GASIM: 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.
What changed
GASIM
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€289,174
2024 · €318,663-€29,490
Equity
€1.9m
2024 · €1.6m+€289,174
Cash
€50,100
2024 · €40,342+€9,758
Balance sheet total
€6.5m
2024 · €6.7m-€228,570
Largest movements
Assets
- Tangible fixed assets -€257,465
down €257,465 (-3.9%), from €6.6m to €6.4m
of which Land and buildings: -€253,132
Equity and liabilities
- Debts after one year -€463,916
down €463,916 (-10.6%), from €4.4m to €3.9m
- Reserves +€289,174
up €289,174 (+25.8%), from €1.1m to €1.4m
of which Distributable reserves: +€289,174
Income statement
- Gross operating margin -€15,500
down €15,500 (-2.0%), from €783,374 to €767,874
- Other operating charges +€10,912
up €10,912 (+19.5%), from €56,063 to €66,976
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.
Result 2024
€318,663
Gross operating margin
-€15,500
Depreciation
+€1,401
Other operating charges
-€10,912
Financial income
-€1,348
Financial charges
+€4,291
Taxes
-€7,422
Result 2025
€289,174
raises the resultlowers the result
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.
From operations
+€480,355
Investment
€0
Financing
-€470,597
Cash 2024
€40,342
From operations (derived)
+€480,355
Net result for the year
+€289,174
Depreciation
+€257,946
Receivables within one year
-€19,617
Trade debts
+€2,214
Tax, wage and social debts
-€4,814
Other debts
-€49,231
Accrued charges and deferred income
+€4,684
Financing
-€470,597
Debts after one year
-€463,916
Current portion of long-term debt
-€6,681
Cash 2025
€50,100
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,718,167 | €6,489,597 | -€228,570 | -3.4% |
| Fixed assets | 21/28 | €6,643,115 | €6,385,170 | -€257,946 | -3.9% |
| Intangible fixed assets | 21 | €480 | €0 | -€480 | -100% |
| Tangible fixed assets | 22/27 | €6,641,999 | €6,384,534 | -€257,465 | -3.9% |
| Land and buildings | 22 | €6,628,332 | €6,375,200 | -€253,132 | -3.8% |
| Plant, machinery and equipment | 23 | €13,667 | €9,334 | -€4,333 | -31.7% |
| Financial fixed assets | 28 | €636 | €636 | = | 0.0% |
| Current assets | 29/58 | €75,051 | €104,427 | +€29,376 | +39.1% |
| Amounts receivable within one year | 40/41 | €34,710 | €54,327 | +€19,617 | +56.5% |
| Trade receivables | 40 | €32,210 | €48,909 | +€16,699 | +51.8% |
| Other amounts receivable | 41 | €2,500 | €5,418 | +€2,918 | +117% |
| Cash at bank and in hand | 54/58 | €40,342 | €50,100 | +€9,758 | +24.2% |
| Total equity and liabilities | 10/49 | €6,718,167 | €6,489,597 | -€228,570 | -3.4% |
| Equity | 10/15 | €1,616,820 | €1,905,993 | +€289,174 | +17.9% |
| Contributions | 10/11 | €347,000 | €347,000 | = | 0.0% |
| Capital | 10 | €347,000 | €347,000 | = | 0.0% |
| Issued capital | 100 | €347,000 | €347,000 | = | 0.0% |
| Revaluation surpluses | 12 | €147,651 | €147,651 | = | 0.0% |
| Reserves | 13 | €1,122,169 | €1,411,343 | +€289,174 | +25.8% |
| Non-distributable reserves | 130/1 | €34,700 | €34,700 | = | 0.0% |
| Legal reserve | 130 | €34,700 | €34,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,194 | €20,194 | = | 0.0% |
| Distributable reserves | 133 | €1,067,275 | €1,356,449 | +€289,174 | +27.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,101,347 | €4,583,603 | -€517,744 | -10.1% |
| Amounts payable after more than one year | 17 | €4,363,678 | €3,899,762 | -€463,916 | -10.6% |
| Financial debts | 170/4 | €4,363,678 | €3,899,762 | -€463,916 | -10.6% |
| Amounts payable within one year | 42/48 | €737,049 | €678,537 | -€58,512 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €621,216 | €614,535 | -€6,681 | -1.1% |
| Trade debts | 44 | €176 | €2,391 | +€2,214 | +1,256% |
| Suppliers | 440/4 | €176 | €2,391 | +€2,214 | +1,256% |
| Taxes, remuneration and social security | 45 | €29,064 | €24,250 | -€4,814 | -16.6% |
| Taxes | 450/3 | €29,064 | €24,250 | -€4,814 | -16.6% |
| Other amounts payable | 47/48 | €86,592 | €37,361 | -€49,231 | -56.9% |
| Accrued charges and deferred income | 492/3 | €619 | €5,304 | +€4,684 | +757% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €259,347 | €257,946 | -€1,401 | -0.5% |
| Other operating charges | 640/8 | €56,063 | €66,976 | +€10,912 | +19.5% |
| Gross operating margin | 9900 | €783,374 | €767,874 | -€15,500 | -2.0% |
| Operating profit (loss) | 9901 | €467,964 | €442,953 | -€25,011 | -5.3% |
| Financial income | 75/76B | €1,348 | €0 | -€1,348 | -100% |
| Recurring financial income | 75 | €1,348 | €0 | -€1,348 | -100% |
| Financial charges | 65/66B | €60,989 | €56,697 | -€4,291 | -7.0% |
| Recurring financial charges | 65 | €60,989 | €56,697 | -€4,291 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €408,323 | €386,255 | -€22,068 | -5.4% |
| Income taxes | 67/77 | €89,660 | €97,082 | +€7,422 | +8.3% |
| Profit (loss) for the period | 9904 | €318,663 | €289,174 | -€29,490 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €318,663 | €289,174 | -€29,490 | -9.3% |
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.