GADEX: 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.
GADEX
Largest movements
- Receivables within one year +€35,392
up €35,392 (+1.3%), from €2.8m to €2.8m
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€472,055
down €472,055, from €468,712 to -€3,343
- Taxes -€121,663
down €121,663 (-97.2%), from €125,153 to €3,490
- Financial charges -€12,781
down €12,781 (-45.4%), from €28,150 to €15,369
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,860,500 | €2,874,372 | +€13,872 | +0.5% |
| Fixed assets | 21/28 | €151 | €150 | -€1 | -0.7% |
| Financial fixed assets | 28 | €151 | €150 | -€1 | -0.7% |
| Current assets | 29/58 | €2,860,349 | €2,874,222 | +€13,873 | +0.5% |
| Amounts receivable within one year | 40/41 | €2,805,214 | €2,840,606 | +€35,392 | +1.3% |
| Other amounts receivable | 41 | €2,805,214 | €2,840,606 | +€35,392 | +1.3% |
| Cash at bank and in hand | 54/58 | €25,770 | €958 | -€24,812 | -96.3% |
| Deferred charges and accrued income | 490/1 | €29,365 | €32,658 | +€3,293 | +11.2% |
| Total equity and liabilities | 10/49 | €2,860,500 | €2,874,372 | +€13,872 | +0.5% |
| Equity | 10/15 | €2,564,499 | €2,574,087 | +€9,588 | +0.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,158,200 | €2,158,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,152,000 | €2,152,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €344,299 | €353,887 | +€9,588 | +2.8% |
| Amounts payable | 17/49 | €296,001 | €300,285 | +€4,284 | +1.4% |
| Amounts payable within one year | 42/48 | €296,001 | €300,285 | +€4,284 | +1.4% |
| Trade debts | 44 | €2,435 | €2,137 | -€298 | -12.2% |
| Suppliers | 440/4 | €2,435 | €2,137 | -€298 | -12.2% |
| Taxes, remuneration and social security | 45 | €250,805 | €269,087 | +€18,282 | +7.3% |
| Taxes | 450/3 | €250,805 | €269,087 | +€18,282 | +7.3% |
| Other amounts payable | 47/48 | €42,761 | €29,061 | -€13,700 | -32.0% |
| Non-recurring operating income | 76A | €1,426 | - | -€1,426 | |
| Other operating charges | 640/8 | €1,218 | €868 | -€350 | -28.7% |
| Gross operating margin | 9900 | €468,712 | -€3,343 | -€472,055 | |
| Operating profit (loss) | 9901 | €467,494 | -€4,211 | -€471,705 | |
| Financial income | 75/76B | €29,366 | €32,658 | +€3,292 | +11.2% |
| Recurring financial income | 75 | €29,366 | €32,658 | +€3,292 | +11.2% |
| Financial charges | 65/66B | €28,150 | €15,369 | -€12,781 | -45.4% |
| Recurring financial charges | 65 | €28,150 | €15,369 | -€12,781 | -45.4% |
| Profit (loss) for the period before taxes | 9903 | €468,710 | €13,078 | -€455,632 | -97.2% |
| Income taxes | 67/77 | €125,153 | €3,490 | -€121,663 | -97.2% |
| Profit (loss) for the period | 9904 | €343,557 | €9,588 | -€333,969 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €343,557 | €9,588 | -€333,969 | -97.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.