GEDEM: what changed
Two fiscal 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.
GEDEM
Largest movements
- Cash +€29,206
up €29,206 (+23.9%), from €122,183 to €151,389
mainly Depreciation (+€12,257) and Receivables within one year (+€8,655)
- Tangible fixed assets -€12,257
down €12,257 (-13.9%), from €88,273 to €76,016
of which Land and buildings: -€12,051
- Receivables within one year -€8,655
down €8,655 (-23.7%), from €36,466 to €27,811
of which Trade receivables: -€20,000
- Financial fixed assets -€5,420
down €5,420 (-86.5%), from €6,266 to €847
- Provisions +€6,942
up €6,942 (+13.5%), from €51,606 to €58,549
- Profit (loss) carried forward -€2,779
down €2,779 (-2.2%), from €127,958 to €125,179
- Gross operating margin +€5,868
up €5,868 (+28.2%), from €20,773 to €26,641
- Financial charges +€5,734
up €5,734 (+27306.6%), from €21 to €5,755
of which Non-recurring financial charges: +€5,726
- Provisions +€2,678
up €2,678 (+62.8%), from €4,264 to €6,942
- Taxes +€312
no longer reported in 2025 (was -€312)
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 | €254,210 | €256,063 | +€1,853 | +0.7% |
| Fixed assets | 21/28 | €94,539 | €76,863 | -€17,676 | -18.7% |
| Tangible fixed assets | 22/27 | €88,273 | €76,016 | -€12,257 | -13.9% |
| Land and buildings | 22 | €87,093 | €75,043 | -€12,051 | -13.8% |
| Plant, machinery and equipment | 23 | €1,180 | €974 | -€206 | -17.5% |
| Financial fixed assets | 28 | €6,266 | €847 | -€5,420 | -86.5% |
| Current assets | 29/58 | €159,671 | €179,200 | +€19,529 | +12.2% |
| Amounts receivable within one year | 40/41 | €36,466 | €27,811 | -€8,655 | -23.7% |
| Trade receivables | 40 | €20,507 | €507 | -€20,000 | -97.5% |
| Other amounts receivable | 41 | €15,959 | €27,304 | +€11,345 | +71.1% |
| Cash at bank and in hand | 54/58 | €122,183 | €151,389 | +€29,206 | +23.9% |
| Deferred charges and accrued income | 490/1 | €1,021 | - | -€1,021 | |
| Total equity and liabilities | 10/49 | €254,210 | €256,063 | +€1,853 | +0.7% |
| Equity | 10/15 | €196,158 | €193,379 | -€2,779 | -1.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,958 | €125,179 | -€2,779 | -2.2% |
| Provisions and deferred taxes | 16 | €51,606 | €58,549 | +€6,942 | +13.5% |
| Provisions for liabilities and charges | 160/5 | €51,606 | €58,549 | +€6,942 | +13.5% |
| Major repairs and maintenance | 162 | €51,606 | €58,549 | +€6,942 | +13.5% |
| Amounts payable | 17/49 | €6,446 | €4,135 | -€2,311 | -35.8% |
| Amounts payable within one year | 42/48 | €5,622 | €3,290 | -€2,332 | -41.5% |
| Trade debts | 44 | €4,266 | €3,290 | -€976 | -22.9% |
| Suppliers | 440/4 | €4,266 | €3,290 | -€976 | -22.9% |
| Taxes, remuneration and social security | 45 | €1,356 | - | -€1,356 | |
| Taxes | 450/3 | €1,356 | - | -€1,356 | |
| Accrued charges and deferred income | 492/3 | €824 | €845 | +€21 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,315 | €12,257 | -€58 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,264 | €6,942 | +€2,678 | +62.8% |
| Other operating charges | 640/8 | €4,868 | €5,019 | +€151 | +3.1% |
| Gross operating margin | 9900 | €20,773 | €26,641 | +€5,868 | +28.2% |
| Operating profit (loss) | 9901 | -€674 | €2,422 | +€3,096 | |
| Financial income | 75/76B | €448 | €555 | +€107 | +23.8% |
| Recurring financial income | 75 | €448 | €555 | +€107 | +23.8% |
| Financial charges | 65/66B | €21 | €5,755 | +€5,734 | +27306.6% |
| Recurring financial charges | 65 | €21 | €29 | +€8 | +39.8% |
| Non-recurring financial charges | 66B | - | €5,726 | +€5,726 | |
| Profit (loss) for the period before taxes | 9903 | -€247 | -€2,779 | -€2,531 | -1024.1% |
| Income taxes | 67/77 | -€312 | - | +€312 | |
| Profit (loss) for the period | 9904 | €65 | -€2,779 | -€2,844 | |
| Profit (loss) for the period to be appropriated | 9905 | €65 | -€2,779 | -€2,844 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.