GELECOM: what changed
What changed
GELECOM
NACE 46.431, Wholesale of electrical household appliances and audio-video equipment
filed annual accounts (NBB)
Net result for the year
€215,343
2024 · €206,893+€8,450
Equity
€973,868
2024 · €934,526+€39,343
Cash
€316,544
2024 · €315,522+€1,022
Balance sheet total
€1.8m
2024 · €1.9m-€105,370
Largest movements
Assets
- Receivables within one year -€242,477
down €242,477 (-20.0%), from €1.2m to €971,170
of which Trade receivables: -€217,108
- Tangible fixed assets +€76,188
up €76,188 (+79.6%), from €95,676 to €171,864
of which Furniture and vehicles: +€77,056
- Stocks and contracts +€61,700
up €61,700 (+23.0%), from €268,560 to €330,260
of which Stocks: +€43,190
Equity and liabilities
- Trade debts -€179,597
down €179,597 (-32.5%), from €552,355 to €372,758
- Debts after one year +€86,265
up €86,265 (+600%), from €14,367 to €100,632
of which Financial debts: +€86,265
- Reserves +€39,343
up €39,343 (+4.5%), from €875,031 to €914,374
of which Distributable reserves: +€39,343
- Accrued charges and deferred income -€37,868
down €37,868 (-89.4%), from €42,381 to €4,513
Income statement
- Gross operating margin +€10,820
up €10,820 (+1.1%), from €953,435 to €964,255
- Staff costs +€9,842
up €9,842 (+1.6%), from €624,470 to €634,312
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€206,893
Gross operating margin
+€10,820
Staff costs
-€9,842
Depreciation
+€4,641
Other operating charges
+€7,604
Other operating items
-€6,127
Financial income
-€4,095
Financial charges
+€2,189
Taxes
+€3,261
Result 2025
€215,343
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€237,410
Investment
-€131,495
Financing
-€104,893
Cash 2024
€315,522
From operations (derived)
+€237,410
Net result for the year
+€215,343
Depreciation
+€55,307
Stocks and contracts
-€61,700
Receivables within one year
+€242,477
Deferred charges and accrued income
+€1,802
Trade debts
-€179,597
Tax, wage and social debts
+€1,832
Other debts
-€187
Accrued charges and deferred income
-€37,868
Investment (derived)
-€131,495
Investment in fixed assets (net)
-€131,495
Financing
-€104,893
Debts after one year
+€86,265
Current portion of long-term debt
-€15,158
Contributions, distributions and other
-€176,000
Cash 2025
€316,544
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,915,861 | €1,810,491 | -€105,370 | -5.5% |
| Fixed assets | 21/28 | €107,142 | €183,330 | +€76,188 | +71.1% |
| Tangible fixed assets | 22/27 | €95,676 | €171,864 | +€76,188 | +79.6% |
| Plant, machinery and equipment | 23 | €2,548 | €1,680 | -€868 | -34.1% |
| Furniture and vehicles | 24 | €93,128 | €170,184 | +€77,056 | +82.7% |
| Financial fixed assets | 28 | €11,466 | €11,466 | = | 0.0% |
| Current assets | 29/58 | €1,808,719 | €1,627,161 | -€181,558 | -10.0% |
| Stocks and contracts in progress | 3 | €268,560 | €330,260 | +€61,700 | +23.0% |
| Stocks | 30/36 | €93,890 | €137,080 | +€43,190 | +46.0% |
| Contracts in progress | 37 | €174,670 | €193,180 | +€18,510 | +10.6% |
| Amounts receivable within one year | 40/41 | €1,213,647 | €971,170 | -€242,477 | -20.0% |
| Trade receivables | 40 | €1,132,162 | €915,053 | -€217,108 | -19.2% |
| Other amounts receivable | 41 | €81,485 | €56,116 | -€25,369 | -31.1% |
| Cash at bank and in hand | 54/58 | €315,522 | €316,544 | +€1,022 | +0.3% |
| Deferred charges and accrued income | 490/1 | €10,990 | €9,188 | -€1,802 | -16.4% |
| Total equity and liabilities | 10/49 | €1,915,861 | €1,810,491 | -€105,370 | -5.5% |
| Equity | 10/15 | €934,526 | €973,868 | +€39,343 | +4.2% |
| Contributions | 10/11 | €59,494 | €59,494 | = | 0.0% |
| Capital | 10 | €59,494 | €59,494 | = | 0.0% |
| Issued capital | 100 | €59,494 | €59,494 | = | 0.0% |
| Reserves | 13 | €875,031 | €914,374 | +€39,343 | +4.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €868,831 | €908,174 | +€39,343 | +4.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €981,336 | €836,623 | -€144,713 | -14.7% |
| Amounts payable after more than one year | 17 | €14,367 | €100,632 | +€86,265 | +600% |
| Financial debts | 170/4 | €14,367 | €100,632 | +€86,265 | +600% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €924,588 | €731,478 | -€193,110 | -20.9% |
| Current portion of amounts payable after more than one year | 42 | €56,328 | €41,170 | -€15,158 | -26.9% |
| Trade debts | 44 | €552,355 | €372,758 | -€179,597 | -32.5% |
| Suppliers | 440/4 | €552,355 | €372,758 | -€179,597 | -32.5% |
| Taxes, remuneration and social security | 45 | €79,981 | €81,813 | +€1,832 | +2.3% |
| Taxes | 450/3 | €26,754 | €28,052 | +€1,298 | +4.9% |
| Remuneration and social security | 454/9 | €53,227 | €53,761 | +€535 | +1.0% |
| Other amounts payable | 47/48 | €235,924 | €235,737 | -€187 | -0.1% |
| Accrued charges and deferred income | 492/3 | €42,381 | €4,513 | -€37,868 | -89.4% |
| Non-recurring operating income | 76A | - | €372 | +€372 | |
| Remuneration, social security and pensions | 62 | €624,470 | €634,312 | +€9,842 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,948 | €55,307 | -€4,641 | -7.7% |
| Other operating charges | 640/8 | €35,558 | €27,954 | -€7,604 | -21.4% |
| Non-recurring operating charges | 66A | €375 | €6,502 | +€6,127 | +1,634% |
| Gross operating margin | 9900 | €953,435 | €964,255 | +€10,820 | +1.1% |
| Operating profit (loss) | 9901 | €233,084 | €240,180 | +€7,096 | +3.0% |
| Financial income | 75/76B | €12,877 | €8,782 | -€4,095 | -31.8% |
| Recurring financial income | 75 | €12,877 | €8,782 | -€4,095 | -31.8% |
| Financial charges | 65/66B | €16,432 | €14,243 | -€2,189 | -13.3% |
| Recurring financial charges | 65 | €16,432 | €14,243 | -€2,189 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €229,529 | €234,719 | +€5,189 | +2.3% |
| Income taxes | 67/77 | €22,637 | €19,376 | -€3,261 | -14.4% |
| Profit (loss) for the period | 9904 | €206,893 | €215,343 | +€8,450 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €206,893 | €215,343 | +€8,450 | +4.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.