GELUWTRANS: 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.
GELUWTRANS
Largest movements
- Cash -€123,631
down €123,631 (-80.7%), from €153,170 to €29,539
mainly Contributions, distributions and other (-€136,000) and Investment in fixed assets (net) (-€99,130)
- Tangible fixed assets +€92,333
up €92,333 (+119%), from €77,639 to €169,972
of which Leasing and similar rights: +€160,654
- Deferred charges and accrued income +€19,452
up €19,452 (+196%), from €9,928 to €29,380
- Receivables within one year -€4,679
down €4,679 (-14.1%), from €33,115 to €28,436
of which Trade receivables: -€4,812
- Debts after one year +€125,043
up €125,043, from €0 to €125,043
- Reserves -€116,320
down €116,320 (-76.1%), from €152,758 to €36,439
- Other debts -€23,803
down €23,803 (-43.2%), from €55,133 to €31,329
- Tax, wage and social debts -€10,320
down €10,320 (-46.5%), from €22,187 to €11,866
- Current portion of long-term debt +€9,557
up €9,557 (+126%), from €7,611 to €17,168
- Gross operating margin -€46,210
down €46,210 (-45.1%), from €102,567 to €56,357
- Depreciation -€36,977
down €36,977 (-84.5%), from €43,774 to €6,798
- Taxes -€12,356
down €12,356 (-82.0%), from €15,064 to €2,709
- Provisions +€9,558
up €9,558, from -€9,558 to €0
- Other operating charges -€4,828
down €4,828 (-48.4%), from €9,965 to €5,137
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €273,852 | €257,327 | -€16,525 | -6.0% |
| Fixed assets | 21/28 | €77,639 | €169,972 | +€92,333 | +119% |
| Tangible fixed assets | 22/27 | €77,639 | €169,972 | +€92,333 | +119% |
| Plant, machinery and equipment | 23 | €2,088 | €768 | -€1,320 | -63.2% |
| Furniture and vehicles | 24 | €70,963 | €3,962 | -€67,001 | -94.4% |
| Leasing and similar rights | 25 | €4,588 | €165,242 | +€160,654 | +3,502% |
| Current assets | 29/58 | €196,214 | €87,356 | -€108,858 | -55.5% |
| Amounts receivable within one year | 40/41 | €33,115 | €28,436 | -€4,679 | -14.1% |
| Trade receivables | 40 | €32,745 | €27,934 | -€4,812 | -14.7% |
| Other amounts receivable | 41 | €370 | €502 | +€133 | +35.9% |
| Cash at bank and in hand | 54/58 | €153,170 | €29,539 | -€123,631 | -80.7% |
| Deferred charges and accrued income | 490/1 | €9,928 | €29,380 | +€19,452 | +196% |
| Total equity and liabilities | 10/49 | €273,852 | €257,327 | -€16,525 | -6.0% |
| Equity | 10/15 | €171,358 | €55,039 | -€116,320 | -67.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €152,758 | €36,439 | -€116,320 | -76.1% |
| Distributable reserves | 133 | €152,758 | €36,439 | -€116,320 | -76.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €102,494 | €202,289 | +€99,795 | +97.4% |
| Amounts payable after more than one year | 17 | €0 | €125,043 | +€125,043 | |
| Financial debts | 170/4 | €0 | €125,043 | +€125,043 | |
| Amounts payable within one year | 42/48 | €102,494 | €77,246 | -€25,248 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €7,611 | €17,168 | +€9,557 | +126% |
| Trade debts | 44 | €17,563 | €16,882 | -€681 | -3.9% |
| Suppliers | 440/4 | €17,563 | €16,882 | -€681 | -3.9% |
| Taxes, remuneration and social security | 45 | €22,187 | €11,866 | -€10,320 | -46.5% |
| Taxes | 450/3 | €22,187 | €11,866 | -€10,320 | -46.5% |
| Other amounts payable | 47/48 | €55,133 | €31,329 | -€23,803 | -43.2% |
| Non-recurring operating income | 76A | €0 | €22,807 | +€22,807 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,774 | €6,798 | -€36,977 | -84.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€9,558 | €0 | +€9,558 | |
| Other operating charges | 640/8 | €9,965 | €5,137 | -€4,828 | -48.4% |
| Non-recurring operating charges | 66A | €526 | €16,646 | +€16,120 | +3,065% |
| Gross operating margin | 9900 | €102,567 | €56,357 | -€46,210 | -45.1% |
| Operating profit (loss) | 9901 | €57,860 | €27,777 | -€30,083 | -52.0% |
| Financial income | 75/76B | €262 | €197 | -€66 | -25.0% |
| Recurring financial income | 75 | €262 | €197 | -€66 | -25.0% |
| Financial charges | 65/66B | €6,005 | €5,585 | -€420 | -7.0% |
| Recurring financial charges | 65 | €6,005 | €5,585 | -€420 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €52,117 | €22,389 | -€29,729 | -57.0% |
| Income taxes | 67/77 | €15,064 | €2,709 | -€12,356 | -82.0% |
| Profit (loss) for the period | 9904 | €37,053 | €19,680 | -€17,373 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,053 | €19,680 | -€17,373 | -46.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.