Gecima: 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.
Gecima
Largest movements
- Cash -€267,168
down €267,168 (-57.6%), from €463,941 to €196,773
mainly Investment in fixed assets (net) (-€430,189) and Receivables within one year (-€176,305)
- Receivables within one year +€176,305
up €176,305 (+52.7%), from €334,535 to €510,840
of which Trade receivables: +€175,646
- Tangible fixed assets +€22,744
up €22,744 (+2.6%), from €885,521 to €908,265
of which Furniture and vehicles: +€70,049
- Profit (loss) carried forward -€73,373
down €73,373 (-5.2%), from €1.4m to €1.3m
- Trade debts +€41,463
up €41,463 (+84.0%), from €49,352 to €90,815
- Gross operating margin -€165,122
down €165,122 (-18.0%), from €916,655 to €751,534
- Staff costs +€57,998
up €57,998 (+15.8%), from €366,430 to €424,428
- Taxes -€40,063
no longer reported in 2025 (was €40,063)
- Write-downs -€26,247
down €26,247, from €24,957 to -€1,290
- Depreciation +€15,532
up €15,532 (+4.1%), from €379,979 to €395,511
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 | €1,868,728 | €1,814,113 | -€54,615 | -2.9% |
| Fixed assets | 21/28 | €913,541 | €948,219 | +€34,678 | +3.8% |
| Intangible fixed assets | 21 | - | €16,454 | +€16,454 | |
| Tangible fixed assets | 22/27 | €885,521 | €908,265 | +€22,744 | +2.6% |
| Plant, machinery and equipment | 23 | €14,810 | €25,929 | +€11,118 | +75.1% |
| Furniture and vehicles | 24 | €75,121 | €145,170 | +€70,049 | +93.2% |
| Other tangible fixed assets | 26 | €795,589 | €737,166 | -€58,424 | -7.3% |
| Financial fixed assets | 28 | €28,020 | €23,500 | -€4,520 | -16.1% |
| Current assets | 29/58 | €955,187 | €865,894 | -€89,293 | -9.3% |
| Stocks and contracts in progress | 3 | €150,763 | €152,838 | +€2,076 | +1.4% |
| Stocks | 30/36 | €150,763 | €152,838 | +€2,076 | +1.4% |
| Amounts receivable within one year | 40/41 | €334,535 | €510,840 | +€176,305 | +52.7% |
| Trade receivables | 40 | €326,367 | €502,013 | +€175,646 | +53.8% |
| Other amounts receivable | 41 | €8,168 | €8,827 | +€659 | +8.1% |
| Cash at bank and in hand | 54/58 | €463,941 | €196,773 | -€267,168 | -57.6% |
| Deferred charges and accrued income | 490/1 | €5,948 | €5,443 | -€505 | -8.5% |
| Total equity and liabilities | 10/49 | €1,868,728 | €1,814,113 | -€54,615 | -2.9% |
| Equity | 10/15 | €1,707,501 | €1,634,129 | -€73,373 | -4.3% |
| Contributions | 10/11 | €133,707 | €133,707 | = | 0.0% |
| Capital | 10 | €123,511 | €123,511 | = | 0.0% |
| Issued capital | 100 | €123,511 | €123,511 | = | 0.0% |
| Outside capital | 11 | €10,196 | €10,196 | = | 0.0% |
| Share premium | 1100/10 | €10,196 | €10,196 | = | 0.0% |
| Reserves | 13 | €158,486 | €158,486 | = | 0.0% |
| Non-distributable reserves | 130/1 | €68,356 | €68,356 | = | 0.0% |
| Legal reserve | 130 | €12,351 | €12,351 | = | 0.0% |
| Reserves not available under the articles | 1311 | €56,005 | €56,005 | = | 0.0% |
| Distributable reserves | 133 | €90,130 | €90,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,415,308 | €1,341,935 | -€73,373 | -5.2% |
| Amounts payable | 17/49 | €161,226 | €179,984 | +€18,758 | +11.6% |
| Amounts payable within one year | 42/48 | €161,226 | €179,984 | +€18,758 | +11.6% |
| Trade debts | 44 | €49,352 | €90,815 | +€41,463 | +84.0% |
| Suppliers | 440/4 | €49,352 | €90,815 | +€41,463 | +84.0% |
| Advances received on contracts in progress | 46 | €34,540 | €43,762 | +€9,222 | +26.7% |
| Taxes, remuneration and social security | 45 | €62,337 | €45,407 | -€16,930 | -27.2% |
| Taxes | 450/3 | €38,605 | €12,730 | -€25,875 | -67.0% |
| Remuneration and social security | 454/9 | €23,732 | €32,677 | +€8,945 | +37.7% |
| Other amounts payable | 47/48 | €14,997 | - | -€14,997 | |
| Non-recurring operating income | 76A | €60 | €364 | +€303 | +502.8% |
| Remuneration, social security and pensions | 62 | €366,430 | €424,428 | +€57,998 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €379,979 | €395,511 | +€15,532 | +4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,957 | -€1,290 | -€26,247 | |
| Other operating charges | 640/8 | €4,964 | €5,717 | +€753 | +15.2% |
| Non-recurring operating charges | 66A | €2,511 | €3,359 | +€849 | +33.8% |
| Gross operating margin | 9900 | €916,655 | €751,534 | -€165,122 | -18.0% |
| Operating profit (loss) | 9901 | €137,815 | -€76,191 | -€214,006 | |
| Financial income | 75/76B | €1,056 | €3,214 | +€2,158 | +204.3% |
| Recurring financial income | 75 | €1,056 | €3,214 | +€2,158 | +204.3% |
| Financial charges | 65/66B | €224 | €396 | +€171 | +76.4% |
| Recurring financial charges | 65 | €224 | €396 | +€171 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €138,647 | -€73,373 | -€212,019 | |
| Income taxes | 67/77 | €40,063 | - | -€40,063 | |
| Profit (loss) for the period | 9904 | €98,584 | -€73,373 | -€171,957 | |
| Profit (loss) for the period to be appropriated | 9905 | €98,584 | -€73,373 | -€171,957 |
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 3 October 2026 via checked.be.