GEDEBODAK: 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.
GEDEBODAK
Largest movements
- Tangible fixed assets -€81,101
down €81,101 (-26.9%), from €301,119 to €220,018
- Receivables within one year +€53,553
up €53,553 (+113%), from €47,471 to €101,024
of which Trade receivables: +€56,764
- Cash -€40,350
down €40,350 (-27.1%), from €148,645 to €108,295
mainly Debts after one year (-€81,488) and Receivables within one year (-€53,553)
- Stocks and contracts -€31,647
down €31,647 (-38.2%), from €82,890 to €51,243
of which Contracts in progress: -€28,000
- Deferred charges and accrued income +€10,874
up €10,874 (+173%), from €6,295 to €17,169
- Debts after one year -€81,488
down €81,488 (-41.0%), from €198,900 to €117,412
of which Financial debts: -€61,488
- Tax, wage and social debts -€19,541
down €19,541 (-100%), from €19,541 to €0
of which Taxes: -€11,183
- Current portion of long-term debt +€10,581
up €10,581 (+14.9%), from €70,907 to €81,488
- Trade debts -€6,913
down €6,913 (-17.5%), from €39,453 to €32,540
- Gross operating margin -€162,180
down €162,180 (-53.2%), from €304,970 to €142,790
- Staff costs -€127,659
down €127,659 (-81.3%), from €157,110 to €29,451
- Taxes -€6,960
down €6,960 (-55.3%), from €12,578 to €5,618
- Depreciation -€4,884
down €4,884 (-5.1%), from €95,565 to €90,681
- Financial charges -€3,674
down €3,674 (-28.9%), from €12,720 to €9,046
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.
Derived cash bridge
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 | €586,690 | €498,020 | -€88,670 | -15.1% |
| Fixed assets | 21/28 | €301,389 | €220,288 | -€81,101 | -26.9% |
| Tangible fixed assets | 22/27 | €301,119 | €220,018 | -€81,101 | -26.9% |
| Land and buildings | 22 | €97,984 | €80,943 | -€17,041 | -17.4% |
| Plant, machinery and equipment | 23 | €26,444 | €19,819 | -€6,625 | -25.1% |
| Furniture and vehicles | 24 | €118,003 | €86,556 | -€31,447 | -26.6% |
| Leasing and similar rights | 25 | €58,034 | €32,700 | -€25,334 | -43.7% |
| Other tangible fixed assets | 26 | €654 | €0 | -€654 | -100% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €285,301 | €277,732 | -€7,569 | -2.7% |
| Stocks and contracts in progress | 3 | €82,890 | €51,243 | -€31,647 | -38.2% |
| Stocks | 30/36 | €54,890 | €51,243 | -€3,647 | -6.6% |
| Contracts in progress | 37 | €28,000 | €0 | -€28,000 | -100% |
| Amounts receivable within one year | 40/41 | €47,471 | €101,024 | +€53,553 | +113% |
| Trade receivables | 40 | €30,564 | €87,328 | +€56,764 | +186% |
| Other amounts receivable | 41 | €16,907 | €13,697 | -€3,210 | -19.0% |
| Cash at bank and in hand | 54/58 | €148,645 | €108,295 | -€40,350 | -27.1% |
| Deferred charges and accrued income | 490/1 | €6,295 | €17,169 | +€10,874 | +173% |
| Total equity and liabilities | 10/49 | €586,690 | €498,020 | -€88,670 | -15.1% |
| Equity | 10/15 | €255,426 | €260,272 | +€4,846 | +1.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €235,426 | €240,272 | +€4,846 | +2.1% |
| Tax-exempt reserves | 132 | €20,853 | €11,753 | -€9,100 | -43.6% |
| Distributable reserves | 133 | €214,573 | €228,520 | +€13,947 | +6.5% |
| Amounts payable | 17/49 | €331,264 | €237,747 | -€93,517 | -28.2% |
| Amounts payable after more than one year | 17 | €198,900 | €117,412 | -€81,488 | -41.0% |
| Financial debts | 170/4 | €178,900 | €117,412 | -€61,488 | -34.4% |
| Other amounts payable | 178/9 | €20,000 | - | -€20,000 | |
| Amounts payable within one year | 42/48 | €132,364 | €114,690 | -€17,674 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €70,907 | €81,488 | +€10,581 | +14.9% |
| Financial debts | 43 | €496 | - | -€496 | |
| Credit institutions | 430/8 | €496 | - | -€496 | |
| Trade debts | 44 | €39,453 | €32,540 | -€6,913 | -17.5% |
| Suppliers | 440/4 | €39,453 | €32,540 | -€6,913 | -17.5% |
| Taxes, remuneration and social security | 45 | €19,541 | €0 | -€19,541 | -100% |
| Taxes | 450/3 | €11,183 | €0 | -€11,183 | -100% |
| Remuneration and social security | 454/9 | €8,358 | €0 | -€8,358 | -100% |
| Other amounts payable | 47/48 | €1,967 | €662 | -€1,306 | -66.4% |
| Accrued charges and deferred income | 492/3 | - | €5,646 | +€5,646 | |
| Non-recurring operating income | 76A | €50,139 | - | -€50,139 | |
| Remuneration, social security and pensions | 62 | €157,110 | €29,451 | -€127,659 | -81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,565 | €90,681 | -€4,884 | -5.1% |
| Other operating charges | 640/8 | €4,577 | €3,459 | -€1,118 | -24.4% |
| Gross operating margin | 9900 | €304,970 | €142,790 | -€162,180 | -53.2% |
| Operating profit (loss) | 9901 | €47,718 | €19,199 | -€28,519 | -59.8% |
| Financial income | 75/76B | €927 | €312 | -€615 | -66.4% |
| Recurring financial income | 75 | €927 | €312 | -€615 | -66.4% |
| Financial charges | 65/66B | €12,720 | €9,046 | -€3,674 | -28.9% |
| Recurring financial charges | 65 | €12,720 | €9,046 | -€3,674 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €35,925 | €10,465 | -€25,460 | -70.9% |
| Income taxes | 67/77 | €12,578 | €5,618 | -€6,960 | -55.3% |
| Profit (loss) for the period | 9904 | €23,347 | €4,847 | -€18,500 | -79.2% |
| Transfer from tax-exempt reserves | 789 | €9,100 | €9,100 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,447 | €13,947 | -€18,500 | -57.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.