GEFIME: 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.
GEFIME
Largest movements
- Financial fixed assets +€2.2m
up €2.2m (+1647.7%), from €134,229 to €2.3m
- Current investments +€1.1m
up €1.1m (+65.5%), from €1.7m to €2.7m
- Other debts +€2.6m
up €2.6m (+3215.6%), from €80,953 to €2.7m
- Profit (loss) carried forward +€805,753
up €805,753 (+104.5%), from €771,079 to €1.6m
- Financial income -€670,006
down €670,006 (-42.6%), from €1.6m to €902,462
of which Non-recurring financial income: -€1.4m
- Other operating charges -€38,049
down €38,049 (-95.5%), from €39,823 to €1,774
- Gross operating margin -€28,629
down €28,629, from €5,163 to -€23,466
- Staff costs -€19,097
no longer reported in 2025 (was €19,097)
- Depreciation +€14,041
up €14,041 (+102.8%), from €13,662 to €27,704
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 | €2,367,246 | €5,776,549 | +€3.4m | +144.0% |
| Fixed assets | 21/28 | €332,093 | €2,561,947 | +€2.2m | +671.5% |
| Tangible fixed assets | 22/27 | €197,864 | €216,035 | +€18,171 | +9.2% |
| Land and buildings | 22 | €84,524 | €123,301 | +€38,777 | +45.9% |
| Furniture and vehicles | 24 | €113,340 | €92,734 | -€20,606 | -18.2% |
| Financial fixed assets | 28 | €134,229 | €2,345,912 | +€2.2m | +1647.7% |
| Current assets | 29/58 | €2,035,153 | €3,214,602 | +€1.2m | +58.0% |
| Amounts receivable within one year | 40/41 | €378,353 | €429,853 | +€51,499 | +13.6% |
| Trade receivables | 40 | €64,843 | €71,634 | +€6,791 | +10.5% |
| Other amounts receivable | 41 | €313,511 | €358,219 | +€44,708 | +14.3% |
| Current investments | 50/53 | €1,650,000 | €2,730,000 | +€1.1m | +65.5% |
| Cash at bank and in hand | 54/58 | €6,657 | €52,623 | +€45,966 | +690.4% |
| Deferred charges and accrued income | 490/1 | €142 | €2,127 | +€1,985 | +1395.8% |
| Total equity and liabilities | 10/49 | €2,367,246 | €5,776,549 | +€3.4m | +144.0% |
| Equity | 10/15 | €2,215,492 | €3,050,698 | +€835,206 | +37.7% |
| Contributions | 10/11 | €1,339,878 | €1,339,878 | = | 0.0% |
| Capital | 10 | €1,339,878 | €1,339,878 | = | 0.0% |
| Issued capital | 100 | €1,339,878 | €1,339,878 | = | 0.0% |
| Reserves | 13 | €104,535 | €133,988 | +€29,453 | +28.2% |
| Non-distributable reserves | 130/1 | €104,535 | €133,988 | +€29,453 | +28.2% |
| Legal reserve | 130 | €104,535 | €133,988 | +€29,453 | +28.2% |
| Profit (loss) carried forward | 14 | €771,079 | €1,576,832 | +€805,753 | +104.5% |
| Amounts payable | 17/49 | €151,754 | €2,725,852 | +€2.6m | +1696.2% |
| Amounts payable after more than one year | 17 | €48,458 | €39,032 | -€9,426 | -19.5% |
| Financial debts | 170/4 | €48,458 | €39,032 | -€9,426 | -19.5% |
| Amounts payable within one year | 42/48 | €103,296 | €2,686,820 | +€2.6m | +2501.1% |
| Trade debts | 44 | €20,644 | €2,031 | -€18,614 | -90.2% |
| Suppliers | 440/4 | €20,644 | €2,031 | -€18,614 | -90.2% |
| Taxes, remuneration and social security | 45 | €1,699 | €717 | -€982 | -57.8% |
| Taxes | 450/3 | €1,699 | €717 | -€982 | -57.8% |
| Other amounts payable | 47/48 | €80,953 | €2,684,072 | +€2.6m | +3215.6% |
| Non-recurring operating income | 76A | €16,438 | - | -€16,438 | |
| Remuneration, social security and pensions | 62 | €19,097 | - | -€19,097 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,662 | €27,704 | +€14,041 | +102.8% |
| Other operating charges | 640/8 | €39,823 | €1,774 | -€38,049 | -95.5% |
| Gross operating margin | 9900 | €5,163 | -€23,466 | -€28,629 | |
| Operating profit (loss) | 9901 | -€67,420 | -€52,944 | +€14,476 | +21.5% |
| Financial income | 75/76B | €1,572,468 | €902,462 | -€670,006 | -42.6% |
| Recurring financial income | 75 | €127,324 | €902,462 | +€775,139 | +608.8% |
| Non-recurring financial income | 76B | €1,445,145 | - | -€1.4m | |
| Financial charges | 65/66B | €21,521 | €12,419 | -€9,103 | -42.3% |
| Recurring financial charges | 65 | €13,182 | €12,419 | -€763 | -5.8% |
| Non-recurring financial charges | 66B | €8,339 | - | -€8,339 | |
| Profit (loss) for the period before taxes | 9903 | €1,483,527 | €837,100 | -€646,427 | -43.6% |
| Income taxes | 67/77 | €7,258 | €1,894 | -€5,364 | -73.9% |
| Profit (loss) for the period | 9904 | €1,476,270 | €835,206 | -€641,064 | -43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,476,270 | €835,206 | -€641,064 | -43.4% |
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.