 75/76B | €739 | €1,131 | +€392 | +53.0% |
| Recurring financial income | 75 | €739 | €1,131 | +€392 | +53.0% |
| Financial charges | 65/66B | €2,344 | €346 | -€1,998 | -85.2% |
| Recurring financial charges | 65 | €2,344 | €346 | -€1,998 | -85.2% |
| Profit (loss) for the period before taxes | 9903 | €58,753 | €167,970 | +€109,217 | +186% |
| Income taxes | 67/77 | €12,108 | €37,605 | +€25,497 | +211% |
| Profit (loss) for the period | 9904 | €46,645 | €130,365 | +€83,720 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €46,645 | €130,365 | +€83,720 | +179% |
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 20 October 2026 via checked.be.