GEBOCO: 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.
GEBOCO
Largest movements
- Tangible fixed assets +€144,709
up €144,709 (+21.0%), from €689,241 to €833,950
of which Land and buildings: +€138,231
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Cash -€24,054
down €24,054 (-47.8%), from €50,363 to €26,309
mainly Investment in fixed assets (net) (-€178,562) and Debts after one year (-€40,000)
- Other debts +€69,661
up €69,661 (+63.1%), from €110,428 to €180,089
- Debts after one year -€40,000
down €40,000 (-54.5%), from €73,333 to €33,334
- Reserves +€32,076
up €32,076 (+17.4%), from €184,724 to €216,800
of which Distributable reserves: +€32,076
- Depreciation +€8,373
up €8,373 (+32.9%), from €25,479 to €33,852
- Gross operating margin +€4,300
up €4,300 (+4.8%), from €89,045 to €93,346
- Taxes -€2,212
down €2,212 (-15.0%), from €14,754 to €12,542
- Financial income -€1,609
down €1,609 (-70.6%), from €2,281 to €671
- Financial charges +€1,426
up €1,426 (+12.5%), from €11,404 to €12,830
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 | €864,676 | €940,425 | +€75,749 | +8.8% |
| Fixed assets | 21/28 | €689,616 | €834,325 | +€144,709 | +21.0% |
| Tangible fixed assets | 22/27 | €689,241 | €833,950 | +€144,709 | +21.0% |
| Land and buildings | 22 | €681,209 | €819,440 | +€138,231 | +20.3% |
| Plant, machinery and equipment | 23 | €7,762 | €7,751 | -€11 | -0.1% |
| Furniture and vehicles | 24 | €270 | €6,759 | +€6,489 | +2405.8% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €175,060 | €106,100 | -€68,960 | -39.4% |
| Stocks and contracts in progress | 3 | €51,556 | €57,555 | +€5,999 | +11.6% |
| Stocks | 30/36 | €51,556 | €57,555 | +€5,999 | +11.6% |
| Amounts receivable within one year | 40/41 | €17,681 | €16,636 | -€1,045 | -5.9% |
| Trade receivables | 40 | €16,816 | €15,428 | -€1,388 | -8.3% |
| Other amounts receivable | 41 | €865 | €1,209 | +€343 | +39.7% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €50,363 | €26,309 | -€24,054 | -47.8% |
| Deferred charges and accrued income | 490/1 | €5,460 | €5,600 | +€140 | +2.6% |
| Total equity and liabilities | 10/49 | €864,676 | €940,425 | +€75,749 | +8.8% |
| Equity | 10/15 | €617,190 | €649,266 | +€32,076 | +5.2% |
| Contributions | 10/11 | €432,466 | €432,466 | = | 0.0% |
| Reserves | 13 | €184,724 | €216,800 | +€32,076 | +17.4% |
| Non-distributable reserves | 130/1 | €5,839 | €5,839 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,839 | €5,839 | = | 0.0% |
| Distributable reserves | 133 | €178,885 | €210,961 | +€32,076 | +17.9% |
| Amounts payable | 17/49 | €247,486 | €291,159 | +€43,673 | +17.6% |
| Amounts payable after more than one year | 17 | €73,333 | €33,334 | -€40,000 | -54.5% |
| Financial debts | 170/4 | €73,333 | €33,334 | -€40,000 | -54.5% |
| Amounts payable within one year | 42/48 | €169,461 | €251,261 | +€81,800 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €39,999 | €40,000 | +€1 | 0.0% |
| Trade debts | 44 | €11,938 | €15,556 | +€3,618 | +30.3% |
| Suppliers | 440/4 | €11,938 | €15,556 | +€3,618 | +30.3% |
| Taxes, remuneration and social security | 45 | €7,096 | €15,616 | +€8,520 | +120.1% |
| Taxes | 450/3 | €7,096 | €9,571 | +€2,475 | +34.9% |
| Remuneration and social security | 454/9 | - | €6,045 | +€6,045 | |
| Other amounts payable | 47/48 | €110,428 | €180,089 | +€69,661 | +63.1% |
| Accrued charges and deferred income | 492/3 | €4,692 | €6,564 | +€1,873 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,479 | €33,852 | +€8,373 | +32.9% |
| Other operating charges | 640/8 | €3,320 | €2,716 | -€604 | -18.2% |
| Gross operating margin | 9900 | €89,045 | €93,346 | +€4,300 | +4.8% |
| Operating profit (loss) | 9901 | €60,247 | €56,777 | -€3,470 | -5.8% |
| Financial income | 75/76B | €2,281 | €671 | -€1,609 | -70.6% |
| Recurring financial income | 75 | €2,281 | €671 | -€1,609 | -70.6% |
| Financial charges | 65/66B | €11,404 | €12,830 | +€1,426 | +12.5% |
| Recurring financial charges | 65 | €11,404 | €12,830 | +€1,426 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €51,123 | €44,618 | -€6,505 | -12.7% |
| Income taxes | 67/77 | €14,754 | €12,542 | -€2,212 | -15.0% |
| Profit (loss) for the period | 9904 | €36,369 | €32,076 | -€4,293 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,369 | €32,076 | -€4,293 | -11.8% |
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 8 October 2026 via checked.be.