GEDENCO: 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.
GEDENCO
Largest movements
- Tangible fixed assets -€126,225
down €126,225 (-4.4%), from €2.9m to €2.8m
of which Land and buildings: -€126,225
- Debts after one year -€211,201
down €211,201 (-8.4%), from €2.5m to €2.3m
of which Financial debts: -€207,611
- Reserves +€30,405
up €30,405 (+24.9%), from €122,264 to €152,670
- Gross operating margin -€67,561
down €67,561 (-22.2%), from €304,227 to €236,666
- Taxes -€19,750
down €19,750 (-71.6%), from €27,600 to €7,850
- Financial charges -€5,011
down €5,011 (-8.9%), from €56,045 to €51,034
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 | €2,963,742 | €2,787,562 | -€176,179 | -5.9% |
| Fixed assets | 21/28 | €2,883,938 | €2,757,713 | -€126,225 | -4.4% |
| Tangible fixed assets | 22/27 | €2,883,938 | €2,757,713 | -€126,225 | -4.4% |
| Land and buildings | 22 | €2,883,938 | €2,757,713 | -€126,225 | -4.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €79,804 | €29,850 | -€49,954 | -62.6% |
| Amounts receivable within one year | 40/41 | €26,761 | €27 | -€26,734 | -99.9% |
| Trade receivables | 40 | €26,761 | - | -€26,761 | |
| Other amounts receivable | 41 | - | €27 | +€27 | |
| Cash at bank and in hand | 54/58 | €53,043 | €29,823 | -€23,220 | -43.8% |
| Total equity and liabilities | 10/49 | €2,963,742 | €2,787,562 | -€176,179 | -5.9% |
| Equity | 10/15 | €137,264 | €167,670 | +€30,405 | +22.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €122,264 | €152,670 | +€30,405 | +24.9% |
| Distributable reserves | 133 | €122,264 | €152,670 | +€30,405 | +24.9% |
| Amounts payable | 17/49 | €2,826,477 | €2,619,893 | -€206,585 | -7.3% |
| Amounts payable after more than one year | 17 | €2,524,586 | €2,313,384 | -€211,201 | -8.4% |
| Financial debts | 170/4 | €1,390,996 | €1,183,384 | -€207,611 | -14.9% |
| Other amounts payable | 178/9 | €1,133,590 | €1,130,000 | -€3,590 | -0.3% |
| Amounts payable within one year | 42/48 | €277,483 | €286,806 | +€9,322 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €205,352 | €207,611 | +€2,260 | +1.1% |
| Trade debts | 44 | €126 | €1,126 | +€1,000 | +794.0% |
| Suppliers | 440/4 | €126 | €1,126 | +€1,000 | +794.0% |
| Taxes, remuneration and social security | 45 | €22,006 | €28,068 | +€6,062 | +27.5% |
| Taxes | 450/3 | €18,281 | €13,977 | -€4,304 | -23.5% |
| Remuneration and social security | 454/9 | €3,725 | €14,091 | +€10,366 | +278.3% |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €24,408 | €19,702 | -€4,706 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,275 | €126,225 | -€50 | 0.0% |
| Other operating charges | 640/8 | €20,614 | €21,152 | +€538 | +2.6% |
| Gross operating margin | 9900 | €304,227 | €236,666 | -€67,561 | -22.2% |
| Operating profit (loss) | 9901 | €157,338 | €89,289 | -€68,049 | -43.3% |
| Financial income | 75/76B | €112 | - | -€112 | |
| Recurring financial income | 75 | €112 | - | -€112 | |
| Financial charges | 65/66B | €56,045 | €51,034 | -€5,011 | -8.9% |
| Recurring financial charges | 65 | €56,045 | €51,034 | -€5,011 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €101,404 | €38,255 | -€63,149 | -62.3% |
| Income taxes | 67/77 | €27,600 | €7,850 | -€19,750 | -71.6% |
| Profit (loss) for the period | 9904 | €73,804 | €30,405 | -€43,399 | -58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €73,804 | €30,405 | -€43,399 | -58.8% |
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 7 October 2026 via checked.be.