GAZZETTA: what changed
GAZZETTA
Largest movements
- Cash +€14,893
up €14,893 (+430%), from €3,460 to €18,354
mainly Contributions, distributions and other (+€35,125) and Net result for the year (+€22,927)
- Tangible fixed assets +€12,715
up €12,715 (+132%), from €9,603 to €22,318
of which Plant, machinery and equipment: +€11,146
- Stocks and contracts +€4,039
up €4,039 (+63.1%), from €6,398 to €10,437
- Receivables within one year +€2,645
up €2,645 (+52,478%), from €5 to €2,650
of which Trade receivables: +€2,645
- Profit (loss) carried forward +€58,052
up €58,052 (+37.6%), from -€154,363 to -€96,312
- Other debts -€23,985
down €23,985 (-88.0%), from €27,260 to €3,275
- Trade debts +€4,264
up €4,264 (+15.1%), from €28,230 to €32,494
- Current portion of long-term debt -€2,468
down €2,468 (-31.7%), from €7,784 to €5,317
- Tax, wage and social debts -€1,332
down €1,332 (-1.8%), from €72,190 to €70,858
of which Remuneration and social security: -€32,544
- Gross operating margin +€53,507
up €53,507 (+12.7%), from €420,658 to €474,165
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,700 | €55,232 | +€34,532 | +167% |
| Fixed assets | 21/28 | €10,103 | €22,818 | +€12,715 | +126% |
| Tangible fixed assets | 22/27 | €9,603 | €22,318 | +€12,715 | +132% |
| Plant, machinery and equipment | 23 | €1,936 | €13,082 | +€11,146 | +576% |
| Furniture and vehicles | 24 | €1,771 | €4,193 | +€2,421 | +137% |
| Other tangible fixed assets | 26 | €5,895 | €5,043 | -€853 | -14.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €10,597 | €32,414 | +€21,817 | +206% |
| Stocks and contracts in progress | 3 | €6,398 | €10,437 | +€4,039 | +63.1% |
| Stocks | 30/36 | €6,398 | €10,437 | +€4,039 | +63.1% |
| Amounts receivable within one year | 40/41 | €5 | €2,650 | +€2,645 | +52,478% |
| Trade receivables | 40 | - | €2,645 | +€2,645 | |
| Other amounts receivable | 41 | €5 | €5 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,460 | €18,354 | +€14,893 | +430% |
| Deferred charges and accrued income | 490/1 | €734 | €973 | +€240 | +32.7% |
| Total equity and liabilities | 10/49 | €20,700 | €55,232 | +€34,532 | +167% |
| Equity | 10/15 | -€114,763 | -€56,712 | +€58,052 | +50.6% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Contributions outside capital | 11 | €36,000 | €36,000 | = | 0.0% |
| Other | 1109/19 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €3,600 | €3,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,600 | €3,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,600 | €3,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,363 | -€96,312 | +€58,052 | +37.6% |
| Amounts payable | 17/49 | €135,463 | €111,943 | -€23,520 | -17.4% |
| Amounts payable within one year | 42/48 | €135,463 | €111,943 | -€23,520 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €7,784 | €5,317 | -€2,468 | -31.7% |
| Trade debts | 44 | €28,230 | €32,494 | +€4,264 | +15.1% |
| Suppliers | 440/4 | €28,230 | €32,494 | +€4,264 | +15.1% |
| Taxes, remuneration and social security | 45 | €72,190 | €70,858 | -€1,332 | -1.8% |
| Taxes | 450/3 | €15,833 | €47,046 | +€31,213 | +197% |
| Remuneration and social security | 454/9 | €56,356 | €23,812 | -€32,544 | -57.7% |
| Other amounts payable | 47/48 | €27,260 | €3,275 | -€23,985 | -88.0% |
| Non-recurring operating income | 76A | - | €189 | +€189 | |
| Remuneration, social security and pensions | 62 | €432,646 | €434,691 | +€2,045 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,114 | €3,425 | +€311 | +10.0% |
| Other operating charges | 640/8 | €7,374 | €4,405 | -€2,969 | -40.3% |
| Non-recurring operating charges | 66A | €1,678 | €1,945 | +€267 | +15.9% |
| Gross operating margin | 9900 | €420,658 | €474,165 | +€53,507 | +12.7% |
| Operating profit (loss) | 9901 | -€24,155 | €29,698 | +€53,853 | |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | €5,265 | €6,798 | +€1,534 | +29.1% |
| Recurring financial charges | 65 | €5,265 | €6,798 | +€1,534 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | -€29,420 | €22,927 | +€52,347 | |
| Profit (loss) for the period | 9904 | -€29,420 | €22,927 | +€52,347 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,420 | €22,927 | +€52,347 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.