GeDiBo: 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.
GeDiBo
Largest movements
- Current investments +€1.2m
new in 2025: €1.2m
- Receivables within one year -€550,000
down €550,000 (-100.0%), from €550,077 to €77
- Tangible fixed assets -€340,382
down €340,382 (-18.0%), from €1.9m to €1.6m
of which Land and buildings: -€340,157
- Deferred charges and accrued income -€28,630
down €28,630 (-96.8%), from €29,565 to €935
- Reserves +€234,049
up €234,049 (+13.1%), from €1.8m to €2.0m
of which Tax-exempt reserves: +€215,604
- Provisions +€52,824
up €52,824 (+20.6%), from €257,042 to €309,866
- Gross operating margin +€398,597
up €398,597 (+323.6%), from €123,191 to €521,788
- Depreciation -€22,068
down €22,068 (-23.8%), from €92,695 to €70,628
- Taxes -€13,525
down €13,525 (-58.5%), from €23,138 to €9,612
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 | €2,506,290 | €2,780,291 | +€274,001 | +10.9% |
| Fixed assets | 21/28 | €1,891,575 | €1,551,193 | -€340,382 | -18.0% |
| Tangible fixed assets | 22/27 | €1,891,575 | €1,551,193 | -€340,382 | -18.0% |
| Land and buildings | 22 | €1,891,064 | €1,550,907 | -€340,157 | -18.0% |
| Plant, machinery and equipment | 23 | - | €286 | +€286 | |
| Furniture and vehicles | 24 | €511 | - | -€511 | |
| Current assets | 29/58 | €614,715 | €1,229,097 | +€614,383 | +99.9% |
| Amounts receivable within one year | 40/41 | €550,077 | €77 | -€550,000 | -100.0% |
| Other amounts receivable | 41 | €550,077 | €77 | -€550,000 | -100.0% |
| Current investments | 50/53 | - | €1,167,801 | +€1.2m | |
| Cash at bank and in hand | 54/58 | €35,073 | €60,285 | +€25,212 | +71.9% |
| Deferred charges and accrued income | 490/1 | €29,565 | €935 | -€28,630 | -96.8% |
| Total equity and liabilities | 10/49 | €2,506,290 | €2,780,291 | +€274,001 | +10.9% |
| Equity | 10/15 | €1,850,655 | €2,084,704 | +€234,049 | +12.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,788,655 | €2,022,704 | +€234,049 | +13.1% |
| Tax-exempt reserves | 132 | €517,937 | €733,541 | +€215,604 | +41.6% |
| Distributable reserves | 133 | €1,270,718 | €1,289,163 | +€18,445 | +1.5% |
| Provisions and deferred taxes | 16 | €257,042 | €309,866 | +€52,824 | +20.6% |
| Deferred taxes | 168 | €257,042 | €309,866 | +€52,824 | +20.6% |
| Amounts payable | 17/49 | €398,592 | €385,721 | -€12,872 | -3.2% |
| Amounts payable after more than one year | 17 | €330,000 | €330,000 | = | 0.0% |
| Financial debts | 170/4 | €330,000 | €330,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €63,614 | €47,255 | -€16,359 | -25.7% |
| Trade debts | 44 | €1,355 | €1,844 | +€489 | +36.1% |
| Suppliers | 440/4 | €1,355 | €1,844 | +€489 | +36.1% |
| Taxes, remuneration and social security | 45 | €27,425 | €23,797 | -€3,628 | -13.2% |
| Taxes | 450/3 | €27,425 | €23,797 | -€3,628 | -13.2% |
| Other amounts payable | 47/48 | €34,834 | €21,614 | -€13,221 | -38.0% |
| Accrued charges and deferred income | 492/3 | €4,978 | €8,466 | +€3,488 | +70.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,695 | €70,628 | -€22,068 | -23.8% |
| Other operating charges | 640/8 | €21,527 | €22,334 | +€807 | +3.7% |
| Non-recurring operating charges | 66A | - | €127,057 | +€127,057 | |
| Gross operating margin | 9900 | €123,191 | €521,788 | +€398,597 | +323.6% |
| Operating profit (loss) | 9901 | €8,968 | €301,770 | +€292,801 | +3264.8% |
| Financial income | 75/76B | €25,826 | €21,255 | -€4,571 | -17.7% |
| Recurring financial income | 75 | €25,826 | €21,255 | -€4,571 | -17.7% |
| Financial charges | 65/66B | €27,460 | €24,874 | -€2,587 | -9.4% |
| Recurring financial charges | 65 | €27,460 | €24,874 | -€2,587 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €7,334 | €298,151 | +€290,817 | +3965.2% |
| Transfer from deferred taxes | 780 | €21,464 | €54,002 | +€32,538 | +151.6% |
| Transfer to deferred taxes | 680 | - | €106,826 | +€106,826 | |
| Income taxes | 67/77 | €23,138 | €9,612 | -€13,525 | -58.5% |
| Profit (loss) for the period | 9904 | €5,661 | €235,715 | +€230,054 | +4064.0% |
| Transfer from tax-exempt reserves | 789 | €41,684 | €104,874 | +€63,189 | +151.6% |
| Transfer to tax-exempt reserves | 689 | - | €320,477 | +€320,477 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,345 | €20,111 | -€27,234 | -57.5% |
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 6 October 2026 via checked.be.