GEEDAS: 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.
GEEDAS
Largest movements
- Financial fixed assets +€55,372
up €55,372 (+902.1%), from €6,138 to €61,510
- Current investments +€51,411
up €51,411 (+14.3%), from €359,488 to €410,899
- Cash +€51,093
up €51,093 (+23.3%), from €219,675 to €270,768
mainly Net result for the year (+€439,989) and Tax, wage and social debts (+€43,999)
- Receivables within one year -€37,499
down €37,499 (-66.1%), from €56,728 to €19,229
- Tangible fixed assets +€14,696
up €14,696 (+2.8%), from €533,351 to €548,047
of which Land and buildings: +€17,530
- Reserves +€110,577
up €110,577 (+10.4%), from €1.1m to €1.2m
- Tax, wage and social debts +€43,999
new in 2025: €43,999
- Debts after one year -€40,230
no longer reported in 2025 (was €40,230)
- Other debts +€29,777
new in 2025: €29,777
- Financial income +€226,296
up €226,296 (+159.1%), from €142,254 to €368,550
of which Financial income: +€214,898
- Taxes +€42,734
up €42,734 (+96.5%), from €44,263 to €86,998
- Depreciation +€2,885
up €2,885 (+11.3%), from €25,560 to €28,446
- Gross operating margin -€2,613
down €2,613 (-1.3%), from €199,911 to €197,297
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 | €1,177,105 | €1,312,268 | +€135,164 | +11.5% |
| Fixed assets | 21/28 | €539,489 | €609,557 | +€70,068 | +13.0% |
| Tangible fixed assets | 22/27 | €533,351 | €548,047 | +€14,696 | +2.8% |
| Land and buildings | 22 | €521,378 | €538,909 | +€17,530 | +3.4% |
| Plant, machinery and equipment | 23 | €5,472 | €2,638 | -€2,834 | -51.8% |
| Furniture and vehicles | 24 | €6,500 | €6,500 | = | 0.0% |
| Financial fixed assets | 28 | €6,138 | €61,510 | +€55,372 | +902.1% |
| Current assets | 29/58 | €637,616 | €702,711 | +€65,095 | +10.2% |
| Amounts receivable within one year | 40/41 | €56,728 | €19,229 | -€37,499 | -66.1% |
| Other amounts receivable | 41 | €56,728 | €19,229 | -€37,499 | -66.1% |
| Current investments | 50/53 | €359,488 | €410,899 | +€51,411 | +14.3% |
| Cash at bank and in hand | 54/58 | €219,675 | €270,768 | +€51,093 | +23.3% |
| Deferred charges and accrued income | 490/1 | €1,725 | €1,816 | +€90 | +5.2% |
| Total equity and liabilities | 10/49 | €1,177,105 | €1,312,268 | +€135,164 | +11.5% |
| Equity | 10/15 | €1,081,763 | €1,192,341 | +€110,577 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,062,382 | €1,172,960 | +€110,577 | +10.4% |
| Distributable reserves | 133 | €1,062,382 | €1,172,960 | +€110,577 | +10.4% |
| Profit (loss) carried forward | 14 | €781 | €781 | = | 0.0% |
| Amounts payable | 17/49 | €95,342 | €119,928 | +€24,586 | +25.8% |
| Amounts payable after more than one year | 17 | €40,230 | - | -€40,230 | |
| Financial debts | 170/4 | €40,230 | - | -€40,230 | |
| Amounts payable within one year | 42/48 | €55,111 | €119,139 | +€64,027 | +116.2% |
| Current portion of amounts payable after more than one year | 42 | €39,913 | €40,230 | +€318 | +0.8% |
| Financial debts | 43 | €12,534 | €2,546 | -€9,988 | -79.7% |
| Credit institutions | 430/8 | €12,534 | €2,543 | -€9,991 | -79.7% |
| Other loans | 439 | - | €4 | +€4 | |
| Trade debts | 44 | €2,664 | €2,586 | -€79 | -2.9% |
| Suppliers | 440/4 | €2,664 | €2,586 | -€79 | -2.9% |
| Taxes, remuneration and social security | 45 | - | €43,999 | +€43,999 | |
| Taxes | 450/3 | - | €43,999 | +€43,999 | |
| Other amounts payable | 47/48 | - | €29,777 | +€29,777 | |
| Accrued charges and deferred income | 492/3 | - | €789 | +€789 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,560 | €28,446 | +€2,885 | +11.3% |
| Other operating charges | 640/8 | €5,148 | €4,929 | -€219 | -4.2% |
| Gross operating margin | 9900 | €199,911 | €197,297 | -€2,613 | -1.3% |
| Operating profit (loss) | 9901 | €169,203 | €163,923 | -€5,280 | -3.1% |
| Financial income | 75/76B | €142,254 | €368,550 | +€226,296 | +159.1% |
| Recurring financial income | 75 | €142,254 | €357,152 | +€214,898 | +151.1% |
| Non-recurring financial income | 76B | - | €11,398 | +€11,398 | |
| Financial charges | 65/66B | €6,076 | €5,486 | -€590 | -9.7% |
| Recurring financial charges | 65 | €6,076 | €5,486 | -€590 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €305,380 | €526,987 | +€221,606 | +72.6% |
| Income taxes | 67/77 | €44,263 | €86,998 | +€42,734 | +96.5% |
| Profit (loss) for the period | 9904 | €261,117 | €439,989 | +€178,872 | +68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €261,117 | €439,989 | +€178,872 | +68.5% |
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 4 October 2026 via checked.be.