GECO: what changed
What changed
GECO
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
filed annual accounts (NBB)
Net result for the year
€508
2024 · -€19,062+€19,570
Equity
€6,227
2024 · €5,719+€508
Cash
€4,611
2024 · €278+€4,333
Balance sheet total
€479,857
2024 · €410,856+€69,002
Largest movements
Assets
- Receivables within one year +€256,085
up €256,085 (+18,510%), from €1,383 to €257,469
of which Trade receivables: +€250,844
- Tangible fixed assets -€124,470
down €124,470 (-38.2%), from €326,069 to €201,599
- Deferred charges and accrued income -€66,946
down €66,946 (-80.5%), from €83,125 to €16,179
Equity and liabilities
- Total equity and liabilities +€69,002
up €69,002 (+16.8%), from €410,856 to €479,857
of which Debts: +€57,808
Income statement
- Gross operating margin +€40,294
up €40,294 (+412%), from €9,784 to €50,078
- Other operating charges +€21,701
up €21,701 (+695%), from €3,122 to €24,824
- Financial charges -€3,663
down €3,663 (-22.3%), from €16,421 to €12,758
- Depreciation +€2,057
up €2,057 (+22.1%), from €9,304 to €11,361
- Taxes +€630
new in 2025: €630
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€19,062
Gross operating margin
+€40,294
Depreciation
-€2,057
Other operating charges
-€21,701
Financial income
+€2
Financial charges
+€3,663
Taxes
-€630
Result 2025
€508
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€108,268
Investment
+€113,109
Financing
-€508
Cash 2024
€278
From operations (derived)
-€108,268
Net result for the year
+€508
Depreciation
+€11,361
Receivables within one year
-€256,085
Deferred charges and accrued income
+€66,946
Total equity and liabilities
+€69,002
Investment (derived)
+€113,109
Investment in fixed assets (net)
+€113,109
Financing
-€508
Contributions, distributions and other
-€508
Cash 2025
€4,611
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €410,856 | €479,857 | +€69,002 | +16.8% |
| Fixed assets | 21/28 | €326,069 | €201,599 | -€124,470 | -38.2% |
| Tangible fixed assets | 22/27 | €326,069 | €201,599 | -€124,470 | -38.2% |
| Land and buildings | 22 | €326,069 | €201,599 | -€124,470 | -38.2% |
| Current assets | 29/58 | €84,786 | €278,258 | +€193,472 | +228% |
| Amounts receivable within one year | 40/41 | €1,383 | €257,469 | +€256,085 | +18,510% |
| Trade receivables | 40 | €1,383 | €252,228 | +€250,844 | +18,132% |
| Other amounts receivable | 41 | - | €5,241 | +€5,241 | |
| Cash at bank and in hand | 54/58 | €278 | €4,611 | +€4,333 | +1,560% |
| Deferred charges and accrued income | 490/1 | €83,125 | €16,179 | -€66,946 | -80.5% |
| Total equity and liabilities | 10/49 | €410,856 | €479,857 | +€69,002 | +16.8% |
| Equity | 10/15 | €5,719 | €6,227 | +€508 | +8.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,967 | €4,227 | +€11,194 | |
| Amounts payable | 17/49 | €415,822 | €473,630 | +€57,808 | +13.9% |
| Amounts payable after more than one year | 17 | €257,605 | €154,999 | -€102,605 | -39.8% |
| Financial debts | 170/4 | €257,605 | €154,999 | -€102,605 | -39.8% |
| Amounts payable within one year | 42/48 | €158,217 | €318,631 | +€160,413 | +101% |
| Current portion of amounts payable after more than one year | 42 | €35,141 | €16,982 | -€18,158 | -51.7% |
| Trade debts | 44 | €66,618 | €220,220 | +€153,602 | +231% |
| Suppliers | 440/4 | €66,618 | €220,220 | +€153,602 | +231% |
| Taxes, remuneration and social security | 45 | €3,378 | €828 | -€2,550 | -75.5% |
| Taxes | 450/3 | €3,378 | €828 | -€2,550 | -75.5% |
| Other amounts payable | 47/48 | €53,080 | €80,600 | +€27,520 | +51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,304 | €11,361 | +€2,057 | +22.1% |
| Other operating charges | 640/8 | €3,122 | €24,824 | +€21,701 | +695% |
| Gross operating margin | 9900 | €9,784 | €50,078 | +€40,294 | +412% |
| Operating profit (loss) | 9901 | -€2,642 | €13,893 | +€16,535 | |
| Financial income | 75/76B | €1 | €3 | +€2 | +148% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +148% |
| Financial charges | 65/66B | €16,421 | €12,758 | -€3,663 | -22.3% |
| Recurring financial charges | 65 | €16,421 | €12,758 | -€3,663 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,062 | €1,138 | +€20,200 | |
| Income taxes | 67/77 | - | €630 | +€630 | |
| Profit (loss) for the period | 9904 | -€19,062 | €508 | +€19,570 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,062 | €508 | +€19,570 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.