GEAR SYSTEMS: 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.
GEAR SYSTEMS
Largest movements
- Receivables within one year +€10,875
up €10,875 (+27.2%), from €39,985 to €50,860
of which Other amounts receivable: +€7,954
- Cash +€9,591
up €9,591 (+2220.3%), from €432 to €10,023
mainly Trade debts (+€18,367) and Net result for the year (+€8,928)
- Tangible fixed assets +€8,273
up €8,273 (+51.0%), from €16,209 to €24,482
of which Plant, machinery and equipment: +€8,082
- Trade debts +€18,367
up €18,367 (+95.1%), from €19,323 to €37,691
- Reserves +€8,928
up €8,928 (+44.3%), from €20,146 to €29,073
- Short-term financial debts +€8,000
new in 2024: €8,000
- Other debts -€3,394
down €3,394 (-61.0%), from €5,568 to €2,173
- Tax, wage and social debts -€2,740
down €2,740 (-20.8%), from €13,178 to €10,438
of which Remuneration and social security: -€2,545
- Gross operating margin +€4,156
up €4,156 (+24.4%), from €17,043 to €21,199
- Depreciation +€1,470
up €1,470 (+29.8%), from €4,924 to €6,394
- Taxes +€571
up €571 (+14.7%), from €3,887 to €4,459
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 | €58,715 | €87,876 | +€29,161 | +49.7% |
| Fixed assets | 21/28 | €16,209 | €24,582 | +€8,373 | +51.7% |
| Tangible fixed assets | 22/27 | €16,209 | €24,482 | +€8,273 | +51.0% |
| Land and buildings | 22 | - | €3,241 | +€3,241 | |
| Plant, machinery and equipment | 23 | €9,966 | €18,049 | +€8,082 | +81.1% |
| Furniture and vehicles | 24 | €4,640 | €2,255 | -€2,385 | -51.4% |
| Leasing and similar rights | 25 | €1,602 | €937 | -€665 | -41.5% |
| Financial fixed assets | 28 | - | €100 | +€100 | |
| Current assets | 29/58 | €42,506 | €63,294 | +€20,788 | +48.9% |
| Amounts receivable within one year | 40/41 | €39,985 | €50,860 | +€10,875 | +27.2% |
| Trade receivables | 40 | €22,489 | €25,410 | +€2,921 | +13.0% |
| Other amounts receivable | 41 | €17,497 | €25,451 | +€7,954 | +45.5% |
| Cash at bank and in hand | 54/58 | €432 | €10,023 | +€9,591 | +2220.3% |
| Deferred charges and accrued income | 490/1 | €2,089 | €2,411 | +€322 | +15.4% |
| Total equity and liabilities | 10/49 | €58,715 | €87,876 | +€29,161 | +49.7% |
| Equity | 10/15 | €20,646 | €29,573 | +€8,928 | +43.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €20,146 | €29,073 | +€8,928 | +44.3% |
| Distributable reserves | 133 | €20,146 | €29,073 | +€8,928 | +44.3% |
| Amounts payable | 17/49 | €38,069 | €58,302 | +€20,233 | +53.1% |
| Amounts payable within one year | 42/48 | €38,069 | €58,302 | +€20,233 | +53.1% |
| Financial debts | 43 | - | €8,000 | +€8,000 | |
| Credit institutions | 430/8 | - | €8,000 | +€8,000 | |
| Trade debts | 44 | €19,323 | €37,691 | +€18,367 | +95.1% |
| Suppliers | 440/4 | €19,323 | €37,691 | +€18,367 | +95.1% |
| Taxes, remuneration and social security | 45 | €13,178 | €10,438 | -€2,740 | -20.8% |
| Taxes | 450/3 | €10,633 | €10,438 | -€195 | -1.8% |
| Remuneration and social security | 454/9 | €2,545 | - | -€2,545 | |
| Other amounts payable | 47/48 | €5,568 | €2,173 | -€3,394 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,924 | €6,394 | +€1,470 | +29.8% |
| Other operating charges | 640/8 | €946 | €979 | +€32 | +3.4% |
| Gross operating margin | 9900 | €17,043 | €21,199 | +€4,156 | +24.4% |
| Operating profit (loss) | 9901 | €11,172 | €13,827 | +€2,654 | +23.8% |
| Financial income | 75/76B | €54 | €21 | -€33 | -60.8% |
| Recurring financial income | 75 | €54 | €21 | -€33 | -60.8% |
| Financial charges | 65/66B | €384 | €461 | +€77 | +20.0% |
| Recurring financial charges | 65 | €384 | €461 | +€77 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €10,842 | €13,386 | +€2,545 | +23.5% |
| Income taxes | 67/77 | €3,887 | €4,459 | +€571 | +14.7% |
| Profit (loss) for the period | 9904 | €6,954 | €8,928 | +€1,973 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,954 | €8,928 | +€1,973 | +28.4% |
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 5 October 2026 via checked.be.