G.E.C.S.: 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.
G.E.C.S.
Largest movements
- Receivables after one year +€9,000
up €9,000 (+94.7%), from €9,500 to €18,500
- Receivables within one year -€8,275
down €8,275 (-10.6%), from €77,717 to €69,442
of which Other amounts receivable: -€6,166
- Tangible fixed assets -€5,117
down €5,117 (-22.7%), from €22,561 to €17,444
of which Furniture and vehicles: -€3,946
- Cash +€4,198
up €4,198 (+45.5%), from €9,219 to €13,417
mainly Receivables within one year (+€8,275) and Net result for the year (+€8,248)
- Deferred charges and accrued income +€1,510
new in 2025: €1,510
- Profit (loss) carried forward +€8,248
up €8,248 (+11.0%), from €75,108 to €83,356
- Trade debts -€5,259
down €5,259 (-40.5%), from €12,975 to €7,716
of which Suppliers: -€3,554
- Tax, wage and social debts -€1,655
down €1,655 (-52.8%), from €3,132 to €1,477
- Turnover -€18,556
down €18,556 (-7.2%), from €257,271 to €238,715
- Staff costs -€14,136
down €14,136 (-80.2%), from €17,627 to €3,491
- Gross operating margin -€12,520
down €12,520 (-39.5%), from €31,701 to €19,181
- Purchases and services -€6,035
down €6,035 (-2.7%), from €225,569 to €219,534
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.
Cash bridge derived
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 | €119,072 | €120,389 | +€1,316 | +1.1% |
| Fixed assets | 21/28 | €22,636 | €17,519 | -€5,117 | -22.6% |
| Tangible fixed assets | 22/27 | €22,561 | €17,444 | -€5,117 | -22.7% |
| Land and buildings | 22 | €12,602 | €12,203 | -€400 | -3.2% |
| Plant, machinery and equipment | 23 | €1,543 | €771 | -€771 | -50.0% |
| Furniture and vehicles | 24 | €8,416 | €4,469 | -€3,946 | -46.9% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €96,436 | €102,870 | +€6,434 | +6.7% |
| Amounts receivable after more than one year | 29 | €9,500 | €18,500 | +€9,000 | +94.7% |
| Other amounts receivable | 291 | €9,500 | €18,500 | +€9,000 | +94.7% |
| Amounts receivable within one year | 40/41 | €77,717 | €69,442 | -€8,275 | -10.6% |
| Trade receivables | 40 | €37,975 | €35,866 | -€2,109 | -5.6% |
| Other amounts receivable | 41 | €39,742 | €33,577 | -€6,166 | -15.5% |
| Cash at bank and in hand | 54/58 | €9,219 | €13,417 | +€4,198 | +45.5% |
| Deferred charges and accrued income | 490/1 | - | €1,510 | +€1,510 | |
| Total equity and liabilities | 10/49 | €119,072 | €120,389 | +€1,316 | +1.1% |
| Equity | 10/15 | €101,168 | €109,416 | +€8,248 | +8.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €18,000 | €18,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,108 | €83,356 | +€8,248 | +11.0% |
| Amounts payable | 17/49 | €17,904 | €10,973 | -€6,931 | -38.7% |
| Amounts payable within one year | 42/48 | €17,904 | €10,973 | -€6,931 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €1,797 | €1,780 | -€18 | -1.0% |
| Trade debts | 44 | €12,975 | €7,716 | -€5,259 | -40.5% |
| Suppliers | 440/4 | €6,301 | €2,747 | -€3,554 | -56.4% |
| Bills of exchange payable | 441 | €6,674 | €4,969 | -€1,705 | -25.5% |
| Taxes, remuneration and social security | 45 | €3,132 | €1,477 | -€1,655 | -52.8% |
| Remuneration and social security | 454/9 | €3,132 | €1,477 | -€1,655 | -52.8% |
| Turnover | 70 | €257,271 | €238,715 | -€18,556 | -7.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €225,569 | €219,534 | -€6,035 | -2.7% |
| Remuneration, social security and pensions | 62 | €17,627 | €3,491 | -€14,136 | -80.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,788 | €6,314 | +€526 | +9.1% |
| Other operating charges | 640/8 | €811 | €714 | -€97 | -12.0% |
| Gross operating margin | 9900 | €31,701 | €19,181 | -€12,520 | -39.5% |
| Operating profit (loss) | 9901 | €7,476 | €8,663 | +€1,187 | +15.9% |
| Financial income | 75/76B | €1,728 | €2,086 | +€358 | +20.7% |
| Recurring financial income | 75 | €1,728 | €2,086 | +€358 | +20.7% |
| Financial charges | 65/66B | €327 | €205 | -€122 | -37.3% |
| Recurring financial charges | 65 | €327 | €205 | -€122 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €8,877 | €10,543 | +€1,667 | +18.8% |
| Income taxes | 67/77 | €1,979 | €2,296 | +€317 | +16.0% |
| Profit (loss) for the period | 9904 | €6,898 | €8,248 | +€1,350 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,898 | €8,248 | +€1,350 | +19.6% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.