GEE: 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
GEE
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€90,385
2024 · €53,340+€37,045
Equity
€288,601
2024 · €229,644+€58,957
Cash
€269,701
2024 · €268,627+€1,073
Balance sheet total
€889,468
2024 · €866,481+€22,988
Largest movements
Assets
- Deferred charges and accrued income +€15,983
up €15,983 (+925.0%), from €1,728 to €17,711
- Receivables within one year +€10,545
up €10,545 (+7.3%), from €144,684 to €155,229
of which Trade receivables: +€26,020
Equity and liabilities
- Reserves +€58,957
up €58,957 (+29.6%), from €199,488 to €258,444
of which Distributable reserves: +€58,957
- Debts after one year -€43,913
down €43,913 (-34.1%), from €128,794 to €84,881
- Tax, wage and social debts +€37,778
up €37,778 (+43.9%), from €86,121 to €123,899
of which Taxes: +€46,036
- Trade debts -€22,814
down €22,814 (-7.5%), from €305,791 to €282,977
- Current portion of long-term debt -€18,361
down €18,361 (-19.0%), from €96,474 to €78,113
Income statement
- Gross operating margin +€49,365
up €49,365 (+7.3%), from €674,172 to €723,537
- Taxes +€15,407
up €15,407 (+83.4%), from €18,464 to €33,870
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
€53,340
Gross operating margin
+€49,365
Staff costs
-€3,840
Depreciation
+€5,978
Other operating charges
-€2,937
Financial income
-€99
Financial charges
+€3,985
Taxes
-€15,407
Result 2025
€90,385
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
+€171,075
Investment
-€76,298
Financing
-€93,703
Cash 2024
€268,627
From operations (derived)
+€171,075
Net result for the year
+€90,385
Depreciation
+€81,853
Stocks and contracts
-€941
Receivables within one year
-€10,545
Deferred charges and accrued income
-€15,983
Trade debts
-€22,814
Tax, wage and social debts
+€37,778
Other debts
+€1,180
Accrued charges and deferred income
+€10,161
Investment (derived)
-€76,298
Investment in fixed assets (net)
-€76,298
Financing
-€93,703
Debts after one year
-€43,913
Current portion of long-term debt
-€18,361
Contributions, distributions and other
-€31,429
Cash 2025
€269,701
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €866,481 | €889,468 | +€22,988 | +2.7% |
| Formation expenses | 20 | €1,698 | €1,167 | -€531 | -31.2% |
| Fixed assets | 21/28 | €233,599 | €228,575 | -€5,024 | -2.2% |
| Tangible fixed assets | 22/27 | €233,289 | €228,264 | -€5,024 | -2.2% |
| Plant, machinery and equipment | 23 | €168,266 | €117,529 | -€50,737 | -30.2% |
| Furniture and vehicles | 24 | €65,023 | €110,736 | +€45,712 | +70.3% |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €631,184 | €659,726 | +€28,542 | +4.5% |
| Stocks and contracts in progress | 3 | €216,145 | €217,086 | +€941 | +0.4% |
| Stocks | 30/36 | €216,145 | €217,086 | +€941 | +0.4% |
| Amounts receivable within one year | 40/41 | €144,684 | €155,229 | +€10,545 | +7.3% |
| Trade receivables | 40 | €127,686 | €153,706 | +€26,020 | +20.4% |
| Other amounts receivable | 41 | €16,998 | €1,523 | -€15,475 | -91.0% |
| Cash at bank and in hand | 54/58 | €268,627 | €269,701 | +€1,073 | +0.4% |
| Deferred charges and accrued income | 490/1 | €1,728 | €17,711 | +€15,983 | +925.0% |
| Total equity and liabilities | 10/49 | €866,481 | €889,468 | +€22,988 | +2.7% |
| Equity | 10/15 | €229,644 | €288,601 | +€58,957 | +25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €199,488 | €258,444 | +€58,957 | +29.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €178,878 | €237,834 | +€58,957 | +33.0% |
| Profit (loss) carried forward | 14 | €11,557 | €11,557 | = | 0.0% |
| Provisions and deferred taxes | 16 | €268 | €268 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €268 | €268 | = | 0.0% |
| Environmental obligations | 163 | €268 | €268 | = | 0.0% |
| Amounts payable | 17/49 | €636,569 | €600,600 | -€35,969 | -5.7% |
| Amounts payable after more than one year | 17 | €128,794 | €84,881 | -€43,913 | -34.1% |
| Financial debts | 170/4 | €128,794 | €84,881 | -€43,913 | -34.1% |
| Amounts payable within one year | 42/48 | €488,386 | €486,169 | -€2,217 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €96,474 | €78,113 | -€18,361 | -19.0% |
| Trade debts | 44 | €305,791 | €282,977 | -€22,814 | -7.5% |
| Suppliers | 440/4 | €305,791 | €282,977 | -€22,814 | -7.5% |
| Taxes, remuneration and social security | 45 | €86,121 | €123,899 | +€37,778 | +43.9% |
| Taxes | 450/3 | €22,464 | €68,500 | +€46,036 | +204.9% |
| Remuneration and social security | 454/9 | €63,657 | €55,400 | -€8,258 | -13.0% |
| Other amounts payable | 47/48 | - | €1,180 | +€1,180 | |
| Accrued charges and deferred income | 492/3 | €19,388 | €29,549 | +€10,161 | +52.4% |
| Non-recurring operating income | 76A | - | €20,248 | +€20,248 | |
| Remuneration, social security and pensions | 62 | €462,413 | €466,252 | +€3,840 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,831 | €81,853 | -€5,978 | -6.8% |
| Other operating charges | 640/8 | €12,125 | €15,062 | +€2,937 | +24.2% |
| Gross operating margin | 9900 | €674,172 | €723,537 | +€49,365 | +7.3% |
| Operating profit (loss) | 9901 | €111,803 | €160,370 | +€48,566 | +43.4% |
| Financial income | 75/76B | €1,599 | €1,500 | -€99 | -6.2% |
| Recurring financial income | 75 | €1,599 | €1,500 | -€99 | -6.2% |
| Financial charges | 65/66B | €41,599 | €37,614 | -€3,985 | -9.6% |
| Recurring financial charges | 65 | €41,599 | €37,614 | -€3,985 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €71,804 | €124,256 | +€52,452 | +73.0% |
| Income taxes | 67/77 | €18,464 | €33,870 | +€15,407 | +83.4% |
| Profit (loss) for the period | 9904 | €53,340 | €90,385 | +€37,045 | +69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,340 | €90,385 | +€37,045 | +69.5% |
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 30 September 2026 via checked.be.