GEPA-TRANS: what changed
GEPA-TRANS
Largest movements
- Cash +€97,305
up €97,305 (+50.4%), from €193,013 to €290,319
mainly Depreciation (+€62,831) and Receivables within one year (+€54,596)
- Tangible fixed assets -€58,733
down €58,733 (-23.9%), from €246,034 to €187,301
of which Furniture and vehicles: -€59,947
- Receivables within one year -€54,596
down €54,596 (-48.6%), from €112,298 to €57,702
of which Other amounts receivable: -€67,216
- Current investments -€50,000
down €50,000 (-49.8%), from €100,500 to €50,500
- Deferred charges and accrued income -€11,640
down €11,640 (-66.9%), from €17,401 to €5,761
- Profit (loss) carried forward -€60,000
down €60,000 (-24.5%), from €245,393 to €185,393
- Debts after one year -€51,813
down €51,813 (-29.6%), from €175,055 to €123,242
- Reserves +€32,821
up €32,821 (+21.3%), from €153,847 to €186,667
- Current portion of long-term debt -€15,043
down €15,043 (-22.5%), from €66,856 to €51,813
- Tax, wage and social debts +€10,150
up €10,150 (+90.7%), from €11,188 to €21,338
of which Taxes: +€10,229
- Gross operating margin +€34,988
up €34,988 (+17.2%), from €202,938 to €237,926
- Depreciation +€20,949
up €20,949 (+50.0%), from €41,882 to €62,831
- Financial income +€7,761
up €7,761 (+384%), from €2,020 to €9,781
- Taxes +€6,700
up €6,700 (+66.9%), from €10,021 to €16,721
- Other operating charges +€4,488
up €4,488 (+12.0%), from €37,528 to €42,016
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €674,758 | €593,045 | -€81,713 | -12.1% |
| Fixed assets | 21/28 | €246,034 | €187,301 | -€58,733 | -23.9% |
| Tangible fixed assets | 22/27 | €246,034 | €187,301 | -€58,733 | -23.9% |
| Plant, machinery and equipment | 23 | €9,548 | €10,969 | +€1,421 | +14.9% |
| Furniture and vehicles | 24 | €236,279 | €176,332 | -€59,947 | -25.4% |
| Other tangible fixed assets | 26 | €207 | - | -€207 | |
| Current assets | 29/58 | €428,724 | €405,744 | -€22,980 | -5.4% |
| Stocks and contracts in progress | 3 | €5,511 | €1,462 | -€4,049 | -73.5% |
| Stocks | 30/36 | €5,511 | €1,462 | -€4,049 | -73.5% |
| Amounts receivable within one year | 40/41 | €112,298 | €57,702 | -€54,596 | -48.6% |
| Trade receivables | 40 | €24,514 | €37,133 | +€12,619 | +51.5% |
| Other amounts receivable | 41 | €87,784 | €20,569 | -€67,216 | -76.6% |
| Current investments | 50/53 | €100,500 | €50,500 | -€50,000 | -49.8% |
| Cash at bank and in hand | 54/58 | €193,013 | €290,319 | +€97,305 | +50.4% |
| Deferred charges and accrued income | 490/1 | €17,401 | €5,761 | -€11,640 | -66.9% |
| Total equity and liabilities | 10/49 | €674,758 | €593,045 | -€81,713 | -12.1% |
| Equity | 10/15 | €417,839 | €390,660 | -€27,179 | -6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,847 | €186,667 | +€32,821 | +21.3% |
| Distributable reserves | 133 | €153,847 | €186,667 | +€32,821 | +21.3% |
| Profit (loss) carried forward | 14 | €245,393 | €185,393 | -€60,000 | -24.5% |
| Amounts payable | 17/49 | €256,918 | €202,385 | -€54,534 | -21.2% |
| Amounts payable after more than one year | 17 | €175,055 | €123,242 | -€51,813 | -29.6% |
| Financial debts | 170/4 | €175,055 | €123,242 | -€51,813 | -29.6% |
| Amounts payable within one year | 42/48 | €81,864 | €79,143 | -€2,721 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €66,856 | €51,813 | -€15,043 | -22.5% |
| Financial debts | 43 | - | €3,081 | +€3,081 | |
| Credit institutions | 430/8 | - | €3,081 | +€3,081 | |
| Trade debts | 44 | €3,820 | €2,912 | -€909 | -23.8% |
| Suppliers | 440/4 | €3,820 | €2,912 | -€909 | -23.8% |
| Taxes, remuneration and social security | 45 | €11,188 | €21,338 | +€10,150 | +90.7% |
| Taxes | 450/3 | €2,838 | €13,067 | +€10,229 | +360% |
| Remuneration and social security | 454/9 | €8,350 | €8,271 | -€79 | -0.9% |
| Remuneration, social security and pensions | 62 | €79,163 | €82,032 | +€2,869 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,882 | €62,831 | +€20,949 | +50.0% |
| Other operating charges | 640/8 | €37,528 | €42,016 | +€4,488 | +12.0% |
| Gross operating margin | 9900 | €202,938 | €237,926 | +€34,988 | +17.2% |
| Operating profit (loss) | 9901 | €44,365 | €51,046 | +€6,681 | +15.1% |
| Financial income | 75/76B | €2,020 | €9,781 | +€7,761 | +384% |
| Recurring financial income | 75 | €2,020 | €9,781 | +€7,761 | +384% |
| Financial charges | 65/66B | €8,176 | €11,285 | +€3,109 | +38.0% |
| Recurring financial charges | 65 | €8,176 | €11,285 | +€3,109 | +38.0% |
| Profit (loss) for the period before taxes | 9903 | €38,208 | €49,542 | +€11,333 | +29.7% |
| Income taxes | 67/77 | €10,021 | €16,721 | +€6,700 | +66.9% |
| Profit (loss) for the period | 9904 | €28,187 | €32,821 | +€4,633 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,187 | €32,821 | +€4,633 | +16.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.