Geec: 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.
Geec
Largest movements
- Cash -€209,847
down €209,847 (-78.8%), from €266,200 to €56,353
mainly Stocks and contracts (-€195,192) and Current investments (-€137,000)
- Stocks and contracts +€195,192
up €195,192 (+30.0%), from €651,056 to €846,248
- Current investments +€137,000
up €137,000 (+141%), from €97,048 to €234,048
- Receivables within one year -€55,015
down €55,015 (-60.1%), from €91,550 to €36,535
of which Other amounts receivable: -€43,673
- Tangible fixed assets +€17,818
up €17,818 (+234%), from €7,618 to €25,436
of which Other tangible fixed assets: +€19,688
- Debts after one year +€183,080
up €183,080 (+37.7%), from €486,025 to €669,105
of which Financial debts: +€183,080
- Reserves -€58,738
down €58,738 (-21.2%), from €276,754 to €218,016
- Trade debts -€42,275
down €42,275 (-97.0%), from €43,572 to €1,297
- Profit (loss) carried forward -€25,169
down €25,169 (-262%), from -€9,623 to -€34,792
- Other debts +€21,375
new in 2025: €21,375
- Gross operating margin +€57,506
up €57,506 (+1,468%), from €3,917 to €61,423
- Staff costs +€35,070
new in 2025: €35,070
- Other operating charges +€27,308
up €27,308 (+2,947%), from €926 to €28,234
- Depreciation +€5,558
up €5,558 (+218%), from €2,548 to €8,106
- Financial charges +€5,026
up €5,026 (+36.6%), from €13,716 to €18,742
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 | €1,114,695 | €1,200,105 | +€85,410 | +7.7% |
| Fixed assets | 21/28 | €7,618 | €25,436 | +€17,818 | +234% |
| Tangible fixed assets | 22/27 | €7,618 | €25,436 | +€17,818 | +234% |
| Plant, machinery and equipment | 23 | €2,463 | €2,031 | -€432 | -17.5% |
| Furniture and vehicles | 24 | €2,969 | €1,531 | -€1,437 | -48.4% |
| Other tangible fixed assets | 26 | €2,186 | €21,874 | +€19,688 | +900% |
| Current assets | 29/58 | €1,107,077 | €1,174,669 | +€67,592 | +6.1% |
| Stocks and contracts in progress | 3 | €651,056 | €846,248 | +€195,192 | +30.0% |
| Stocks | 30/36 | €651,056 | €846,248 | +€195,192 | +30.0% |
| Amounts receivable within one year | 40/41 | €91,550 | €36,535 | -€55,015 | -60.1% |
| Trade receivables | 40 | €25,168 | €13,826 | -€11,342 | -45.1% |
| Other amounts receivable | 41 | €66,382 | €22,709 | -€43,673 | -65.8% |
| Current investments | 50/53 | €97,048 | €234,048 | +€137,000 | +141% |
| Cash at bank and in hand | 54/58 | €266,200 | €56,353 | -€209,847 | -78.8% |
| Deferred charges and accrued income | 490/1 | €1,222 | €1,485 | +€263 | +21.5% |
| Total equity and liabilities | 10/49 | €1,114,695 | €1,200,105 | +€85,410 | +7.7% |
| Equity | 10/15 | €579,848 | €495,940 | -€83,908 | -14.5% |
| Contributions | 10/11 | €312,717 | €312,717 | = | 0.0% |
| Reserves | 13 | €276,754 | €218,016 | -€58,738 | -21.2% |
| Distributable reserves | 133 | €276,754 | €218,016 | -€58,738 | -21.2% |
| Profit (loss) carried forward | 14 | -€9,623 | -€34,792 | -€25,169 | -262% |
| Amounts payable | 17/49 | €534,847 | €704,165 | +€169,318 | +31.7% |
| Amounts payable after more than one year | 17 | €486,025 | €669,105 | +€183,080 | +37.7% |
| Financial debts | 170/4 | €480,895 | €663,975 | +€183,080 | +38.1% |
| Other amounts payable | 178/9 | €5,130 | €5,130 | = | 0.0% |
| Amounts payable within one year | 42/48 | €46,872 | €34,988 | -€11,884 | -25.4% |
| Trade debts | 44 | €43,572 | €1,297 | -€42,275 | -97.0% |
| Suppliers | 440/4 | €43,572 | €1,297 | -€42,275 | -97.0% |
| Taxes, remuneration and social security | 45 | €3,300 | €12,316 | +€9,016 | +273% |
| Taxes | 450/3 | €3,300 | €12,316 | +€9,016 | +273% |
| Other amounts payable | 47/48 | - | €21,375 | +€21,375 | |
| Accrued charges and deferred income | 492/3 | €1,951 | €72 | -€1,879 | -96.3% |
| Remuneration, social security and pensions | 62 | - | €35,070 | +€35,070 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,548 | €8,106 | +€5,558 | +218% |
| Other operating charges | 640/8 | €926 | €28,234 | +€27,308 | +2,947% |
| Gross operating margin | 9900 | €3,917 | €61,423 | +€57,506 | +1,468% |
| Operating profit (loss) | 9901 | €442 | -€9,987 | -€10,430 | |
| Financial income | 75/76B | €3,803 | €3,679 | -€125 | -3.3% |
| Recurring financial income | 75 | €3,803 | €3,679 | -€125 | -3.3% |
| Financial charges | 65/66B | €13,716 | €18,742 | +€5,026 | +36.6% |
| Recurring financial charges | 65 | €13,716 | €18,742 | +€5,026 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,470 | -€25,050 | -€15,580 | -165% |
| Income taxes | 67/77 | €153 | €119 | -€34 | -22.1% |
| Profit (loss) for the period | 9904 | -€9,623 | -€25,169 | -€15,546 | -162% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,623 | -€25,169 | -€15,546 | -162% |
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 16 October 2026 via checked.be.