GECO: 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.
GECO
Largest movements
- Cash -€3,209
down €3,209 (-9.0%), from €35,682 to €32,473
mainly Investment in fixed assets (net) (-€10,912) and Receivables within one year (-€2,512)
- Receivables within one year +€2,512
up €2,512 (+38.9%), from €6,450 to €8,963
of which Other amounts receivable: +€3,111
- Tangible fixed assets -€2,162
down €2,162 (-9.9%), from €21,908 to €19,745
of which Furniture and vehicles: -€9,694
- Financial fixed assets +€1,500
up €1,500 (+21.2%), from €7,080 to €8,580
- Stocks and contracts -€1,132
down €1,132 (-34.9%), from €3,242 to €2,110
- Profit (loss) carried forward -€1,312
down €1,312 (-0.4%), from -€319,191 to -€320,503
- Tax, wage and social debts -€1,211
down €1,211 (-80.7%), from €1,500 to €289
- Trade debts -€1,103
down €1,103 (-17.8%), from €6,192 to €5,089
- Accrued charges and deferred income +€790
up €790, from €0 to €790
- Gross operating margin +€6,155
up €6,155 (+100.3%), from €6,135 to €12,290
- Other operating charges -€783
down €783 (-31.5%), from €2,482 to €1,699
- Depreciation +€690
up €690 (+6.3%), from €10,885 to €11,575
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 | €75,296 | €72,460 | -€2,836 | -3.8% |
| Fixed assets | 21/28 | €28,988 | €28,325 | -€662 | -2.3% |
| Tangible fixed assets | 22/27 | €21,908 | €19,745 | -€2,162 | -9.9% |
| Land and buildings | 22 | €7,859 | €10,889 | +€3,030 | +38.6% |
| Plant, machinery and equipment | 23 | - | €4,502 | +€4,502 | |
| Furniture and vehicles | 24 | €14,048 | €4,354 | -€9,694 | -69.0% |
| Financial fixed assets | 28 | €7,080 | €8,580 | +€1,500 | +21.2% |
| Current assets | 29/58 | €46,308 | €44,134 | -€2,174 | -4.7% |
| Stocks and contracts in progress | 3 | €3,242 | €2,110 | -€1,132 | -34.9% |
| Stocks | 30/36 | €3,242 | €2,110 | -€1,132 | -34.9% |
| Amounts receivable within one year | 40/41 | €6,450 | €8,963 | +€2,512 | +38.9% |
| Trade receivables | 40 | €1,555 | €956 | -€599 | -38.5% |
| Other amounts receivable | 41 | €4,896 | €8,007 | +€3,111 | +63.5% |
| Cash at bank and in hand | 54/58 | €35,682 | €32,473 | -€3,209 | -9.0% |
| Deferred charges and accrued income | 490/1 | €934 | €589 | -€345 | -37.0% |
| Total equity and liabilities | 10/49 | €75,296 | €72,460 | -€2,836 | -3.8% |
| Equity | 10/15 | -€255,212 | -€256,524 | -€1,312 | -0.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Legal reserve | 130 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€319,191 | -€320,503 | -€1,312 | -0.4% |
| Amounts payable | 17/49 | €330,508 | €328,984 | -€1,524 | -0.5% |
| Amounts payable after more than one year | 17 | €322,815 | €322,815 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €322,815 | €322,815 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,693 | €5,378 | -€2,314 | -30.1% |
| Trade debts | 44 | €6,192 | €5,089 | -€1,103 | -17.8% |
| Suppliers | 440/4 | €6,192 | €5,089 | -€1,103 | -17.8% |
| Taxes, remuneration and social security | 45 | €1,500 | €289 | -€1,211 | -80.7% |
| Taxes | 450/3 | €1,500 | €289 | -€1,211 | -80.7% |
| Accrued charges and deferred income | 492/3 | €0 | €790 | +€790 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,885 | €11,575 | +€690 | +6.3% |
| Other operating charges | 640/8 | €2,482 | €1,699 | -€783 | -31.5% |
| Gross operating margin | 9900 | €6,135 | €12,290 | +€6,155 | +100.3% |
| Operating profit (loss) | 9901 | -€7,232 | -€985 | +€6,248 | +86.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €120 | €144 | +€24 | +20.0% |
| Recurring financial charges | 65 | €120 | €144 | +€24 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,352 | -€1,129 | +€6,224 | +84.6% |
| Income taxes | 67/77 | €292 | €183 | -€108 | -37.1% |
| Profit (loss) for the period | 9904 | -€7,644 | -€1,312 | +€6,332 | +82.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,644 | -€1,312 | +€6,332 | +82.8% |
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 6 October 2026 via checked.be.