GENCO: 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.
GENCO
Largest movements
- Tangible fixed assets +€1.6m
up €1.6m (+43.5%), from €3.8m to €5.4m
of which Land and buildings: +€1.7m
- Stocks and contracts -€1.1m
down €1.1m (-37.3%), from €3.0m to €1.9m
- Cash +€201,422
up €201,422 (+4594.1%), from €4,384 to €205,806
mainly Debts after one year (+€1.3m) and Stocks and contracts (+€1.1m)
- Receivables within one year -€118,684
down €118,684 (-51.7%), from €229,617 to €110,934
of which Other amounts receivable: -€76,060
- Debts after one year +€1.3m
up €1.3m (+41.6%), from €3.0m to €4.3m
of which Other amounts payable: +€752,617
- Short-term financial debts -€310,535
down €310,535 (-15.0%), from €2.1m to €1.8m
- Trade debts -€298,964
down €298,964 (-79.5%), from €375,824 to €76,860
- Other debts -€190,705
down €190,705 (-63.9%), from €298,497 to €107,792
- Tax, wage and social debts +€84,817
up €84,817 (+961.2%), from €8,824 to €93,641
- Financial charges +€34,031
up €34,031 (+95.0%), from €35,817 to €69,848
- Taxes +€31,646
up €31,646 (+601.9%), from €5,258 to €36,904
- Other operating charges +€20,342
up €20,342 (+107.2%), from €18,982 to €39,324
- Gross operating margin -€16,496
down €16,496 (-8.4%), from €196,908 to €180,412
- Depreciation +€11,930
up €11,930 (+13.3%), from €89,558 to €101,488
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 | €7,049,107 | €7,644,141 | +€595,034 | +8.4% |
| Fixed assets | 21/28 | €3,782,428 | €5,426,096 | +€1.6m | +43.5% |
| Tangible fixed assets | 22/27 | €3,782,428 | €5,426,096 | +€1.6m | +43.5% |
| Land and buildings | 22 | €3,257,854 | €4,913,350 | +€1.7m | +50.8% |
| Plant, machinery and equipment | 23 | €95,589 | €83,762 | -€11,827 | -12.4% |
| Assets under construction and advance payments | 27 | €428,985 | €428,985 | = | 0.0% |
| Current assets | 29/58 | €3,266,679 | €2,218,045 | -€1.0m | -32.1% |
| Stocks and contracts in progress | 3 | €3,027,841 | €1,897,838 | -€1.1m | -37.3% |
| Stocks | 30/36 | €3,027,841 | €1,897,838 | -€1.1m | -37.3% |
| Amounts receivable within one year | 40/41 | €229,617 | €110,934 | -€118,684 | -51.7% |
| Trade receivables | 40 | €131,324 | €88,700 | -€42,623 | -32.5% |
| Other amounts receivable | 41 | €98,294 | €22,233 | -€76,060 | -77.4% |
| Cash at bank and in hand | 54/58 | €4,384 | €205,806 | +€201,422 | +4594.1% |
| Deferred charges and accrued income | 490/1 | €4,837 | €3,467 | -€1,370 | -28.3% |
| Total equity and liabilities | 10/49 | €7,049,107 | €7,644,141 | +€595,034 | +8.4% |
| Equity | 10/15 | €1,044,559 | €977,491 | -€67,068 | -6.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €953,807 | €939,492 | -€14,316 | -1.5% |
| Reserves | 13 | €28,751 | €6,200 | -€22,551 | -78.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €22,551 | - | -€22,551 | |
| Profit (loss) carried forward | 14 | - | -€30,201 | -€30,201 | |
| Amounts payable | 17/49 | €6,004,548 | €6,666,650 | +€662,102 | +11.0% |
| Amounts payable after more than one year | 17 | €3,016,000 | €4,271,443 | +€1.3m | +41.6% |
| Financial debts | 170/4 | €1,317,579 | €1,820,405 | +€502,826 | +38.2% |
| Other amounts payable | 178/9 | €1,698,421 | €2,451,038 | +€752,617 | +44.3% |
| Amounts payable within one year | 42/48 | €2,893,815 | €2,229,746 | -€664,069 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €136,135 | €187,454 | +€51,319 | +37.7% |
| Financial debts | 43 | €2,074,535 | €1,764,000 | -€310,535 | -15.0% |
| Credit institutions | 430/8 | €2,074,535 | €1,764,000 | -€310,535 | -15.0% |
| Trade debts | 44 | €375,824 | €76,860 | -€298,964 | -79.5% |
| Suppliers | 440/4 | €375,824 | €76,860 | -€298,964 | -79.5% |
| Taxes, remuneration and social security | 45 | €8,824 | €93,641 | +€84,817 | +961.2% |
| Taxes | 450/3 | €8,824 | €93,641 | +€84,817 | +961.2% |
| Other amounts payable | 47/48 | €298,497 | €107,792 | -€190,705 | -63.9% |
| Accrued charges and deferred income | 492/3 | €94,733 | €165,460 | +€70,727 | +74.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,558 | €101,488 | +€11,930 | +13.3% |
| Other operating charges | 640/8 | €18,982 | €39,324 | +€20,342 | +107.2% |
| Gross operating margin | 9900 | €196,908 | €180,412 | -€16,496 | -8.4% |
| Operating profit (loss) | 9901 | €88,367 | €39,600 | -€48,768 | -55.2% |
| Financial income | 75/76B | €12 | €84 | +€72 | +613.0% |
| Recurring financial income | 75 | €12 | €84 | +€72 | +613.0% |
| Financial charges | 65/66B | €35,817 | €69,848 | +€34,031 | +95.0% |
| Recurring financial charges | 65 | €35,817 | €69,848 | +€34,031 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | €52,562 | -€30,164 | -€82,727 | |
| Income taxes | 67/77 | €5,258 | €36,904 | +€31,646 | +601.9% |
| Profit (loss) for the period | 9904 | €47,304 | -€67,068 | -€114,373 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,304 | -€67,068 | -€114,373 |
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 10 October 2026 via checked.be.