GAVEL: 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.
GAVEL
Largest movements
- Tangible fixed assets -€7,524
down €7,524 (-14.6%), from €51,709 to €44,184
of which Land and buildings: -€6,312
- Cash +€2,057
up €2,057 (+17.8%), from €11,542 to €13,599
mainly Depreciation (+€7,524) and Net result for the year (+€1,966)
- Current portion of long-term debt -€3,769
down €3,769 (-100%), from €3,769 to €0
- Profit (loss) carried forward +€1,966
up €1,966 (+3.0%), from -€65,636 to -€63,670
- Other debts -€1,734
down €1,734 (-7.3%), from €23,704 to €21,970
- Trade debts -€1,525
down €1,525 (-25.2%), from €6,062 to €4,537
- Gross operating margin +€18,207
up €18,207 (+346%), from €5,263 to €23,470
- Staff costs +€1,127
up €1,127 (+9.6%), from €11,793 to €12,920
- Depreciation -€361
down €361 (-4.6%), from €7,886 to €7,524
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 | €64,052 | €58,944 | -€5,108 | -8.0% |
| Fixed assets | 21/28 | €51,892 | €44,367 | -€7,524 | -14.5% |
| Tangible fixed assets | 22/27 | €51,709 | €44,184 | -€7,524 | -14.6% |
| Land and buildings | 22 | €49,304 | €42,992 | -€6,312 | -12.8% |
| Plant, machinery and equipment | 23 | €2,405 | €1,192 | -€1,212 | -50.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €12,160 | €14,576 | +€2,416 | +19.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €618 | €978 | +€360 | +58.2% |
| Other amounts receivable | 41 | €618 | €978 | +€360 | +58.2% |
| Cash at bank and in hand | 54/58 | €11,542 | €13,599 | +€2,057 | +17.8% |
| Total equity and liabilities | 10/49 | €64,052 | €58,944 | -€5,108 | -8.0% |
| Equity | 10/15 | €26,490 | €28,456 | +€1,966 | +7.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,526 | €73,526 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,250 | €25,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,250 | €25,250 | = | 0.0% |
| Distributable reserves | 133 | €48,275 | €48,275 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,636 | -€63,670 | +€1,966 | +3.0% |
| Amounts payable | 17/49 | €37,562 | €30,488 | -€7,074 | -18.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €37,562 | €30,488 | -€7,074 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €3,769 | €0 | -€3,769 | -100% |
| Trade debts | 44 | €6,062 | €4,537 | -€1,525 | -25.2% |
| Suppliers | 440/4 | €6,062 | €4,537 | -€1,525 | -25.2% |
| Taxes, remuneration and social security | 45 | €4,028 | €3,982 | -€46 | -1.2% |
| Taxes | 450/3 | €631 | €364 | -€267 | -42.3% |
| Remuneration and social security | 454/9 | €3,397 | €3,618 | +€221 | +6.5% |
| Other amounts payable | 47/48 | €23,704 | €21,970 | -€1,734 | -7.3% |
| Remuneration, social security and pensions | 62 | €11,793 | €12,920 | +€1,127 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,886 | €7,524 | -€361 | -4.6% |
| Other operating charges | 640/8 | €1,010 | €1,024 | +€14 | +1.4% |
| Gross operating margin | 9900 | €5,263 | €23,470 | +€18,207 | +346% |
| Operating profit (loss) | 9901 | -€15,426 | €2,001 | +€17,427 | |
| Financial income | 75/76B | €257 | €192 | -€65 | -25.2% |
| Recurring financial income | 75 | €257 | €192 | -€65 | -25.2% |
| Financial charges | 65/66B | €405 | €227 | -€178 | -44.0% |
| Recurring financial charges | 65 | €405 | €227 | -€178 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,575 | €1,966 | +€17,541 | |
| Profit (loss) for the period | 9904 | -€15,575 | €1,966 | +€17,541 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,575 | €1,966 | +€17,541 |
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 15 October 2026 via checked.be.