GELKA: 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.
GELKA
Largest movements
- Cash +€21,774
up €21,774 (+39,424%), from €55 to €21,829
mainly Trade debts (+€22,391) and Receivables within one year (+€11,840)
- Tangible fixed assets +€19,339
up €19,339 (+15.5%), from €124,388 to €143,727
of which Assets under construction and advance payments: +€19,339
- Receivables within one year -€11,840
down €11,840 (-18.8%), from €63,082 to €51,242
of which Trade receivables: -€14,424
- Trade debts +€22,391
up €22,391 (+1,860%), from €1,204 to €23,595
- Current portion of long-term debt +€11,507
up €11,507 (+108%), from €10,701 to €22,207
- Profit (loss) carried forward -€5,455
down €5,455 (-7.1%), from €76,834 to €71,380
- Gross operating margin -€19,010
down €19,010 (-74.1%), from €25,670 to €6,660
- Other operating charges -€5,032
down €5,032 (-44.0%), from €11,430 to €6,399
- Taxes -€2,148
no longer reported in 2025 (was €2,148)
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 | €204,491 | €233,780 | +€29,288 | +14.3% |
| Fixed assets | 21/28 | €124,388 | €143,727 | +€19,339 | +15.5% |
| Tangible fixed assets | 22/27 | €124,388 | €143,727 | +€19,339 | +15.5% |
| Land and buildings | 22 | €36,100 | €36,100 | = | 0.0% |
| Assets under construction and advance payments | 27 | €88,288 | €107,627 | +€19,339 | +21.9% |
| Current assets | 29/58 | €80,103 | €90,053 | +€9,950 | +12.4% |
| Amounts receivable within one year | 40/41 | €63,082 | €51,242 | -€11,840 | -18.8% |
| Trade receivables | 40 | €29,903 | €15,479 | -€14,424 | -48.2% |
| Other amounts receivable | 41 | €33,179 | €35,763 | +€2,584 | +7.8% |
| Cash at bank and in hand | 54/58 | €55 | €21,829 | +€21,774 | +39,424% |
| Deferred charges and accrued income | 490/1 | €16,966 | €16,982 | +€16 | +0.1% |
| Total equity and liabilities | 10/49 | €204,491 | €233,780 | +€29,288 | +14.3% |
| Equity | 10/15 | €97,294 | €91,840 | -€5,455 | -5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,834 | €71,380 | -€5,455 | -7.1% |
| Amounts payable | 17/49 | €107,197 | €141,940 | +€34,743 | +32.4% |
| Amounts payable after more than one year | 17 | €52,850 | €53,695 | +€845 | +1.6% |
| Financial debts | 170/4 | €52,850 | €53,695 | +€845 | +1.6% |
| Amounts payable within one year | 42/48 | €54,347 | €88,245 | +€33,898 | +62.4% |
| Current portion of amounts payable after more than one year | 42 | €10,701 | €22,207 | +€11,507 | +108% |
| Trade debts | 44 | €1,204 | €23,595 | +€22,391 | +1,860% |
| Suppliers | 440/4 | €1,204 | €23,595 | +€22,391 | +1,860% |
| Taxes, remuneration and social security | 45 | €97 | €97 | = | 0.0% |
| Taxes | 450/3 | €97 | €97 | = | 0.0% |
| Other amounts payable | 47/48 | €42,345 | €42,345 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,488 | €3,549 | +€61 | +1.8% |
| Other operating charges | 640/8 | €11,430 | €6,399 | -€5,032 | -44.0% |
| Gross operating margin | 9900 | €25,670 | €6,660 | -€19,010 | -74.1% |
| Operating profit (loss) | 9901 | €10,752 | -€3,288 | -€14,040 | |
| Financial charges | 65/66B | €2,051 | €2,167 | +€116 | +5.6% |
| Recurring financial charges | 65 | €2,051 | €2,167 | +€116 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €8,701 | -€5,455 | -€14,155 | |
| Income taxes | 67/77 | €2,148 | - | -€2,148 | |
| Profit (loss) for the period | 9904 | €6,552 | -€5,455 | -€12,007 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,552 | -€5,455 | -€12,007 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.