GAUCA: 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.
GAUCA
Largest movements
- Tangible fixed assets -€354,773
down €354,773 (-34.9%), from €1.0m to €662,264
of which Leasing and similar rights: -€237,698
- Receivables within one year -€133,949
down €133,949 (-20.9%), from €640,711 to €506,762
of which Trade receivables: -€101,670
- Cash -€76,583
down €76,583 (-43.3%), from €176,984 to €100,401
mainly Debts after one year (-€267,323) and Trade debts (-€115,279)
- Debts after one year -€267,323
down €267,323 (-41.0%), from €652,293 to €384,970
- Trade debts -€115,279
down €115,279 (-36.8%), from €312,906 to €197,628
- Current portion of long-term debt -€93,179
down €93,179 (-27.2%), from €342,569 to €249,390
- Reserves -€74,691
down €74,691 (-15.7%), from €476,500 to €401,809
- Tax, wage and social debts +€33,112
up €33,112 (+75.3%), from €43,974 to €77,087
of which Taxes: +€26,515
- Write-downs +€62,992
new in 2025: €62,992
- Gross operating margin +€28,238
up €28,238 (+3.3%), from €847,794 to €876,032
- Staff costs +€24,997
up €24,997 (+7.4%), from €337,376 to €362,373
- Depreciation -€24,655
down €24,655 (-6.9%), from €357,842 to €333,187
- Other operating charges -€24,511
down €24,511 (-47.2%), from €51,897 to €27,386
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 | €1,863,813 | €1,323,918 | -€539,895 | -29.0% |
| Fixed assets | 21/28 | €1,017,337 | €662,684 | -€354,653 | -34.9% |
| Tangible fixed assets | 22/27 | €1,017,037 | €662,264 | -€354,773 | -34.9% |
| Plant, machinery and equipment | 23 | €62,075 | €46,582 | -€15,494 | -25.0% |
| Furniture and vehicles | 24 | €187,425 | €86,689 | -€100,737 | -53.7% |
| Leasing and similar rights | 25 | €763,026 | €525,328 | -€237,698 | -31.2% |
| Other tangible fixed assets | 26 | €4,510 | €3,666 | -€844 | -18.7% |
| Financial fixed assets | 28 | €300 | €420 | +€120 | +40.0% |
| Current assets | 29/58 | €846,476 | €661,234 | -€185,242 | -21.9% |
| Stocks and contracts in progress | 3 | - | €11,021 | +€11,021 | |
| Contracts in progress | 37 | - | €11,021 | +€11,021 | |
| Amounts receivable within one year | 40/41 | €640,711 | €506,762 | -€133,949 | -20.9% |
| Trade receivables | 40 | €593,568 | €491,898 | -€101,670 | -17.1% |
| Other amounts receivable | 41 | €47,143 | €14,865 | -€32,278 | -68.5% |
| Current investments | 50/53 | - | €18,032 | +€18,032 | |
| Cash at bank and in hand | 54/58 | €176,984 | €100,401 | -€76,583 | -43.3% |
| Deferred charges and accrued income | 490/1 | €28,781 | €25,018 | -€3,763 | -13.1% |
| Total equity and liabilities | 10/49 | €1,863,813 | €1,323,918 | -€539,895 | -29.0% |
| Equity | 10/15 | €482,970 | €408,009 | -€74,961 | -15.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €476,500 | €401,809 | -€74,691 | -15.7% |
| Distributable reserves | 133 | €476,500 | €401,809 | -€74,691 | -15.7% |
| Profit (loss) carried forward | 14 | €270 | €0 | -€270 | -100% |
| Amounts payable | 17/49 | €1,380,843 | €915,909 | -€464,934 | -33.7% |
| Amounts payable after more than one year | 17 | €652,293 | €384,970 | -€267,323 | -41.0% |
| Financial debts | 170/4 | €652,293 | €384,970 | -€267,323 | -41.0% |
| Amounts payable within one year | 42/48 | €728,300 | €530,040 | -€198,260 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €342,569 | €249,390 | -€93,179 | -27.2% |
| Financial debts | 43 | €6,784 | €0 | -€6,784 | -100% |
| Credit institutions | 430/8 | €6,784 | €0 | -€6,784 | -100% |
| Trade debts | 44 | €312,906 | €197,628 | -€115,279 | -36.8% |
| Suppliers | 440/4 | €312,906 | €197,628 | -€115,279 | -36.8% |
| Taxes, remuneration and social security | 45 | €43,974 | €77,087 | +€33,112 | +75.3% |
| Taxes | 450/3 | €21,429 | €47,945 | +€26,515 | +124% |
| Remuneration and social security | 454/9 | €22,545 | €29,142 | +€6,597 | +29.3% |
| Other amounts payable | 47/48 | €22,067 | €5,935 | -€16,131 | -73.1% |
| Accrued charges and deferred income | 492/3 | €250 | €900 | +€650 | +260% |
| Non-recurring operating income | 76A | €35,517 | €7,436 | -€28,081 | -79.1% |
| Remuneration, social security and pensions | 62 | €337,376 | €362,373 | +€24,997 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €357,842 | €333,187 | -€24,655 | -6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €62,992 | +€62,992 | |
| Other operating charges | 640/8 | €51,897 | €27,386 | -€24,511 | -47.2% |
| Non-recurring operating charges | 66A | €11,909 | €5,052 | -€6,857 | -57.6% |
| Gross operating margin | 9900 | €847,794 | €876,032 | +€28,238 | +3.3% |
| Operating profit (loss) | 9901 | €88,770 | €85,041 | -€3,728 | -4.2% |
| Financial income | 75/76B | €14,936 | €4,629 | -€10,308 | -69.0% |
| Recurring financial income | 75 | €14,936 | €4,629 | -€10,308 | -69.0% |
| Financial charges | 65/66B | €66,112 | €54,234 | -€11,878 | -18.0% |
| Recurring financial charges | 65 | €66,112 | €54,234 | -€11,878 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €37,594 | €35,436 | -€2,158 | -5.7% |
| Income taxes | 67/77 | €13,195 | €25,397 | +€12,202 | +92.5% |
| Profit (loss) for the period | 9904 | €24,398 | €10,039 | -€14,359 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,398 | €10,039 | -€14,359 | -58.9% |
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 25 October 2026 via checked.be.