GECAR: 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.
GECAR
Largest movements
- Total assets -€331,523
down €331,523 (-50.7%), from €654,284 to €322,761
of which Fixed assets: -€549,659
- Total equity and liabilities -€331,523
down €331,523 (-50.7%), from €654,284 to €322,761
of which Debts: -€207,056
- Depreciation -€20,063
no longer reported in 2021 (was €20,063)
- Gross operating margin +€5,754
up €5,754 (+88.8%), from -€6,480 to -€726
- Financial income +€2,635
new in 2021: €2,635
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €654,284 | €322,761 | -€331,523 | -50.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €549,659 | - | -€549,659 | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €549,659 | - | -€549,659 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €528,022 | €322,761 | -€205,261 | -38.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €510,011 | €76,492 | -€433,520 | -85.0% |
| Other amounts receivable | 41 | - | €76,492 | +€76,492 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €18,914 | €246,269 | +€227,355 | +1202.0% |
| Total equity and liabilities | 10/49 | €654,284 | €322,761 | -€331,523 | -50.7% |
| Equity | 10/15 | -€104,051 | -€102,256 | +€1,795 | +1.7% |
| Contributions | 10/11 | - | €200,000 | +€200,000 | |
| Profit (loss) carried forward | 14 | -€304,051 | -€302,256 | +€1,795 | +0.6% |
| Amounts payable | 17/49 | €632,073 | €425,017 | -€207,056 | -32.8% |
| Amounts payable within one year | 42/48 | €631,532 | €424,955 | -€206,576 | -32.7% |
| Trade debts | 44 | €1,798 | €244 | -€1,555 | -86.5% |
| Suppliers | 440/4 | - | €244 | +€244 | |
| Other amounts payable | 47/48 | - | €424,712 | +€424,712 | |
| Accrued charges and deferred income | 492/3 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,063 | - | -€20,063 | |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | -€6,480 | -€726 | +€5,754 | +88.8% |
| Operating profit (loss) | 9901 | -€127,857 | -€788 | +€127,069 | +99.4% |
| Financial income | 75/76B | - | €2,635 | +€2,635 | |
| Recurring financial income | 75 | €2,952 | €2,635 | -€317 | -10.8% |
| Financial charges | 65/66B | - | €52 | +€52 | |
| Recurring financial charges | 65 | €4,099 | €52 | -€4,047 | -98.7% |
| Profit (loss) for the period before taxes | 9903 | -€129,159 | €1,795 | +€130,954 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€129,159 | €1,795 | +€130,954 | |
| Profit (loss) for the period to be appropriated | 9905 | -€129,159 | €1,795 | +€130,954 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.