What changed?
Two fiscal 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.
GACCO
Largest movements
- Tangible fixed assets +€87,896
up €87,896 (+14.1%), from €621,631 to €709,527
of which Land and buildings: +€94,685
- Cash -€81,520
down €81,520 (-38.8%), from €210,087 to €128,567
mainly Contributions, distributions and other (-€242,246) and Investment in fixed assets (net) (-€176,916)
- Current investments -€37,064
down €37,064 (-3.0%), from €1.2m to €1.2m
- Receivables within one year -€30,602
down €30,602 (-69.2%), from €44,214 to €13,612
of which Trade receivables: -€43,878
- Debts after one year -€43,790
down €43,790 (-15.2%), from €287,633 to €243,843
- Reserves -€35,066
down €35,066 (-2.5%), from €1.4m to €1.4m
of which Distributable reserves: -€93,342
- Financial charges +€113,677
up €113,677, from -€106,364 to €7,313
- Taxes -€42,433
down €42,433 (-38.7%), from €109,788 to €67,355
- Other operating charges +€23,709
up €23,709 (+583.5%), from €4,063 to €27,772
- Depreciation +€18,629
up €18,629 (+26.5%), from €70,392 to €89,021
- Gross operating margin +€13,471
up €13,471 (+3.6%), from €369,155 to €382,626
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,125,576 | €2,060,713 | -€64,864 | -3.1% |
| Fixed assets | 21/28 | €621,631 | €709,527 | +€87,896 | +14.1% |
| Tangible fixed assets | 22/27 | €621,631 | €709,527 | +€87,896 | +14.1% |
| Land and buildings | 22 | €609,658 | €704,343 | +€94,685 | +15.5% |
| Plant, machinery and equipment | 23 | €2,339 | €1,196 | -€1,143 | -48.9% |
| Furniture and vehicles | 24 | €9,634 | €3,988 | -€5,646 | -58.6% |
| Current assets | 29/58 | €1,503,945 | €1,351,186 | -€152,760 | -10.2% |
| Amounts receivable within one year | 40/41 | €44,214 | €13,612 | -€30,602 | -69.2% |
| Trade receivables | 40 | €43,990 | €112 | -€43,878 | -99.7% |
| Other amounts receivable | 41 | €224 | €13,500 | +€13,276 | +5936.5% |
| Current investments | 50/53 | €1,242,079 | €1,205,014 | -€37,064 | -3.0% |
| Cash at bank and in hand | 54/58 | €210,087 | €128,567 | -€81,520 | -38.8% |
| Deferred charges and accrued income | 490/1 | €7,566 | €3,992 | -€3,574 | -47.2% |
| Total equity and liabilities | 10/49 | €2,125,576 | €2,060,713 | -€64,864 | -3.1% |
| Equity | 10/15 | €1,417,938 | €1,382,872 | -€35,066 | -2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,405,538 | €1,370,472 | -€35,066 | -2.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €58,277 | +€58,277 | |
| Distributable reserves | 133 | €1,403,678 | €1,310,335 | -€93,342 | -6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €14,569 | +€14,569 | |
| Deferred taxes | 168 | - | €14,569 | +€14,569 | |
| Amounts payable | 17/49 | €707,639 | €663,272 | -€44,367 | -6.3% |
| Amounts payable after more than one year | 17 | €287,633 | €243,843 | -€43,790 | -15.2% |
| Financial debts | 170/4 | €287,633 | €243,843 | -€43,790 | -15.2% |
| Amounts payable within one year | 42/48 | €420,006 | €419,429 | -€577 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €43,255 | €43,790 | +€535 | +1.2% |
| Trade debts | 44 | €4,566 | €10,863 | +€6,297 | +137.9% |
| Suppliers | 440/4 | €4,566 | €10,863 | +€6,297 | +137.9% |
| Taxes, remuneration and social security | 45 | €120,138 | €103,409 | -€16,730 | -13.9% |
| Taxes | 450/3 | €120,138 | €103,409 | -€16,730 | -13.9% |
| Other amounts payable | 47/48 | €252,047 | €261,367 | +€9,320 | +3.7% |
| Non-recurring operating income | 76A | - | €83,753 | +€83,753 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,392 | €89,021 | +€18,629 | +26.5% |
| Other operating charges | 640/8 | €4,063 | €27,772 | +€23,709 | +583.5% |
| Non-recurring operating charges | 66A | - | €10,907 | +€10,907 | |
| Gross operating margin | 9900 | €369,155 | €382,626 | +€13,471 | +3.6% |
| Operating profit (loss) | 9901 | €294,700 | €254,927 | -€39,774 | -13.5% |
| Financial income | 75/76B | €38,011 | €41,490 | +€3,479 | +9.2% |
| Recurring financial income | 75 | €38,011 | €41,490 | +€3,479 | +9.2% |
| Financial charges | 65/66B | -€106,364 | €7,313 | +€113,677 | |
| Recurring financial charges | 65 | -€106,364 | €7,313 | +€113,677 | |
| Profit (loss) for the period before taxes | 9903 | €439,076 | €289,104 | -€149,972 | -34.2% |
| Transfer to deferred taxes | 680 | - | €14,569 | +€14,569 | |
| Income taxes | 67/77 | €109,788 | €67,355 | -€42,433 | -38.7% |
| Profit (loss) for the period | 9904 | €329,288 | €207,180 | -€122,108 | -37.1% |
| Transfer to tax-exempt reserves | 689 | - | €58,277 | +€58,277 | |
| Profit (loss) for the period to be appropriated | 9905 | €329,288 | €148,904 | -€180,384 | -54.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.