GEDEQU: 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.
What changed
GEDEQU
NACE 55.300, Accommodation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€276,809
2024 · €295,790-€18,981
Equity
€3.6m
2024 · €3.5m+€122,725
Cash
€264,327
2024 · €233,731+€30,596
Balance sheet total
€4.1m
2024 · €4.1m+€15,766
Largest movements
Assets
- Tangible fixed assets -€77,420
down €77,420 (-3.2%), from €2.5m to €2.4m
- Current investments +€61,130
up €61,130 (+4.5%), from €1.4m to €1.4m
Equity and liabilities
- Reserves +€122,725
up €122,725 (+6.4%), from €1.9m to €2.0m
of which Distributable reserves: +€122,725
- Other debts -€51,771
down €51,771 (-24.7%), from €209,402 to €157,631
- Debts after one year -€43,488
down €43,488 (-16.1%), from €270,907 to €227,419
of which Other amounts payable: -€43,488
Income statement
- Staff costs +€30,963
up €30,963 (+97.1%), from €31,884 to €62,847
- Gross operating margin +€11,169
up €11,169 (+1.6%), from €682,055 to €693,223
- Taxes -€9,274
down €9,274 (-7.1%), from €131,304 to €122,030
- Financial charges -€7,599
down €7,599 (-49.3%), from €15,415 to €7,816
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.
Result 2024
€295,790
Gross operating margin
+€11,169
Staff costs
-€30,963
Depreciation
-€6,660
Other operating charges
-€3,800
Financial income
-€5,600
Financial charges
+€7,599
Taxes
+€9,274
Result 2025
€276,809
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.
From operations
+€344,679
Investment
-€116,511
Financing
-€197,572
Cash 2024
€233,731
From operations (derived)
+€344,679
Net result for the year
+€276,809
Depreciation
+€132,801
Receivables within one year
+€1,955
Deferred charges and accrued income
-€3,415
Trade debts
+€4,223
Tax, wage and social debts
-€10,172
Advances received
-€650
Other debts
-€51,771
Accrued charges and deferred income
-€5,100
Investment (derived)
-€116,511
Investment in fixed assets (net)
-€55,382
Current investments
-€61,130
Financing
-€197,572
Debts after one year
-€43,488
Contributions, distributions and other
-€154,084
Cash 2025
€264,327
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,067,227 | €4,082,993 | +€15,766 | +0.4% |
| Fixed assets | 21/28 | €2,454,439 | €2,377,020 | -€77,420 | -3.2% |
| Tangible fixed assets | 22/27 | €2,454,334 | €2,376,915 | -€77,420 | -3.2% |
| Land and buildings | 22 | €2,110,510 | €2,081,768 | -€28,743 | -1.4% |
| Plant, machinery and equipment | 23 | €323,501 | €287,233 | -€36,267 | -11.2% |
| Furniture and vehicles | 24 | €20,323 | €7,914 | -€12,409 | -61.1% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €1,612,788 | €1,705,973 | +€93,186 | +5.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €8,932 | €6,978 | -€1,955 | -21.9% |
| Trade receivables | 40 | €2,714 | €3,144 | +€430 | +15.8% |
| Other amounts receivable | 41 | €6,218 | €3,834 | -€2,384 | -38.3% |
| Current investments | 50/53 | €1,358,192 | €1,419,322 | +€61,130 | +4.5% |
| Cash at bank and in hand | 54/58 | €233,731 | €264,327 | +€30,596 | +13.1% |
| Deferred charges and accrued income | 490/1 | €11,932 | €15,347 | +€3,415 | +28.6% |
| Total equity and liabilities | 10/49 | €4,067,227 | €4,082,993 | +€15,766 | +0.4% |
| Equity | 10/15 | €3,458,915 | €3,581,640 | +€122,725 | +3.5% |
| Contributions | 10/11 | €1,533,765 | €1,533,765 | = | 0.0% |
| Reserves | 13 | €1,925,150 | €2,047,875 | +€122,725 | +6.4% |
| Non-distributable reserves | 130/1 | €7,896 | €7,896 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,896 | €7,896 | = | 0.0% |
| Distributable reserves | 133 | €1,917,253 | €2,039,978 | +€122,725 | +6.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €608,312 | €501,353 | -€106,959 | -17.6% |
| Amounts payable after more than one year | 17 | €270,907 | €227,419 | -€43,488 | -16.1% |
| Financial debts | 170/4 | €36,133 | €36,133 | = | 0.0% |
| Other amounts payable | 178/9 | €234,774 | €191,286 | -€43,488 | -18.5% |
| Amounts payable within one year | 42/48 | €322,138 | €263,767 | -€58,371 | -18.1% |
| Trade debts | 44 | €8,317 | €12,540 | +€4,223 | +50.8% |
| Suppliers | 440/4 | €8,317 | €12,540 | +€4,223 | +50.8% |
| Advances received on contracts in progress | 46 | €650 | €0 | -€650 | -100.0% |
| Taxes, remuneration and social security | 45 | €103,769 | €93,597 | -€10,172 | -9.8% |
| Taxes | 450/3 | €101,946 | €77,649 | -€24,297 | -23.8% |
| Remuneration and social security | 454/9 | €1,823 | €15,948 | +€14,125 | +774.6% |
| Other amounts payable | 47/48 | €209,402 | €157,631 | -€51,771 | -24.7% |
| Accrued charges and deferred income | 492/3 | €15,268 | €10,167 | -€5,100 | -33.4% |
| Non-recurring operating income | 76A | €0 | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €31,884 | €62,847 | +€30,963 | +97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,142 | €132,801 | +€6,660 | +5.3% |
| Other operating charges | 640/8 | €113,019 | €116,819 | +€3,800 | +3.4% |
| Gross operating margin | 9900 | €682,055 | €693,223 | +€11,169 | +1.6% |
| Operating profit (loss) | 9901 | €411,010 | €380,756 | -€30,254 | -7.4% |
| Financial income | 75/76B | €31,498 | €25,898 | -€5,600 | -17.8% |
| Recurring financial income | 75 | €31,498 | €25,898 | -€5,600 | -17.8% |
| Financial charges | 65/66B | €15,415 | €7,816 | -€7,599 | -49.3% |
| Recurring financial charges | 65 | €15,415 | €7,816 | -€7,599 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | €427,094 | €398,839 | -€28,255 | -6.6% |
| Income taxes | 67/77 | €131,304 | €122,030 | -€9,274 | -7.1% |
| Profit (loss) for the period | 9904 | €295,790 | €276,809 | -€18,981 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €295,790 | €276,809 | -€18,981 | -6.4% |
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 8 October 2026 via checked.be.