GEF INTERNATIONAL: 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.
GEF INTERNATIONAL
Largest movements
- Cash -€26,938
down €26,938 (-13.3%), from €202,844 to €175,906
mainly Contributions, distributions and other (-€20,000) and Other debts (-€10,029)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€9,144
up €9,144 (+183%), from €4,999 to €14,143
- Financial income +€3,505
up €3,505 (+263%), from €1,335 to €4,840
- Taxes +€2,516
up €2,516 (+105%), from €2,403 to €4,919
- Financial charges +€569
up €569 (+249%), from €229 to €798
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 | €1,224,037 | €1,195,252 | -€28,785 | -2.4% |
| Fixed assets | 21/28 | €274,830 | €273,352 | -€1,479 | -0.5% |
| Tangible fixed assets | 22/27 | €4,820 | €3,342 | -€1,479 | -30.7% |
| Furniture and vehicles | 24 | €4,820 | €3,342 | -€1,479 | -30.7% |
| Financial fixed assets | 28 | €270,010 | €270,010 | = | 0.0% |
| Current assets | 29/58 | €949,207 | €921,900 | -€27,306 | -2.9% |
| Amounts receivable within one year | 40/41 | €746,363 | €745,995 | -€368 | 0.0% |
| Trade receivables | 40 | €32,299 | €28,516 | -€3,782 | -11.7% |
| Other amounts receivable | 41 | €714,064 | €717,478 | +€3,414 | +0.5% |
| Cash at bank and in hand | 54/58 | €202,844 | €175,906 | -€26,938 | -13.3% |
| Total equity and liabilities | 10/49 | €1,224,037 | €1,195,252 | -€28,785 | -2.4% |
| Equity | 10/15 | €70,550 | €60,805 | -€9,745 | -13.8% |
| Reserves | 13 | €70,512 | €60,766 | -€9,746 | -13.8% |
| Distributable reserves | 133 | €70,512 | €60,766 | -€9,746 | -13.8% |
| Profit (loss) carried forward | 14 | €38 | €39 | +€1 | +2.7% |
| Amounts payable | 17/49 | €1,153,488 | €1,134,448 | -€19,040 | -1.7% |
| Amounts payable within one year | 42/48 | €1,153,488 | €1,134,448 | -€19,040 | -1.7% |
| Financial debts | 43 | €701,447 | €700,000 | -€1,447 | -0.2% |
| Credit institutions | 430/8 | €701,447 | €700,000 | -€1,447 | -0.2% |
| Trade debts | 44 | €9,677 | €329 | -€9,348 | -96.6% |
| Suppliers | 440/4 | €9,677 | €329 | -€9,348 | -96.6% |
| Advances received on contracts in progress | 46 | €410,000 | €410,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,430 | €5,216 | +€1,785 | +52.0% |
| Taxes | 450/3 | €3,430 | €5,216 | +€1,785 | +52.0% |
| Other amounts payable | 47/48 | €28,932 | €18,903 | -€10,029 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,479 | €1,479 | = | 0.0% |
| Other operating charges | 640/8 | €1,396 | €1,533 | +€137 | +9.8% |
| Gross operating margin | 9900 | €4,999 | €14,143 | +€9,144 | +183% |
| Operating profit (loss) | 9901 | €2,125 | €11,132 | +€9,007 | +424% |
| Financial income | 75/76B | €1,335 | €4,840 | +€3,505 | +263% |
| Recurring financial income | 75 | €1,335 | €4,840 | +€3,505 | +263% |
| Financial charges | 65/66B | €229 | €798 | +€569 | +249% |
| Recurring financial charges | 65 | €229 | €798 | +€569 | +249% |
| Profit (loss) for the period before taxes | 9903 | €3,231 | €15,174 | +€11,943 | +370% |
| Income taxes | 67/77 | €2,403 | €4,919 | +€2,516 | +105% |
| Profit (loss) for the period | 9904 | €828 | €10,255 | +€9,427 | +1,139% |
| Profit (loss) for the period to be appropriated | 9905 | €828 | €10,255 | +€9,427 | +1,139% |
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 28 October 2026 via checked.be.