Gephuras: 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.
What changed
Gephuras
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€26,374
2024 · €615,395-€589,021
Equity
€8.6m
2024 · €8.6m+€26,374
Cash
€116,906
2024 · €252,132-€135,226
Balance sheet total
€12.2m
2024 · €12.1m+€102,319
Largest movements
Assets
- Financial fixed assets +€153,736
up €153,736 (+1.5%), from €10.0m to €10.1m
- Receivables within one year +€139,808
up €139,808 (+23.9%), from €584,865 to €724,673
of which Trade receivables: +€99,164
- Cash -€135,226
down €135,226 (-53.6%), from €252,132 to €116,906
mainly Receivables within one year (-€139,808) and Investment in fixed assets (net) (-€131,703)
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€550,440
down €550,440 (-76.5%), from €719,573 to €169,132
- Staff costs -€48,241
down €48,241 (-64.2%), from €75,158 to €26,916
- Services and other goods +€34,215
up €34,215 (+25.8%), from €132,565 to €166,781
- Turnover -€20,000
down €20,000 (-19.2%), from €104,000 to €84,000
- Other operating income -€15,497
down €15,497 (-17.5%), from €88,448 to €72,950
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.
Result 2024
€615,395
Turnover
-€20,000
Other operating income
-€15,497
Goods and materials
-€2,445
Services and other goods
-€34,215
Staff costs
+€48,241
Depreciation
+€881
Other operating charges
+€310
Other operating items
-€12,085
Financial income
-€550,440
Financial charges
+€5,570
Taxes
-€9,340
Result 2025
€26,374
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.
From operations
+€31,477
Investment
-€131,703
Financing
-€35,000
Cash 2024
€252,132
From operations (derived)
+€31,477
Net result for the year
+€26,374
Depreciation
+€33,966
Receivables within one year
-€139,808
Trade debts
+€24,313
Tax, wage and social debts
-€7,236
Accrued charges and deferred income
+€93,869
Investment (derived)
-€131,703
Investment in fixed assets (net)
-€131,703
Financing
-€35,000
Debts after one year
-€35,000
Cash 2025
€116,906
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,128,489 | €12,230,808 | +€102,319 | +0.8% |
| Fixed assets | 21/28 | €10,147,275 | €10,245,012 | +€97,737 | +1.0% |
| Tangible fixed assets | 22/27 | €174,685 | €118,686 | -€55,999 | -32.1% |
| Land and buildings | 22 | €38,277 | €38,219 | -€58 | -0.2% |
| Plant, machinery and equipment | 23 | €108,867 | €80,467 | -€28,400 | -26.1% |
| Furniture and vehicles | 24 | €27,541 | €0 | -€27,541 | -100.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €9,972,590 | €10,126,326 | +€153,736 | +1.5% |
| Affiliated companies | 280/1 | €9,972,590 | €10,126,326 | +€153,736 | +1.5% |
| Participating interests | 280 | €6,525,001 | €6,525,002 | +€1 | 0.0% |
| Amounts receivable | 281 | €3,447,589 | €3,601,324 | +€153,735 | +4.5% |
| Current assets | 29/58 | €1,981,214 | €1,985,796 | +€4,582 | +0.2% |
| Amounts receivable within one year | 40/41 | €584,865 | €724,673 | +€139,808 | +23.9% |
| Trade receivables | 40 | €440,363 | €539,526 | +€99,164 | +22.5% |
| Other amounts receivable | 41 | €144,502 | €185,147 | +€40,644 | +28.1% |
| Current investments | 50/53 | €1,144,217 | €1,144,217 | = | 0.0% |
| Other investments | 51/53 | €1,144,217 | €1,144,217 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €252,132 | €116,906 | -€135,226 | -53.6% |
| Total equity and liabilities | 10/49 | €12,128,489 | €12,230,808 | +€102,319 | +0.8% |
| Equity | 10/15 | €8,585,896 | €8,612,270 | +€26,374 | +0.3% |
| Contributions | 10/11 | €504,000 | €504,000 | = | 0.0% |
| Capital | 10 | €504,000 | €504,000 | = | 0.0% |
| Issued capital | 100 | €504,000 | €504,000 | = | 0.0% |
| Reserves | 13 | €2,282,825 | €2,282,825 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,446 | €50,446 | = | 0.0% |
| Legal reserve | 130 | €50,446 | €50,446 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,632,379 | €1,632,379 | = | 0.0% |
| Distributable reserves | 133 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,799,071 | €5,825,445 | +€26,374 | +0.5% |
| Amounts payable | 17/49 | €3,542,593 | €3,618,538 | +€75,945 | +2.1% |
| Amounts payable after more than one year | 17 | €2,206,015 | €2,171,015 | -€35,000 | -1.6% |
| Financial debts | 170/4 | €2,206,015 | €2,171,015 | -€35,000 | -1.6% |
| Other loans | 174 | €2,206,015 | €2,171,015 | -€35,000 | -1.6% |
| Amounts payable within one year | 42/48 | €135,890 | €152,967 | +€17,077 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €21,665 | €45,978 | +€24,313 | +112.2% |
| Suppliers | 440/4 | €21,665 | €45,978 | +€24,313 | +112.2% |
| Taxes, remuneration and social security | 45 | €14,225 | €6,988 | -€7,236 | -50.9% |
| Taxes | 450/3 | €1,041 | €6,988 | +€5,947 | +571.2% |
| Remuneration and social security | 454/9 | €13,184 | €0 | -€13,184 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,200,688 | €1,294,557 | +€93,869 | +7.8% |
| Operating income | 70/76A | €197,727 | €156,950 | -€40,776 | -20.6% |
| Turnover | 70 | €104,000 | €84,000 | -€20,000 | -19.2% |
| Other operating income | 74 | €88,448 | €72,950 | -€15,497 | -17.5% |
| Non-recurring operating income | 76A | €5,279 | €0 | -€5,279 | -100.0% |
| Operating charges | 60/66A | €243,888 | €237,921 | -€5,966 | -2.4% |
| Goods for resale, raw materials and consumables | 60 | €521 | €2,966 | +€2,445 | +469.6% |
| Purchases | 600/8 | €521 | €2,966 | +€2,445 | +469.6% |
| Services and other goods | 61 | €132,565 | €166,781 | +€34,215 | +25.8% |
| Remuneration, social security and pensions | 62 | €75,158 | €26,916 | -€48,241 | -64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,848 | €33,966 | -€881 | -2.5% |
| Other operating charges | 640/8 | €796 | €486 | -€310 | -38.9% |
| Non-recurring operating charges | 66A | - | €6,806 | +€6,806 | |
| Operating profit (loss) | 9901 | -€46,161 | -€80,971 | -€34,810 | -75.4% |
| Financial income | 75/76B | €719,573 | €169,132 | -€550,440 | -76.5% |
| Recurring financial income | 75 | €719,573 | €169,132 | -€550,440 | -76.5% |
| Income from current assets | 751 | €156,835 | €164,235 | +€7,400 | +4.7% |
| Other financial income | 752/9 | €562,738 | €4,897 | -€557,841 | -99.1% |
| Financial charges | 65/66B | €102,221 | €96,651 | -€5,570 | -5.4% |
| Recurring financial charges | 65 | €102,221 | €96,651 | -€5,570 | -5.4% |
| Debt charges | 650 | €101,969 | €96,651 | -€5,318 | -5.2% |
| Other financial charges | 652/9 | €252 | €0 | -€252 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €571,191 | -€8,490 | -€579,681 | |
| Income taxes | 67/77 | -€44,204 | -€34,864 | +€9,340 | +21.1% |
| Taxes | 670/3 | €41,335 | €1,343 | -€39,992 | -96.8% |
| Tax adjustments and reversals of tax provisions | 77 | €85,539 | €36,207 | -€49,332 | -57.7% |
| Profit (loss) for the period | 9904 | €615,395 | €26,374 | -€589,021 | -95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €615,395 | €26,374 | -€589,021 | -95.7% |
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 2 October 2026 via checked.be.