GASPADELE: 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.
GASPADELE
Largest movements
- Tangible fixed assets +€323,029
up €323,029 (+1,750%), from €18,459 to €341,488
of which Land and buildings: +€340,222
- Cash +€12,833
up €12,833 (+29.3%), from €43,794 to €56,627
mainly Debts after one year (+€306,586) and Depreciation (+€24,979)
- Debts after one year +€306,586
new in 2025: €306,586
- Profit (loss) carried forward +€12,806
up €12,806 (+28.4%), from €45,102 to €57,908
- Current portion of long-term debt +€11,832
new in 2025: €11,832
- Tax, wage and social debts +€6,323
up €6,323 (+29.6%), from €21,370 to €27,692
of which Taxes: +€6,365
- Depreciation +€22,126
up €22,126 (+776%), from €2,852 to €24,979
- Financial charges +€8,875
up €8,875 (+239%), from €3,719 to €12,594
- Gross operating margin -€8,133
down €8,133 (-12.4%), from €65,520 to €57,387
- Taxes -€7,557
down €7,557 (-57.5%), from €13,153 to €5,596
- Other operating charges +€704
up €704 (+99.4%), from €708 to €1,413
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 | €73,900 | €410,816 | +€336,916 | +456% |
| Fixed assets | 21/28 | €18,459 | €341,488 | +€323,029 | +1,750% |
| Tangible fixed assets | 22/27 | €18,459 | €341,488 | +€323,029 | +1,750% |
| Land and buildings | 22 | - | €340,222 | +€340,222 | |
| Furniture and vehicles | 24 | €779 | €1,266 | +€487 | +62.6% |
| Assets under construction and advance payments | 27 | €17,680 | €0 | -€17,680 | -100% |
| Current assets | 29/58 | €55,441 | €69,328 | +€13,887 | +25.0% |
| Amounts receivable within one year | 40/41 | €11,175 | €12,584 | +€1,409 | +12.6% |
| Trade receivables | 40 | €11,164 | €12,584 | +€1,420 | +12.7% |
| Other amounts receivable | 41 | €11 | €0 | -€11 | -100% |
| Cash at bank and in hand | 54/58 | €43,794 | €56,627 | +€12,833 | +29.3% |
| Deferred charges and accrued income | 490/1 | €472 | €117 | -€355 | -75.2% |
| Total equity and liabilities | 10/49 | €73,900 | €410,816 | +€336,916 | +456% |
| Equity | 10/15 | €47,602 | €60,408 | +€12,806 | +26.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,102 | €57,908 | +€12,806 | +28.4% |
| Amounts payable | 17/49 | €26,298 | €350,409 | +€324,111 | +1,232% |
| Amounts payable after more than one year | 17 | - | €306,586 | +€306,586 | |
| Financial debts | 170/4 | - | €306,586 | +€306,586 | |
| Amounts payable within one year | 42/48 | €26,298 | €43,823 | +€17,525 | +66.6% |
| Current portion of amounts payable after more than one year | 42 | - | €11,832 | +€11,832 | |
| Trade debts | 44 | €4,846 | €3,916 | -€930 | -19.2% |
| Suppliers | 440/4 | €4,846 | €3,916 | -€930 | -19.2% |
| Taxes, remuneration and social security | 45 | €21,370 | €27,692 | +€6,323 | +29.6% |
| Taxes | 450/3 | €21,281 | €27,646 | +€6,365 | +29.9% |
| Remuneration and social security | 454/9 | €88 | €46 | -€42 | -48.1% |
| Other amounts payable | 47/48 | €83 | €383 | +€301 | +364% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,852 | €24,979 | +€22,126 | +776% |
| Other operating charges | 640/8 | €708 | €1,413 | +€704 | +99.4% |
| Gross operating margin | 9900 | €65,520 | €57,387 | -€8,133 | -12.4% |
| Operating profit (loss) | 9901 | €61,959 | €30,996 | -€30,963 | -50.0% |
| Financial income | 75/76B | €15 | €0 | -€15 | -100% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -100% |
| Financial charges | 65/66B | €3,719 | €12,594 | +€8,875 | +239% |
| Recurring financial charges | 65 | €3,719 | €12,594 | +€8,875 | +239% |
| Profit (loss) for the period before taxes | 9903 | €58,255 | €18,402 | -€39,853 | -68.4% |
| Income taxes | 67/77 | €13,153 | €5,596 | -€7,557 | -57.5% |
| Profit (loss) for the period | 9904 | €45,102 | €12,806 | -€32,297 | -71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,102 | €12,806 | -€32,297 | -71.6% |
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 31 October 2026 via checked.be.