GECET: 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.
GECET
Largest movements
- Tangible fixed assets -€7,788
down €7,788 (-4.8%), from €163,172 to €155,383
- Deferred charges and accrued income -€3,123
down €3,123 (-37.7%), from €8,288 to €5,165
- Stocks and contracts -€3,052
down €3,052 (-8.6%), from €35,353 to €32,301
- Profit (loss) carried forward -€34,022
down €34,022 (-27.6%), from -€123,260 to -€157,281
- Other debts +€29,314
up €29,314 (+39.1%), from €74,924 to €104,238
- Debts after one year -€18,289
down €18,289 (-38.3%), from €47,755 to €29,465
- Trade debts +€6,816
up €6,816 (+46.9%), from €14,519 to €21,336
- Gross operating margin -€15,122
down €15,122, from €2,945 to -€12,178
- Taxes +€3,518
up €3,518 (+2293.2%), from €153 to €3,672
- Financial charges +€3,471
up €3,471 (+66.0%), from €5,257 to €8,728
- Depreciation -€1,040
down €1,040 (-11.8%), from €8,828 to €7,788
- Other operating charges +€713
up €713 (+75.6%), from €943 to €1,656
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 | €235,161 | €220,689 | -€14,472 | -6.2% |
| Fixed assets | 21/28 | €163,172 | €155,383 | -€7,788 | -4.8% |
| Tangible fixed assets | 22/27 | €163,172 | €155,383 | -€7,788 | -4.8% |
| Land and buildings | 22 | €163,172 | €155,383 | -€7,788 | -4.8% |
| Current assets | 29/58 | €71,989 | €65,306 | -€6,683 | -9.3% |
| Stocks and contracts in progress | 3 | €35,353 | €32,301 | -€3,052 | -8.6% |
| Stocks | 30/36 | €35,353 | €32,301 | -€3,052 | -8.6% |
| Amounts receivable within one year | 40/41 | €22,005 | €22,043 | +€38 | +0.2% |
| Trade receivables | 40 | €22,005 | €22,043 | +€38 | +0.2% |
| Current investments | 50/53 | €5,402 | €5,402 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €942 | €395 | -€547 | -58.0% |
| Deferred charges and accrued income | 490/1 | €8,288 | €5,165 | -€3,123 | -37.7% |
| Total equity and liabilities | 10/49 | €235,161 | €220,689 | -€14,472 | -6.2% |
| Equity | 10/15 | €76,720 | €42,698 | -€34,022 | -44.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €181,380 | €181,380 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,101 | €7,101 | = | 0.0% |
| Distributable reserves | 133 | €174,279 | €174,279 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€123,260 | -€157,281 | -€34,022 | -27.6% |
| Amounts payable | 17/49 | €158,441 | €177,991 | +€19,550 | +12.3% |
| Amounts payable after more than one year | 17 | €47,755 | €29,465 | -€18,289 | -38.3% |
| Financial debts | 170/4 | €47,755 | €29,465 | -€18,289 | -38.3% |
| Amounts payable within one year | 42/48 | €109,352 | €147,191 | +€37,839 | +34.6% |
| Current portion of amounts payable after more than one year | 42 | €18,045 | €18,289 | +€244 | +1.4% |
| Financial debts | 43 | €302 | €548 | +€246 | +81.5% |
| Credit institutions | 430/8 | €302 | €548 | +€246 | +81.5% |
| Trade debts | 44 | €14,519 | €21,336 | +€6,816 | +46.9% |
| Suppliers | 440/4 | €14,519 | €21,336 | +€6,816 | +46.9% |
| Taxes, remuneration and social security | 45 | €1,561 | €2,779 | +€1,218 | +78.1% |
| Taxes | 450/3 | €1,561 | €2,779 | +€1,218 | +78.1% |
| Other amounts payable | 47/48 | €74,924 | €104,238 | +€29,314 | +39.1% |
| Accrued charges and deferred income | 492/3 | €1,335 | €1,335 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,828 | €7,788 | -€1,040 | -11.8% |
| Other operating charges | 640/8 | €943 | €1,656 | +€713 | +75.6% |
| Gross operating margin | 9900 | €2,945 | -€12,178 | -€15,122 | |
| Operating profit (loss) | 9901 | -€6,826 | -€21,622 | -€14,795 | -216.7% |
| Financial income | 75/76B | €421 | - | -€421 | |
| Recurring financial income | 75 | €421 | - | -€421 | |
| Financial charges | 65/66B | €5,257 | €8,728 | +€3,471 | +66.0% |
| Recurring financial charges | 65 | €5,257 | €8,728 | +€3,471 | +66.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,662 | -€30,350 | -€18,687 | -160.2% |
| Income taxes | 67/77 | €153 | €3,672 | +€3,518 | +2293.2% |
| Profit (loss) for the period | 9904 | -€11,816 | -€34,022 | -€22,206 | -187.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,816 | -€34,022 | -€22,206 | -187.9% |
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 4 October 2026 via checked.be.