GECO Management: what changed
Two financial 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.
What changed
GECO Management
NACE 69.102, Activities of notaries
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€88,578
2024 · €83,599+€4,979
Equity
€2,500
2024 · €181,503-€179,003
Cash
€264,746
2024 · €265,010-€264
Balance sheet total
€948,930
2024 · €986,937-€38,007
Largest movements
Assets
- Intangible fixed assets -€53,444
down €53,444 (-13.8%), from €387,469 to €334,025
- Current investments +€21,000
new in 2025: €21,000
- Tangible fixed assets -€13,135
down €13,135 (-4.9%), from €266,023 to €252,888
of which Land and buildings: -€11,538
Equity and liabilities
- Other debts +€208,811
up €208,811 (+976%), from €21,384 to €230,195
- Reserves -€179,003
no longer reported in 2025 (was €179,003)
- Debts after one year -€72,698
down €72,698 (-12.9%), from €564,353 to €491,655
Income statement
- Staff costs -€20,469
down €20,469 (-12.2%), from €168,009 to €147,540
- Gross operating margin -€14,139
down €14,139 (-3.9%), from €360,437 to €346,298
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.
Result 2024
€83,599
Gross operating margin
-€14,139
Staff costs
+€20,469
Depreciation
+€981
Other operating charges
-€523
Financial income
-€267
Financial charges
+€1,190
Taxes
-€2,733
Result 2025
€88,578
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€361,015
Investment
-€21,000
Financing
-€340,279
Cash 2024
€265,010
From operations (derived)
+€361,015
Net result for the year
+€88,578
Depreciation
+€66,579
Receivables within one year
-€7,619
Deferred charges and accrued income
-€217
Trade debts
+€1,861
Tax, wage and social debts
+€2,341
Other debts
+€208,811
Accrued charges and deferred income
+€682
Investment (derived)
-€21,000
Current investments
-€21,000
Financing
-€340,279
Debts after one year
-€72,698
Contributions, distributions and other
-€267,581
Cash 2025
€264,746
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €986,937 | €948,930 | -€38,007 | -3.9% |
| Fixed assets | 21/28 | €653,492 | €586,912 | -€66,579 | -10.2% |
| Intangible fixed assets | 21 | €387,469 | €334,025 | -€53,444 | -13.8% |
| Tangible fixed assets | 22/27 | €266,023 | €252,888 | -€13,135 | -4.9% |
| Land and buildings | 22 | €258,714 | €247,176 | -€11,538 | -4.5% |
| Furniture and vehicles | 24 | €7,309 | €5,712 | -€1,597 | -21.8% |
| Current assets | 29/58 | €333,445 | €362,018 | +€28,573 | +8.6% |
| Amounts receivable within one year | 40/41 | €66,606 | €74,225 | +€7,619 | +11.4% |
| Trade receivables | 40 | €15,358 | €17,417 | +€2,059 | +13.4% |
| Other amounts receivable | 41 | €51,248 | €56,808 | +€5,560 | +10.8% |
| Current investments | 50/53 | - | €21,000 | +€21,000 | |
| Cash at bank and in hand | 54/58 | €265,010 | €264,746 | -€264 | -0.1% |
| Deferred charges and accrued income | 490/1 | €1,829 | €2,047 | +€217 | +11.9% |
| Total equity and liabilities | 10/49 | €986,937 | €948,930 | -€38,007 | -3.9% |
| Equity | 10/15 | €181,503 | €2,500 | -€179,003 | -98.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €179,003 | - | -€179,003 | |
| Distributable reserves | 133 | €179,003 | - | -€179,003 | |
| Amounts payable | 17/49 | €805,434 | €946,430 | +€140,996 | +17.5% |
| Amounts payable after more than one year | 17 | €564,353 | €491,655 | -€72,698 | -12.9% |
| Financial debts | 170/4 | €564,353 | €491,655 | -€72,698 | -12.9% |
| Amounts payable within one year | 42/48 | €240,982 | €453,994 | +€213,012 | +88.4% |
| Current portion of amounts payable after more than one year | 42 | €72,698 | €72,698 | = | 0.0% |
| Trade debts | 44 | €10,555 | €12,416 | +€1,861 | +17.6% |
| Suppliers | 440/4 | €10,555 | €12,416 | +€1,861 | +17.6% |
| Taxes, remuneration and social security | 45 | €136,345 | €138,686 | +€2,341 | +1.7% |
| Taxes | 450/3 | €33,714 | €37,878 | +€4,164 | +12.4% |
| Remuneration and social security | 454/9 | €102,631 | €100,808 | -€1,823 | -1.8% |
| Other amounts payable | 47/48 | €21,384 | €230,195 | +€208,811 | +976% |
| Accrued charges and deferred income | 492/3 | €99 | €781 | +€682 | +689% |
| Remuneration, social security and pensions | 62 | €168,009 | €147,540 | -€20,469 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,561 | €66,579 | -€981 | -1.5% |
| Other operating charges | 640/8 | €5,198 | €5,721 | +€523 | +10.1% |
| Gross operating margin | 9900 | €360,437 | €346,298 | -€14,139 | -3.9% |
| Operating profit (loss) | 9901 | €119,670 | €126,459 | +€6,789 | +5.7% |
| Financial income | 75/76B | €1,497 | €1,230 | -€267 | -17.8% |
| Recurring financial income | 75 | €1,497 | €1,230 | -€267 | -17.8% |
| Financial charges | 65/66B | €13,064 | €11,874 | -€1,190 | -9.1% |
| Recurring financial charges | 65 | €13,064 | €11,874 | -€1,190 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €108,102 | €115,815 | +€7,713 | +7.1% |
| Income taxes | 67/77 | €24,504 | €27,237 | +€2,733 | +11.2% |
| Profit (loss) for the period | 9904 | €83,599 | €88,578 | +€4,979 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,599 | €88,578 | +€4,979 | +6.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.