Gebutec: 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.
Gebutec
Largest movements
- Cash -€5,552
down €5,552 (-40.6%), from €13,683 to €8,130
mainly Net result for the year (-€3,565) and Receivables within one year (-€1,446)
- Receivables within one year +€1,446
up €1,446 (+51.2%), from €2,823 to €4,269
of which Trade receivables: +€1,171
- Stocks and contracts +€642
new in 2025: €642
- Formation expenses -€547
down €547 (-31.2%), from €1,755 to €1,208
- Tangible fixed assets -€291
down €291 (-23.3%), from €1,251 to €960
- Reserves -€4,398
down €4,398 (-39.7%), from €11,091 to €6,693
- Other debts +€583
up €583 (+29.5%), from €1,975 to €2,558
- Tax, wage and social debts -€487
down €487 (-14.1%), from €3,445 to €2,958
- Gross operating margin -€18,605
down €18,605, from €16,172 to -€2,432
- Taxes -€2,958
down €2,958 (-100.0%), from €2,958 to €0
- Depreciation -€347
down €347 (-29.3%), from €1,186 to €838
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 | €19,511 | €15,209 | -€4,302 | -22.0% |
| Formation expenses | 20 | €1,755 | €1,208 | -€547 | -31.2% |
| Fixed assets | 21/28 | €1,251 | €960 | -€291 | -23.3% |
| Tangible fixed assets | 22/27 | €1,251 | €960 | -€291 | -23.3% |
| Plant, machinery and equipment | 23 | €1,251 | €960 | -€291 | -23.3% |
| Current assets | 29/58 | €16,505 | €13,042 | -€3,464 | -21.0% |
| Stocks and contracts in progress | 3 | - | €642 | +€642 | |
| Stocks | 30/36 | - | €642 | +€642 | |
| Amounts receivable within one year | 40/41 | €2,823 | €4,269 | +€1,446 | +51.2% |
| Trade receivables | 40 | €2,823 | €3,994 | +€1,171 | +41.5% |
| Other amounts receivable | 41 | - | €275 | +€275 | |
| Cash at bank and in hand | 54/58 | €13,683 | €8,130 | -€5,552 | -40.6% |
| Total equity and liabilities | 10/49 | €19,511 | €15,209 | -€4,302 | -22.0% |
| Equity | 10/15 | €14,091 | €9,693 | -€4,398 | -31.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,091 | €6,693 | -€4,398 | -39.7% |
| Distributable reserves | 133 | €11,091 | €6,693 | -€4,398 | -39.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,420 | €5,516 | +€96 | +1.8% |
| Amounts payable within one year | 42/48 | €5,420 | €5,516 | +€96 | +1.8% |
| Taxes, remuneration and social security | 45 | €3,445 | €2,958 | -€487 | -14.1% |
| Taxes | 450/3 | €3,445 | €2,958 | -€487 | -14.1% |
| Other amounts payable | 47/48 | €1,975 | €2,558 | +€583 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,186 | €838 | -€347 | -29.3% |
| Other operating charges | 640/8 | - | €144 | +€144 | |
| Gross operating margin | 9900 | €16,172 | -€2,432 | -€18,605 | |
| Operating profit (loss) | 9901 | €14,987 | -€3,415 | -€18,402 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €105 | €150 | +€45 | +42.9% |
| Recurring financial charges | 65 | €105 | €150 | +€45 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €14,882 | -€3,565 | -€18,447 | |
| Income taxes | 67/77 | €2,958 | €0 | -€2,958 | -100.0% |
| Profit (loss) for the period | 9904 | €11,924 | -€3,565 | -€15,489 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,924 | -€3,565 | -€15,489 |
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.