GEFORA: 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.
GEFORA
Largest movements
- Tangible fixed assets -€75,724
down €75,724 (-6.8%), from €1.1m to €1.0m
of which Other tangible fixed assets: -€62,820
- Other debts -€62,090
down €62,090 (-36.6%), from €169,670 to €107,580
- Trade debts +€29,054
up €29,054 (+24.7%), from €117,427 to €146,481
- Profit (loss) carried forward -€27,766
down €27,766 (-331%), from -€8,401 to -€36,167
- Debts after one year -€20,565
down €20,565 (-13.3%), from €154,653 to €134,088
- Depreciation -€5,026
down €5,026 (-6.1%), from €81,945 to €76,919
- Other operating charges +€2,248
up €2,248 (+87.8%), from €2,560 to €4,808
- Gross operating margin +€1,107
up €1,107 (+1.6%), from €67,666 to €68,773
- Financial charges -€1,097
down €1,097 (-7.0%), from €15,633 to €14,536
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 | €1,156,667 | €1,085,560 | -€71,107 | -6.1% |
| Fixed assets | 21/28 | €1,118,569 | €1,042,845 | -€75,724 | -6.8% |
| Tangible fixed assets | 22/27 | €1,117,736 | €1,042,012 | -€75,724 | -6.8% |
| Land and buildings | 22 | €110,603 | €105,915 | -€4,688 | -4.2% |
| Plant, machinery and equipment | 23 | €5,856 | €4,662 | -€1,194 | -20.4% |
| Furniture and vehicles | 24 | €7,545 | €523 | -€7,022 | -93.1% |
| Other tangible fixed assets | 26 | €993,732 | €930,912 | -€62,820 | -6.3% |
| Financial fixed assets | 28 | €833 | €833 | = | 0.0% |
| Current assets | 29/58 | €38,098 | €42,715 | +€4,617 | +12.1% |
| Amounts receivable within one year | 40/41 | €36,118 | €37,300 | +€1,182 | +3.3% |
| Trade receivables | 40 | €21,280 | €32,742 | +€11,462 | +53.9% |
| Other amounts receivable | 41 | €14,838 | €4,558 | -€10,280 | -69.3% |
| Cash at bank and in hand | 54/58 | €557 | €4,630 | +€4,073 | +731% |
| Deferred charges and accrued income | 490/1 | €1,423 | €785 | -€638 | -44.8% |
| Total equity and liabilities | 10/49 | €1,156,667 | €1,085,560 | -€71,107 | -6.1% |
| Equity | 10/15 | €691,705 | €663,939 | -€27,766 | -4.0% |
| Contributions | 10/11 | €681,000 | €681,000 | = | 0.0% |
| Reserves | 13 | €19,106 | €19,106 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,106 | €19,106 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,106 | €19,106 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,401 | -€36,167 | -€27,766 | -331% |
| Amounts payable | 17/49 | €464,962 | €421,621 | -€43,341 | -9.3% |
| Amounts payable after more than one year | 17 | €154,653 | €134,088 | -€20,565 | -13.3% |
| Financial debts | 170/4 | €154,653 | €134,088 | -€20,565 | -13.3% |
| Amounts payable within one year | 42/48 | €310,260 | €286,195 | -€24,065 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €22,923 | €30,627 | +€7,704 | +33.6% |
| Trade debts | 44 | €117,427 | €146,481 | +€29,054 | +24.7% |
| Suppliers | 440/4 | €117,427 | €146,481 | +€29,054 | +24.7% |
| Taxes, remuneration and social security | 45 | €240 | €1,507 | +€1,267 | +528% |
| Taxes | 450/3 | €240 | €1,507 | +€1,267 | +528% |
| Other amounts payable | 47/48 | €169,670 | €107,580 | -€62,090 | -36.6% |
| Accrued charges and deferred income | 492/3 | €49 | €1,338 | +€1,289 | +2,631% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,945 | €76,919 | -€5,026 | -6.1% |
| Other operating charges | 640/8 | €2,560 | €4,808 | +€2,248 | +87.8% |
| Gross operating margin | 9900 | €67,666 | €68,773 | +€1,107 | +1.6% |
| Operating profit (loss) | 9901 | -€16,839 | -€12,954 | +€3,885 | +23.1% |
| Financial income | 75/76B | - | €0 | = | |
| Recurring financial income | 75 | - | €0 | = | |
| Financial charges | 65/66B | €15,633 | €14,536 | -€1,097 | -7.0% |
| Recurring financial charges | 65 | €15,633 | €14,536 | -€1,097 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€32,472 | -€27,490 | +€4,982 | +15.3% |
| Income taxes | 67/77 | €282 | €276 | -€6 | -2.1% |
| Profit (loss) for the period | 9904 | -€32,754 | -€27,766 | +€4,988 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,754 | -€27,766 | +€4,988 | +15.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.