GEDO: 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.
GEDO
Largest movements
- Cash +€132,565
up €132,565 (+27.2%), from €488,063 to €620,629
mainly Net result for the year (+€166,733) and Trade debts (+€34,771)
- Receivables within one year +€51,212
up €51,212 (+31.8%), from €160,928 to €212,140
of which Trade receivables: +€59,540
- Reserves +€166,733
up €166,733 (+30.0%), from €554,903 to €721,636
- Trade debts +€34,771
up €34,771 (+869.7%), from €3,998 to €38,769
- Debts after one year -€19,333
down €19,333 (-14.6%), from €132,110 to €112,777
- Gross operating margin -€69,423
down €69,423 (-16.5%), from €419,523 to €350,100
- Staff costs -€43,116
down €43,116 (-35.3%), from €122,247 to €79,131
- Taxes -€11,620
down €11,620 (-14.5%), from €80,221 to €68,601
- Financial income +€7,223
up €7,223 (+170.0%), from €4,250 to €11,472
- Other operating charges +€6,060
up €6,060 (+207.5%), from €2,920 to €8,980
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 | €1,259,081 | €1,449,413 | +€190,332 | +15.1% |
| Fixed assets | 21/28 | €295,217 | €302,570 | +€7,354 | +2.5% |
| Tangible fixed assets | 22/27 | €295,217 | €302,570 | +€7,354 | +2.5% |
| Land and buildings | 22 | €259,946 | €241,984 | -€17,962 | -6.9% |
| Plant, machinery and equipment | 23 | €739 | €345 | -€394 | -53.4% |
| Furniture and vehicles | 24 | €34,532 | €60,242 | +€25,710 | +74.5% |
| Current assets | 29/58 | €963,864 | €1,146,843 | +€182,978 | +19.0% |
| Amounts receivable within one year | 40/41 | €160,928 | €212,140 | +€51,212 | +31.8% |
| Trade receivables | 40 | €147,327 | €206,868 | +€59,540 | +40.4% |
| Other amounts receivable | 41 | €13,601 | €5,272 | -€8,329 | -61.2% |
| Current investments | 50/53 | €302,711 | €310,392 | +€7,681 | +2.5% |
| Cash at bank and in hand | 54/58 | €488,063 | €620,629 | +€132,565 | +27.2% |
| Deferred charges and accrued income | 490/1 | €12,162 | €3,682 | -€8,480 | -69.7% |
| Total equity and liabilities | 10/49 | €1,259,081 | €1,449,413 | +€190,332 | +15.1% |
| Equity | 10/15 | €1,048,599 | €1,215,332 | +€166,733 | +15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €554,903 | €721,636 | +€166,733 | +30.0% |
| Distributable reserves | 133 | €554,903 | €721,636 | +€166,733 | +30.0% |
| Profit (loss) carried forward | 14 | €475,096 | €475,096 | = | 0.0% |
| Amounts payable | 17/49 | €210,482 | €234,081 | +€23,599 | +11.2% |
| Amounts payable after more than one year | 17 | €132,110 | €112,777 | -€19,333 | -14.6% |
| Financial debts | 170/4 | €132,110 | €112,777 | -€19,333 | -14.6% |
| Amounts payable within one year | 42/48 | €78,372 | €120,276 | +€41,904 | +53.5% |
| Current portion of amounts payable after more than one year | 42 | €19,333 | €19,333 | = | 0.0% |
| Financial debts | 43 | €15,000 | €15,000 | = | 0.0% |
| Credit institutions | 430/8 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €3,998 | €38,769 | +€34,771 | +869.7% |
| Suppliers | 440/4 | €3,998 | €38,769 | +€34,771 | +869.7% |
| Taxes, remuneration and social security | 45 | €3,639 | €10,761 | +€7,123 | +195.7% |
| Taxes | 450/3 | €0 | €5,309 | +€5,309 | |
| Remuneration and social security | 454/9 | €3,639 | €5,453 | +€1,814 | +49.8% |
| Other amounts payable | 47/48 | €36,402 | €36,412 | +€10 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,029 | +€1,029 | |
| Remuneration, social security and pensions | 62 | €122,247 | €79,131 | -€43,116 | -35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,235 | €32,964 | +€5,729 | +21.0% |
| Other operating charges | 640/8 | €2,920 | €8,980 | +€6,060 | +207.5% |
| Gross operating margin | 9900 | €419,523 | €350,100 | -€69,423 | -16.5% |
| Operating profit (loss) | 9901 | €267,121 | €229,024 | -€38,097 | -14.3% |
| Financial income | 75/76B | €4,250 | €11,472 | +€7,223 | +170.0% |
| Recurring financial income | 75 | €4,250 | €11,472 | +€7,223 | +170.0% |
| Financial charges | 65/66B | €5,225 | €5,163 | -€62 | -1.2% |
| Recurring financial charges | 65 | €5,225 | €5,163 | -€62 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €266,146 | €235,334 | -€30,812 | -11.6% |
| Income taxes | 67/77 | €80,221 | €68,601 | -€11,620 | -14.5% |
| Profit (loss) for the period | 9904 | €185,925 | €166,733 | -€19,192 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €185,925 | €166,733 | -€19,192 | -10.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.