GECODI: 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.
GECODI
Largest movements
- Deferred charges and accrued income -€56,634
down €56,634 (-95.3%), from €59,439 to €2,805
- Current investments -€46,876
down €46,876 (-29.2%), from €160,607 to €113,730
- Receivables within one year +€29,997
up €29,997 (+18.8%), from €159,320 to €189,317
of which Other amounts receivable: +€28,990
- Tangible fixed assets +€15,944
up €15,944 (+3539.3%), from €451 to €16,395
of which Furniture and vehicles: +€15,944
- Cash +€4,346
new in 2025: €4,346
mainly Deferred charges and accrued income (+€56,634) and Current investments (+€46,876)
- Tax, wage and social debts -€43,545
no longer reported in 2025 (was €43,545)
- Profit (loss) carried forward -€5,121
down €5,121 (-174.3%), from -€2,938 to -€8,059
- Short-term financial debts -€3,858
no longer reported in 2025 (was €3,858)
- Taxes -€9,465
down €9,465, from €2,312 to -€7,153
- Financial income -€5,791
down €5,791 (-41.3%), from €14,012 to €8,221
- Gross operating margin -€2,688
down €2,688 (-30.6%), from -€8,794 to -€11,482
- Depreciation +€1,617
up €1,617 (+43.7%), from €3,698 to €5,315
- Financial charges +€1,467
up €1,467 (+85.9%), from €1,707 to €3,174
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 | €379,816 | €326,592 | -€53,224 | -14.0% |
| Fixed assets | 21/28 | €451 | €16,395 | +€15,944 | +3539.3% |
| Tangible fixed assets | 22/27 | €451 | €16,395 | +€15,944 | +3539.3% |
| Furniture and vehicles | 24 | - | €15,944 | +€15,944 | |
| Other tangible fixed assets | 26 | €451 | €451 | = | 0.0% |
| Current assets | 29/58 | €379,366 | €310,198 | -€69,168 | -18.2% |
| Amounts receivable within one year | 40/41 | €159,320 | €189,317 | +€29,997 | +18.8% |
| Trade receivables | 40 | €10,012 | €11,018 | +€1,007 | +10.1% |
| Other amounts receivable | 41 | €149,309 | €178,298 | +€28,990 | +19.4% |
| Current investments | 50/53 | €160,607 | €113,730 | -€46,876 | -29.2% |
| Cash at bank and in hand | 54/58 | - | €4,346 | +€4,346 | |
| Deferred charges and accrued income | 490/1 | €59,439 | €2,805 | -€56,634 | -95.3% |
| Total equity and liabilities | 10/49 | €379,816 | €326,592 | -€53,224 | -14.0% |
| Equity | 10/15 | €317,569 | €312,448 | -€5,121 | -1.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Capital | 10 | €6,197 | €6,197 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €314,309 | €314,309 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,250 | €11,250 | = | 0.0% |
| Distributable reserves | 133 | €301,200 | €301,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,938 | -€8,059 | -€5,121 | -174.3% |
| Amounts payable | 17/49 | €62,247 | €14,145 | -€48,103 | -77.3% |
| Amounts payable within one year | 42/48 | €62,247 | €14,145 | -€48,103 | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €6,023 | €5,978 | -€45 | -0.8% |
| Financial debts | 43 | €3,858 | - | -€3,858 | |
| Credit institutions | 430/8 | €3,858 | - | -€3,858 | |
| Trade debts | 44 | €8,822 | €6,667 | -€2,155 | -24.4% |
| Suppliers | 440/4 | €8,822 | €6,667 | -€2,155 | -24.4% |
| Taxes, remuneration and social security | 45 | €43,545 | - | -€43,545 | |
| Taxes | 450/3 | €43,545 | - | -€43,545 | |
| Other amounts payable | 47/48 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,698 | €5,315 | +€1,617 | +43.7% |
| Other operating charges | 640/8 | €482 | €524 | +€42 | +8.8% |
| Gross operating margin | 9900 | -€8,794 | -€11,482 | -€2,688 | -30.6% |
| Operating profit (loss) | 9901 | -€12,974 | -€17,322 | -€4,348 | -33.5% |
| Financial income | 75/76B | €14,012 | €8,221 | -€5,791 | -41.3% |
| Recurring financial income | 75 | €14,012 | €8,221 | -€5,791 | -41.3% |
| Financial charges | 65/66B | €1,707 | €3,174 | +€1,467 | +85.9% |
| Recurring financial charges | 65 | €1,707 | €3,174 | +€1,467 | +85.9% |
| Profit (loss) for the period before taxes | 9903 | -€669 | -€12,274 | -€11,605 | -1734.7% |
| Income taxes | 67/77 | €2,312 | -€7,153 | -€9,465 | |
| Profit (loss) for the period | 9904 | -€2,981 | -€5,121 | -€2,141 | -71.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,981 | -€5,121 | -€2,141 | -71.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.