PAUL GADEYNE: 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.
PAUL GADEYNE
Largest movements
- Cash +€6,642
up €6,642 (+7.0%), from €94,923 to €101,565
mainly Net result for the year (+€6,155) and Debts after one year (+€5,000)
- Tangible fixed assets +€2,206
up €2,206 (+19.8%), from €11,124 to €13,330
of which Furniture and vehicles: +€3,072
- Receivables within one year -€1,536
down €1,536 (-30.1%), from €5,096 to €3,561
of which Trade receivables: -€1,260
- Reserves +€6,000
up €6,000 (+6.4%), from €93,560 to €99,560
of which Distributable reserves: +€6,000
- Debts after one year +€5,000
new in 2025: €5,000
- Other debts -€1,934
down €1,934 (-37.3%), from €5,191 to €3,257
- Tax, wage and social debts -€1,831
no longer reported in 2025 (was €1,831)
- Taxes +€1,118
up €1,118 (+47.7%), from €2,343 to €3,461
- Gross operating margin -€984
down €984 (-6.8%), from €14,523 to €13,538
- Depreciation +€310
up €310 (+13.6%), from €2,270 to €2,580
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 | €111,393 | €118,725 | +€7,332 | +6.6% |
| Fixed assets | 21/28 | €11,124 | €13,330 | +€2,206 | +19.8% |
| Tangible fixed assets | 22/27 | €11,124 | €13,330 | +€2,206 | +19.8% |
| Furniture and vehicles | 24 | €6,783 | €9,855 | +€3,072 | +45.3% |
| Other tangible fixed assets | 26 | €4,340 | €3,475 | -€865 | -19.9% |
| Current assets | 29/58 | €100,269 | €105,395 | +€5,126 | +5.1% |
| Amounts receivable within one year | 40/41 | €5,096 | €3,561 | -€1,536 | -30.1% |
| Trade receivables | 40 | €4,080 | €2,820 | -€1,260 | -30.9% |
| Other amounts receivable | 41 | €1,016 | €741 | -€276 | -27.1% |
| Cash at bank and in hand | 54/58 | €94,923 | €101,565 | +€6,642 | +7.0% |
| Deferred charges and accrued income | 490/1 | €250 | €270 | +€20 | +8.0% |
| Total equity and liabilities | 10/49 | €111,393 | €118,725 | +€7,332 | +6.6% |
| Equity | 10/15 | €104,204 | €110,359 | +€6,155 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,560 | €99,560 | +€6,000 | +6.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €91,700 | €97,700 | +€6,000 | +6.5% |
| Profit (loss) carried forward | 14 | €4,444 | €4,599 | +€155 | +3.5% |
| Amounts payable | 17/49 | €7,189 | €8,366 | +€1,177 | +16.4% |
| Amounts payable after more than one year | 17 | - | €5,000 | +€5,000 | |
| Other amounts payable | 178/9 | - | €5,000 | +€5,000 | |
| Amounts payable within one year | 42/48 | €7,189 | €3,366 | -€3,823 | -53.2% |
| Trade debts | 44 | €167 | €109 | -€58 | -34.7% |
| Suppliers | 440/4 | €167 | €109 | -€58 | -34.7% |
| Taxes, remuneration and social security | 45 | €1,831 | - | -€1,831 | |
| Taxes | 450/3 | €1,831 | - | -€1,831 | |
| Other amounts payable | 47/48 | €5,191 | €3,257 | -€1,934 | -37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,270 | €2,580 | +€310 | +13.6% |
| Other operating charges | 640/8 | €1,272 | €1,300 | +€28 | +2.2% |
| Gross operating margin | 9900 | €14,523 | €13,538 | -€984 | -6.8% |
| Operating profit (loss) | 9901 | €10,980 | €9,658 | -€1,321 | -12.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €42 | €42 | -€0 | 0.0% |
| Recurring financial charges | 65 | €42 | €42 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €10,938 | €9,616 | -€1,321 | -12.1% |
| Income taxes | 67/77 | €2,343 | €3,461 | +€1,118 | +47.7% |
| Profit (loss) for the period | 9904 | €8,594 | €6,155 | -€2,439 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,594 | €6,155 | -€2,439 | -28.4% |
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 28 October 2026 via checked.be.