GAULLIEM: 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.
GAULLIEM
Largest movements
- Stocks and contracts -€160,041
down €160,041 (-100.0%), from €160,041 to €0
- Receivables within one year -€33,148
down €33,148 (-81.5%), from €40,688 to €7,540
of which Trade receivables: -€20,535
- Tangible fixed assets -€31,849
down €31,849 (-18.2%), from €175,062 to €143,213
of which Land and buildings: -€18,589
- Cash -€14,634
down €14,634 (-50.8%), from €28,817 to €14,183
mainly Net result for the year (-€156,731) and Trade debts (-€72,405)
- Profit (loss) carried forward -€156,731
down €156,731 (-166.7%), from -€94,012 to -€250,744
- Trade debts -€72,405
down €72,405 (-30.8%), from €235,369 to €162,964
- Other debts +€32,437
up €32,437, from €0 to €32,437
- Current portion of long-term debt -€26,350
down €26,350 (-91.7%), from €28,745 to €2,395
- Tax, wage and social debts -€17,497
down €17,497 (-50.5%), from €34,663 to €17,166
of which Remuneration and social security: -€15,386
- Gross operating margin -€141,038
down €141,038 (-82.6%), from €170,687 to €29,650
- Financial charges +€35,137
up €35,137, from -€3,916 to €31,222
- Staff costs -€23,523
down €23,523 (-16.8%), from €139,646 to €116,123
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €412,225 | €169,301 | -€242,924 | -58.9% |
| Fixed assets | 21/28 | €177,322 | €145,623 | -€31,699 | -17.9% |
| Tangible fixed assets | 22/27 | €175,062 | €143,213 | -€31,849 | -18.2% |
| Land and buildings | 22 | €137,736 | €119,147 | -€18,589 | -13.5% |
| Plant, machinery and equipment | 23 | €19,266 | €8,877 | -€10,389 | -53.9% |
| Furniture and vehicles | 24 | €18,059 | €15,188 | -€2,871 | -15.9% |
| Financial fixed assets | 28 | €2,260 | €2,410 | +€150 | +6.6% |
| Current assets | 29/58 | €234,903 | €23,678 | -€211,225 | -89.9% |
| Stocks and contracts in progress | 3 | €160,041 | €0 | -€160,041 | -100.0% |
| Stocks | 30/36 | €160,041 | €0 | -€160,041 | -100.0% |
| Amounts receivable within one year | 40/41 | €40,688 | €7,540 | -€33,148 | -81.5% |
| Trade receivables | 40 | €24,030 | €3,495 | -€20,535 | -85.5% |
| Other amounts receivable | 41 | €16,658 | €4,045 | -€12,613 | -75.7% |
| Cash at bank and in hand | 54/58 | €28,817 | €14,183 | -€14,634 | -50.8% |
| Deferred charges and accrued income | 490/1 | €5,358 | €1,955 | -€3,403 | -63.5% |
| Total equity and liabilities | 10/49 | €412,225 | €169,301 | -€242,924 | -58.9% |
| Equity | 10/15 | €111,052 | -€45,679 | -€156,731 | |
| Contributions | 10/11 | €183,051 | €183,051 | = | 0.0% |
| Reserves | 13 | €22,013 | €22,013 | = | 0.0% |
| Distributable reserves | 133 | €22,013 | €22,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,012 | -€250,744 | -€156,731 | -166.7% |
| Amounts payable | 17/49 | €301,173 | €214,980 | -€86,193 | -28.6% |
| Amounts payable after more than one year | 17 | €2,395 | €0 | -€2,395 | -100.0% |
| Financial debts | 170/4 | €2,395 | €0 | -€2,395 | -100.0% |
| Amounts payable within one year | 42/48 | €298,777 | €214,963 | -€83,815 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €28,745 | €2,395 | -€26,350 | -91.7% |
| Trade debts | 44 | €235,369 | €162,964 | -€72,405 | -30.8% |
| Suppliers | 440/4 | €235,369 | €162,964 | -€72,405 | -30.8% |
| Taxes, remuneration and social security | 45 | €34,663 | €17,166 | -€17,497 | -50.5% |
| Taxes | 450/3 | €2,468 | €357 | -€2,111 | -85.5% |
| Remuneration and social security | 454/9 | €32,195 | €16,809 | -€15,386 | -47.8% |
| Other amounts payable | 47/48 | €0 | €32,437 | +€32,437 | |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Remuneration, social security and pensions | 62 | €139,646 | €116,123 | -€23,523 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,878 | €31,849 | -€1,029 | -3.1% |
| Other operating charges | 640/8 | €5,662 | €7,105 | +€1,443 | +25.5% |
| Gross operating margin | 9900 | €170,687 | €29,650 | -€141,038 | -82.6% |
| Operating profit (loss) | 9901 | -€7,499 | -€125,428 | -€117,928 | -1572.5% |
| Financial income | 75/76B | €0 | €95 | +€95 | +238225.0% |
| Recurring financial income | 75 | €0 | €95 | +€95 | +238225.0% |
| Financial charges | 65/66B | -€3,916 | €31,222 | +€35,137 | |
| Recurring financial charges | 65 | -€3,916 | €31,222 | +€35,137 | |
| Profit (loss) for the period before taxes | 9903 | -€3,584 | -€156,554 | -€152,971 | -4268.5% |
| Income taxes | 67/77 | €90 | €177 | +€87 | +95.9% |
| Profit (loss) for the period | 9904 | -€3,674 | -€156,731 | -€153,057 | -4165.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,674 | -€156,731 | -€153,057 | -4165.8% |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.