GECOTEC: 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.
GECOTEC
Largest movements
- Current investments -€37,204
down €37,204 (-53.4%), from €69,709 to €32,505
- Cash +€23,493
up €23,493 (+46.4%), from €50,588 to €74,081
mainly Current investments (+€37,204) and Depreciation (+€19,063)
- Tangible fixed assets -€17,875
down €17,875 (-7.8%), from €229,663 to €211,788
of which Furniture and vehicles: -€10,297
- Receivables after one year -€16,300
no longer reported in 2025 (was €16,300)
- Receivables within one year -€16,168
down €16,168 (-44.8%), from €36,129 to €19,961
of which Trade receivables: -€16,237
- Debts after one year -€40,422
down €40,422 (-37.0%), from €109,309 to €68,887
- Reserves -€11,978
down €11,978 (-7.2%), from €165,915 to €153,937
of which Distributable reserves: -€11,978
- Tax, wage and social debts -€7,859
down €7,859 (-28.1%), from €27,996 to €20,137
- Gross operating margin -€28,208
down €28,208 (-58.1%), from €48,531 to €20,323
- Financial income +€19,365
up €19,365 (+3960.1%), from €489 to €19,854
- Depreciation +€6,862
up €6,862 (+56.2%), from €12,201 to €19,063
- Taxes -€3,796
down €3,796 (-47.6%), from €7,967 to €4,171
- Financial charges +€987
up €987 (+21.6%), from €4,575 to €5,562
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 | €521,825 | €458,979 | -€62,846 | -12.0% |
| Fixed assets | 21/28 | €326,663 | €308,788 | -€17,875 | -5.5% |
| Tangible fixed assets | 22/27 | €229,663 | €211,788 | -€17,875 | -7.8% |
| Land and buildings | 22 | €179,765 | €172,187 | -€7,578 | -4.2% |
| Furniture and vehicles | 24 | €49,898 | €39,601 | -€10,297 | -20.6% |
| Financial fixed assets | 28 | €97,000 | €97,000 | = | 0.0% |
| Current assets | 29/58 | €195,162 | €150,191 | -€44,971 | -23.0% |
| Amounts receivable after more than one year | 29 | €16,300 | - | -€16,300 | |
| Other amounts receivable | 291 | €16,300 | - | -€16,300 | |
| Amounts receivable within one year | 40/41 | €36,129 | €19,961 | -€16,168 | -44.8% |
| Trade receivables | 40 | €33,755 | €17,518 | -€16,237 | -48.1% |
| Other amounts receivable | 41 | €2,374 | €2,443 | +€69 | +2.9% |
| Current investments | 50/53 | €69,709 | €32,505 | -€37,204 | -53.4% |
| Cash at bank and in hand | 54/58 | €50,588 | €74,081 | +€23,493 | +46.4% |
| Deferred charges and accrued income | 490/1 | €22,436 | €23,644 | +€1,208 | +5.4% |
| Total equity and liabilities | 10/49 | €521,825 | €458,979 | -€62,846 | -12.0% |
| Equity | 10/15 | €317,915 | €305,937 | -€11,978 | -3.8% |
| Contributions | 10/11 | €152,000 | €152,000 | = | 0.0% |
| Capital | 10 | €152,000 | €152,000 | = | 0.0% |
| Issued capital | 100 | €152,000 | €152,000 | = | 0.0% |
| Reserves | 13 | €165,915 | €153,937 | -€11,978 | -7.2% |
| Non-distributable reserves | 130/1 | €15,200 | €15,200 | = | 0.0% |
| Legal reserve | 130 | €15,200 | €15,200 | = | 0.0% |
| Distributable reserves | 133 | €150,715 | €138,737 | -€11,978 | -7.9% |
| Amounts payable | 17/49 | €203,910 | €153,042 | -€50,868 | -24.9% |
| Amounts payable after more than one year | 17 | €109,309 | €68,887 | -€40,422 | -37.0% |
| Financial debts | 170/4 | €109,309 | €68,887 | -€40,422 | -37.0% |
| Amounts payable within one year | 42/48 | €94,601 | €84,155 | -€10,446 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €43,112 | €39,995 | -€3,117 | -7.2% |
| Trade debts | 44 | €3,019 | €3,549 | +€530 | +17.6% |
| Suppliers | 440/4 | €2,595 | €3,124 | +€529 | +20.4% |
| Bills of exchange payable | 441 | €424 | €425 | +€1 | +0.2% |
| Taxes, remuneration and social security | 45 | €27,996 | €20,137 | -€7,859 | -28.1% |
| Taxes | 450/3 | €27,996 | €20,137 | -€7,859 | -28.1% |
| Other amounts payable | 47/48 | €20,474 | €20,474 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,201 | €19,063 | +€6,862 | +56.2% |
| Other operating charges | 640/8 | €3,579 | €3,359 | -€220 | -6.1% |
| Gross operating margin | 9900 | €48,531 | €20,323 | -€28,208 | -58.1% |
| Operating profit (loss) | 9901 | €32,751 | -€2,099 | -€34,850 | |
| Financial income | 75/76B | €489 | €19,854 | +€19,365 | +3960.1% |
| Recurring financial income | 75 | €489 | €19,854 | +€19,365 | +3960.1% |
| Financial charges | 65/66B | €4,575 | €5,562 | +€987 | +21.6% |
| Recurring financial charges | 65 | €4,575 | €5,562 | +€987 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €28,665 | €12,193 | -€16,472 | -57.5% |
| Income taxes | 67/77 | €7,967 | €4,171 | -€3,796 | -47.6% |
| Profit (loss) for the period | 9904 | €20,698 | €8,022 | -€12,676 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,698 | €8,022 | -€12,676 | -61.2% |
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 29 September 2026 via checked.be.