GOGEPAM: 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.
GOGEPAM
Largest movements
- Receivables within one year -€1.4m
down €1.4m (-97.3%), from €1.4m to €38,570
of which Other amounts receivable: -€1.4m
- Cash -€185,847
down €185,847 (-21.0%), from €884,056 to €698,209
mainly Contributions, distributions and other (-€1.3m) and Other debts (-€601,060)
- Current investments +€133,972
up €133,972 (+16.6%), from €807,958 to €941,930
- Other debts -€601,060
down €601,060 (-71.8%), from €836,912 to €235,852
- Reserves -€591,058
down €591,058 (-34.1%), from €1.7m to €1.1m
of which Distributable reserves: -€591,058
- Profit (loss) carried forward -€262,345
no longer reported in 2025 (was €262,345)
- Provisions -€240,000
no longer reported in 2025 (was €240,000)
- Tax, wage and social debts +€218,153
up €218,153 (+251%), from €86,894 to €305,047
- Gross operating margin +€239,641
up €239,641 (+92.2%), from €259,884 to €499,525
- Taxes +€78,061
up €78,061 (+99.3%), from €78,603 to €156,663
- Financial income +€42,335
up €42,335 (+45.3%), from €93,358 to €135,693
- Depreciation -€14,809
down €14,809 (-46.0%), from €32,179 to €17,369
- Other operating charges -€7,039
down €7,039 (-89.9%), from €7,829 to €790
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 | €3,176,199 | €1,701,230 | -€1.5m | -46.4% |
| Fixed assets | 21/28 | €39,891 | €22,521 | -€17,369 | -43.5% |
| Tangible fixed assets | 22/27 | €39,765 | €22,395 | -€17,369 | -43.7% |
| Plant, machinery and equipment | 23 | €11,968 | €10,361 | -€1,607 | -13.4% |
| Furniture and vehicles | 24 | €27,797 | €12,034 | -€15,763 | -56.7% |
| Financial fixed assets | 28 | €126 | €126 | = | 0.0% |
| Current assets | 29/58 | €3,136,308 | €1,678,709 | -€1.5m | -46.5% |
| Amounts receivable within one year | 40/41 | €1,444,293 | €38,570 | -€1.4m | -97.3% |
| Trade receivables | 40 | - | €38,570 | +€38,570 | |
| Other amounts receivable | 41 | €1,444,293 | - | -€1.4m | |
| Current investments | 50/53 | €807,958 | €941,930 | +€133,972 | +16.6% |
| Cash at bank and in hand | 54/58 | €884,056 | €698,209 | -€185,847 | -21.0% |
| Total equity and liabilities | 10/49 | €3,176,199 | €1,701,230 | -€1.5m | -46.4% |
| Equity | 10/15 | €2,010,568 | €1,157,165 | -€853,402 | -42.4% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €1,733,963 | €1,142,905 | -€591,058 | -34.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,733,963 | €1,142,905 | -€591,058 | -34.1% |
| Profit (loss) carried forward | 14 | €262,345 | - | -€262,345 | |
| Provisions and deferred taxes | 16 | €240,000 | - | -€240,000 | |
| Provisions for liabilities and charges | 160/5 | €240,000 | - | -€240,000 | |
| Other liabilities and charges | 164/5 | €240,000 | - | -€240,000 | |
| Amounts payable | 17/49 | €925,631 | €544,065 | -€381,566 | -41.2% |
| Amounts payable within one year | 42/48 | €925,631 | €544,065 | -€381,566 | -41.2% |
| Trade debts | 44 | €1,826 | €3,166 | +€1,341 | +73.4% |
| Suppliers | 440/4 | €1,826 | €3,166 | +€1,341 | +73.4% |
| Taxes, remuneration and social security | 45 | €86,894 | €305,047 | +€218,153 | +251% |
| Taxes | 450/3 | €86,894 | €305,047 | +€218,153 | +251% |
| Other amounts payable | 47/48 | €836,912 | €235,852 | -€601,060 | -71.8% |
| Non-recurring operating income | 76A | €32,650 | €240,000 | +€207,350 | +635% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,179 | €17,369 | -€14,809 | -46.0% |
| Other operating charges | 640/8 | €7,829 | €790 | -€7,039 | -89.9% |
| Gross operating margin | 9900 | €259,884 | €499,525 | +€239,641 | +92.2% |
| Operating profit (loss) | 9901 | €219,876 | €481,366 | +€261,489 | +119% |
| Financial income | 75/76B | €93,358 | €135,693 | +€42,335 | +45.3% |
| Recurring financial income | 75 | €93,358 | €135,693 | +€42,335 | +45.3% |
| Financial charges | 65/66B | €74 | - | -€74 | |
| Recurring financial charges | 65 | €74 | - | -€74 | |
| Profit (loss) for the period before taxes | 9903 | €313,160 | €617,059 | +€303,899 | +97.0% |
| Income taxes | 67/77 | €78,603 | €156,663 | +€78,061 | +99.3% |
| Profit (loss) for the period | 9904 | €234,558 | €460,396 | +€225,838 | +96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €234,558 | €460,396 | +€225,838 | +96.3% |
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.