GEKA: 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.
GEKA
Largest movements
- Cash -€79,959
down €79,959 (-45.2%), from €177,058 to €97,099
mainly Debts after one year (-€83,176) and Investment in fixed assets (net) (-€76,334)
- Receivables within one year -€39,542
down €39,542 (-27.1%), from €145,688 to €106,147
of which Trade receivables: -€40,830
- Deferred charges and accrued income +€17,976
up €17,976 (+72.9%), from €24,658 to €42,634
- Tangible fixed assets +€14,991
up €14,991 (+2.6%), from €585,727 to €600,718
of which Land and buildings: +€16,979
- Short-term financial debts +€103,125
up €103,125 (+6908.1%), from €1,493 to €104,618
- Debts after one year -€83,176
down €83,176 (-21.1%), from €393,463 to €310,287
- Trade debts -€30,741
down €30,741 (-16.5%), from €186,377 to €155,636
- Reserves -€26,110
down €26,110 (-6.5%), from €400,788 to €374,678
- Advances received -€21,400
no longer reported in 2025 (was €21,400)
- Gross operating margin -€212,597
down €212,597 (-57.8%), from €368,115 to €155,518
- Taxes -€50,725
down €50,725 (-92.9%), from €54,596 to €3,872
- Write-downs -€24,624
no longer reported in 2025 (was €24,624)
- Staff costs -€17,446
down €17,446 (-9.6%), from €180,842 to €163,396
- Depreciation +€9,053
up €9,053 (+17.3%), from €52,291 to €61,343
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 | €1,172,286 | €1,092,489 | -€79,797 | -6.8% |
| Fixed assets | 21/28 | €585,727 | €600,718 | +€14,991 | +2.6% |
| Tangible fixed assets | 22/27 | €585,727 | €600,718 | +€14,991 | +2.6% |
| Land and buildings | 22 | €527,213 | €544,192 | +€16,979 | +3.2% |
| Furniture and vehicles | 24 | €55,956 | €56,526 | +€570 | +1.0% |
| Leasing and similar rights | 25 | €2,558 | - | -€2,558 | |
| Current assets | 29/58 | €586,558 | €491,771 | -€94,787 | -16.2% |
| Amounts receivable after more than one year | 29 | €88,248 | €97,332 | +€9,084 | +10.3% |
| Other amounts receivable | 291 | €88,248 | €97,332 | +€9,084 | +10.3% |
| Stocks and contracts in progress | 3 | €150,906 | €148,560 | -€2,346 | -1.6% |
| Stocks | 30/36 | €150,906 | €148,560 | -€2,346 | -1.6% |
| Amounts receivable within one year | 40/41 | €145,688 | €106,147 | -€39,542 | -27.1% |
| Trade receivables | 40 | €134,464 | €93,633 | -€40,830 | -30.4% |
| Other amounts receivable | 41 | €11,225 | €12,513 | +€1,289 | +11.5% |
| Cash at bank and in hand | 54/58 | €177,058 | €97,099 | -€79,959 | -45.2% |
| Deferred charges and accrued income | 490/1 | €24,658 | €42,634 | +€17,976 | +72.9% |
| Total equity and liabilities | 10/49 | €1,172,286 | €1,092,489 | -€79,797 | -6.8% |
| Equity | 10/15 | €420,788 | €394,678 | -€26,110 | -6.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €400,788 | €374,678 | -€26,110 | -6.5% |
| Distributable reserves | 133 | €400,788 | €374,678 | -€26,110 | -6.5% |
| Amounts payable | 17/49 | €751,498 | €697,811 | -€53,686 | -7.1% |
| Amounts payable after more than one year | 17 | €393,463 | €310,287 | -€83,176 | -21.1% |
| Financial debts | 170/4 | €393,463 | €310,287 | -€83,176 | -21.1% |
| Amounts payable within one year | 42/48 | €358,034 | €387,524 | +€29,490 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €83,370 | €83,176 | -€194 | -0.2% |
| Financial debts | 43 | €1,493 | €104,618 | +€103,125 | +6908.1% |
| Credit institutions | 430/8 | €1,493 | €104,618 | +€103,125 | +6908.1% |
| Trade debts | 44 | €186,377 | €155,636 | -€30,741 | -16.5% |
| Suppliers | 440/4 | €186,377 | €155,636 | -€30,741 | -16.5% |
| Advances received on contracts in progress | 46 | €21,400 | - | -€21,400 | |
| Taxes, remuneration and social security | 45 | €65,395 | €44,093 | -€21,301 | -32.6% |
| Taxes | 450/3 | €44,764 | €28,471 | -€16,294 | -36.4% |
| Remuneration and social security | 454/9 | €20,630 | €15,623 | -€5,008 | -24.3% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Remuneration, social security and pensions | 62 | €180,842 | €163,396 | -€17,446 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,291 | €61,343 | +€9,053 | +17.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,624 | - | -€24,624 | |
| Other operating charges | 640/8 | €9,720 | €11,317 | +€1,597 | +16.4% |
| Non-recurring operating charges | 66A | - | €5,070 | +€5,070 | |
| Gross operating margin | 9900 | €368,115 | €155,518 | -€212,597 | -57.8% |
| Operating profit (loss) | 9901 | €100,638 | -€85,607 | -€186,246 | |
| Financial income | 75/76B | €98,840 | €99,026 | +€186 | +0.2% |
| Recurring financial income | 75 | €98,840 | €99,026 | +€186 | +0.2% |
| Financial charges | 65/66B | €40,816 | €35,657 | -€5,159 | -12.6% |
| Recurring financial charges | 65 | €40,816 | €35,657 | -€5,159 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €158,663 | -€22,238 | -€180,901 | |
| Income taxes | 67/77 | €54,596 | €3,872 | -€50,725 | -92.9% |
| Profit (loss) for the period | 9904 | €104,066 | -€26,110 | -€130,177 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,066 | -€26,110 | -€130,177 |
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.