GEDEB: 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.
GEDEB
Largest movements
- Cash -€126,432
down €126,432 (-75.4%), from €167,671 to €41,239
mainly Contributions, distributions and other (-€149,243) and Current investments (-€34,382)
- Current investments +€34,382
new in 2025: €34,382
- Tangible fixed assets +€32,571
up €32,571 (+1018.8%), from €3,197 to €35,768
of which Other tangible fixed assets: +€32,969
- Receivables within one year -€12,036
down €12,036 (-66.8%), from €18,024 to €5,987
of which Trade receivables: -€14,157
- Intangible fixed assets -€12,000
down €12,000 (-50.0%), from €24,000 to €12,000
- Reserves -€67,893
down €67,893 (-91.4%), from €74,243 to €6,350
- Other debts -€12,685
down €12,685 (-32.1%), from €39,569 to €26,884
- Tax, wage and social debts -€9,142
down €9,142 (-62.0%), from €14,753 to €5,611
- Trade debts +€5,881
up €5,881 (+2059.2%), from €286 to €6,167
- Gross operating margin +€11,123
up €11,123 (+9.4%), from €118,957 to €130,080
- Taxes +€2,025
up €2,025 (+9.2%), from €21,988 to €24,013
- Financial income -€1,586
down €1,586 (-100.0%), from €1,586 to €0
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 | €214,456 | €132,014 | -€82,442 | -38.4% |
| Fixed assets | 21/28 | €27,197 | €47,768 | +€20,571 | +75.6% |
| Intangible fixed assets | 21 | €24,000 | €12,000 | -€12,000 | -50.0% |
| Tangible fixed assets | 22/27 | €3,197 | €35,768 | +€32,571 | +1018.8% |
| Plant, machinery and equipment | 23 | €0 | €469 | +€469 | |
| Furniture and vehicles | 24 | €3,197 | €2,331 | -€866 | -27.1% |
| Other tangible fixed assets | 26 | - | €32,969 | +€32,969 | |
| Current assets | 29/58 | €187,259 | €84,246 | -€103,013 | -55.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €18,024 | €5,987 | -€12,036 | -66.8% |
| Trade receivables | 40 | €14,157 | €0 | -€14,157 | -100.0% |
| Other amounts receivable | 41 | €3,867 | €5,987 | +€2,121 | +54.8% |
| Current investments | 50/53 | - | €34,382 | +€34,382 | |
| Cash at bank and in hand | 54/58 | €167,671 | €41,239 | -€126,432 | -75.4% |
| Deferred charges and accrued income | 490/1 | €1,564 | €2,638 | +€1,074 | +68.7% |
| Total equity and liabilities | 10/49 | €214,456 | €132,014 | -€82,442 | -38.4% |
| Equity | 10/15 | €75,243 | €7,350 | -€67,893 | -90.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €74,243 | €6,350 | -€67,893 | -91.4% |
| Distributable reserves | 133 | €74,243 | €6,350 | -€67,893 | -91.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €139,213 | €124,664 | -€14,549 | -10.5% |
| Amounts payable after more than one year | 17 | €78,000 | €78,000 | = | 0.0% |
| Other amounts payable | 178/9 | €78,000 | €78,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,607 | €38,662 | -€15,946 | -29.2% |
| Trade debts | 44 | €286 | €6,167 | +€5,881 | +2059.2% |
| Suppliers | 440/4 | €286 | €6,167 | +€5,881 | +2059.2% |
| Taxes, remuneration and social security | 45 | €14,753 | €5,611 | -€9,142 | -62.0% |
| Taxes | 450/3 | €14,753 | €5,611 | -€9,142 | -62.0% |
| Other amounts payable | 47/48 | €39,569 | €26,884 | -€12,685 | -32.1% |
| Accrued charges and deferred income | 492/3 | €6,605 | €8,002 | +€1,397 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,324 | €13,667 | +€342 | +2.6% |
| Other operating charges | 640/8 | €940 | €1,504 | +€564 | +60.0% |
| Gross operating margin | 9900 | €118,957 | €130,080 | +€11,123 | +9.4% |
| Operating profit (loss) | 9901 | €104,692 | €114,909 | +€10,217 | +9.8% |
| Financial income | 75/76B | €1,586 | €0 | -€1,586 | -100.0% |
| Recurring financial income | 75 | €1,586 | €0 | -€1,586 | -100.0% |
| Financial charges | 65/66B | €10,047 | €9,546 | -€501 | -5.0% |
| Recurring financial charges | 65 | €10,047 | €9,546 | -€501 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €96,231 | €105,363 | +€9,132 | +9.5% |
| Income taxes | 67/77 | €21,988 | €24,013 | +€2,025 | +9.2% |
| Profit (loss) for the period | 9904 | €74,243 | €81,350 | +€7,107 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €74,243 | €81,350 | +€7,107 | +9.6% |
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 12 October 2026 via checked.be.