GeFiCon: 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.
GeFiCon
Largest movements
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Receivables within one year -€36,551
down €36,551 (-52.8%), from €69,177 to €32,626
- Tangible fixed assets -€15,148
down €15,148 (-15.2%), from €99,562 to €84,414
of which Furniture and vehicles: -€15,064
- Financial fixed assets +€6,500
up €6,500 (+12.2%), from €53,275 to €59,775
- Profit (loss) carried forward -€142,137
down €142,137 (-40.9%), from €347,682 to €205,545
- Tax, wage and social debts -€18,378
down €18,378 (-49.1%), from €37,414 to €19,036
of which Taxes: -€15,851
- Debts after one year -€9,794
down €9,794 (-27.2%), from €35,999 to €26,204
- Other debts +€6,297
up €6,297 (+120.7%), from €5,218 to €11,515
- Financial income -€178,863
down €178,863 (-82.9%), from €215,839 to €36,975
of which Financial income: -€178,718
- Gross operating margin -€64,878
down €64,878 (-29.1%), from €222,971 to €158,093
- Taxes -€64,213
down €64,213 (-63.7%), from €100,845 to €36,632
- Depreciation +€9,704
up €9,704 (+99.9%), from €9,717 to €19,420
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 | €517,379 | €349,618 | -€167,762 | -32.4% |
| Fixed assets | 21/28 | €152,837 | €144,189 | -€8,648 | -5.7% |
| Tangible fixed assets | 22/27 | €99,562 | €84,414 | -€15,148 | -15.2% |
| Plant, machinery and equipment | 23 | €5,647 | €4,513 | -€1,134 | -20.1% |
| Furniture and vehicles | 24 | €67,241 | €52,177 | -€15,064 | -22.4% |
| Other tangible fixed assets | 26 | €26,674 | €27,724 | +€1,050 | +3.9% |
| Financial fixed assets | 28 | €53,275 | €59,775 | +€6,500 | +12.2% |
| Current assets | 29/58 | €364,543 | €205,429 | -€159,114 | -43.6% |
| Amounts receivable within one year | 40/41 | €69,177 | €32,626 | -€36,551 | -52.8% |
| Trade receivables | 40 | €69,177 | €32,626 | -€36,551 | -52.8% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €165,406 | €168,091 | +€2,685 | +1.6% |
| Deferred charges and accrued income | 490/1 | €4,960 | €4,712 | -€248 | -5.0% |
| Total equity and liabilities | 10/49 | €517,379 | €349,618 | -€167,762 | -32.4% |
| Equity | 10/15 | €422,818 | €280,682 | -€142,137 | -33.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,537 | €56,537 | = | 0.0% |
| Distributable reserves | 133 | €56,537 | €56,537 | = | 0.0% |
| Profit (loss) carried forward | 14 | €347,682 | €205,545 | -€142,137 | -40.9% |
| Amounts payable | 17/49 | €94,561 | €68,936 | -€25,625 | -27.1% |
| Amounts payable after more than one year | 17 | €35,999 | €26,204 | -€9,794 | -27.2% |
| Financial debts | 170/4 | €35,999 | €26,204 | -€9,794 | -27.2% |
| Amounts payable within one year | 42/48 | €58,562 | €42,122 | -€16,440 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €9,424 | €9,794 | +€371 | +3.9% |
| Trade debts | 44 | €6,507 | €1,777 | -€4,730 | -72.7% |
| Suppliers | 440/4 | €6,507 | €1,777 | -€4,730 | -72.7% |
| Taxes, remuneration and social security | 45 | €37,414 | €19,036 | -€18,378 | -49.1% |
| Taxes | 450/3 | €34,547 | €18,696 | -€15,851 | -45.9% |
| Remuneration and social security | 454/9 | €2,867 | €340 | -€2,527 | -88.1% |
| Other amounts payable | 47/48 | €5,218 | €11,515 | +€6,297 | +120.7% |
| Accrued charges and deferred income | 492/3 | - | €610 | +€610 | |
| Non-recurring operating income | 76A | €10,305 | - | -€10,305 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,717 | €19,420 | +€9,704 | +99.9% |
| Other operating charges | 640/8 | €892 | €453 | -€439 | -49.2% |
| Gross operating margin | 9900 | €222,971 | €158,093 | -€64,878 | -29.1% |
| Operating profit (loss) | 9901 | €212,363 | €138,220 | -€74,142 | -34.9% |
| Financial income | 75/76B | €215,839 | €36,975 | -€178,863 | -82.9% |
| Recurring financial income | 75 | €206,868 | €28,150 | -€178,718 | -86.4% |
| Non-recurring financial income | 76B | €8,970 | €8,825 | -€145 | -1.6% |
| Financial charges | 65/66B | €10,392 | €10,700 | +€308 | +3.0% |
| Recurring financial charges | 65 | €1,088 | €1,876 | +€789 | +72.5% |
| Non-recurring financial charges | 66B | €9,304 | €8,824 | -€480 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €417,809 | €164,495 | -€253,314 | -60.6% |
| Income taxes | 67/77 | €100,845 | €36,632 | -€64,213 | -63.7% |
| Profit (loss) for the period | 9904 | €316,964 | €127,863 | -€189,101 | -59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €316,964 | €127,863 | -€189,101 | -59.7% |
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 3 October 2026 via checked.be.