GEDECON: 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.
GEDECON
Largest movements
- Cash +€116,006
up €116,006 (+568%), from €20,407 to €136,413
mainly Net result for the year (+€154,585) and Depreciation (+€22,117)
- Tangible fixed assets -€22,117
down €22,117 (-27.9%), from €79,345 to €57,229
of which Furniture and vehicles: -€13,488
- Receivables within one year +€16,434
up €16,434 (+64.5%), from €25,470 to €41,904
- Reserves +€107,576
up €107,576 (+48.9%), from €220,180 to €327,756
- Tax, wage and social debts +€7,179
up €7,179 (+29.9%), from €24,036 to €31,215
- Trade debts -€4,823
down €4,823 (-94.8%), from €5,087 to €264
- Gross operating margin +€113,435
up €113,435 (+101%), from €112,786 to €226,221
- Taxes +€21,080
up €21,080 (+81.7%), from €25,788 to €46,868
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 | €275,222 | €386,422 | +€111,200 | +40.4% |
| Fixed assets | 21/28 | €79,345 | €57,229 | -€22,117 | -27.9% |
| Tangible fixed assets | 22/27 | €79,345 | €57,229 | -€22,117 | -27.9% |
| Land and buildings | 22 | €22,845 | €20,645 | -€2,200 | -9.6% |
| Plant, machinery and equipment | 23 | €14,929 | €8,500 | -€6,429 | -43.1% |
| Furniture and vehicles | 24 | €41,571 | €28,084 | -€13,488 | -32.4% |
| Current assets | 29/58 | €195,877 | €329,193 | +€133,317 | +68.1% |
| Amounts receivable within one year | 40/41 | €25,470 | €41,904 | +€16,434 | +64.5% |
| Trade receivables | 40 | €25,470 | €41,904 | +€16,434 | +64.5% |
| Current investments | 50/53 | €150,000 | €150,877 | +€877 | +0.6% |
| Cash at bank and in hand | 54/58 | €20,407 | €136,413 | +€116,006 | +568% |
| Total equity and liabilities | 10/49 | €275,222 | €386,422 | +€111,200 | +40.4% |
| Equity | 10/15 | €220,680 | €328,256 | +€107,576 | +48.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €220,180 | €327,756 | +€107,576 | +48.9% |
| Distributable reserves | 133 | €220,180 | €327,756 | +€107,576 | +48.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €54,542 | €58,166 | +€3,624 | +6.6% |
| Amounts payable within one year | 42/48 | €54,542 | €58,166 | +€3,624 | +6.6% |
| Financial debts | 43 | - | €2,852 | +€2,852 | |
| Credit institutions | 430/8 | - | €2,852 | +€2,852 | |
| Trade debts | 44 | €5,087 | €264 | -€4,823 | -94.8% |
| Suppliers | 440/4 | €5,087 | €264 | -€4,823 | -94.8% |
| Taxes, remuneration and social security | 45 | €24,036 | €31,215 | +€7,179 | +29.9% |
| Taxes | 450/3 | €24,036 | €31,215 | +€7,179 | +29.9% |
| Other amounts payable | 47/48 | €25,419 | €23,835 | -€1,585 | -6.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,178 | €22,117 | -€61 | -0.3% |
| Other operating charges | 640/8 | €2,558 | €2,120 | -€438 | -17.1% |
| Gross operating margin | 9900 | €112,786 | €226,221 | +€113,435 | +101% |
| Operating profit (loss) | 9901 | €88,050 | €201,984 | +€113,935 | +129% |
| Financial income | 75/76B | €2,078 | €1,252 | -€826 | -39.8% |
| Recurring financial income | 75 | €2,078 | €1,252 | -€826 | -39.8% |
| Financial charges | 65/66B | €1,839 | €1,784 | -€54 | -3.0% |
| Recurring financial charges | 65 | €1,839 | €1,784 | -€54 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €88,290 | €201,453 | +€113,163 | +128% |
| Income taxes | 67/77 | €25,788 | €46,868 | +€21,080 | +81.7% |
| Profit (loss) for the period | 9904 | €62,502 | €154,585 | +€92,083 | +147% |
| Profit (loss) for the period to be appropriated | 9905 | €62,502 | €154,585 | +€92,083 | +147% |
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 23 October 2026 via checked.be.