GEPEC: what changed
What changed
GEPEC
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€525,035
2024 · €118,719+€406,316
Equity
€2.0m
2024 · €1.4m+€525,035
Cash
€270,185
2024 · €212,950+€57,234
Balance sheet total
€2.5m
2024 · €1.5m+€986,075
Largest movements
Assets
- Financial fixed assets +€944,425
up €944,425 (+82.3%), from €1.1m to €2.1m
- Cash +€57,234
up €57,234 (+26.9%), from €212,950 to €270,185
mainly Net result for the year (+€525,035) and Other debts (+€260,941)
Equity and liabilities
- Profit (loss) carried forward +€525,035
up €525,035 (+41.1%), from €1.3m to €1.8m
- Other debts +€260,941
up €260,941, from €0 to €260,941
- Debts after one year +€100,000
new in 2025: €100,000
- Current portion of long-term debt +€100,000
new in 2025: €100,000
Income statement
- Financial income +€400,592
up €400,592 (+10,156%), from €3,944 to €404,536
- Turnover +€14,280
up €14,280 (+3.8%), from €371,520 to €385,800
- Staff costs +€5,268
up €5,268 (+9.6%), from €54,708 to €59,976
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.
Result 2024
€118,719
Turnover
+€14,280
Other operating income
-€461
Services and other goods
+€1,562
Staff costs
-€5,268
Depreciation
-€1,571
Other operating charges
-€31
Financial income
+€400,592
Financial charges
-€2,651
Taxes
-€137
Result 2025
€525,035
raises the resultlowers the result
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.
From operations
+€821,324
Investment
-€964,090
Financing
+€200,000
Cash 2024
€212,950
From operations (derived)
+€821,324
Net result for the year
+€525,035
Depreciation
+€12,681
Receivables within one year
+€23,285
Smaller working-capital items
+€978
Trade debts
-€4,043
Other debts
+€260,941
Accrued charges and deferred income
+€2,448
Investment (derived)
-€964,090
Investment in fixed assets (net)
-€964,090
Financing
+€200,000
Debts after one year
+€100,000
Current portion of long-term debt
+€100,000
Cash 2025
€270,185
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,479,205 | €2,465,280 | +€986,075 | +66.7% |
| Fixed assets | 21/28 | €1,200,626 | €2,152,036 | +€951,409 | +79.2% |
| Tangible fixed assets | 22/27 | €53,226 | €60,211 | +€6,984 | +13.1% |
| Land and buildings | 22 | €21,352 | €20,128 | -€1,225 | -5.7% |
| Plant, machinery and equipment | 23 | €5,503 | €3,993 | -€1,510 | -27.4% |
| Furniture and vehicles | 24 | €26,371 | €36,090 | +€9,719 | +36.9% |
| Financial fixed assets | 28 | €1,147,400 | €2,091,825 | +€944,425 | +82.3% |
| Companies linked by participating interests | 282/3 | €1,147,400 | €2,091,825 | +€944,425 | +82.3% |
| Participating interests | 282 | €1,147,400 | €2,091,825 | +€944,425 | +82.3% |
| Current assets | 29/58 | €278,578 | €313,244 | +€34,666 | +12.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €65,628 | €42,343 | -€23,285 | -35.5% |
| Trade receivables | 40 | €10,911 | €42,343 | +€31,432 | +288% |
| Other amounts receivable | 41 | €54,717 | €0 | -€54,717 | -100% |
| Cash at bank and in hand | 54/58 | €212,950 | €270,185 | +€57,234 | +26.9% |
| Deferred charges and accrued income | 490/1 | €0 | €717 | +€717 | |
| Total equity and liabilities | 10/49 | €1,479,205 | €2,465,280 | +€986,075 | +66.7% |
| Equity | 10/15 | €1,441,177 | €1,966,211 | +€525,035 | +36.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,276,177 | €1,801,211 | +€525,035 | +41.1% |
| Amounts payable | 17/49 | €38,028 | €499,069 | +€461,041 | +1,212% |
| Amounts payable after more than one year | 17 | - | €100,000 | +€100,000 | |
| Financial debts | 170/4 | - | €100,000 | +€100,000 | |
| Credit institutions | 173 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €35,308 | €393,901 | +€358,593 | +1,016% |
| Current portion of amounts payable after more than one year | 42 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €8,058 | €4,015 | -€4,043 | -50.2% |
| Suppliers | 440/4 | €8,058 | €4,015 | -€4,043 | -50.2% |
| Taxes, remuneration and social security | 45 | €27,250 | €28,945 | +€1,695 | +6.2% |
| Taxes | 450/3 | €18,250 | €19,945 | +€1,695 | +9.3% |
| Remuneration and social security | 454/9 | €8,999 | €8,999 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €0 | €260,941 | +€260,941 | |
| Accrued charges and deferred income | 492/3 | €2,720 | €5,168 | +€2,448 | +90.0% |
| Operating income | 70/76A | €372,688 | €386,507 | +€13,819 | +3.7% |
| Turnover | 70 | €371,520 | €385,800 | +€14,280 | +3.8% |
| Other operating income | 74 | €1,168 | €707 | -€461 | -39.4% |
| Operating charges | 60/66A | €217,054 | €222,361 | +€5,307 | +2.4% |
| Services and other goods | 61 | €150,268 | €148,706 | -€1,562 | -1.0% |
| Remuneration, social security and pensions | 62 | €54,708 | €59,976 | +€5,268 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,110 | €12,681 | +€1,571 | +14.1% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | €155,634 | €164,146 | +€8,512 | +5.5% |
| Financial income | 75/76B | €3,944 | €404,536 | +€400,592 | +10,156% |
| Recurring financial income | 75 | €3,944 | €404,536 | +€400,592 | +10,156% |
| Income from financial fixed assets | 750 | - | €403,226 | +€403,226 | |
| Income from current assets | 751 | €3,944 | €1,238 | -€2,707 | -68.6% |
| Other financial income | 752/9 | - | €73 | +€73 | |
| Financial charges | 65/66B | €392 | €3,042 | +€2,651 | +677% |
| Recurring financial charges | 65 | €392 | €3,042 | +€2,651 | +677% |
| Debt charges | 650 | €157 | €2,693 | +€2,536 | +1,611% |
| Other financial charges | 652/9 | €234 | €349 | +€115 | +49.2% |
| Profit (loss) for the period before taxes | 9903 | €159,186 | €565,640 | +€406,453 | +255% |
| Income taxes | 67/77 | €40,468 | €40,605 | +€137 | +0.3% |
| Taxes | 670/3 | €40,468 | €40,605 | +€137 | +0.3% |
| Profit (loss) for the period | 9904 | €118,719 | €525,035 | +€406,316 | +342% |
| Profit (loss) for the period to be appropriated | 9905 | €118,719 | €525,035 | +€406,316 | +342% |
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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 8 November 2026 via checked.be.