GEAB BELGIUM: 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.
GEAB BELGIUM
Largest movements
- Tangible fixed assets -€49,534
down €49,534 (-5.5%), from €907,793 to €858,259
of which Land and buildings: -€49,731
- Cash -€25,048
down €25,048 (-74.8%), from €33,491 to €8,444
mainly Other debts (-€37,725) and Debts after one year (-€31,197)
- Other debts -€37,725
down €37,725 (-37.1%), from €101,555 to €63,830
- Debts after one year -€31,197
down €31,197 (-5.5%), from €571,602 to €540,406
of which Financial debts: -€31,197
- Gross operating margin -€55,841
down €55,841 (-41.5%), from €134,458 to €78,617
- Taxes -€7,932
down €7,932 (-100.0%), from €7,932 to €0
- Depreciation +€5,216
up €5,216 (+9.4%), from €55,556 to €60,772
- Other operating charges +€1,568
up €1,568 (+30.2%), from €5,194 to €6,762
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €941,612 | €867,043 | -€74,569 | -7.9% |
| Fixed assets | 21/28 | €907,793 | €858,259 | -€49,534 | -5.5% |
| Tangible fixed assets | 22/27 | €907,793 | €858,259 | -€49,534 | -5.5% |
| Land and buildings | 22 | €905,425 | €855,694 | -€49,731 | -5.5% |
| Furniture and vehicles | 24 | €868 | €1,064 | +€197 | +22.7% |
| Other tangible fixed assets | 26 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €33,819 | €8,784 | -€25,035 | -74.0% |
| Cash at bank and in hand | 54/58 | €33,491 | €8,444 | -€25,048 | -74.8% |
| Deferred charges and accrued income | 490/1 | €327 | €340 | +€13 | +3.9% |
| Total equity and liabilities | 10/49 | €941,612 | €867,043 | -€74,569 | -7.9% |
| Equity | 10/15 | €226,858 | €226,157 | -€701 | -0.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €59,490 | €59,490 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €53,290 | €53,290 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,368 | €104,667 | -€701 | -0.7% |
| Amounts payable | 17/49 | €714,754 | €640,886 | -€73,868 | -10.3% |
| Amounts payable after more than one year | 17 | €571,602 | €540,406 | -€31,197 | -5.5% |
| Financial debts | 170/4 | €517,150 | €485,954 | -€31,197 | -6.0% |
| Other amounts payable | 178/9 | €54,452 | €54,452 | = | 0.0% |
| Amounts payable within one year | 42/48 | €139,250 | €96,487 | -€42,764 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €30,531 | €31,197 | +€665 | +2.2% |
| Trade debts | 44 | €1,835 | €1,460 | -€375 | -20.4% |
| Suppliers | 440/4 | €1,835 | €1,460 | -€375 | -20.4% |
| Taxes, remuneration and social security | 45 | €5,329 | €0 | -€5,329 | -100% |
| Taxes | 450/3 | €5,329 | €0 | -€5,329 | -100% |
| Other amounts payable | 47/48 | €101,555 | €63,830 | -€37,725 | -37.1% |
| Accrued charges and deferred income | 492/3 | €3,902 | €3,993 | +€92 | +2.3% |
| Non-recurring operating income | 76A | €58,986 | €5,958 | -€53,027 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,556 | €60,772 | +€5,216 | +9.4% |
| Other operating charges | 640/8 | €5,194 | €6,762 | +€1,568 | +30.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €134,458 | €78,617 | -€55,841 | -41.5% |
| Operating profit (loss) | 9901 | €73,708 | €11,083 | -€62,624 | -85.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €12,486 | €11,784 | -€701 | -5.6% |
| Recurring financial charges | 65 | €12,486 | €11,784 | -€701 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €61,222 | -€700 | -€61,923 | |
| Income taxes | 67/77 | €7,932 | €0 | -€7,932 | -100.0% |
| Profit (loss) for the period | 9904 | €53,290 | -€701 | -€53,991 | |
| Profit (loss) for the period to be appropriated | 9905 | €53,290 | -€701 | -€53,991 |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.