GEDUO: 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.
GEDUO
Largest movements
- Tangible fixed assets +€60,295
up €60,295 (+3.6%), from €1.7m to €1.7m
- Cash -€21,086
down €21,086 (-60.1%), from €35,095 to €14,009
mainly Investment in fixed assets (net) (-€107,522) and Net result for the year (-€40,796)
- Other debts +€82,480
up €82,480 (+7.9%), from €1.0m to €1.1m
- Profit (loss) carried forward -€27,657
down €27,657 (-23.2%), from -€119,150 to -€146,808
- Gross operating margin +€13,396
up €13,396, from -€9,278 to €4,119
- Depreciation -€2,106
down €2,106 (-4.3%), from €49,332 to €47,226
- Taxes -€191
new in 2025: -€191
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 | €1,703,874 | €1,743,090 | +€39,215 | +2.3% |
| Fixed assets | 21/28 | €1,667,969 | €1,728,264 | +€60,295 | +3.6% |
| Tangible fixed assets | 22/27 | €1,667,969 | €1,728,264 | +€60,295 | +3.6% |
| Land and buildings | 22 | €1,667,969 | €1,728,264 | +€60,295 | +3.6% |
| Current assets | 29/58 | €35,906 | €14,825 | -€21,080 | -58.7% |
| Cash at bank and in hand | 54/58 | €35,095 | €14,009 | -€21,086 | -60.1% |
| Deferred charges and accrued income | 490/1 | €810 | €816 | +€6 | +0.7% |
| Total equity and liabilities | 10/49 | €1,703,874 | €1,743,090 | +€39,215 | +2.3% |
| Equity | 10/15 | €561,991 | €521,195 | -€40,796 | -7.3% |
| Contributions | 10/11 | €260,000 | €260,000 | = | 0.0% |
| Capital | 10 | €260,000 | €260,000 | = | 0.0% |
| Issued capital | 100 | €260,000 | €260,000 | = | 0.0% |
| Reserves | 13 | €421,141 | €408,002 | -€13,139 | -3.1% |
| Non-distributable reserves | 130/1 | €26,000 | €26,000 | = | 0.0% |
| Legal reserve | 130 | €26,000 | €26,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €395,141 | €382,002 | -€13,139 | -3.3% |
| Profit (loss) carried forward | 14 | -€119,150 | -€146,808 | -€27,657 | -23.2% |
| Provisions and deferred taxes | 16 | €98,785 | €95,501 | -€3,285 | -3.3% |
| Deferred taxes | 168 | €98,785 | €95,501 | -€3,285 | -3.3% |
| Amounts payable | 17/49 | €1,043,098 | €1,126,394 | +€83,296 | +8.0% |
| Amounts payable within one year | 42/48 | €1,043,098 | €1,126,394 | +€83,296 | +8.0% |
| Trade debts | 44 | - | €816 | +€816 | |
| Suppliers | 440/4 | - | €816 | +€816 | |
| Other amounts payable | 47/48 | €1,043,098 | €1,125,578 | +€82,480 | +7.9% |
| Non-recurring operating income | 76A | - | €7,968 | +€7,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,332 | €47,226 | -€2,106 | -4.3% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | -€9,278 | €4,119 | +€13,396 | |
| Operating profit (loss) | 9901 | -€59,639 | -€44,168 | +€15,472 | +25.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €46 | €104 | +€58 | +125.4% |
| Recurring financial charges | 65 | €46 | €104 | +€58 | +125.4% |
| Profit (loss) for the period before taxes | 9903 | -€59,686 | -€44,272 | +€15,413 | +25.8% |
| Transfer from deferred taxes | 780 | €3,285 | €3,285 | = | 0.0% |
| Income taxes | 67/77 | - | -€191 | -€191 | |
| Profit (loss) for the period | 9904 | -€56,401 | -€40,796 | +€15,605 | +27.7% |
| Transfer from tax-exempt reserves | 789 | €13,139 | €13,139 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,262 | -€27,657 | +€15,605 | +36.1% |
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 4 October 2026 via checked.be.