GECA: 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
GECA
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€217,955
2024 · €25,398+€192,557
Equity
€873,809
2024 · €655,854+€217,955
Cash
€286,081
2024 · €215,081+€71,001
Balance sheet total
€3.1m
2024 · €2.1m+€962,778
Largest movements
Assets
- Tangible fixed assets +€923,042
up €923,042 (+326.0%), from €283,106 to €1.2m
of which Leasing and similar rights: +€941,722
- Cash +€71,001
up €71,001 (+33.0%), from €215,081 to €286,081
mainly Debts after one year (+€648,454) and Depreciation (+€276,355)
Equity and liabilities
- Debts after one year +€648,454
up €648,454 (+312.3%), from €207,623 to €856,077
- Reserves +€217,955
up €217,955 (+34.3%), from €635,854 to €853,809
of which Tax-exempt reserves: +€121,170
- Current portion of long-term debt +€183,275
up €183,275 (+163.6%), from €112,050 to €295,325
- Trade debts -€136,837
down €136,837 (-19.9%), from €686,626 to €549,790
Income statement
- Gross operating margin +€376,672
up €376,672 (+16.5%), from €2.3m to €2.7m
- Depreciation +€155,807
up €155,807 (+129.2%), from €120,549 to €276,355
- Other operating charges -€53,442
down €53,442 (-22.5%), from €237,440 to €183,997
- Staff costs +€44,520
up €44,520 (+2.4%), from €1.8m to €1.9m
- Financial charges +€33,770
up €33,770 (+150.4%), from €22,459 to €56,229
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
€25,398
Gross operating margin
+€376,672
Staff costs
-€44,520
Depreciation
-€155,807
Other operating charges
+€53,442
Other operating items
+€29,990
Financial income
+€6,939
Financial charges
-€33,770
Deferred taxes and other
-€40,390
Result 2025
€217,955
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
+€434,010
Investment
-€1.2m
Financing
+€831,025
Cash 2024
€215,081
From operations (derived)
+€434,010
Net result for the year
+€217,955
Depreciation
+€276,355
Stocks and contracts
+€10,662
Receivables within one year
-€4,888
Deferred charges and accrued income
+€20,128
Provisions
+€29,434
Trade debts
-€136,837
Tax, wage and social debts
+€21,160
Accrued charges and deferred income
+€41
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
+€831,025
Debts after one year
+€648,454
Current portion of long-term debt
+€183,275
Short-term financial debts
-€704
Cash 2025
€286,081
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,136,314 | €3,099,092 | +€962,778 | +45.1% |
| Fixed assets | 21/28 | €521,017 | €1,438,696 | +€917,679 | +176.1% |
| Intangible fixed assets | 21 | €19,765 | €14,402 | -€5,363 | -27.1% |
| Tangible fixed assets | 22/27 | €283,106 | €1,206,148 | +€923,042 | +326.0% |
| Plant, machinery and equipment | 23 | €37,389 | €24,606 | -€12,783 | -34.2% |
| Furniture and vehicles | 24 | €245,717 | €239,820 | -€5,897 | -2.4% |
| Leasing and similar rights | 25 | - | €941,722 | +€941,722 | |
| Financial fixed assets | 28 | €218,146 | €218,146 | = | 0.0% |
| Current assets | 29/58 | €1,615,297 | €1,660,395 | +€45,099 | +2.8% |
| Stocks and contracts in progress | 3 | €18,571 | €7,910 | -€10,662 | -57.4% |
| Stocks | 30/36 | €18,571 | €7,910 | -€10,662 | -57.4% |
| Amounts receivable within one year | 40/41 | €1,293,777 | €1,298,665 | +€4,888 | +0.4% |
| Trade receivables | 40 | €1,287,152 | €1,272,014 | -€15,137 | -1.2% |
| Other amounts receivable | 41 | €6,625 | €26,651 | +€20,026 | +302.3% |
| Cash at bank and in hand | 54/58 | €215,081 | €286,081 | +€71,001 | +33.0% |
| Deferred charges and accrued income | 490/1 | €87,868 | €67,740 | -€20,128 | -22.9% |
| Total equity and liabilities | 10/49 | €2,136,314 | €3,099,092 | +€962,778 | +45.1% |
| Equity | 10/15 | €655,854 | €873,809 | +€217,955 | +33.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €635,854 | €853,809 | +€217,955 | +34.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €358,208 | €479,378 | +€121,170 | +33.8% |
| Distributable reserves | 133 | €277,646 | €374,431 | +€96,785 | +34.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €181,980 | €211,414 | +€29,434 | +16.2% |
| Provisions for liabilities and charges | 160/5 | €181,980 | €171,024 | -€10,956 | -6.0% |
| Other liabilities and charges | 164/5 | €181,980 | €171,024 | -€10,956 | -6.0% |
| Deferred taxes | 168 | - | €40,390 | +€40,390 | |
| Amounts payable | 17/49 | €1,298,480 | €2,013,869 | +€715,389 | +55.1% |
| Amounts payable after more than one year | 17 | €207,623 | €856,077 | +€648,454 | +312.3% |
| Financial debts | 170/4 | €207,623 | €856,077 | +€648,454 | +312.3% |
| Amounts payable within one year | 42/48 | €1,078,490 | €1,145,384 | +€66,894 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €112,050 | €295,325 | +€183,275 | +163.6% |
| Financial debts | 43 | €68,806 | €68,101 | -€704 | -1.0% |
| Credit institutions | 430/8 | €68,806 | €68,101 | -€704 | -1.0% |
| Trade debts | 44 | €686,626 | €549,790 | -€136,837 | -19.9% |
| Suppliers | 440/4 | €686,626 | €549,790 | -€136,837 | -19.9% |
| Taxes, remuneration and social security | 45 | €197,650 | €218,809 | +€21,160 | +10.7% |
| Taxes | 450/3 | €12,936 | €16,694 | +€3,758 | +29.1% |
| Remuneration and social security | 454/9 | €184,713 | €202,115 | +€17,401 | +9.4% |
| Other amounts payable | 47/48 | €13,358 | €13,358 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €12,368 | €12,409 | +€41 | +0.3% |
| Non-recurring operating income | 76A | €112,226 | €234,126 | +€121,901 | +108.6% |
| Remuneration, social security and pensions | 62 | €1,837,190 | €1,881,710 | +€44,520 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,549 | €276,355 | +€155,807 | +129.2% |
| Other operating charges | 640/8 | €237,440 | €183,997 | -€53,442 | -22.5% |
| Non-recurring operating charges | 66A | €35,687 | €5,696 | -€29,990 | -84.0% |
| Gross operating margin | 9900 | €2,278,039 | €2,654,711 | +€376,672 | +16.5% |
| Operating profit (loss) | 9901 | €47,174 | €306,952 | +€259,778 | +550.7% |
| Financial income | 75/76B | €683 | €7,622 | +€6,939 | +1016.2% |
| Recurring financial income | 75 | €683 | €7,622 | +€6,939 | +1016.2% |
| Financial charges | 65/66B | €22,459 | €56,229 | +€33,770 | +150.4% |
| Recurring financial charges | 65 | €22,459 | €56,229 | +€33,770 | +150.4% |
| Profit (loss) for the period before taxes | 9903 | €25,398 | €258,345 | +€232,947 | +917.2% |
| Transfer from deferred taxes | 780 | - | €7,516 | +€7,516 | |
| Transfer to deferred taxes | 680 | - | €47,906 | +€47,906 | |
| Profit (loss) for the period | 9904 | €25,398 | €217,955 | +€192,557 | +758.1% |
| Transfer from tax-exempt reserves | 789 | - | €22,547 | +€22,547 | |
| Transfer to tax-exempt reserves | 689 | - | €143,717 | +€143,717 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,398 | €96,785 | +€71,387 | +281.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.