GEBEA: 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.
What changed
GEBEA
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€53,436
2024 · -€62,874+€9,439
Equity
€1.6m
2024 · €1.7m-€53,436
Cash
€24,249
2024 · €60,342-€36,093
Balance sheet total
€4.6m
2024 · €4.0m+€665,390
Largest movements
Assets
- Tangible fixed assets +€679,882
up €679,882 (+17.6%), from €3.9m to €4.5m
Equity and liabilities
- Debts after one year +€487,749
up €487,749 (+27.0%), from €1.8m to €2.3m
of which Other amounts payable: +€573,452
- Trade debts +€247,840
up €247,840 (+508.1%), from €48,779 to €296,619
- Reserves -€53,436
down €53,436 (-3.3%), from €1.6m to €1.6m
of which Tax-exempt reserves: -€83,242
Income statement
- Financial charges -€16,722
down €16,722 (-21.7%), from €77,064 to €60,341
- Gross operating margin -€12,112
down €12,112 (-4.5%), from €271,501 to €259,389
- Depreciation -€9,651
down €9,651 (-3.8%), from €250,730 to €241,079
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.
Result 2024
-€62,874
Gross operating margin
-€12,112
Depreciation
+€9,651
Other operating charges
-€1,149
Financial income
+€387
Financial charges
+€16,722
Taxes
-€1,794
Deferred taxes and other
-€2,267
Result 2025
-€53,436
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.
From operations
+€396,945
Investment
-€920,961
Financing
+€487,923
Cash 2024
€60,342
From operations (derived)
+€396,945
Net result for the year
-€53,436
Depreciation
+€241,079
Receivables within one year
-€14,421
Deferred charges and accrued income
-€7,180
Provisions
-€27,747
Trade debts
+€247,840
Tax, wage and social debts
+€10,810
Investment (derived)
-€920,961
Investment in fixed assets (net)
-€920,961
Financing
+€487,923
Debts after one year
+€487,749
Current portion of long-term debt
+€174
Cash 2025
€24,249
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,969,930 | €4,635,319 | +€665,390 | +16.8% |
| Fixed assets | 21/28 | €3,861,483 | €4,541,364 | +€679,882 | +17.6% |
| Tangible fixed assets | 22/27 | €3,855,683 | €4,535,564 | +€679,882 | +17.6% |
| Land and buildings | 22 | €3,855,683 | €4,535,564 | +€679,882 | +17.6% |
| Financial fixed assets | 28 | €5,800 | €5,800 | = | 0.0% |
| Current assets | 29/58 | €108,447 | €93,955 | -€14,492 | -13.4% |
| Amounts receivable within one year | 40/41 | €47,005 | €61,426 | +€14,421 | +30.7% |
| Trade receivables | 40 | €8,957 | €4,084 | -€4,873 | -54.4% |
| Other amounts receivable | 41 | €38,048 | €57,343 | +€19,295 | +50.7% |
| Cash at bank and in hand | 54/58 | €60,342 | €24,249 | -€36,093 | -59.8% |
| Deferred charges and accrued income | 490/1 | €1,100 | €8,280 | +€7,180 | +652.6% |
| Total equity and liabilities | 10/49 | €3,969,930 | €4,635,319 | +€665,390 | +16.8% |
| Equity | 10/15 | €1,696,225 | €1,642,789 | -€53,436 | -3.2% |
| 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 | €1,634,225 | €1,580,789 | -€53,436 | -3.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €995,380 | €912,138 | -€83,242 | -8.4% |
| Distributable reserves | 133 | €632,645 | €662,451 | +€29,806 | +4.7% |
| Provisions and deferred taxes | 16 | €331,793 | €304,046 | -€27,747 | -8.4% |
| Deferred taxes | 168 | €331,793 | €304,046 | -€27,747 | -8.4% |
| Amounts payable | 17/49 | €1,941,911 | €2,688,484 | +€746,573 | +38.4% |
| Amounts payable after more than one year | 17 | €1,807,550 | €2,295,298 | +€487,749 | +27.0% |
| Financial debts | 170/4 | €449,217 | €363,514 | -€85,703 | -19.1% |
| Other amounts payable | 178/9 | €1,358,333 | €1,931,785 | +€573,452 | +42.2% |
| Amounts payable within one year | 42/48 | €134,362 | €393,186 | +€258,824 | +192.6% |
| Current portion of amounts payable after more than one year | 42 | €85,529 | €85,703 | +€174 | +0.2% |
| Trade debts | 44 | €48,779 | €296,619 | +€247,840 | +508.1% |
| Suppliers | 440/4 | €48,779 | €296,619 | +€247,840 | +508.1% |
| Taxes, remuneration and social security | 45 | €54 | €10,864 | +€10,810 | +20194.5% |
| Taxes | 450/3 | €54 | €10,864 | +€10,810 | +20194.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,730 | €241,079 | -€9,651 | -3.8% |
| Other operating charges | 640/8 | €27,732 | €28,881 | +€1,149 | +4.1% |
| Gross operating margin | 9900 | €271,501 | €259,389 | -€12,112 | -4.5% |
| Operating profit (loss) | 9901 | -€6,961 | -€10,571 | -€3,610 | -51.9% |
| Financial income | 75/76B | €192 | €579 | +€387 | +202.0% |
| Recurring financial income | 75 | €192 | €579 | +€387 | +202.0% |
| Financial charges | 65/66B | €77,064 | €60,341 | -€16,722 | -21.7% |
| Recurring financial charges | 65 | €77,064 | €60,341 | -€16,722 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€83,833 | -€70,333 | +€13,500 | +16.1% |
| Transfer from deferred taxes | 780 | €30,014 | €27,747 | -€2,267 | -7.6% |
| Income taxes | 67/77 | €9,056 | €10,850 | +€1,794 | +19.8% |
| Profit (loss) for the period | 9904 | -€62,874 | -€53,436 | +€9,439 | +15.0% |
| Transfer from tax-exempt reserves | 789 | €90,043 | €83,242 | -€6,801 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,169 | €29,806 | +€2,638 | +9.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.