GASPALEX: 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.
GASPALEX
Largest movements
- Tangible fixed assets +€184,627
up €184,627 (+9.5%), from €1.9m to €2.1m
of which Land and buildings: +€228,088
- Receivables within one year -€118,335
down €118,335 (-51.1%), from €231,533 to €113,198
of which Trade receivables: -€111,556
- Reserves -€166,900
down €166,900 (-79.9%), from €208,900 to €42,000
- Debts after one year +€114,957
up €114,957 (+7.0%), from €1.6m to €1.8m
- Current portion of long-term debt +€43,154
up €43,154 (+45.5%), from €94,745 to €137,900
- Tax, wage and social debts +€35,423
new in 2025: €35,423
- Other debts +€31,841
up €31,841 (+13.7%), from €232,244 to €264,085
- Gross operating margin -€213,783
down €213,783 (-48.1%), from €444,598 to €230,815
- Taxes -€42,450
down €42,450 (-81.0%), from €52,400 to €9,950
- Depreciation +€9,357
up €9,357 (+9.8%), from €95,754 to €105,111
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 | €2,188,802 | €2,247,864 | +€59,062 | +2.7% |
| Fixed assets | 21/28 | €1,943,298 | €2,127,925 | +€184,627 | +9.5% |
| Tangible fixed assets | 22/27 | €1,943,298 | €2,127,925 | +€184,627 | +9.5% |
| Land and buildings | 22 | €1,413,256 | €1,641,343 | +€228,088 | +16.1% |
| Furniture and vehicles | 24 | €78,047 | €135,146 | +€57,099 | +73.2% |
| Leasing and similar rights | 25 | €451,995 | €351,436 | -€100,559 | -22.2% |
| Current assets | 29/58 | €245,504 | €119,939 | -€125,565 | -51.1% |
| Amounts receivable within one year | 40/41 | €231,533 | €113,198 | -€118,335 | -51.1% |
| Trade receivables | 40 | €190,671 | €79,115 | -€111,556 | -58.5% |
| Other amounts receivable | 41 | €40,862 | €34,083 | -€6,779 | -16.6% |
| Cash at bank and in hand | 54/58 | €13,971 | €6,027 | -€7,944 | -56.9% |
| Deferred charges and accrued income | 490/1 | - | €714 | +€714 | |
| Total equity and liabilities | 10/49 | €2,188,802 | €2,247,864 | +€59,062 | +2.7% |
| Equity | 10/15 | €218,910 | €52,745 | -€166,165 | -75.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €208,900 | €42,000 | -€166,900 | -79.9% |
| Distributable reserves | 133 | €208,900 | €42,000 | -€166,900 | -79.9% |
| Profit (loss) carried forward | 14 | €10 | €745 | +€735 | +7,465% |
| Amounts payable | 17/49 | €1,969,892 | €2,195,119 | +€225,227 | +11.4% |
| Amounts payable after more than one year | 17 | €1,642,489 | €1,757,447 | +€114,957 | +7.0% |
| Financial debts | 170/4 | €1,642,489 | €1,757,447 | +€114,957 | +7.0% |
| Amounts payable within one year | 42/48 | €326,989 | €437,673 | +€110,683 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €94,745 | €137,900 | +€43,154 | +45.5% |
| Trade debts | 44 | - | €266 | +€266 | |
| Suppliers | 440/4 | - | €266 | +€266 | |
| Taxes, remuneration and social security | 45 | - | €35,423 | +€35,423 | |
| Taxes | 450/3 | - | €35,423 | +€35,423 | |
| Other amounts payable | 47/48 | €232,244 | €264,085 | +€31,841 | +13.7% |
| Accrued charges and deferred income | 492/3 | €414 | - | -€414 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,754 | €105,111 | +€9,357 | +9.8% |
| Other operating charges | 640/8 | €4,048 | €1,540 | -€2,507 | -61.9% |
| Gross operating margin | 9900 | €444,598 | €230,815 | -€213,783 | -48.1% |
| Operating profit (loss) | 9901 | €344,796 | €124,163 | -€220,633 | -64.0% |
| Financial charges | 65/66B | €40,344 | €44,228 | +€3,884 | +9.6% |
| Recurring financial charges | 65 | €40,344 | €44,228 | +€3,884 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €304,452 | €79,935 | -€224,517 | -73.7% |
| Income taxes | 67/77 | €52,400 | €9,950 | -€42,450 | -81.0% |
| Profit (loss) for the period | 9904 | €252,052 | €69,985 | -€182,067 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €252,052 | €69,985 | -€182,067 | -72.2% |
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 13 October 2026 via checked.be.