GEFRA: 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.
GEFRA
Largest movements
- Cash +€2,579
up €2,579 (+44.6%), from €5,779 to €8,358
mainly Net result for the year (+€9,925) and Depreciation (+€6,422)
- Receivables within one year -€1,059
down €1,059 (-14.0%), from €7,590 to €6,531
of which Trade receivables: -€1,059
- Tangible fixed assets +€1,037
up €1,037 (+1.6%), from €66,385 to €67,422
of which Furniture and vehicles: +€3,571
- Profit (loss) carried forward +€9,925
up €9,925 (+14.7%), from -€67,745 to -€57,820
- Debts after one year -€6,520
down €6,520 (-47.5%), from €13,712 to €7,192
- Trade debts +€1,451
up €1,451, from €0 to €1,451
- Other debts -€1,359
down €1,359 (-3.8%), from €36,024 to €34,665
- Current portion of long-term debt -€1,115
down €1,115 (-14.6%), from €7,635 to €6,520
- Depreciation +€2,283
up €2,283 (+55.1%), from €4,139 to €6,422
- Gross operating margin -€2,000
down €2,000 (-7.3%), from €27,394 to €25,394
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 | €80,001 | €82,558 | +€2,557 | +3.2% |
| Fixed assets | 21/28 | €66,385 | €67,422 | +€1,037 | +1.6% |
| Tangible fixed assets | 22/27 | €66,385 | €67,422 | +€1,037 | +1.6% |
| Land and buildings | 22 | €54,176 | €53,305 | -€871 | -1.6% |
| Plant, machinery and equipment | 23 | €5,913 | €4,251 | -€1,662 | -28.1% |
| Furniture and vehicles | 24 | €6,296 | €9,867 | +€3,571 | +56.7% |
| Current assets | 29/58 | €13,616 | €15,136 | +€1,520 | +11.2% |
| Amounts receivable within one year | 40/41 | €7,590 | €6,531 | -€1,059 | -14.0% |
| Trade receivables | 40 | €6,972 | €5,913 | -€1,059 | -15.2% |
| Other amounts receivable | 41 | €617 | €617 | = | 0.0% |
| Current investments | 50/53 | €248 | €248 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,779 | €8,358 | +€2,579 | +44.6% |
| Total equity and liabilities | 10/49 | €80,001 | €82,558 | +€2,557 | +3.2% |
| Equity | 10/15 | €21,497 | €31,422 | +€9,925 | +46.2% |
| Contributions | 10/11 | €89,242 | €89,242 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€67,745 | -€57,820 | +€9,925 | +14.7% |
| Amounts payable | 17/49 | €58,504 | €51,136 | -€7,368 | -12.6% |
| Amounts payable after more than one year | 17 | €13,712 | €7,192 | -€6,520 | -47.5% |
| Financial debts | 170/4 | €13,712 | €7,192 | -€6,520 | -47.5% |
| Amounts payable within one year | 42/48 | €44,792 | €43,943 | -€849 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €7,635 | €6,520 | -€1,115 | -14.6% |
| Trade debts | 44 | €0 | €1,451 | +€1,451 | |
| Suppliers | 440/4 | €0 | €1,451 | +€1,451 | |
| Taxes, remuneration and social security | 45 | €1,133 | €1,308 | +€175 | +15.4% |
| Taxes | 450/3 | €1,133 | €1,308 | +€175 | +15.4% |
| Other amounts payable | 47/48 | €36,024 | €34,665 | -€1,359 | -3.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,139 | €6,422 | +€2,283 | +55.1% |
| Other operating charges | 640/8 | €7,967 | €8,177 | +€210 | +2.6% |
| Gross operating margin | 9900 | €27,394 | €25,394 | -€2,000 | -7.3% |
| Operating profit (loss) | 9901 | €15,288 | €10,795 | -€4,493 | -29.4% |
| Financial income | 75/76B | €8 | €0 | -€8 | -100.0% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -100.0% |
| Financial charges | 65/66B | €578 | €694 | +€116 | +20.0% |
| Recurring financial charges | 65 | €578 | €694 | +€116 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €14,718 | €10,101 | -€4,616 | -31.4% |
| Income taxes | 67/77 | €140 | €176 | +€37 | +26.2% |
| Profit (loss) for the period | 9904 | €14,578 | €9,925 | -€4,653 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,578 | €9,925 | -€4,653 | -31.9% |
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 29 September 2026 via checked.be.