GENKO: 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.
GENKO
Largest movements
- Cash -€90,565
down €90,565 (-99.7%), from €90,808 to €244
mainly Current portion of long-term debt (-€90,646) and Investment in fixed assets (net) (-€86,186)
- Intangible fixed assets +€79,456
up €79,456 (+120.4%), from €66,004 to €145,460
- Receivables within one year -€16,488
down €16,488 (-63.6%), from €25,945 to €9,457
of which Trade receivables: -€20,000
- Tangible fixed assets -€3,442
down €3,442 (-39.8%), from €8,644 to €5,203
- Current portion of long-term debt -€90,646
down €90,646 (-64.3%), from €140,965 to €50,319
- Debts after one year +€88,238
up €88,238 (+226.0%), from €39,035 to €127,273
- Profit (loss) carried forward -€56,510
down €56,510 (-89.7%), from -€63,005 to -€119,515
- Tax, wage and social debts +€10,507
up €10,507 (+22.6%), from €46,539 to €57,046
of which Remuneration and social security: +€23,935
- Other debts +€9,785
up €9,785 (+64.2%), from €15,233 to €25,019
- Staff costs +€36,435
up €36,435 (+19.9%), from €182,808 to €219,243
- Depreciation +€8,623
up €8,623 (+556.9%), from €1,549 to €10,172
- Gross operating margin -€8,527
down €8,527 (-4.3%), from €196,800 to €188,273
- Other operating charges +€1,994
up €1,994 (+264.9%), from €753 to €2,746
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 | €197,002 | €166,792 | -€30,209 | -15.3% |
| Fixed assets | 21/28 | €80,248 | €156,263 | +€76,014 | +94.7% |
| Intangible fixed assets | 21 | €66,004 | €145,460 | +€79,456 | +120.4% |
| Tangible fixed assets | 22/27 | €8,644 | €5,203 | -€3,442 | -39.8% |
| Furniture and vehicles | 24 | €8,644 | €5,203 | -€3,442 | -39.8% |
| Financial fixed assets | 28 | €5,600 | €5,600 | = | 0.0% |
| Current assets | 29/58 | €116,753 | €10,530 | -€106,224 | -91.0% |
| Amounts receivable within one year | 40/41 | €25,945 | €9,457 | -€16,488 | -63.6% |
| Trade receivables | 40 | €25,945 | €5,945 | -€20,000 | -77.1% |
| Other amounts receivable | 41 | - | €3,512 | +€3,512 | |
| Cash at bank and in hand | 54/58 | €90,808 | €244 | -€90,565 | -99.7% |
| Deferred charges and accrued income | 490/1 | - | €829 | +€829 | |
| Total equity and liabilities | 10/49 | €197,002 | €166,792 | -€30,209 | -15.3% |
| Equity | 10/15 | -€53,005 | -€109,515 | -€56,510 | -106.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,005 | -€119,515 | -€56,510 | -89.7% |
| Amounts payable | 17/49 | €250,006 | €276,308 | +€26,301 | +10.5% |
| Amounts payable after more than one year | 17 | €39,035 | €127,273 | +€88,238 | +226.0% |
| Financial debts | 170/4 | €39,035 | €127,273 | +€88,238 | +226.0% |
| Amounts payable within one year | 42/48 | €210,971 | €149,035 | -€61,937 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €140,965 | €50,319 | -€90,646 | -64.3% |
| Financial debts | 43 | - | €7,850 | +€7,850 | |
| Credit institutions | 430/8 | - | €7,850 | +€7,850 | |
| Trade debts | 44 | €8,234 | €8,801 | +€568 | +6.9% |
| Suppliers | 440/4 | €8,234 | €8,801 | +€568 | +6.9% |
| Taxes, remuneration and social security | 45 | €46,539 | €57,046 | +€10,507 | +22.6% |
| Taxes | 450/3 | €19,172 | €5,743 | -€13,429 | -70.0% |
| Remuneration and social security | 454/9 | €27,368 | €51,303 | +€23,935 | +87.5% |
| Other amounts payable | 47/48 | €15,233 | €25,019 | +€9,785 | +64.2% |
| Remuneration, social security and pensions | 62 | €182,808 | €219,243 | +€36,435 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,549 | €10,172 | +€8,623 | +556.9% |
| Other operating charges | 640/8 | €753 | €2,746 | +€1,994 | +264.9% |
| Gross operating margin | 9900 | €196,800 | €188,273 | -€8,527 | -4.3% |
| Operating profit (loss) | 9901 | €11,691 | -€43,888 | -€55,579 | |
| Financial income | 75/76B | €1 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -98.0% |
| Financial charges | 65/66B | €9,525 | €11,316 | +€1,791 | +18.8% |
| Recurring financial charges | 65 | €9,525 | €11,316 | +€1,791 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €2,166 | -€55,204 | -€57,370 | |
| Income taxes | 67/77 | €1,186 | €1,307 | +€120 | +10.2% |
| Profit (loss) for the period | 9904 | €980 | -€56,510 | -€57,491 | |
| Profit (loss) for the period to be appropriated | 9905 | €980 | -€56,510 | -€57,491 |
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.