GAZGAN: 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.
GAZGAN
Largest movements
- Stocks and contracts -€6,795
down €6,795 (-22.5%), from €30,150 to €23,355
- Cash +€2,690
new in 2025: €2,690
mainly Stocks and contracts (+€6,795) and Depreciation (+€2,142)
- Tangible fixed assets -€2,142
down €2,142 (-6.0%), from €35,559 to €33,417
- Other debts -€8,000
down €8,000 (-5.8%), from €138,251 to €130,251
- Profit (loss) carried forward +€1,400
up €1,400 (+1.5%), from -€92,717 to -€91,316
- Gross operating margin +€4,074
up €4,074, from -€64 to €4,010
- Financial charges +€68
new in 2025: €68
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 | €65,994 | €59,462 | -€6,533 | -9.9% |
| Fixed assets | 21/28 | €35,559 | €33,417 | -€2,142 | -6.0% |
| Tangible fixed assets | 22/27 | €35,559 | €33,417 | -€2,142 | -6.0% |
| Other tangible fixed assets | 26 | €35,559 | €33,417 | -€2,142 | -6.0% |
| Current assets | 29/58 | €30,435 | €26,044 | -€4,391 | -14.4% |
| Stocks and contracts in progress | 3 | €30,150 | €23,355 | -€6,795 | -22.5% |
| Stocks | 30/36 | €30,150 | €23,355 | -€6,795 | -22.5% |
| Amounts receivable within one year | 40/41 | €285 | - | -€285 | |
| Other amounts receivable | 41 | €285 | - | -€285 | |
| Cash at bank and in hand | 54/58 | - | €2,690 | +€2,690 | |
| Total equity and liabilities | 10/49 | €65,994 | €59,462 | -€6,533 | -9.9% |
| Equity | 10/15 | -€72,257 | -€70,856 | +€1,400 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,717 | -€91,316 | +€1,400 | +1.5% |
| Amounts payable | 17/49 | €138,251 | €130,318 | -€7,933 | -5.7% |
| Amounts payable within one year | 42/48 | €138,251 | €130,318 | -€7,933 | -5.7% |
| Trade debts | 44 | - | €67 | +€67 | |
| Suppliers | 440/4 | - | €67 | +€67 | |
| Other amounts payable | 47/48 | €138,251 | €130,251 | -€8,000 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,142 | €2,142 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €1,238 | - | -€1,238 | |
| Gross operating margin | 9900 | -€64 | €4,010 | +€4,074 | |
| Operating profit (loss) | 9901 | -€3,832 | €1,469 | +€5,300 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | - | €68 | +€68 | |
| Recurring financial charges | 65 | - | €68 | +€68 | |
| Profit (loss) for the period before taxes | 9903 | -€3,832 | €1,400 | +€5,232 | |
| Profit (loss) for the period | 9904 | -€3,832 | €1,400 | +€5,232 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,832 | €1,400 | +€5,232 |
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 24 October 2026 via checked.be.