GAYET: 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.
GAYET
Largest movements
- Stocks and contracts +€76,963
up €76,963 (+50.3%), from €153,031 to €229,994
- Cash -€76,941
down €76,941 (-51.3%), from €150,095 to €73,154
mainly Contributions, distributions and other (-€117,800) and Stocks and contracts (-€76,963)
- Current investments -€50,411
down €50,411 (-24.9%), from €202,837 to €152,426
- Receivables within one year +€27,162
up €27,162 (+28.3%), from €95,927 to €123,089
of which Other amounts receivable: +€15,208
- Tangible fixed assets -€6,961
down €6,961 (-52.6%), from €13,232 to €6,271
of which Furniture and vehicles: -€6,596
- Reserves -€59,800
down €59,800 (-12.2%), from €491,061 to €431,261
of which Distributable reserves: -€59,800
- Other debts +€54,565
up €54,565 (+1,063%), from €5,134 to €59,699
- Tax, wage and social debts -€26,968
down €26,968 (-99.7%), from €27,036 to €69
- Short-term financial debts -€21,912
down €21,912 (-76.3%), from €28,703 to €6,791
- Profit (loss) carried forward +€9,888
up €9,888 (+1,734%), from €570 to €10,458
- Turnover -€474,751
no longer reported in 2025 (was €474,751)
- Purchases and services -€407,301
no longer reported in 2025 (was €407,301)
- Gross operating margin +€24,339
up €24,339 (+36.1%), from €67,450 to €91,789
- Financial income +€12,323
up €12,323 (+179%), from €6,897 to €19,219
- Taxes +€9,239
up €9,239 (+70.7%), from €13,063 to €22,302
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 | €618,741 | €586,222 | -€32,519 | -5.3% |
| Fixed assets | 21/28 | €13,232 | €6,271 | -€6,961 | -52.6% |
| Tangible fixed assets | 22/27 | €13,232 | €6,271 | -€6,961 | -52.6% |
| Land and buildings | 22 | €365 | - | -€365 | |
| Furniture and vehicles | 24 | €12,867 | €6,271 | -€6,596 | -51.3% |
| Current assets | 29/58 | €605,509 | €579,951 | -€25,558 | -4.2% |
| Stocks and contracts in progress | 3 | €153,031 | €229,994 | +€76,963 | +50.3% |
| Stocks | 30/36 | €153,031 | €229,994 | +€76,963 | +50.3% |
| Amounts receivable within one year | 40/41 | €95,927 | €123,089 | +€27,162 | +28.3% |
| Trade receivables | 40 | €51,249 | €63,203 | +€11,955 | +23.3% |
| Other amounts receivable | 41 | €44,678 | €59,886 | +€15,208 | +34.0% |
| Current investments | 50/53 | €202,837 | €152,426 | -€50,411 | -24.9% |
| Cash at bank and in hand | 54/58 | €150,095 | €73,154 | -€76,941 | -51.3% |
| Deferred charges and accrued income | 490/1 | €3,619 | €1,288 | -€2,332 | -64.4% |
| Total equity and liabilities | 10/49 | €618,741 | €586,222 | -€32,519 | -5.3% |
| Equity | 10/15 | €553,632 | €503,720 | -€49,912 | -9.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €491,061 | €431,261 | -€59,800 | -12.2% |
| Non-distributable reserves | 130/1 | €16,742 | €6,200 | -€10,542 | -63.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,542 | - | -€10,542 | |
| Tax-exempt reserves | 132 | - | €10,542 | +€10,542 | |
| Distributable reserves | 133 | €474,320 | €414,520 | -€59,800 | -12.6% |
| Profit (loss) carried forward | 14 | €570 | €10,458 | +€9,888 | +1,734% |
| Amounts payable | 17/49 | €65,109 | €82,503 | +€17,393 | +26.7% |
| Amounts payable after more than one year | 17 | - | €7,212 | +€7,212 | |
| Financial debts | 170/4 | - | €7,212 | +€7,212 | |
| Amounts payable within one year | 42/48 | €63,501 | €75,291 | +€11,790 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,895 | +€6,895 | |
| Financial debts | 43 | €28,703 | €6,791 | -€21,912 | -76.3% |
| Credit institutions | 430/8 | €28,703 | €6,791 | -€21,912 | -76.3% |
| Trade debts | 44 | €2,628 | €1,838 | -€789 | -30.0% |
| Suppliers | 440/4 | €2,628 | €1,838 | -€789 | -30.0% |
| Taxes, remuneration and social security | 45 | €27,036 | €69 | -€26,968 | -99.7% |
| Taxes | 450/3 | €27,036 | €69 | -€26,968 | -99.7% |
| Other amounts payable | 47/48 | €5,134 | €59,699 | +€54,565 | +1,063% |
| Accrued charges and deferred income | 492/3 | €1,608 | - | -€1,608 | |
| Turnover | 70 | €474,751 | - | -€474,751 | |
| Non-recurring operating income | 76A | €14,345 | - | -€14,345 | |
| Goods, raw materials, services and sundry goods | 60/61 | €407,301 | - | -€407,301 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,891 | €13,756 | -€134 | -1.0% |
| Other operating charges | 640/8 | €4,968 | €1,572 | -€3,396 | -68.4% |
| Gross operating margin | 9900 | €67,450 | €91,789 | +€24,339 | +36.1% |
| Operating profit (loss) | 9901 | €48,591 | €76,461 | +€27,870 | +57.4% |
| Financial income | 75/76B | €6,897 | €19,219 | +€12,323 | +179% |
| Recurring financial income | 75 | €6,897 | €19,219 | +€12,323 | +179% |
| Financial charges | 65/66B | €13,425 | €5,491 | -€7,935 | -59.1% |
| Recurring financial charges | 65 | €13,425 | €5,491 | -€7,935 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €42,063 | €90,190 | +€48,127 | +114% |
| Income taxes | 67/77 | €13,063 | €22,302 | +€9,239 | +70.7% |
| Profit (loss) for the period | 9904 | €29,000 | €67,888 | +€38,888 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €29,000 | €67,888 | +€38,888 | +134% |
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 30 October 2026 via checked.be.