GECODAM 2.0: 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.
GECODAM 2.0
Largest movements
- Tangible fixed assets -€267,180
down €267,180 (-53.7%), from €498,004 to €230,824
of which Land and buildings: -€265,616
- Receivables after one year -€150,000
down €150,000 (-67.3%), from €223,000 to €73,000
- Receivables within one year +€63,773
up €63,773 (+818.8%), from €7,788 to €71,561
of which Other amounts receivable: +€56,517
- Cash +€62,617
up €62,617 (+428.0%), from €14,630 to €77,247
mainly Investment in fixed assets (net) (+€256,810) and Net result for the year (+€202,622)
- Other debts -€426,354
down €426,354 (-100.0%), from €426,354 to €0
- Profit (loss) carried forward +€202,622
up €202,622 (+67.1%), from -€302,071 to -€99,449
- Debts after one year -€68,677
down €68,677 (-13.6%), from €504,219 to €435,542
- Gross operating margin +€225,810
up €225,810 (+1603.6%), from €14,081 to €239,891
- Depreciation -€79,341
down €79,341 (-88.4%), from €89,712 to €10,370
- Other operating charges +€14,263
up €14,263 (+252.6%), from €5,646 to €19,910
- Financial income -€13,215
down €13,215 (-89.9%), from €14,702 to €1,487
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 | €756,675 | €463,579 | -€293,095 | -38.7% |
| Fixed assets | 21/28 | €498,004 | €230,824 | -€267,180 | -53.7% |
| Tangible fixed assets | 22/27 | €498,004 | €230,824 | -€267,180 | -53.7% |
| Land and buildings | 22 | €494,491 | €228,875 | -€265,616 | -53.7% |
| Plant, machinery and equipment | 23 | €216 | €0 | -€216 | -100.0% |
| Furniture and vehicles | 24 | €3,296 | €1,948 | -€1,348 | -40.9% |
| Current assets | 29/58 | €258,670 | €232,756 | -€25,915 | -10.0% |
| Amounts receivable after more than one year | 29 | €223,000 | €73,000 | -€150,000 | -67.3% |
| Other amounts receivable | 291 | €223,000 | €73,000 | -€150,000 | -67.3% |
| Amounts receivable within one year | 40/41 | €7,788 | €71,561 | +€63,773 | +818.8% |
| Trade receivables | 40 | €6,050 | €13,306 | +€7,256 | +119.9% |
| Other amounts receivable | 41 | €1,738 | €58,255 | +€56,517 | +3251.7% |
| Cash at bank and in hand | 54/58 | €14,630 | €77,247 | +€62,617 | +428.0% |
| Deferred charges and accrued income | 490/1 | €13,252 | €10,948 | -€2,304 | -17.4% |
| Total equity and liabilities | 10/49 | €756,675 | €463,579 | -€293,095 | -38.7% |
| Equity | 10/15 | -€252,071 | -€49,449 | +€202,622 | +80.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€302,071 | -€99,449 | +€202,622 | +67.1% |
| Amounts payable | 17/49 | €1,008,746 | €513,028 | -€495,718 | -49.1% |
| Amounts payable after more than one year | 17 | €504,219 | €435,542 | -€68,677 | -13.6% |
| Financial debts | 170/4 | €504,219 | €435,542 | -€68,677 | -13.6% |
| Amounts payable within one year | 42/48 | €504,527 | €77,487 | -€427,041 | -84.6% |
| Current portion of amounts payable after more than one year | 42 | €67,879 | €68,677 | +€798 | +1.2% |
| Trade debts | 44 | €9,098 | €8,605 | -€493 | -5.4% |
| Suppliers | 440/4 | €9,098 | €8,605 | -€493 | -5.4% |
| Taxes, remuneration and social security | 45 | €1,196 | €204 | -€992 | -82.9% |
| Taxes | 450/3 | €1,196 | €204 | -€992 | -82.9% |
| Other amounts payable | 47/48 | €426,354 | €0 | -€426,354 | -100.0% |
| Remuneration, social security and pensions | 62 | €819 | - | -€819 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,712 | €10,370 | -€79,341 | -88.4% |
| Other operating charges | 640/8 | €5,646 | €19,910 | +€14,263 | +252.6% |
| Non-recurring operating charges | 66A | - | €917 | +€917 | |
| Gross operating margin | 9900 | €14,081 | €239,891 | +€225,810 | +1603.6% |
| Operating profit (loss) | 9901 | -€82,096 | €208,694 | +€290,790 | |
| Financial income | 75/76B | €14,702 | €1,487 | -€13,215 | -89.9% |
| Recurring financial income | 75 | €14,702 | €1,487 | -€13,215 | -89.9% |
| Financial charges | 65/66B | €7,888 | €7,175 | -€713 | -9.0% |
| Recurring financial charges | 65 | €7,888 | €7,175 | -€713 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€75,281 | €203,006 | +€278,287 | |
| Income taxes | 67/77 | -€1,882 | €383 | +€2,266 | |
| Profit (loss) for the period | 9904 | -€73,399 | €202,622 | +€276,022 | |
| Profit (loss) for the period to be appropriated | 9905 | -€73,399 | €202,622 | +€276,022 |
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 5 October 2026 via checked.be.