GFASS: 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.
GFASS
Largest movements
- Cash -€38,304
down €38,304 (-47.9%), from €79,908 to €41,604
mainly Contributions, distributions and other (-€22,923) and Receivables within one year (-€22,113)
- Receivables within one year +€22,113
up €22,113 (+278%), from €7,961 to €30,074
of which Other amounts receivable: +€26,767
- Tangible fixed assets -€10,973
down €10,973 (-4.0%), from €274,022 to €263,048
of which Land and buildings: -€8,200
- Debts after one year -€17,140
down €17,140 (-21.0%), from €81,529 to €64,389
- Profit (loss) carried forward -€5,583
no longer reported in 2025 (was €5,583)
- Gross operating margin -€3,850
down €3,850 (-11.5%), from €33,373 to €29,523
- Financial income +€431
up €431 (+132%), from €327 to €758
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 | €361,891 | €335,352 | -€26,539 | -7.3% |
| Fixed assets | 21/28 | €274,022 | €263,048 | -€10,973 | -4.0% |
| Tangible fixed assets | 22/27 | €274,022 | €263,048 | -€10,973 | -4.0% |
| Land and buildings | 22 | €251,235 | €243,035 | -€8,200 | -3.3% |
| Plant, machinery and equipment | 23 | €22,787 | €20,013 | -€2,773 | -12.2% |
| Current assets | 29/58 | €87,869 | €72,304 | -€15,566 | -17.7% |
| Amounts receivable within one year | 40/41 | €7,961 | €30,074 | +€22,113 | +278% |
| Trade receivables | 40 | €4,654 | - | -€4,654 | |
| Other amounts receivable | 41 | €3,307 | €30,074 | +€26,767 | +809% |
| Cash at bank and in hand | 54/58 | €79,908 | €41,604 | -€38,304 | -47.9% |
| Deferred charges and accrued income | 490/1 | - | €626 | +€626 | |
| Total equity and liabilities | 10/49 | €361,891 | €335,352 | -€26,539 | -7.3% |
| Equity | 10/15 | €218,947 | €211,497 | -€7,450 | -3.4% |
| Contributions | 10/11 | €66,931 | €66,931 | = | 0.0% |
| Capital | 10 | €66,931 | €66,931 | = | 0.0% |
| Issued capital | 100 | €66,931 | €66,931 | = | 0.0% |
| Reserves | 13 | €146,432 | €144,566 | -€1,867 | -1.3% |
| Non-distributable reserves | 130/1 | €6,693 | €6,693 | = | 0.0% |
| Legal reserve | 130 | €6,693 | €6,693 | = | 0.0% |
| Tax-exempt reserves | 132 | €46,667 | €44,800 | -€1,867 | -4.0% |
| Distributable reserves | 133 | €93,073 | €93,073 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,583 | - | -€5,583 | |
| Provisions and deferred taxes | 16 | €20,000 | €19,200 | -€800 | -4.0% |
| Deferred taxes | 168 | €20,000 | €19,200 | -€800 | -4.0% |
| Amounts payable | 17/49 | €122,944 | €104,655 | -€18,290 | -14.9% |
| Amounts payable after more than one year | 17 | €81,529 | €64,389 | -€17,140 | -21.0% |
| Financial debts | 170/4 | €81,529 | €64,389 | -€17,140 | -21.0% |
| Amounts payable within one year | 42/48 | €40,016 | €40,266 | +€250 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €16,963 | €17,140 | +€177 | +1.0% |
| Trade debts | 44 | €2,885 | - | -€2,885 | |
| Suppliers | 440/4 | €2,885 | - | -€2,885 | |
| Taxes, remuneration and social security | 45 | €168 | €168 | = | 0.0% |
| Taxes | 450/3 | €168 | €168 | = | 0.0% |
| Other amounts payable | 47/48 | €20,000 | €22,958 | +€2,958 | +14.8% |
| Accrued charges and deferred income | 492/3 | €1,400 | - | -€1,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,973 | €10,973 | = | 0.0% |
| Other operating charges | 640/8 | €3,069 | €3,164 | +€96 | +3.1% |
| Gross operating margin | 9900 | €33,373 | €29,523 | -€3,850 | -11.5% |
| Operating profit (loss) | 9901 | €19,331 | €15,385 | -€3,946 | -20.4% |
| Financial income | 75/76B | €327 | €758 | +€431 | +132% |
| Recurring financial income | 75 | €327 | €758 | +€431 | +132% |
| Financial charges | 65/66B | €1,327 | €1,317 | -€10 | -0.7% |
| Recurring financial charges | 65 | €1,327 | €1,317 | -€10 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €18,331 | €14,826 | -€3,504 | -19.1% |
| Transfer from deferred taxes | 780 | €800 | €800 | = | 0.0% |
| Income taxes | 67/77 | €266 | €153 | -€113 | -42.4% |
| Profit (loss) for the period | 9904 | €18,865 | €15,473 | -€3,392 | -18.0% |
| Transfer from tax-exempt reserves | 789 | €1,867 | €1,867 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,732 | €17,340 | -€3,392 | -16.4% |
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 27 October 2026 via checked.be.