GECOM: 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
GECOM
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€254,659
2024 · -€15,429-€239,230
Equity
€17.7m
2024 · €17.9m-€254,659
Cash
€35,920
2024 · €62,183-€26,263
Balance sheet total
€20.5m
2024 · €25.8m-€5.3m
Largest movements
Assets
- Receivables after one year -€4.7m
down €4.7m (-100.0%), from €4.7m to €0
- Receivables within one year -€1.1m
down €1.1m (-29.1%), from €3.8m to €2.7m
of which Other amounts receivable: -€1.0m
- Tangible fixed assets +€754,671
up €754,671 (+6.4%), from €11.8m to €12.5m
of which Land and buildings: +€507,312
Equity and liabilities
- Short-term financial debts -€5.0m
down €5.0m (-100.0%), from €5.0m to €0
Income statement
- Turnover -€120,849
down €120,849 (-39.3%), from €307,312 to €186,463
- Financial charges -€75,669
down €75,669 (-23.0%), from €328,966 to €253,297
of which Financial charges: -€75,663
- Depreciation +€72,047
up €72,047 (+24.6%), from €293,235 to €365,283
- Services and other goods +€57,128
up €57,128 (+43.6%), from €131,063 to €188,191
- Financial income -€23,376
down €23,376 (-19.4%), from €120,665 to €97,289
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
-€15,429
Turnover
-€120,849
Other operating income
-€7,870
Goods and materials
-€1,654
Services and other goods
-€57,128
Depreciation
-€72,047
Other operating charges
-€21,022
Other operating items
-€939
Financial income
-€23,376
Financial charges
+€75,669
Taxes
-€9,233
Deferred taxes and other
-€780
Result 2025
-€254,659
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.
From operations
+€6.2m
Investment
-€1.1m
Financing
-€5.1m
Cash 2024
€62,183
From operations (derived)
+€6.2m
Net result for the year
-€254,659
Depreciation
+€365,283
Receivables after one year
+€4.7m
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€217,967
Provisions
-€37,071
Smaller working-capital items
+€1,256
Other debts
+€104,571
Accrued charges and deferred income
-€16,631
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
-€5.1m
Debts after one year
-€100,000
Short-term financial debts
-€5.0m
Cash 2025
€35,920
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,806,339 | €20,503,805 | -€5.3m | -20.5% |
| Fixed assets | 21/28 | €16,759,701 | €17,511,872 | +€752,171 | +4.5% |
| Tangible fixed assets | 22/27 | €11,773,891 | €12,528,562 | +€754,671 | +6.4% |
| Land and buildings | 22 | €11,323,454 | €11,830,766 | +€507,312 | +4.5% |
| Plant, machinery and equipment | 23 | €12,295 | €11,091 | -€1,204 | -9.8% |
| Furniture and vehicles | 24 | €846 | €2,707 | +€1,861 | +220.0% |
| Other tangible fixed assets | 26 | €437,296 | €683,998 | +€246,702 | +56.4% |
| Financial fixed assets | 28 | €4,985,810 | €4,983,310 | -€2,500 | -0.1% |
| Affiliated companies | 280/1 | €4,781,641 | €4,781,641 | = | 0.0% |
| Participating interests | 280 | €4,781,641 | €4,781,641 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €1,668 | €1,668 | = | 0.0% |
| Participating interests | 282 | €1,668 | €1,668 | = | 0.0% |
| Other financial fixed assets | 284/8 | €202,500 | €200,000 | -€2,500 | -1.2% |
| Amounts receivable and cash guarantees | 285/8 | €202,500 | €200,000 | -€2,500 | -1.2% |
| Current assets | 29/58 | €9,046,638 | €2,991,933 | -€6.1m | -66.9% |
| Amounts receivable after more than one year | 29 | €4,700,000 | €0 | -€4.7m | -100.0% |
| Other amounts receivable | 291 | €4,700,000 | €0 | -€4.7m | -100.0% |
| Stocks and contracts in progress | 3 | €226,093 | €226,093 | = | 0.0% |
| Stocks | 30/36 | €226,093 | €226,093 | = | 0.0% |
| Property held for sale | 35 | €226,093 | €226,093 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,818,280 | €2,707,805 | -€1.1m | -29.1% |
| Trade receivables | 40 | €162,332 | €78,923 | -€83,410 | -51.4% |
| Other amounts receivable | 41 | €3,655,948 | €2,628,883 | -€1.0m | -28.1% |
| Cash at bank and in hand | 54/58 | €62,183 | €35,920 | -€26,263 | -42.2% |
| Deferred charges and accrued income | 490/1 | €240,082 | €22,115 | -€217,967 | -90.8% |
| Total equity and liabilities | 10/49 | €25,806,339 | €20,503,805 | -€5.3m | -20.5% |
| Equity | 10/15 | €17,928,173 | €17,673,514 | -€254,659 | -1.4% |
| Contributions | 10/11 | €783,947 | €783,947 | = | 0.0% |
| Capital | 10 | €783,947 | €783,947 | = | 0.0% |
| Issued capital | 100 | €783,947 | €783,947 | = | 0.0% |
| Reserves | 13 | €17,144,226 | €16,889,568 | -€254,659 | -1.5% |
| Non-distributable reserves | 130/1 | €78,395 | €78,395 | = | 0.0% |
| Legal reserve | 130 | €78,395 | €78,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,728,125 | €2,616,913 | -€111,213 | -4.1% |
| Distributable reserves | 133 | €14,337,706 | €14,194,260 | -€143,446 | -1.0% |
| Provisions and deferred taxes | 16 | €908,141 | €871,071 | -€37,071 | -4.1% |
| Deferred taxes | 168 | €908,141 | €871,071 | -€37,071 | -4.1% |
| Amounts payable | 17/49 | €6,970,024 | €1,959,220 | -€5.0m | -71.9% |
| Amounts payable after more than one year | 17 | €100,000 | €0 | -€100,000 | -100.0% |
| Financial debts | 170/4 | €100,000 | €0 | -€100,000 | -100.0% |
| Other loans | 174 | €100,000 | €0 | -€100,000 | -100.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €6,585,821 | €1,691,648 | -€4.9m | -74.3% |
| Financial debts | 43 | €5,000,000 | €0 | -€5.0m | -100.0% |
| Credit institutions | 430/8 | €5,000,000 | €0 | -€5.0m | -100.0% |
| Trade debts | 44 | €54,042 | €54,241 | +€199 | +0.4% |
| Suppliers | 440/4 | €54,042 | €54,241 | +€199 | +0.4% |
| Advances received on contracts in progress | 46 | €14,980 | €9,420 | -€5,560 | -37.1% |
| Taxes, remuneration and social security | 45 | €30,608 | €37,225 | +€6,617 | +21.6% |
| Taxes | 450/3 | €30,594 | €37,225 | +€6,631 | +21.7% |
| Remuneration and social security | 454/9 | €14 | €0 | -€14 | -100.0% |
| Other amounts payable | 47/48 | €1,486,191 | €1,590,762 | +€104,571 | +7.0% |
| Accrued charges and deferred income | 492/3 | €284,203 | €267,572 | -€16,631 | -5.9% |
| Operating income | 70/76A | €669,852 | €541,186 | -€128,666 | -19.2% |
| Turnover | 70 | €307,312 | €186,463 | -€120,849 | -39.3% |
| Other operating income | 74 | €346,536 | €338,666 | -€7,870 | -2.3% |
| Non-recurring operating income | 76A | €16,004 | €16,057 | +€53 | +0.3% |
| Operating charges | 60/66A | €514,819 | €667,662 | +€152,844 | +29.7% |
| Goods for resale, raw materials and consumables | 60 | €5,677 | €7,331 | +€1,654 | +29.1% |
| Purchases | 600/8 | €5,677 | €7,331 | +€1,654 | +29.1% |
| Change in stocks: decrease (increase) | 609 | €0 | - | = | |
| Services and other goods | 61 | €131,063 | €188,191 | +€57,128 | +43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293,235 | €365,283 | +€72,047 | +24.6% |
| Other operating charges | 640/8 | €84,843 | €105,866 | +€21,022 | +24.8% |
| Non-recurring operating charges | 66A | - | €992 | +€992 | |
| Operating profit (loss) | 9901 | €155,033 | -€126,476 | -€281,510 | |
| Financial income | 75/76B | €120,665 | €97,289 | -€23,376 | -19.4% |
| Recurring financial income | 75 | €120,665 | €97,289 | -€23,376 | -19.4% |
| Income from financial fixed assets | 750 | €120,665 | €97,288 | -€23,377 | -19.4% |
| Other financial income | 752/9 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €328,966 | €253,297 | -€75,669 | -23.0% |
| Recurring financial charges | 65 | €328,960 | €253,297 | -€75,663 | -23.0% |
| Debt charges | 650 | €327,833 | €252,194 | -€75,640 | -23.1% |
| Other financial charges | 652/9 | €1,126 | €1,103 | -€23 | -2.1% |
| Non-recurring financial charges | 66B | €6 | €0 | -€6 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€53,267 | -€282,483 | -€229,216 | -430.3% |
| Transfer from deferred taxes | 780 | €37,851 | €37,071 | -€780 | -2.1% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €13 | €9,246 | +€9,233 | +71519.8% |
| Taxes | 670/3 | €13 | €9,246 | +€9,233 | +71519.8% |
| Profit (loss) for the period | 9904 | -€15,429 | -€254,659 | -€239,230 | -1550.5% |
| Transfer from tax-exempt reserves | 789 | €113,554 | €111,213 | -€2,341 | -2.1% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €98,125 | -€143,446 | -€241,571 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.