GECABO: what changed
Two financial 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.
GECABO
Largest movements
- Receivables within one year -€173,982
down €173,982 (-93.4%), from €186,315 to €12,333
of which Trade receivables: -€175,330
- Stocks and contracts +€51,134
up €51,134 (+168%), from €30,457 to €81,592
- Cash -€4,901
down €4,901 (-3.4%), from €146,217 to €141,315
mainly Trade debts (-€53,209) and Stocks and contracts (-€51,134)
- Trade debts -€53,209
down €53,209 (-85.8%), from €62,040 to €8,831
- Profit (loss) carried forward -€45,937
new in 2025: -€45,937
- Tax, wage and social debts -€26,498
down €26,498 (-100%), from €26,498 to €0
- Gross operating margin -€51,445
down €51,445, from €9,525 to -€41,920
- Financial charges -€7,001
down €7,001 (-74.6%), from €9,379 to €2,378
- Other operating charges +€610
up €610 (+59.3%), from €1,030 to €1,640
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.
Derived cash bridge
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 | €364,588 | €239,008 | -€125,580 | -34.4% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €364,588 | €239,008 | -€125,580 | -34.4% |
| Stocks and contracts in progress | 3 | €30,457 | €81,592 | +€51,134 | +168% |
| Stocks | 30/36 | €30,457 | €81,592 | +€51,134 | +168% |
| Amounts receivable within one year | 40/41 | €186,315 | €12,333 | -€173,982 | -93.4% |
| Trade receivables | 40 | €176,735 | €1,405 | -€175,330 | -99.2% |
| Other amounts receivable | 41 | €9,580 | €10,928 | +€1,348 | +14.1% |
| Cash at bank and in hand | 54/58 | €146,217 | €141,315 | -€4,901 | -3.4% |
| Deferred charges and accrued income | 490/1 | €1,598 | €3,767 | +€2,169 | +136% |
| Total equity and liabilities | 10/49 | €364,588 | €239,008 | -€125,580 | -34.4% |
| Equity | 10/15 | €55,096 | €9,159 | -€45,937 | -83.4% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €39,096 | €39,096 | = | 0.0% |
| Distributable reserves | 133 | €39,096 | €39,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€45,937 | -€45,937 | |
| Amounts payable | 17/49 | €309,491 | €229,849 | -€79,643 | -25.7% |
| Amounts payable after more than one year | 17 | €220,000 | €220,000 | = | 0.0% |
| Financial debts | 170/4 | €220,000 | €220,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €89,491 | €9,849 | -€79,643 | -89.0% |
| Trade debts | 44 | €62,040 | €8,831 | -€53,209 | -85.8% |
| Suppliers | 440/4 | €62,040 | €8,831 | -€53,209 | -85.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €26,498 | €0 | -€26,498 | -100% |
| Taxes | 450/3 | €26,498 | €0 | -€26,498 | -100% |
| Other amounts payable | 47/48 | €953 | €1,018 | +€65 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,030 | €1,640 | +€610 | +59.3% |
| Gross operating margin | 9900 | €9,525 | -€41,920 | -€51,445 | |
| Operating profit (loss) | 9901 | €8,496 | -€43,559 | -€52,055 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €9,379 | €2,378 | -€7,001 | -74.6% |
| Recurring financial charges | 65 | €9,379 | €2,378 | -€7,001 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | -€882 | -€45,937 | -€45,056 | -5,109% |
| Profit (loss) for the period | 9904 | -€882 | -€45,937 | -€45,056 | -5,109% |
| Profit (loss) for the period to be appropriated | 9905 | -€882 | -€45,937 | -€45,056 | -5,109% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.