HET GEWAD: 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.
HET GEWAD
Largest movements
- Current investments -€21,956
no longer reported in 2025 (was €21,956)
- Cash +€21,370
up €21,370 (+93.1%), from €22,960 to €44,330
mainly Current investments (+€21,956)
- Contributions +€1,860
up €1,860 (+10.0%), from €18,600 to €20,460
- Reserves -€1,860
down €1,860 (-0.7%), from €263,860 to €262,000
of which Non-distributable reserves: -€1,860
- Profit (loss) carried forward -€586
down €586 (-0.2%), from -€240,052 to -€240,638
- Gross operating margin +€345
up €345 (+39.5%), from -€873 to -€528
- Financial charges +€24
up €24 (+70.6%), from €34 to €58
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 | €45,908 | €45,322 | -€586 | -1.3% |
| Current assets | 29/58 | €45,908 | €45,322 | -€586 | -1.3% |
| Amounts receivable within one year | 40/41 | €992 | €992 | = | 0.0% |
| Other amounts receivable | 41 | €992 | €992 | = | 0.0% |
| Current investments | 50/53 | €21,956 | - | -€21,956 | |
| Cash at bank and in hand | 54/58 | €22,960 | €44,330 | +€21,370 | +93.1% |
| Total equity and liabilities | 10/49 | €45,908 | €45,322 | -€586 | -1.3% |
| Equity | 10/15 | €42,408 | €41,822 | -€586 | -1.4% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €263,860 | €262,000 | -€1,860 | -0.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €262,000 | €262,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€240,052 | -€240,638 | -€586 | -0.2% |
| Provisions and deferred taxes | 16 | €3,500 | €3,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,500 | €3,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €3,500 | €3,500 | = | 0.0% |
| Gross operating margin | 9900 | -€873 | -€528 | +€345 | +39.5% |
| Operating profit (loss) | 9901 | -€873 | -€528 | +€345 | +39.5% |
| Financial charges | 65/66B | €34 | €58 | +€24 | +70.6% |
| Recurring financial charges | 65 | €34 | €58 | +€24 | +70.6% |
| Profit (loss) for the period before taxes | 9903 | -€907 | -€586 | +€321 | +35.4% |
| Profit (loss) for the period | 9904 | -€907 | -€586 | +€321 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€907 | -€586 | +€321 | +35.4% |
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 30 September 2026 via checked.be.