GNAP: what changed
Two fiscal 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.
GNAP
Largest movements
- Receivables within one year +€542,475
up €542,475 (+34.6%), from €1.6m to €2.1m
of which Other amounts receivable: +€657,353
- Tangible fixed assets -€191,181
down €191,181 (-6.4%), from €3.0m to €2.8m
of which Land and buildings: -€124,280
- Cash -€112,534
down €112,534 (-29.8%), from €377,185 to €264,651
mainly Receivables within one year (-€542,475) and Investment in fixed assets (net) (-€100,070)
- Stocks and contracts -€109,688
down €109,688 (-4.7%), from €2.3m to €2.2m
- Profit (loss) carried forward +€226,681
up €226,681 (+56.6%), from €400,322 to €627,004
- Turnover +€6.5m
new in 2025: €6.5m
- Purchases and services +€4.6m
new in 2025: €4.6m
- Gross operating margin -€140,362
down €140,362 (-6.3%), from €2.2m to €2.1m
- Staff costs -€75,320
down €75,320 (-4.6%), from €1.6m to €1.5m
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.
Cash bridge derived
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 | €7,292,953 | €7,419,344 | +€126,392 | +1.7% |
| Fixed assets | 21/28 | €2,984,423 | €2,793,242 | -€191,181 | -6.4% |
| Tangible fixed assets | 22/27 | €2,982,743 | €2,791,562 | -€191,181 | -6.4% |
| Land and buildings | 22 | €2,594,183 | €2,469,903 | -€124,280 | -4.8% |
| Plant, machinery and equipment | 23 | €323,580 | €274,897 | -€48,683 | -15.0% |
| Furniture and vehicles | 24 | €64,980 | €46,761 | -€18,219 | -28.0% |
| Financial fixed assets | 28 | €1,679 | €1,679 | = | 0.0% |
| Current assets | 29/58 | €4,308,530 | €4,626,103 | +€317,573 | +7.4% |
| Stocks and contracts in progress | 3 | €2,327,125 | €2,217,436 | -€109,688 | -4.7% |
| Stocks | 30/36 | €2,327,125 | €2,217,436 | -€109,688 | -4.7% |
| Amounts receivable within one year | 40/41 | €1,567,299 | €2,109,775 | +€542,475 | +34.6% |
| Trade receivables | 40 | €962,516 | €847,638 | -€114,878 | -11.9% |
| Other amounts receivable | 41 | €604,783 | €1,262,137 | +€657,353 | +108.7% |
| Cash at bank and in hand | 54/58 | €377,185 | €264,651 | -€112,534 | -29.8% |
| Deferred charges and accrued income | 490/1 | €36,921 | €34,241 | -€2,680 | -7.3% |
| Total equity and liabilities | 10/49 | €7,292,953 | €7,419,344 | +€126,392 | +1.7% |
| Equity | 10/15 | €6,141,087 | €6,367,768 | +€226,681 | +3.7% |
| Contributions | 10/11 | €5,588,738 | €5,588,738 | = | 0.0% |
| Reserves | 13 | €152,027 | €152,027 | = | 0.0% |
| Non-distributable reserves | 130/1 | €65,898 | €65,898 | = | 0.0% |
| Reserves not available under the articles | 1311 | €65,898 | €65,898 | = | 0.0% |
| Distributable reserves | 133 | €86,129 | €86,129 | = | 0.0% |
| Profit (loss) carried forward | 14 | €400,322 | €627,004 | +€226,681 | +56.6% |
| Amounts payable | 17/49 | €1,151,865 | €1,051,576 | -€100,290 | -8.7% |
| Amounts payable within one year | 42/48 | €1,120,852 | €1,032,184 | -€88,668 | -7.9% |
| Trade debts | 44 | €807,884 | €740,719 | -€67,166 | -8.3% |
| Suppliers | 440/4 | €807,884 | €740,719 | -€67,166 | -8.3% |
| Advances received on contracts in progress | 46 | €6,697 | €8,733 | +€2,036 | +30.4% |
| Taxes, remuneration and social security | 45 | €295,562 | €271,037 | -€24,525 | -8.3% |
| Taxes | 450/3 | €102,017 | €97,003 | -€5,014 | -4.9% |
| Remuneration and social security | 454/9 | €193,545 | €174,034 | -€19,510 | -10.1% |
| Other amounts payable | 47/48 | €10,708 | €11,694 | +€987 | +9.2% |
| Accrued charges and deferred income | 492/3 | €31,014 | €19,392 | -€11,622 | -37.5% |
| Turnover | 70 | - | €6,529,594 | +€6.5m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €4,585,778 | +€4.6m | |
| Remuneration, social security and pensions | 62 | €1,624,634 | €1,549,314 | -€75,320 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,257 | €291,251 | +€3,995 | +1.4% |
| Other operating charges | 640/8 | €26,931 | €18,745 | -€8,185 | -30.4% |
| Non-recurring operating charges | 66A | €20,477 | €0 | -€20,477 | -100.0% |
| Gross operating margin | 9900 | €2,213,490 | €2,073,127 | -€140,362 | -6.3% |
| Operating profit (loss) | 9901 | €254,191 | €213,817 | -€40,374 | -15.9% |
| Financial income | 75/76B | €30,381 | €23,167 | -€7,214 | -23.7% |
| Recurring financial income | 75 | €30,381 | €23,167 | -€7,214 | -23.7% |
| Financial charges | 65/66B | €10,350 | €9,886 | -€464 | -4.5% |
| Recurring financial charges | 65 | €10,350 | €9,886 | -€464 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €274,222 | €227,098 | -€47,125 | -17.2% |
| Income taxes | 67/77 | €407 | €417 | +€10 | +2.4% |
| Profit (loss) for the period | 9904 | €273,815 | €226,681 | -€47,134 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €273,815 | €226,681 | -€47,134 | -17.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.