GECRO PROJECTS: 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.
GECRO PROJECTS
Largest movements
- Receivables within one year -€141,052
down €141,052 (-77.6%), from €181,694 to €40,643
of which Other amounts receivable: -€154,313
- Cash +€30,246
up €30,246 (+5.8%), from €524,606 to €554,852
mainly Receivables within one year (+€141,052) and Stocks and contracts (+€15,562)
- Stocks and contracts -€15,562
down €15,562 (-26.7%), from €58,306 to €42,744
of which Contracts in progress: -€43,306
- Tangible fixed assets -€14,644
down €14,644 (-5.2%), from €280,606 to €265,962
of which Land and buildings: -€11,294
- Reserves -€135,415
down €135,415 (-17.2%), from €787,469 to €652,054
of which Distributable reserves: -€104,618
- Debts after one year -€11,204
down €11,204 (-5.4%), from €208,071 to €196,867
- Gross operating margin -€26,518
down €26,518 (-27.0%), from -€98,048 to -€124,566
- Financial income +€16,825
up €16,825 (+162562.3%), from €10 to €16,836
of which Financial income: +€12,486
- Depreciation -€4,491
down €4,491 (-23.4%), from €19,226 to €14,735
- Staff costs +€3,040
up €3,040, from -€1,253 to €1,787
- Financial charges +€1,651
up €1,651 (+24.8%), from €6,644 to €8,295
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 | €1,049,195 | €906,746 | -€142,449 | -13.6% |
| Fixed assets | 21/28 | €280,606 | €265,962 | -€14,644 | -5.2% |
| Tangible fixed assets | 22/27 | €280,606 | €265,962 | -€14,644 | -5.2% |
| Land and buildings | 22 | €273,140 | €261,846 | -€11,294 | -4.1% |
| Plant, machinery and equipment | 23 | €3,393 | €2,837 | -€555 | -16.4% |
| Furniture and vehicles | 24 | €4,073 | €1,279 | -€2,794 | -68.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €768,589 | €640,784 | -€127,805 | -16.6% |
| Stocks and contracts in progress | 3 | €58,306 | €42,744 | -€15,562 | -26.7% |
| Stocks | 30/36 | €15,000 | €42,744 | +€27,744 | +185.0% |
| Contracts in progress | 37 | €43,306 | €0 | -€43,306 | -100.0% |
| Amounts receivable within one year | 40/41 | €181,694 | €40,643 | -€141,052 | -77.6% |
| Trade receivables | 40 | €23,984 | €37,245 | +€13,261 | +55.3% |
| Other amounts receivable | 41 | €157,710 | €3,398 | -€154,313 | -97.8% |
| Cash at bank and in hand | 54/58 | €524,606 | €554,852 | +€30,246 | +5.8% |
| Deferred charges and accrued income | 490/1 | €3,983 | €2,545 | -€1,438 | -36.1% |
| Total equity and liabilities | 10/49 | €1,049,195 | €906,746 | -€142,449 | -13.6% |
| Equity | 10/15 | €815,436 | €680,021 | -€135,415 | -16.6% |
| Contributions | 10/11 | €27,967 | €27,967 | = | 0.0% |
| Reserves | 13 | €787,469 | €652,054 | -€135,415 | -17.2% |
| Non-distributable reserves | 130/1 | €30,797 | €0 | -€30,797 | -100.0% |
| Reserves not available under the articles | 1311 | €30,797 | - | -€30,797 | |
| Other | 1319 | - | €0 | = | |
| Distributable reserves | 133 | €756,672 | €652,054 | -€104,618 | -13.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €233,759 | €226,725 | -€7,034 | -3.0% |
| Amounts payable after more than one year | 17 | €208,071 | €196,867 | -€11,204 | -5.4% |
| Financial debts | 170/4 | €208,071 | €196,867 | -€11,204 | -5.4% |
| Amounts payable within one year | 42/48 | €25,688 | €29,858 | +€4,170 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €10,997 | €11,204 | +€206 | +1.9% |
| Trade debts | 44 | €12,097 | €7,291 | -€4,806 | -39.7% |
| Suppliers | 440/4 | €12,097 | €7,291 | -€4,806 | -39.7% |
| Taxes, remuneration and social security | 45 | €933 | €5,308 | +€4,375 | +469.1% |
| Taxes | 450/3 | €933 | €2,732 | +€1,799 | +192.9% |
| Remuneration and social security | 454/9 | €0 | €2,576 | +€2,576 | |
| Other amounts payable | 47/48 | €1,662 | €6,055 | +€4,393 | +264.4% |
| Non-recurring operating income | 76A | - | €125 | +€125 | |
| Remuneration, social security and pensions | 62 | -€1,253 | €1,787 | +€3,040 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,226 | €14,735 | -€4,491 | -23.4% |
| Other operating charges | 640/8 | €1,757 | €2,571 | +€814 | +46.3% |
| Gross operating margin | 9900 | -€98,048 | -€124,566 | -€26,518 | -27.0% |
| Operating profit (loss) | 9901 | -€117,778 | -€143,660 | -€25,882 | -22.0% |
| Financial income | 75/76B | €10 | €16,836 | +€16,825 | +162562.3% |
| Recurring financial income | 75 | €10 | €12,497 | +€12,486 | +120640.3% |
| Non-recurring financial income | 76B | - | €4,339 | +€4,339 | |
| Financial charges | 65/66B | €6,644 | €8,295 | +€1,651 | +24.8% |
| Recurring financial charges | 65 | €6,644 | €8,295 | +€1,651 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | -€124,412 | -€135,119 | -€10,707 | -8.6% |
| Income taxes | 67/77 | €331 | €296 | -€35 | -10.6% |
| Profit (loss) for the period | 9904 | -€124,743 | -€135,415 | -€10,672 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,743 | -€135,415 | -€10,672 | -8.6% |
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 6 October 2026 via checked.be.