GePeGoed: what changed
Two financial 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.
GePeGoed
Largest movements
- Stocks and contracts +€157,538
up €157,538 (+24.3%), from €646,979 to €804,517
- Cash +€127,275
up €127,275 (+1492.1%), from €8,530 to €135,805
mainly Short-term financial debts (+€132,370) and Debts after one year (+€119,317)
- Receivables within one year -€42,567
down €42,567 (-24.1%), from €176,434 to €133,868
of which Other amounts receivable: -€42,567
- Deferred charges and accrued income -€25,000
no longer reported in 2025 (was €25,000)
- Tangible fixed assets -€23,776
down €23,776 (-2.6%), from €905,371 to €881,595
of which Land and buildings: -€23,032
- Short-term financial debts +€132,370
up €132,370 (+22.5%), from €587,126 to €719,496
- Debts after one year +€119,317
up €119,317 (+19.0%), from €627,253 to €746,570
of which Financial debts: +€69,317
- Trade debts -€89,913
down €89,913 (-46.3%), from €194,029 to €104,116
- Other debts +€43,656
up €43,656 (+23.8%), from €183,338 to €226,995
- Tax, wage and social debts -€26,815
down €26,815 (-45.8%), from €58,545 to €31,730
- Financial charges +€14,356
up €14,356 (+55.7%), from €25,764 to €40,121
- Gross operating margin +€14,106
up €14,106 (+24.4%), from €57,761 to €71,867
- Other operating charges +€9,161
up €9,161 (+1155.1%), from €793 to €9,955
- Taxes -€2,541
no longer reported in 2025 (was €2,541)
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 | €1,964,214 | €2,157,684 | +€193,471 | +9.8% |
| Fixed assets | 21/28 | €1,107,271 | €1,083,495 | -€23,776 | -2.1% |
| Tangible fixed assets | 22/27 | €905,371 | €881,595 | -€23,776 | -2.6% |
| Land and buildings | 22 | €904,627 | €881,595 | -€23,032 | -2.5% |
| Furniture and vehicles | 24 | €743 | - | -€743 | |
| Financial fixed assets | 28 | €201,900 | €201,900 | = | 0.0% |
| Current assets | 29/58 | €856,943 | €1,074,189 | +€217,246 | +25.4% |
| Stocks and contracts in progress | 3 | €646,979 | €804,517 | +€157,538 | +24.3% |
| Stocks | 30/36 | €646,979 | €804,517 | +€157,538 | +24.3% |
| Amounts receivable within one year | 40/41 | €176,434 | €133,868 | -€42,567 | -24.1% |
| Trade receivables | 40 | €13,837 | €13,837 | = | 0.0% |
| Other amounts receivable | 41 | €162,597 | €120,031 | -€42,567 | -26.2% |
| Cash at bank and in hand | 54/58 | €8,530 | €135,805 | +€127,275 | +1492.1% |
| Deferred charges and accrued income | 490/1 | €25,000 | - | -€25,000 | |
| Total equity and liabilities | 10/49 | €1,964,214 | €2,157,684 | +€193,471 | +9.8% |
| Equity | 10/15 | €268,908 | €266,924 | -€1,984 | -0.7% |
| Contributions | 10/11 | €123,000 | €123,000 | = | 0.0% |
| Capital | 10 | €123,000 | €123,000 | = | 0.0% |
| Issued capital | 100 | €123,000 | €123,000 | = | 0.0% |
| Reserves | 13 | €145,908 | €145,908 | = | 0.0% |
| Distributable reserves | 133 | €145,908 | €145,908 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,984 | -€1,984 | |
| Amounts payable | 17/49 | €1,695,306 | €1,890,760 | +€195,454 | +11.5% |
| Amounts payable after more than one year | 17 | €627,253 | €746,570 | +€119,317 | +19.0% |
| Financial debts | 170/4 | €627,253 | €696,570 | +€69,317 | +11.1% |
| Other amounts payable | 178/9 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €1,061,562 | €1,137,699 | +€76,138 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €38,523 | €55,363 | +€16,840 | +43.7% |
| Financial debts | 43 | €587,126 | €719,496 | +€132,370 | +22.5% |
| Credit institutions | 430/8 | €587,126 | €719,496 | +€132,370 | +22.5% |
| Trade debts | 44 | €194,029 | €104,116 | -€89,913 | -46.3% |
| Suppliers | 440/4 | €194,029 | €104,116 | -€89,913 | -46.3% |
| Taxes, remuneration and social security | 45 | €58,545 | €31,730 | -€26,815 | -45.8% |
| Taxes | 450/3 | €58,545 | €31,730 | -€26,815 | -45.8% |
| Other amounts payable | 47/48 | €183,338 | €226,995 | +€43,656 | +23.8% |
| Accrued charges and deferred income | 492/3 | €6,491 | €6,491 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,322 | €23,776 | -€546 | -2.2% |
| Other operating charges | 640/8 | €793 | €9,955 | +€9,161 | +1155.1% |
| Gross operating margin | 9900 | €57,761 | €71,867 | +€14,106 | +24.4% |
| Operating profit (loss) | 9901 | €32,646 | €38,137 | +€5,491 | +16.8% |
| Financial charges | 65/66B | €25,764 | €40,121 | +€14,356 | +55.7% |
| Recurring financial charges | 65 | €25,764 | €40,121 | +€14,356 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €6,882 | -€1,984 | -€8,865 | |
| Income taxes | 67/77 | €2,541 | - | -€2,541 | |
| Profit (loss) for the period | 9904 | €4,340 | -€1,984 | -€6,324 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,340 | -€1,984 | -€6,324 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.