GENERALEC: what changed
Two fiscal 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.
GENERALEC
Largest movements
- Receivables within one year +€69,522
up €69,522 (+185.8%), from €37,411 to €106,933
of which Trade receivables: +€72,424
- Tangible fixed assets -€20,354
down €20,354 (-82.3%), from €24,718 to €4,364
of which Furniture and vehicles: -€21,944
- Cash -€12,526
down €12,526 (-71.2%), from €17,597 to €5,071
mainly Receivables within one year (-€69,522) and Debts after one year (-€29,311)
- Trade debts +€54,293
up €54,293 (+622.1%), from €8,728 to €63,021
- Debts after one year -€29,311
down €29,311 (-14.0%), from €209,306 to €179,996
- Tax, wage and social debts +€21,612
up €21,612 (+82.6%), from €26,159 to €47,771
of which Remuneration and social security: +€24,402
- Other debts -€9,647
down €9,647 (-16.6%), from €58,025 to €48,379
- Current portion of long-term debt -€6,080
down €6,080 (-36.7%), from €16,556 to €10,475
- Gross operating margin -€33,137
down €33,137 (-66.3%), from €49,994 to €16,857
- Staff costs -€11,713
down €11,713 (-100.0%), from €11,713 to €0
- Depreciation -€10,088
down €10,088 (-92.8%), from €10,875 to €787
- Other operating charges -€2,753
down €2,753 (-50.3%), from €5,472 to €2,719
- Taxes +€1,734
up €1,734 (+97.0%), from €1,787 to €3,521
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 | €460,484 | €492,292 | +€31,808 | +6.9% |
| Fixed assets | 21/28 | €24,718 | €4,364 | -€20,354 | -82.3% |
| Tangible fixed assets | 22/27 | €24,718 | €4,364 | -€20,354 | -82.3% |
| Plant, machinery and equipment | 23 | €512 | €2,102 | +€1,590 | +310.6% |
| Furniture and vehicles | 24 | €24,207 | €2,262 | -€21,944 | -90.7% |
| Current assets | 29/58 | €435,766 | €487,927 | +€52,162 | +12.0% |
| Stocks and contracts in progress | 3 | €378,144 | €375,923 | -€2,221 | -0.6% |
| Stocks | 30/36 | €378,144 | €375,923 | -€2,221 | -0.6% |
| Amounts receivable within one year | 40/41 | €37,411 | €106,933 | +€69,522 | +185.8% |
| Trade receivables | 40 | €31,077 | €103,501 | +€72,424 | +233.0% |
| Other amounts receivable | 41 | €6,334 | €3,432 | -€2,902 | -45.8% |
| Cash at bank and in hand | 54/58 | €17,597 | €5,071 | -€12,526 | -71.2% |
| Deferred charges and accrued income | 490/1 | €2,613 | €0 | -€2,613 | -100.0% |
| Total equity and liabilities | 10/49 | €460,484 | €492,292 | +€31,808 | +6.9% |
| Equity | 10/15 | €100,558 | €102,650 | +€2,093 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,660 | €81,660 | = | 0.0% |
| Non-distributable reserves | 130/1 | €73,660 | €73,660 | = | 0.0% |
| Reserves not available under the articles | 1311 | €73,660 | €73,660 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €298 | €2,390 | +€2,093 | +702.9% |
| Amounts payable | 17/49 | €359,926 | €389,641 | +€29,715 | +8.3% |
| Amounts payable after more than one year | 17 | €209,306 | €179,996 | -€29,311 | -14.0% |
| Financial debts | 170/4 | €209,306 | €179,996 | -€29,311 | -14.0% |
| Amounts payable within one year | 42/48 | €149,467 | €209,646 | +€60,178 | +40.3% |
| Current portion of amounts payable after more than one year | 42 | €16,556 | €10,475 | -€6,080 | -36.7% |
| Financial debts | 43 | €40,000 | €40,000 | = | 0.0% |
| Credit institutions | 430/8 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €8,728 | €63,021 | +€54,293 | +622.1% |
| Suppliers | 440/4 | €8,728 | €63,021 | +€54,293 | +622.1% |
| Taxes, remuneration and social security | 45 | €26,159 | €47,771 | +€21,612 | +82.6% |
| Taxes | 450/3 | €9,154 | €6,364 | -€2,790 | -30.5% |
| Remuneration and social security | 454/9 | €17,004 | €41,406 | +€24,402 | +143.5% |
| Other amounts payable | 47/48 | €58,025 | €48,379 | -€9,647 | -16.6% |
| Accrued charges and deferred income | 492/3 | €1,153 | €0 | -€1,153 | -100.0% |
| Non-recurring operating income | 76A | €11,157 | €16,386 | +€5,229 | +46.9% |
| Remuneration, social security and pensions | 62 | €11,713 | €0 | -€11,713 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,875 | €787 | -€10,088 | -92.8% |
| Other operating charges | 640/8 | €5,472 | €2,719 | -€2,753 | -50.3% |
| Gross operating margin | 9900 | €49,994 | €16,857 | -€33,137 | -66.3% |
| Operating profit (loss) | 9901 | €21,934 | €13,351 | -€8,583 | -39.1% |
| Financial income | 75/76B | €133 | €1 | -€133 | -99.6% |
| Recurring financial income | 75 | €133 | €1 | -€133 | -99.6% |
| Financial charges | 65/66B | €8,106 | €7,738 | -€368 | -4.5% |
| Recurring financial charges | 65 | €8,106 | €7,738 | -€368 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €13,961 | €5,614 | -€8,348 | -59.8% |
| Income taxes | 67/77 | €1,787 | €3,521 | +€1,734 | +97.0% |
| Profit (loss) for the period | 9904 | €12,174 | €2,093 | -€10,081 | -82.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,174 | €2,093 | -€10,081 | -82.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.