GEBA: 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.
GEBA
Largest movements
- Financial fixed assets +€123,593
up €123,593 (+12.3%), from €1.0m to €1.1m
- Cash -€14,156
down €14,156 (-7.2%), from €195,766 to €181,611
mainly Investment in fixed assets (net) (-€123,593) and Contributions, distributions and other (-€100,385)
- Reserves +€195,331
up €195,331 (+23.5%), from €831,647 to €1.0m
of which Distributable reserves: +€195,331
- Other debts -€76,444
down €76,444 (-93.9%), from €81,370 to €4,927
- Debts after one year -€15,868
down €15,868 (-6.3%), from €250,332 to €234,464
- Financial income +€80,092
up €80,092 (+26.4%), from €303,511 to €383,603
- Gross operating margin -€72,337
down €72,337 (-82.9%), from €87,257 to €14,920
- Financial charges +€40,132
up €40,132 (+180.1%), from €22,279 to €62,411
- Taxes -€11,923
down €11,923 (-28.3%), from €42,091 to €30,168
- Staff costs -€1,180
no longer reported in 2025 (was €1,180)
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 | €1,230,647 | €1,330,888 | +€100,242 | +8.1% |
| Fixed assets | 21/28 | €1,034,880 | €1,149,278 | +€114,397 | +11.1% |
| Tangible fixed assets | 22/27 | €27,565 | €18,369 | -€9,196 | -33.4% |
| Land and buildings | 22 | €27,565 | €18,369 | -€9,196 | -33.4% |
| Financial fixed assets | 28 | €1,007,315 | €1,130,908 | +€123,593 | +12.3% |
| Current assets | 29/58 | €195,766 | €181,611 | -€14,156 | -7.2% |
| Cash at bank and in hand | 54/58 | €195,766 | €181,611 | -€14,156 | -7.2% |
| Total equity and liabilities | 10/49 | €1,230,647 | €1,330,888 | +€100,242 | +8.1% |
| Equity | 10/15 | €850,239 | €1,045,570 | +€195,331 | +23.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €831,647 | €1,026,978 | +€195,331 | +23.5% |
| Non-distributable reserves | 130/1 | €25,200 | €25,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,200 | €25,200 | = | 0.0% |
| Distributable reserves | 133 | €806,447 | €1,001,778 | +€195,331 | +24.2% |
| Amounts payable | 17/49 | €380,407 | €285,318 | -€95,090 | -25.0% |
| Amounts payable after more than one year | 17 | €250,332 | €234,464 | -€15,868 | -6.3% |
| Financial debts | 170/4 | €250,332 | €234,464 | -€15,868 | -6.3% |
| Amounts payable within one year | 42/48 | €120,140 | €50,854 | -€69,286 | -57.7% |
| Trade debts | 44 | €15,190 | €18,276 | +€3,086 | +20.3% |
| Suppliers | 440/4 | €1,186 | €599 | -€587 | -49.5% |
| Bills of exchange payable | 441 | €14,004 | €17,677 | +€3,673 | +26.2% |
| Taxes, remuneration and social security | 45 | €23,580 | €27,652 | +€4,072 | +17.3% |
| Taxes | 450/3 | €23,580 | €27,652 | +€4,072 | +17.3% |
| Other amounts payable | 47/48 | €81,370 | €4,927 | -€76,444 | -93.9% |
| Accrued charges and deferred income | 492/3 | €9,936 | - | -€9,936 | |
| Remuneration, social security and pensions | 62 | €1,180 | - | -€1,180 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,196 | €9,196 | = | 0.0% |
| Other operating charges | 640/8 | €1,003 | €1,032 | +€29 | +2.9% |
| Gross operating margin | 9900 | €87,257 | €14,920 | -€72,337 | -82.9% |
| Operating profit (loss) | 9901 | €75,879 | €4,692 | -€71,186 | -93.8% |
| Financial income | 75/76B | €303,511 | €383,603 | +€80,092 | +26.4% |
| Recurring financial income | 75 | €303,511 | €383,603 | +€80,092 | +26.4% |
| Financial charges | 65/66B | €22,279 | €62,411 | +€40,132 | +180.1% |
| Recurring financial charges | 65 | €22,279 | €62,411 | +€40,132 | +180.1% |
| Profit (loss) for the period before taxes | 9903 | €357,111 | €325,885 | -€31,226 | -8.7% |
| Income taxes | 67/77 | €42,091 | €30,168 | -€11,923 | -28.3% |
| Profit (loss) for the period | 9904 | €315,019 | €295,716 | -€19,303 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €315,019 | €295,716 | -€19,303 | -6.1% |
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 11 October 2026 via checked.be.