40GESS: 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.
40GESS
Largest movements
- Receivables within one year +€17,818
up €17,818 (+9.6%), from €185,190 to €203,008
of which Other amounts receivable: +€9,736
- Tangible fixed assets -€9,868
down €9,868 (-15.1%), from €65,303 to €55,435
of which Furniture and vehicles: -€7,394
- Other debts +€40,425
new in 2025: €40,425
- Debts after one year -€13,430
no longer reported in 2025 (was €13,430)
- Trade debts -€9,059
down €9,059 (-79.8%), from €11,359 to €2,300
- Tax, wage and social debts -€6,502
down €6,502 (-32.7%), from €19,898 to €13,396
of which Taxes: -€4,406
- Reserves -€5,240
down €5,240 (-2.3%), from €230,793 to €225,552
- Gross operating margin -€24,904
down €24,904 (-27.2%), from €91,651 to €66,747
- Taxes -€8,020
down €8,020 (-31.7%), from €25,316 to €17,297
- Depreciation +€1,155
up €1,155 (+7.1%), from €16,266 to €17,422
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 | €294,080 | €300,911 | +€6,831 | +2.3% |
| Fixed assets | 21/28 | €65,303 | €55,855 | -€9,448 | -14.5% |
| Tangible fixed assets | 22/27 | €65,303 | €55,435 | -€9,868 | -15.1% |
| Land and buildings | 22 | €33,606 | €32,335 | -€1,271 | -3.8% |
| Plant, machinery and equipment | 23 | €2,318 | €1,115 | -€1,203 | -51.9% |
| Furniture and vehicles | 24 | €29,379 | €21,985 | -€7,394 | -25.2% |
| Financial fixed assets | 28 | - | €420 | +€420 | |
| Current assets | 29/58 | €228,777 | €245,056 | +€16,278 | +7.1% |
| Amounts receivable within one year | 40/41 | €185,190 | €203,008 | +€17,818 | +9.6% |
| Trade receivables | 40 | €60,990 | €69,072 | +€8,082 | +13.3% |
| Other amounts receivable | 41 | €124,200 | €133,936 | +€9,736 | +7.8% |
| Cash at bank and in hand | 54/58 | €42,944 | €40,030 | -€2,914 | -6.8% |
| Deferred charges and accrued income | 490/1 | €643 | €2,017 | +€1,374 | +214% |
| Total equity and liabilities | 10/49 | €294,080 | €300,911 | +€6,831 | +2.3% |
| Equity | 10/15 | €249,393 | €244,152 | -€5,240 | -2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €230,793 | €225,552 | -€5,240 | -2.3% |
| Distributable reserves | 133 | €230,793 | €225,552 | -€5,240 | -2.3% |
| Amounts payable | 17/49 | €44,687 | €56,759 | +€12,071 | +27.0% |
| Amounts payable after more than one year | 17 | €13,430 | - | -€13,430 | |
| Financial debts | 170/4 | €13,430 | - | -€13,430 | |
| Amounts payable within one year | 42/48 | €31,258 | €56,121 | +€24,863 | +79.5% |
| Trade debts | 44 | €11,359 | €2,300 | -€9,059 | -79.8% |
| Suppliers | 440/4 | €11,359 | €2,300 | -€9,059 | -79.8% |
| Taxes, remuneration and social security | 45 | €19,898 | €13,396 | -€6,502 | -32.7% |
| Taxes | 450/3 | €17,802 | €13,396 | -€4,406 | -24.8% |
| Remuneration and social security | 454/9 | €2,096 | - | -€2,096 | |
| Other amounts payable | 47/48 | - | €40,425 | +€40,425 | |
| Accrued charges and deferred income | 492/3 | - | €638 | +€638 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,266 | €17,422 | +€1,155 | +7.1% |
| Other operating charges | 640/8 | €1,254 | €1,262 | +€9 | +0.7% |
| Gross operating margin | 9900 | €91,651 | €66,747 | -€24,904 | -27.2% |
| Operating profit (loss) | 9901 | €74,131 | €48,063 | -€26,068 | -35.2% |
| Financial income | 75/76B | €5,265 | €4,748 | -€517 | -9.8% |
| Recurring financial income | 75 | €5,265 | €4,748 | -€517 | -9.8% |
| Financial charges | 65/66B | €366 | €330 | -€37 | -10.0% |
| Recurring financial charges | 65 | €366 | €330 | -€37 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €79,030 | €52,481 | -€26,549 | -33.6% |
| Income taxes | 67/77 | €25,316 | €17,297 | -€8,020 | -31.7% |
| Profit (loss) for the period | 9904 | €53,714 | €35,185 | -€18,529 | -34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,714 | €35,185 | -€18,529 | -34.5% |
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 21 October 2026 via checked.be.