Gaudium: what changed
Two fiscal 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.
Gaudium
Largest movements
- Tangible fixed assets -€182,377
down €182,377 (-29.3%), from €622,401 to €440,025
of which Land and buildings: -€152,262
- Cash -€32,997
down €32,997 (-32.1%), from €102,672 to €69,675
mainly Debts after one year (-€195,606) and Contributions, distributions and other (-€64,706)
- Current investments +€13,100
up €13,100 (+194.1%), from €6,750 to €19,850
- Debts after one year -€195,606
down €195,606 (-39.5%), from €495,643 to €300,037
- Gross operating margin +€28,067
up €28,067 (+27.4%), from €102,437 to €130,504
- Depreciation +€16,958
up €16,958 (+66.7%), from €25,418 to €42,377
- Other operating charges +€1,344
up €1,344 (+25.1%), from €5,363 to €6,707
- Taxes -€1,318
down €1,318 (-8.1%), from €16,186 to €14,868
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.
Cash bridge derived
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 | €769,826 | €566,290 | -€203,536 | -26.4% |
| Fixed assets | 21/28 | €622,401 | €440,025 | -€182,377 | -29.3% |
| Tangible fixed assets | 22/27 | €622,401 | €440,025 | -€182,377 | -29.3% |
| Land and buildings | 22 | €497,760 | €345,498 | -€152,262 | -30.6% |
| Plant, machinery and equipment | 23 | €736 | €461 | -€276 | -37.4% |
| Furniture and vehicles | 24 | €9,237 | €2,805 | -€6,432 | -69.6% |
| Leasing and similar rights | 25 | €114,668 | €91,261 | -€23,407 | -20.4% |
| Current assets | 29/58 | €147,425 | €126,266 | -€21,160 | -14.4% |
| Amounts receivable within one year | 40/41 | €36,179 | €34,762 | -€1,417 | -3.9% |
| Trade receivables | 40 | €34,453 | €29,557 | -€4,896 | -14.2% |
| Other amounts receivable | 41 | €1,726 | €5,205 | +€3,479 | +201.5% |
| Current investments | 50/53 | €6,750 | €19,850 | +€13,100 | +194.1% |
| Cash at bank and in hand | 54/58 | €102,672 | €69,675 | -€32,997 | -32.1% |
| Deferred charges and accrued income | 490/1 | €1,824 | €1,978 | +€155 | +8.5% |
| Total equity and liabilities | 10/49 | €769,826 | €566,290 | -€203,536 | -26.4% |
| Equity | 10/15 | €131,298 | €124,187 | -€7,111 | -5.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €128,298 | €121,187 | -€7,111 | -5.5% |
| Distributable reserves | 133 | €128,298 | €121,187 | -€7,111 | -5.5% |
| Amounts payable | 17/49 | €638,529 | €442,103 | -€196,425 | -30.8% |
| Amounts payable after more than one year | 17 | €495,643 | €300,037 | -€195,606 | -39.5% |
| Financial debts | 170/4 | €495,643 | €300,037 | -€195,606 | -39.5% |
| Amounts payable within one year | 42/48 | €142,885 | €142,067 | -€819 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €58,071 | €55,606 | -€2,465 | -4.2% |
| Financial debts | 43 | - | €3,364 | +€3,364 | |
| Credit institutions | 430/8 | - | €3,364 | +€3,364 | |
| Trade debts | 44 | €3,053 | €3,508 | +€455 | +14.9% |
| Suppliers | 440/4 | €3,053 | €3,508 | +€455 | +14.9% |
| Taxes, remuneration and social security | 45 | €4,000 | - | -€4,000 | |
| Taxes | 450/3 | €4,000 | - | -€4,000 | |
| Other amounts payable | 47/48 | €77,761 | €79,588 | +€1,827 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,418 | €42,377 | +€16,958 | +66.7% |
| Other operating charges | 640/8 | €5,363 | €6,707 | +€1,344 | +25.1% |
| Gross operating margin | 9900 | €102,437 | €130,504 | +€28,067 | +27.4% |
| Operating profit (loss) | 9901 | €71,656 | €81,421 | +€9,765 | +13.6% |
| Financial income | 75/76B | €107 | €1,157 | +€1,050 | +986.1% |
| Recurring financial income | 75 | €107 | €1,157 | +€1,050 | +986.1% |
| Financial charges | 65/66B | €10,772 | €10,115 | -€658 | -6.1% |
| Recurring financial charges | 65 | €10,772 | €10,115 | -€658 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €60,990 | €72,463 | +€11,473 | +18.8% |
| Income taxes | 67/77 | €16,186 | €14,868 | -€1,318 | -8.1% |
| Profit (loss) for the period | 9904 | €44,804 | €57,595 | +€12,791 | +28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,804 | €57,595 | +€12,791 | +28.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.