GATE 25: 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.
GATE 25
Largest movements
- Receivables within one year -€18,000
down €18,000 (-18.5%), from €97,310 to €79,310
of which Trade receivables: -€18,000
- Cash +€7,964
up €7,964 (+78.8%), from €10,110 to €18,074
mainly Receivables within one year (+€18,000) and Net result for the year (+€16,208)
- Tangible fixed assets -€6,491
down €6,491 (-3.5%), from €185,267 to €178,776
of which Land and buildings: -€6,491
- Debts after one year -€21,757
down €21,757 (-59.7%), from €36,421 to €14,665
- Profit (loss) carried forward +€18,777
up €18,777 (+24.2%), from -€77,721 to -€58,944
- Other debts -€10,000
down €10,000 (-11.0%), from €90,767 to €80,767
- Gross operating margin -€4,545
down €4,545 (-15.7%), from €29,024 to €24,479
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 | €292,687 | €276,161 | -€16,526 | -5.6% |
| Fixed assets | 21/28 | €185,267 | €178,776 | -€6,491 | -3.5% |
| Tangible fixed assets | 22/27 | €185,267 | €178,776 | -€6,491 | -3.5% |
| Land and buildings | 22 | €185,267 | €178,776 | -€6,491 | -3.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €107,420 | €97,384 | -€10,036 | -9.3% |
| Amounts receivable within one year | 40/41 | €97,310 | €79,310 | -€18,000 | -18.5% |
| Trade receivables | 40 | €31,000 | €13,000 | -€18,000 | -58.1% |
| Other amounts receivable | 41 | €66,310 | €66,310 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,110 | €18,074 | +€7,964 | +78.8% |
| Total equity and liabilities | 10/49 | €292,687 | €276,161 | -€16,526 | -5.6% |
| Equity | 10/15 | €109,095 | €125,303 | +€16,208 | +14.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €168,223 | €165,655 | -€2,569 | -1.5% |
| Tax-exempt reserves | 132 | €64,214 | €61,645 | -€2,569 | -4.0% |
| Distributable reserves | 133 | €104,010 | €104,010 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,721 | -€58,944 | +€18,777 | +24.2% |
| Provisions and deferred taxes | 16 | €33,065 | €31,742 | -€1,323 | -4.0% |
| Deferred taxes | 168 | €33,065 | €31,742 | -€1,323 | -4.0% |
| Amounts payable | 17/49 | €150,527 | €119,116 | -€31,412 | -20.9% |
| Amounts payable after more than one year | 17 | €36,421 | €14,665 | -€21,757 | -59.7% |
| Financial debts | 170/4 | €36,421 | €14,665 | -€21,757 | -59.7% |
| Amounts payable within one year | 42/48 | €112,238 | €102,523 | -€9,715 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €21,472 | €21,757 | +€285 | +1.3% |
| Other amounts payable | 47/48 | €90,767 | €80,767 | -€10,000 | -11.0% |
| Accrued charges and deferred income | 492/3 | €1,868 | €1,927 | +€60 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,743 | €6,491 | -€252 | -3.7% |
| Other operating charges | 640/8 | €1,299 | €1,338 | +€39 | +3.0% |
| Gross operating margin | 9900 | €29,024 | €24,479 | -€4,545 | -15.7% |
| Operating profit (loss) | 9901 | €20,982 | €16,650 | -€4,332 | -20.6% |
| Financial charges | 65/66B | €1,170 | €906 | -€264 | -22.6% |
| Recurring financial charges | 65 | €1,170 | €906 | -€264 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €19,812 | €15,744 | -€4,068 | -20.5% |
| Transfer from deferred taxes | 780 | €1,323 | €1,323 | = | 0.0% |
| Income taxes | 67/77 | €827 | €859 | +€32 | +3.9% |
| Profit (loss) for the period | 9904 | €20,308 | €16,208 | -€4,100 | -20.2% |
| Transfer from tax-exempt reserves | 789 | €2,569 | €2,569 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,877 | €18,777 | -€4,100 | -17.9% |
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 24 October 2026 via checked.be.