GEBO: 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.
GEBO
Largest movements
- Cash -€113,032
down €113,032 (-60.5%), from €186,852 to €73,820
mainly Investment in fixed assets (net) (-€93,149) and Net result for the year (-€61,482)
- Tangible fixed assets +€65,414
up €65,414 (+72.0%), from €90,864 to €156,278
of which Furniture and vehicles: +€74,774
- Stocks and contracts +€28,178
up €28,178 (+283.9%), from €9,926 to €38,104
- Receivables within one year -€5,176
down €5,176 (-16.6%), from €31,175 to €25,999
of which Trade receivables: -€4,347
- Profit (loss) carried forward -€61,482
down €61,482 (-603.0%), from -€10,195 to -€71,678
- Trade debts +€28,386
up €28,386 (+620.2%), from €4,577 to €32,963
- Tax, wage and social debts +€4,851
up €4,851 (+67.8%), from €7,158 to €12,009
of which Remuneration and social security: +€4,202
- Gross operating margin -€19,369
down €19,369 (-28.4%), from €68,273 to €48,904
- Depreciation +€16,732
up €16,732 (+152.1%), from €11,003 to €27,735
- Staff costs +€12,405
up €12,405 (+18.3%), from €67,740 to €80,145
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 | €334,936 | €307,161 | -€27,776 | -8.3% |
| Fixed assets | 21/28 | €90,864 | €156,278 | +€65,414 | +72.0% |
| Tangible fixed assets | 22/27 | €90,864 | €156,278 | +€65,414 | +72.0% |
| Land and buildings | 22 | €78,512 | €75,674 | -€2,838 | -3.6% |
| Plant, machinery and equipment | 23 | €12,352 | €5,829 | -€6,523 | -52.8% |
| Furniture and vehicles | 24 | €0 | €74,774 | +€74,774 | |
| Current assets | 29/58 | €244,072 | €150,883 | -€93,189 | -38.2% |
| Stocks and contracts in progress | 3 | €9,926 | €38,104 | +€28,178 | +283.9% |
| Stocks | 30/36 | €9,926 | €38,104 | +€28,178 | +283.9% |
| Amounts receivable within one year | 40/41 | €31,175 | €25,999 | -€5,176 | -16.6% |
| Trade receivables | 40 | €21,086 | €16,739 | -€4,347 | -20.6% |
| Other amounts receivable | 41 | €10,090 | €9,261 | -€829 | -8.2% |
| Cash at bank and in hand | 54/58 | €186,852 | €73,820 | -€113,032 | -60.5% |
| Deferred charges and accrued income | 490/1 | €16,119 | €12,960 | -€3,159 | -19.6% |
| Total equity and liabilities | 10/49 | €334,936 | €307,161 | -€27,776 | -8.3% |
| Equity | 10/15 | €302,999 | €241,517 | -€61,482 | -20.3% |
| Contributions | 10/11 | €195,000 | €195,000 | = | 0.0% |
| Capital | 10 | €195,000 | €195,000 | = | 0.0% |
| Issued capital | 100 | €195,000 | €195,000 | = | 0.0% |
| Reserves | 13 | €118,195 | €118,195 | = | 0.0% |
| Non-distributable reserves | 130/1 | €44,373 | €44,373 | = | 0.0% |
| Legal reserve | 130 | €44,373 | €44,373 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,295 | €19,295 | = | 0.0% |
| Distributable reserves | 133 | €54,527 | €54,527 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,195 | -€71,678 | -€61,482 | -603.0% |
| Provisions and deferred taxes | 16 | €5,335 | €5,335 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,335 | €5,335 | = | 0.0% |
| Major repairs and maintenance | 162 | €5,335 | €5,335 | = | 0.0% |
| Amounts payable | 17/49 | €26,602 | €60,309 | +€33,707 | +126.7% |
| Amounts payable within one year | 42/48 | €26,602 | €60,309 | +€33,707 | +126.7% |
| Trade debts | 44 | €4,577 | €32,963 | +€28,386 | +620.2% |
| Suppliers | 440/4 | €4,577 | €32,963 | +€28,386 | +620.2% |
| Taxes, remuneration and social security | 45 | €7,158 | €12,009 | +€4,851 | +67.8% |
| Taxes | 450/3 | €0 | €648 | +€648 | |
| Remuneration and social security | 454/9 | €7,158 | €11,361 | +€4,202 | +58.7% |
| Other amounts payable | 47/48 | €14,866 | €15,336 | +€470 | +3.2% |
| Non-recurring operating income | 76A | - | €31,000 | +€31,000 | |
| Remuneration, social security and pensions | 62 | €67,740 | €80,145 | +€12,405 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,003 | €27,735 | +€16,732 | +152.1% |
| Other operating charges | 640/8 | €1,839 | €1,889 | +€50 | +2.7% |
| Gross operating margin | 9900 | €68,273 | €48,904 | -€19,369 | -28.4% |
| Operating profit (loss) | 9901 | -€12,309 | -€60,865 | -€48,556 | -394.5% |
| Financial charges | 65/66B | €39 | €262 | +€223 | +571.8% |
| Recurring financial charges | 65 | €39 | €262 | +€223 | +571.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,348 | -€61,127 | -€48,779 | -395.0% |
| Income taxes | 67/77 | €176 | €355 | +€179 | +101.6% |
| Profit (loss) for the period | 9904 | -€12,524 | -€61,482 | -€48,958 | -390.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,524 | -€61,482 | -€48,958 | -390.9% |
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 4 October 2026 via checked.be.