GEDINAM: 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.
GEDINAM
Largest movements
- Cash -€209,052
down €209,052 (-23.1%), from €905,356 to €696,304
mainly Contributions, distributions and other (-€2.4m) and Other debts (-€550,243)
- Receivables within one year -€87,374
down €87,374 (-19.8%), from €441,585 to €354,211
of which Other amounts receivable: -€44,201
- Tangible fixed assets -€18,331
down €18,331 (-15.4%), from €119,237 to €100,906
of which Furniture and vehicles: -€11,534
- Other debts -€550,243
down €550,243 (-45.3%), from €1.2m to €664,369
- Profit (loss) carried forward +€181,488
up €181,488 (+1,614%), from €11,245 to €192,733
- Tax, wage and social debts +€59,801
up €59,801 (+135%), from €44,454 to €104,255
of which Taxes: +€63,608
- Taxes +€65,524
up €65,524 (+2,473%), from €2,650 to €68,174
- Gross operating margin -€59,410
down €59,410 (-2.0%), from €3.0m to €2.9m
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 | €1,487,753 | €1,181,627 | -€306,127 | -20.6% |
| Fixed assets | 21/28 | €119,422 | €106,401 | -€13,022 | -10.9% |
| Intangible fixed assets | 21 | - | €5,310 | +€5,310 | |
| Tangible fixed assets | 22/27 | €119,237 | €100,906 | -€18,331 | -15.4% |
| Land and buildings | 22 | €72,725 | €65,928 | -€6,797 | -9.3% |
| Furniture and vehicles | 24 | €46,512 | €34,978 | -€11,534 | -24.8% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €1,368,331 | €1,075,226 | -€293,105 | -21.4% |
| Stocks and contracts in progress | 3 | €21,390 | €24,710 | +€3,321 | +15.5% |
| Stocks | 30/36 | €21,390 | €24,710 | +€3,321 | +15.5% |
| Amounts receivable within one year | 40/41 | €441,585 | €354,211 | -€87,374 | -19.8% |
| Trade receivables | 40 | €363,769 | €320,597 | -€43,173 | -11.9% |
| Other amounts receivable | 41 | €77,816 | €33,615 | -€44,201 | -56.8% |
| Cash at bank and in hand | 54/58 | €905,356 | €696,304 | -€209,052 | -23.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,487,753 | €1,181,627 | -€306,127 | -20.6% |
| Equity | 10/15 | €187,347 | €372,835 | +€185,488 | +99.0% |
| Contributions | 10/11 | €173,777 | €177,777 | +€4,000 | +2.3% |
| Reserves | 13 | €2,325 | €2,325 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,325 | €2,325 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,325 | €2,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,245 | €192,733 | +€181,488 | +1,614% |
| Amounts payable | 17/49 | €1,300,406 | €808,792 | -€491,614 | -37.8% |
| Amounts payable within one year | 42/48 | €1,272,957 | €788,535 | -€484,422 | -38.1% |
| Trade debts | 44 | €13,892 | €19,911 | +€6,019 | +43.3% |
| Suppliers | 440/4 | €13,892 | €19,911 | +€6,019 | +43.3% |
| Taxes, remuneration and social security | 45 | €44,454 | €104,255 | +€59,801 | +135% |
| Taxes | 450/3 | €4,041 | €67,649 | +€63,608 | +1,574% |
| Remuneration and social security | 454/9 | €40,413 | €36,606 | -€3,807 | -9.4% |
| Other amounts payable | 47/48 | €1,214,612 | €664,369 | -€550,243 | -45.3% |
| Accrued charges and deferred income | 492/3 | €27,449 | €20,257 | -€7,192 | -26.2% |
| Non-recurring operating income | 76A | €12,500 | €231,026 | +€218,526 | +1,748% |
| Remuneration, social security and pensions | 62 | €292,969 | €294,741 | +€1,772 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,271 | €18,514 | +€243 | +1.3% |
| Other operating charges | 640/8 | €13,022 | €8,031 | -€4,992 | -38.3% |
| Gross operating margin | 9900 | €2,994,080 | €2,934,670 | -€59,410 | -2.0% |
| Operating profit (loss) | 9901 | €2,669,817 | €2,613,384 | -€56,434 | -2.1% |
| Financial income | 75/76B | €8,723 | €3,379 | -€5,344 | -61.3% |
| Recurring financial income | 75 | €8,723 | €3,379 | -€5,344 | -61.3% |
| Financial charges | 65/66B | €564 | €532 | -€33 | -5.8% |
| Recurring financial charges | 65 | €564 | €532 | -€33 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €2,677,976 | €2,616,231 | -€61,745 | -2.3% |
| Income taxes | 67/77 | €2,650 | €68,174 | +€65,524 | +2,473% |
| Profit (loss) for the period | 9904 | €2,675,326 | €2,548,057 | -€127,269 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,675,326 | €2,548,057 | -€127,269 | -4.8% |
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 14 October 2026 via checked.be.