GELACH: 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.
GELACH
Largest movements
- Receivables within one year -€21,772
down €21,772 (-56.8%), from €38,350 to €16,578
of which Trade receivables: -€14,176
- Cash -€18,769
down €18,769 (-63.3%), from €29,638 to €10,869
mainly Contributions, distributions and other (-€98,681) and Short-term financial debts (-€3,232)
- Tangible fixed assets -€7,977
down €7,977 (-9.7%), from €82,592 to €74,614
of which Land and buildings: -€7,003
- Reserves -€82,054
down €82,054 (-41.7%), from €196,933 to €114,880
- Other debts +€32,851
up €32,851 (+1,972%), from €1,666 to €34,517
- Trade debts +€6,959
up €6,959 (+1,279%), from €544 to €7,503
- Short-term financial debts -€3,232
down €3,232 (-13.4%), from €24,101 to €20,869
- Tax, wage and social debts -€3,042
down €3,042 (-91.1%), from €3,340 to €298
- Gross operating margin -€5,454
down €5,454 (-11.5%), from €47,229 to €41,775
- Financial charges +€911
up €911 (+33.9%), from €2,691 to €3,603
- Taxes -€820
down €820 (-8.4%), from €9,750 to €8,930
- Financial income -€696
down €696 (-100%), from €696 to €0
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 | €150,579 | €102,061 | -€48,519 | -32.2% |
| Fixed assets | 21/28 | €82,592 | €74,614 | -€7,977 | -9.7% |
| Tangible fixed assets | 22/27 | €82,592 | €74,614 | -€7,977 | -9.7% |
| Land and buildings | 22 | €80,538 | €73,534 | -€7,003 | -8.7% |
| Furniture and vehicles | 24 | €1,776 | €1,080 | -€696 | -39.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €278 | €0 | -€278 | -100% |
| Current assets | 29/58 | €67,988 | €27,446 | -€40,541 | -59.6% |
| Amounts receivable within one year | 40/41 | €38,350 | €16,578 | -€21,772 | -56.8% |
| Trade receivables | 40 | €14,683 | €507 | -€14,176 | -96.5% |
| Other amounts receivable | 41 | €23,666 | €16,070 | -€7,596 | -32.1% |
| Cash at bank and in hand | 54/58 | €29,638 | €10,869 | -€18,769 | -63.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €150,579 | €102,061 | -€48,519 | -32.2% |
| Equity | 10/15 | €120,928 | €38,874 | -€82,054 | -67.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €196,933 | €114,880 | -€82,054 | -41.7% |
| Distributable reserves | 133 | €196,933 | €114,880 | -€82,054 | -41.7% |
| Profit (loss) carried forward | 14 | -€94,606 | -€94,606 | = | 0.0% |
| Amounts payable | 17/49 | €29,652 | €63,187 | +€33,535 | +113% |
| Amounts payable within one year | 42/48 | €29,652 | €63,187 | +€33,535 | +113% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €24,101 | €20,869 | -€3,232 | -13.4% |
| Credit institutions | 430/8 | €24,101 | €20,869 | -€3,232 | -13.4% |
| Trade debts | 44 | €544 | €7,503 | +€6,959 | +1,279% |
| Suppliers | 440/4 | €544 | €7,503 | +€6,959 | +1,279% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,340 | €298 | -€3,042 | -91.1% |
| Taxes | 450/3 | €3,340 | €298 | -€3,042 | -91.1% |
| Other amounts payable | 47/48 | €1,666 | €34,517 | +€32,851 | +1,972% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,716 | €7,977 | +€261 | +3.4% |
| Other operating charges | 640/8 | €4,957 | €4,638 | -€319 | -6.4% |
| Gross operating margin | 9900 | €47,229 | €41,775 | -€5,454 | -11.5% |
| Operating profit (loss) | 9901 | €34,556 | €29,159 | -€5,396 | -15.6% |
| Financial income | 75/76B | €696 | €0 | -€696 | -100% |
| Recurring financial income | 75 | €696 | €0 | -€696 | -100% |
| Financial charges | 65/66B | €2,691 | €3,603 | +€911 | +33.9% |
| Recurring financial charges | 65 | €2,691 | €3,603 | +€911 | +33.9% |
| Profit (loss) for the period before taxes | 9903 | €32,560 | €25,557 | -€7,004 | -21.5% |
| Income taxes | 67/77 | €9,750 | €8,930 | -€820 | -8.4% |
| Profit (loss) for the period | 9904 | €22,811 | €16,627 | -€6,183 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,811 | €16,627 | -€6,183 | -27.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.