GEKU: 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.
GEKU
Largest movements
- Receivables within one year +€23,629
up €23,629 (+11.8%), from €199,757 to €223,387
of which Trade receivables: +€34,342
- Cash -€9,166
down €9,166 (-73.1%), from €12,547 to €3,381
mainly Receivables within one year (-€23,629) and Tax, wage and social debts (-€11,447)
- Tangible fixed assets -€3,303
down €3,303 (-41.8%), from €7,894 to €4,591
of which Plant, machinery and equipment: -€2,770
- Stocks and contracts -€3,095
down €3,095 (-7.4%), from €41,747 to €38,652
- Tax, wage and social debts -€11,447
down €11,447 (-15.0%), from €76,121 to €64,673
of which Taxes: -€10,993
- Trade debts +€9,406
up €9,406 (+14.9%), from €63,179 to €72,585
- Accrued charges and deferred income +€7,750
up €7,750 (+42.6%), from €18,198 to €25,948
- Debts after one year -€3,750
down €3,750 (-100.0%), from €3,750 to €0
- Gross operating margin -€233,089
down €233,089 (-89.3%), from €261,054 to €27,965
- Taxes -€37,957
down €37,957 (-99.9%), from €38,012 to €55
- Staff costs -€10,887
down €10,887 (-85.5%), from €12,737 to €1,851
- Other operating charges +€6,789
up €6,789 (+2815.8%), from €241 to €7,030
- Financial charges -€5,523
down €5,523 (-33.9%), from €16,298 to €10,775
of which Non-recurring financial charges: -€11,560
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 | €263,824 | €270,011 | +€6,188 | +2.3% |
| Fixed assets | 21/28 | €7,894 | €4,591 | -€3,303 | -41.8% |
| Tangible fixed assets | 22/27 | €7,894 | €4,591 | -€3,303 | -41.8% |
| Land and buildings | 22 | €1,509 | €977 | -€533 | -35.3% |
| Plant, machinery and equipment | 23 | €6,384 | €3,614 | -€2,770 | -43.4% |
| Current assets | 29/58 | €255,930 | €265,420 | +€9,490 | +3.7% |
| Stocks and contracts in progress | 3 | €41,747 | €38,652 | -€3,095 | -7.4% |
| Stocks | 30/36 | €41,747 | €38,652 | -€3,095 | -7.4% |
| Amounts receivable within one year | 40/41 | €199,757 | €223,387 | +€23,629 | +11.8% |
| Trade receivables | 40 | €6,191 | €40,533 | +€34,342 | +554.7% |
| Other amounts receivable | 41 | €193,566 | €182,853 | -€10,712 | -5.5% |
| Cash at bank and in hand | 54/58 | €12,547 | €3,381 | -€9,166 | -73.1% |
| Deferred charges and accrued income | 490/1 | €1,879 | €0 | -€1,879 | -100.0% |
| Total equity and liabilities | 10/49 | €263,824 | €270,011 | +€6,188 | +2.3% |
| Equity | 10/15 | €102,576 | €105,035 | +€2,459 | +2.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,576 | €103,035 | +€2,459 | +2.4% |
| Amounts payable | 17/49 | €161,248 | €164,977 | +€3,729 | +2.3% |
| Amounts payable after more than one year | 17 | €3,750 | €0 | -€3,750 | -100.0% |
| Financial debts | 170/4 | €3,750 | €0 | -€3,750 | -100.0% |
| Amounts payable within one year | 42/48 | €139,300 | €139,029 | -€271 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €1,770 | +€1,770 | |
| Trade debts | 44 | €63,179 | €72,585 | +€9,406 | +14.9% |
| Suppliers | 440/4 | €63,179 | €72,585 | +€9,406 | +14.9% |
| Taxes, remuneration and social security | 45 | €76,121 | €64,673 | -€11,447 | -15.0% |
| Taxes | 450/3 | €75,666 | €64,673 | -€10,993 | -14.5% |
| Remuneration and social security | 454/9 | €455 | €0 | -€455 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €18,198 | €25,948 | +€7,750 | +42.6% |
| Non-recurring operating income | 76A | €147,109 | €0 | -€147,109 | -100.0% |
| Remuneration, social security and pensions | 62 | €12,737 | €1,851 | -€10,887 | -85.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,113 | €3,303 | -€4,811 | -59.3% |
| Other operating charges | 640/8 | €241 | €7,030 | +€6,789 | +2815.8% |
| Non-recurring operating charges | 66A | - | €2,502 | +€2,502 | |
| Gross operating margin | 9900 | €261,054 | €27,965 | -€233,089 | -89.3% |
| Operating profit (loss) | 9901 | €239,963 | €13,280 | -€226,682 | -94.5% |
| Financial income | 75/76B | €119 | €8 | -€110 | -93.0% |
| Recurring financial income | 75 | €119 | €8 | -€110 | -93.0% |
| Financial charges | 65/66B | €16,298 | €10,775 | -€5,523 | -33.9% |
| Recurring financial charges | 65 | €4,738 | €10,775 | +€6,037 | +127.4% |
| Non-recurring financial charges | 66B | €11,560 | €0 | -€11,560 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €223,784 | €2,514 | -€221,269 | -98.9% |
| Income taxes | 67/77 | €38,012 | €55 | -€37,957 | -99.9% |
| Profit (loss) for the period | 9904 | €185,772 | €2,459 | -€183,313 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €185,772 | €2,459 | -€183,313 | -98.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.