GEDECE: 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.
GEDECE
Largest movements
- Cash +€78,240
up €78,240 (+54.9%), from €142,539 to €220,778
mainly Depreciation (+€95,681) and Net result for the year (+€83,027)
- Tangible fixed assets +€35,873
up €35,873 (+8.9%), from €401,282 to €437,155
of which Furniture and vehicles: +€44,598
- Receivables within one year -€31,753
down €31,753 (-18.1%), from €175,246 to €143,493
of which Trade receivables: -€30,027
- Reserves +€81,361
up €81,361 (+14.6%), from €557,193 to €638,554
of which Distributable reserves: +€81,361
- Trade debts +€37,696
up €37,696 (+188.6%), from €19,992 to €57,687
- Debts after one year -€21,397
down €21,397 (-55.1%), from €38,825 to €17,428
- Other debts -€9,105
down €9,105 (-58.7%), from €15,510 to €6,405
- Gross operating margin +€55,550
up €55,550 (+12.7%), from €436,645 to €492,196
- Taxes +€13,629
up €13,629 (+58.4%), from €23,333 to €36,962
- Staff costs +€6,022
up €6,022 (+2.3%), from €262,511 to €268,533
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 | €728,833 | €811,132 | +€82,298 | +11.3% |
| Fixed assets | 21/28 | €403,727 | €439,600 | +€35,873 | +8.9% |
| Tangible fixed assets | 22/27 | €401,282 | €437,155 | +€35,873 | +8.9% |
| Land and buildings | 22 | €64,641 | €72,255 | +€7,615 | +11.8% |
| Plant, machinery and equipment | 23 | €14,335 | €9,098 | -€5,236 | -36.5% |
| Furniture and vehicles | 24 | €173,424 | €218,022 | +€44,598 | +25.7% |
| Leasing and similar rights | 25 | €1,384 | - | -€1,384 | |
| Other tangible fixed assets | 26 | €147,499 | €137,779 | -€9,720 | -6.6% |
| Financial fixed assets | 28 | €2,445 | €2,445 | = | 0.0% |
| Current assets | 29/58 | €325,106 | €371,532 | +€46,426 | +14.3% |
| Amounts receivable within one year | 40/41 | €175,246 | €143,493 | -€31,753 | -18.1% |
| Trade receivables | 40 | €172,785 | €142,759 | -€30,027 | -17.4% |
| Other amounts receivable | 41 | €2,461 | €734 | -€1,726 | -70.2% |
| Cash at bank and in hand | 54/58 | €142,539 | €220,778 | +€78,240 | +54.9% |
| Deferred charges and accrued income | 490/1 | €7,321 | €7,260 | -€61 | -0.8% |
| Total equity and liabilities | 10/49 | €728,833 | €811,132 | +€82,298 | +11.3% |
| Equity | 10/15 | €594,393 | €675,754 | +€81,361 | +13.7% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €557,193 | €638,554 | +€81,361 | +14.6% |
| Tax-exempt reserves | 132 | €309,861 | €309,861 | = | 0.0% |
| Distributable reserves | 133 | €247,332 | €328,693 | +€81,361 | +32.9% |
| Amounts payable | 17/49 | €134,440 | €135,378 | +€937 | +0.7% |
| Amounts payable after more than one year | 17 | €38,825 | €17,428 | -€21,397 | -55.1% |
| Financial debts | 170/4 | €38,825 | €17,428 | -€21,397 | -55.1% |
| Amounts payable within one year | 42/48 | €95,615 | €117,949 | +€22,334 | +23.4% |
| Current portion of amounts payable after more than one year | 42 | €21,851 | €21,397 | -€454 | -2.1% |
| Trade debts | 44 | €19,992 | €57,687 | +€37,696 | +188.6% |
| Suppliers | 440/4 | €19,992 | €57,687 | +€37,696 | +188.6% |
| Taxes, remuneration and social security | 45 | €38,262 | €32,460 | -€5,802 | -15.2% |
| Taxes | 450/3 | €21,354 | €14,950 | -€6,404 | -30.0% |
| Remuneration and social security | 454/9 | €16,909 | €17,510 | +€601 | +3.6% |
| Other amounts payable | 47/48 | €15,510 | €6,405 | -€9,105 | -58.7% |
| Remuneration, social security and pensions | 62 | €262,511 | €268,533 | +€6,022 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,065 | €95,681 | +€1,616 | +1.7% |
| Other operating charges | 640/8 | €4,089 | €5,484 | +€1,395 | +34.1% |
| Gross operating margin | 9900 | €436,645 | €492,196 | +€55,550 | +12.7% |
| Operating profit (loss) | 9901 | €75,980 | €122,498 | +€46,518 | +61.2% |
| Financial income | 75/76B | €0 | €12 | +€12 | +6070.0% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +6070.0% |
| Financial charges | 65/66B | €2,868 | €2,522 | -€347 | -12.1% |
| Recurring financial charges | 65 | €2,868 | €2,522 | -€347 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €73,112 | €119,989 | +€46,877 | +64.1% |
| Income taxes | 67/77 | €23,333 | €36,962 | +€13,629 | +58.4% |
| Profit (loss) for the period | 9904 | €49,779 | €83,027 | +€33,249 | +66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,779 | €83,027 | +€33,249 | +66.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.