Gauthier Vael: 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.
Gauthier Vael
Largest movements
- Cash -€15,286
down €15,286 (-36.9%), from €41,388 to €26,102
mainly Other debts (-€31,893) and Receivables within one year (-€9,279)
- Receivables within one year +€9,279
up €9,279 (+138%), from €6,742 to €16,021
of which Other amounts receivable: +€11,316
- Tangible fixed assets -€6,463
down €6,463 (-77.6%), from €8,333 to €1,870
- Deferred charges and accrued income +€1,891
up €1,891 (+1,789%), from €106 to €1,997
- Other debts -€31,893
no longer reported in 2025 (was €31,893)
- Profit (loss) carried forward +€15,024
new in 2025: €15,024
- Tax, wage and social debts +€7,635
up €7,635 (+40.6%), from €18,823 to €26,458
- Trade debts -€1,453
down €1,453 (-56.4%), from €2,577 to €1,124
- Gross operating margin -€21,371
down €21,371 (-45.0%), from €47,486 to €26,115
- Depreciation -€3,705
down €3,705 (-88.9%), from €4,167 to €462
- Taxes -€2,739
down €2,739 (-26.1%), from €10,512 to €7,773
- Other operating charges +€1,236
up €1,236 (+159%), from €778 to €2,014
- Financial charges +€1,207
up €1,207 (+885%), from €136 to €1,344
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 | €56,570 | €45,991 | -€10,579 | -18.7% |
| Fixed assets | 21/28 | €8,333 | €1,870 | -€6,463 | -77.6% |
| Tangible fixed assets | 22/27 | €8,333 | €1,870 | -€6,463 | -77.6% |
| Furniture and vehicles | 24 | €8,333 | €1,870 | -€6,463 | -77.6% |
| Current assets | 29/58 | €48,236 | €44,120 | -€4,116 | -8.5% |
| Amounts receivable within one year | 40/41 | €6,742 | €16,021 | +€9,279 | +138% |
| Trade receivables | 40 | €3,445 | €1,408 | -€2,037 | -59.1% |
| Other amounts receivable | 41 | €3,297 | €14,613 | +€11,316 | +343% |
| Cash at bank and in hand | 54/58 | €41,388 | €26,102 | -€15,286 | -36.9% |
| Deferred charges and accrued income | 490/1 | €106 | €1,997 | +€1,891 | +1,789% |
| Total equity and liabilities | 10/49 | €56,570 | €45,991 | -€10,579 | -18.7% |
| Equity | 10/15 | €2,500 | €17,524 | +€15,024 | +601% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €15,024 | +€15,024 | |
| Amounts payable | 17/49 | €54,070 | €28,467 | -€25,603 | -47.4% |
| Amounts payable within one year | 42/48 | €53,294 | €27,582 | -€25,712 | -48.2% |
| Trade debts | 44 | €2,577 | €1,124 | -€1,453 | -56.4% |
| Suppliers | 440/4 | €2,577 | €1,124 | -€1,453 | -56.4% |
| Taxes, remuneration and social security | 45 | €18,823 | €26,458 | +€7,635 | +40.6% |
| Taxes | 450/3 | €18,823 | €26,458 | +€7,635 | +40.6% |
| Other amounts payable | 47/48 | €31,893 | - | -€31,893 | |
| Accrued charges and deferred income | 492/3 | €776 | €885 | +€109 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,167 | €462 | -€3,705 | -88.9% |
| Other operating charges | 640/8 | €778 | €2,014 | +€1,236 | +159% |
| Gross operating margin | 9900 | €47,486 | €26,115 | -€21,371 | -45.0% |
| Operating profit (loss) | 9901 | €42,541 | €23,639 | -€18,902 | -44.4% |
| Financial income | 75/76B | - | €501 | +€501 | |
| Recurring financial income | 75 | - | €501 | +€501 | |
| Financial charges | 65/66B | €136 | €1,344 | +€1,207 | +885% |
| Recurring financial charges | 65 | €136 | €1,344 | +€1,207 | +885% |
| Profit (loss) for the period before taxes | 9903 | €42,405 | €22,796 | -€19,609 | -46.2% |
| Income taxes | 67/77 | €10,512 | €7,773 | -€2,739 | -26.1% |
| Profit (loss) for the period | 9904 | €31,893 | €15,024 | -€16,870 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,893 | €15,024 | -€16,870 | -52.9% |
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.