Gedarco: 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.
Gedarco
Largest movements
- Cash +€12,496
up €12,496 (+23.6%), from €53,034 to €65,530
mainly Other debts (+€43,101) and Net result for the year (+€33,906)
- Receivables within one year +€4,509
up €4,509 (+34.6%), from €13,016 to €17,525
of which Other amounts receivable: +€2,719
- Tangible fixed assets +€1,337
up €1,337 (+31.3%), from €4,267 to €5,604
- Other debts +€43,101
up €43,101 (+883.7%), from €4,877 to €47,978
- Trade debts -€13,915
down €13,915 (-93.4%), from €14,891 to €976
- Reserves -€13,705
down €13,705 (-36.5%), from €37,558 to €23,853
- Tax, wage and social debts +€3,300
up €3,300 (+43.7%), from €7,552 to €10,852
- Gross operating margin +€12,713
up €12,713 (+35.6%), from €35,702 to €48,415
- Taxes +€3,524
up €3,524 (+45.4%), from €7,757 to €11,281
- Other operating charges -€2,386
down €2,386 (-65.3%), from €3,655 to €1,269
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 | €70,317 | €88,659 | +€18,342 | +26.1% |
| Fixed assets | 21/28 | €4,267 | €5,604 | +€1,337 | +31.3% |
| Tangible fixed assets | 22/27 | €4,267 | €5,604 | +€1,337 | +31.3% |
| Furniture and vehicles | 24 | €4,267 | €5,604 | +€1,337 | +31.3% |
| Current assets | 29/58 | €66,050 | €83,055 | +€17,005 | +25.7% |
| Amounts receivable within one year | 40/41 | €13,016 | €17,525 | +€4,509 | +34.6% |
| Trade receivables | 40 | €13,016 | €14,806 | +€1,790 | +13.8% |
| Other amounts receivable | 41 | - | €2,719 | +€2,719 | |
| Cash at bank and in hand | 54/58 | €53,034 | €65,530 | +€12,496 | +23.6% |
| Total equity and liabilities | 10/49 | €70,317 | €88,659 | +€18,342 | +26.1% |
| Equity | 10/15 | €42,558 | €28,853 | -€13,705 | -32.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €37,558 | €23,853 | -€13,705 | -36.5% |
| Distributable reserves | 133 | €37,558 | €23,853 | -€13,705 | -36.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €27,759 | €59,806 | +€32,047 | +115.4% |
| Amounts payable within one year | 42/48 | €27,319 | €59,806 | +€32,487 | +118.9% |
| Trade debts | 44 | €14,891 | €976 | -€13,915 | -93.4% |
| Suppliers | 440/4 | €14,891 | €976 | -€13,915 | -93.4% |
| Taxes, remuneration and social security | 45 | €7,552 | €10,852 | +€3,300 | +43.7% |
| Taxes | 450/3 | €7,552 | €10,852 | +€3,300 | +43.7% |
| Other amounts payable | 47/48 | €4,877 | €47,978 | +€43,101 | +883.7% |
| Accrued charges and deferred income | 492/3 | €440 | €0 | -€440 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €258 | €619 | +€360 | +139.4% |
| Other operating charges | 640/8 | €3,655 | €1,269 | -€2,386 | -65.3% |
| Non-recurring operating charges | 66A | €8,623 | €0 | -€8,623 | -100.0% |
| Gross operating margin | 9900 | €35,702 | €48,415 | +€12,713 | +35.6% |
| Operating profit (loss) | 9901 | €23,165 | €46,527 | +€23,362 | +100.8% |
| Financial income | 75/76B | €0 | €30 | +€30 | |
| Recurring financial income | 75 | €0 | €30 | +€30 | |
| Financial charges | 65/66B | €1,703 | €1,370 | -€332 | -19.5% |
| Recurring financial charges | 65 | €1,703 | €1,370 | -€332 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €21,463 | €45,187 | +€23,724 | +110.5% |
| Income taxes | 67/77 | €7,757 | €11,281 | +€3,524 | +45.4% |
| Profit (loss) for the period | 9904 | €13,705 | €33,906 | +€20,200 | +147.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,705 | €33,906 | +€20,200 | +147.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.