't GEWAT: 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.
't GEWAT
Largest movements
- Current investments -€1.7m
down €1.7m (-100%), from €1.7m to €0
- Cash +€759,231
up €759,231 (+916%), from €82,912 to €842,143
mainly Current investments (+€1.7m) and Net result for the year (+€10,757)
- Receivables within one year +€595,062
up €595,062 (+24.7%), from €2.4m to €3.0m
of which Other amounts receivable: +€595,062
- Financial fixed assets +€281,701
up €281,701 (+4.9%), from €5.8m to €6.1m
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€20,197
down €20,197 (-49.8%), from €40,524 to €20,328
- Taxes +€4,063
up €4,063 (+6,336%), from €64 to €4,127
- Financial charges +€1,248
up €1,248 (+328%), from €380 to €1,628
of which Non-recurring financial charges: +€1,624
- Gross operating margin +€922
up €922 (+25.7%), from -€3,588 to -€2,666
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 | €10,285,118 | €10,221,112 | -€64,006 | -0.6% |
| Fixed assets | 21/28 | €6,093,964 | €6,375,665 | +€281,701 | +4.6% |
| Tangible fixed assets | 22/27 | €301,149 | €301,149 | = | 0.0% |
| Land and buildings | 22 | €301,149 | €301,149 | = | 0.0% |
| Financial fixed assets | 28 | €5,792,815 | €6,074,517 | +€281,701 | +4.9% |
| Current assets | 29/58 | €4,191,154 | €3,845,447 | -€345,707 | -8.2% |
| Amounts receivable within one year | 40/41 | €2,408,241 | €3,003,303 | +€595,062 | +24.7% |
| Trade receivables | 40 | €30,136 | €30,136 | = | 0.0% |
| Other amounts receivable | 41 | €2,378,105 | €2,973,167 | +€595,062 | +25.0% |
| Current investments | 50/53 | €1,700,000 | €0 | -€1.7m | -100% |
| Cash at bank and in hand | 54/58 | €82,912 | €842,143 | +€759,231 | +916% |
| Total equity and liabilities | 10/49 | €10,285,118 | €10,221,112 | -€64,006 | -0.6% |
| Equity | 10/15 | €6,213,662 | €6,224,419 | +€10,757 | +0.2% |
| Contributions | 10/11 | €3,823,000 | €3,823,000 | = | 0.0% |
| Capital | 10 | €3,823,000 | €3,823,000 | = | 0.0% |
| Issued capital | 100 | €3,823,000 | €3,823,000 | = | 0.0% |
| Reserves | 13 | €2,390,662 | €2,401,419 | +€10,757 | +0.4% |
| Non-distributable reserves | 130/1 | €123,739 | €124,276 | +€538 | +0.4% |
| Legal reserve | 130 | €123,739 | €124,276 | +€538 | +0.4% |
| Distributable reserves | 133 | €2,266,923 | €2,277,143 | +€10,219 | +0.5% |
| Amounts payable | 17/49 | €4,071,456 | €3,996,693 | -€74,763 | -1.8% |
| Amounts payable after more than one year | 17 | €4,066,454 | €3,990,691 | -€75,763 | -1.9% |
| Other amounts payable | 178/9 | €4,066,454 | €3,990,691 | -€75,763 | -1.9% |
| Amounts payable within one year | 42/48 | €5,002 | €6,002 | +€1,000 | +20.0% |
| Trade debts | 44 | €126 | €1,126 | +€1,000 | +794% |
| Suppliers | 440/4 | €126 | €1,126 | +€1,000 | +794% |
| Other amounts payable | 47/48 | €4,876 | €4,876 | = | 0.0% |
| Other operating charges | 640/8 | €1,116 | €1,150 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€3,588 | -€2,666 | +€922 | +25.7% |
| Operating profit (loss) | 9901 | -€4,704 | -€3,816 | +€888 | +18.9% |
| Financial income | 75/76B | €40,524 | €20,328 | -€20,197 | -49.8% |
| Recurring financial income | 75 | €40,524 | €20,328 | -€20,197 | -49.8% |
| Financial charges | 65/66B | €380 | €1,628 | +€1,248 | +328% |
| Recurring financial charges | 65 | €380 | €4 | -€377 | -99.1% |
| Non-recurring financial charges | 66B | - | €1,624 | +€1,624 | |
| Profit (loss) for the period before taxes | 9903 | €35,440 | €14,884 | -€20,556 | -58.0% |
| Income taxes | 67/77 | €64 | €4,127 | +€4,063 | +6,336% |
| Profit (loss) for the period | 9904 | €35,376 | €10,757 | -€24,619 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,376 | €10,757 | -€24,619 | -69.6% |
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.