GEPASSO: 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.
GEPASSO
Largest movements
- Tangible fixed assets -€66,598
down €66,598 (-13.1%), from €507,553 to €440,955
of which Land and buildings: -€60,202
- Cash +€5,691
up €5,691 (+134.2%), from €4,239 to €9,930
mainly Depreciation (+€66,598) and Tax, wage and social debts (+€6,617)
- Profit (loss) carried forward -€28,454
down €28,454 (-85.1%), from -€33,430 to -€61,884
- Debts after one year -€27,439
down €27,439 (-6.1%), from €448,033 to €420,594
- Other debts -€14,171
down €14,171 (-34.8%), from €40,746 to €26,576
- Tax, wage and social debts +€6,617
up €6,617 (+88.1%), from €7,507 to €14,124
of which Remuneration and social security: +€6,241
- Gross operating margin +€41,601
up €41,601 (+55.2%), from €75,369 to €116,970
- Staff costs +€9,590
up €9,590 (+19.5%), from €49,210 to €58,800
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 | €513,008 | €451,055 | -€61,953 | -12.1% |
| Fixed assets | 21/28 | €507,553 | €440,955 | -€66,598 | -13.1% |
| Tangible fixed assets | 22/27 | €507,553 | €440,955 | -€66,598 | -13.1% |
| Land and buildings | 22 | €488,479 | €428,277 | -€60,202 | -12.3% |
| Plant, machinery and equipment | 23 | €4,755 | €3,262 | -€1,494 | -31.4% |
| Furniture and vehicles | 24 | €14,319 | €9,416 | -€4,903 | -34.2% |
| Current assets | 29/58 | €5,455 | €10,100 | +€4,644 | +85.1% |
| Amounts receivable within one year | 40/41 | €107 | - | -€107 | |
| Trade receivables | 40 | €107 | - | -€107 | |
| Cash at bank and in hand | 54/58 | €4,239 | €9,930 | +€5,691 | +134.2% |
| Deferred charges and accrued income | 490/1 | €1,109 | €169 | -€939 | -84.7% |
| Total equity and liabilities | 10/49 | €513,008 | €451,055 | -€61,953 | -12.1% |
| Equity | 10/15 | -€10,550 | -€39,004 | -€28,454 | -269.7% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €16,675 | €16,675 | = | 0.0% |
| Distributable reserves | 133 | €16,675 | €16,675 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,430 | -€61,884 | -€28,454 | -85.1% |
| Amounts payable | 17/49 | €523,558 | €490,059 | -€33,499 | -6.4% |
| Amounts payable after more than one year | 17 | €448,033 | €420,594 | -€27,439 | -6.1% |
| Financial debts | 170/4 | €448,033 | €420,594 | -€27,439 | -6.1% |
| Amounts payable within one year | 42/48 | €75,525 | €69,465 | -€6,060 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €26,457 | €27,439 | +€982 | +3.7% |
| Trade debts | 44 | €815 | €1,327 | +€512 | +62.8% |
| Suppliers | 440/4 | €815 | €1,327 | +€512 | +62.8% |
| Taxes, remuneration and social security | 45 | €7,507 | €14,124 | +€6,617 | +88.1% |
| Taxes | 450/3 | €388 | €764 | +€376 | +96.7% |
| Remuneration and social security | 454/9 | €7,119 | €13,360 | +€6,241 | +87.7% |
| Other amounts payable | 47/48 | €40,746 | €26,576 | -€14,171 | -34.8% |
| Remuneration, social security and pensions | 62 | €49,210 | €58,800 | +€9,590 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,011 | €66,598 | +€587 | +0.9% |
| Other operating charges | 640/8 | €2,729 | €2,814 | +€84 | +3.1% |
| Gross operating margin | 9900 | €75,369 | €116,970 | +€41,601 | +55.2% |
| Operating profit (loss) | 9901 | -€42,581 | -€11,241 | +€31,340 | +73.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €18,227 | €17,213 | -€1,014 | -5.6% |
| Recurring financial charges | 65 | €18,227 | €17,213 | -€1,014 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€60,807 | -€28,454 | +€32,352 | +53.2% |
| Profit (loss) for the period | 9904 | -€60,807 | -€28,454 | +€32,352 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,807 | -€28,454 | +€32,352 | +53.2% |
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 8 October 2026 via checked.be.