GEPI: 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.
GEPI
Largest movements
- Tangible fixed assets +€42,214
up €42,214 (+33.0%), from €127,818 to €170,032
of which Land and buildings: +€39,944
- Receivables within one year -€2,970
down €2,970 (-58.2%), from €5,102 to €2,132
of which Trade receivables: -€5,102
- Cash +€2,684
up €2,684 (+200.1%), from €1,342 to €4,026
mainly Contributions, distributions and other (+€40,000) and Other debts (+€21,158)
- Revaluation surpluses +€40,000
up €40,000 (+34.8%), from €115,000 to €155,000
- Profit (loss) carried forward -€22,908
down €22,908 (-393.9%), from -€5,816 to -€28,724
- Other debts +€21,158
up €21,158 (+3281.5%), from €645 to €21,803
- Tax, wage and social debts +€2,946
up €2,946 (+136.1%), from €2,164 to €5,110
of which Remuneration and social security: +€4,850
- Gross operating margin -€15,792
down €15,792 (-4830.4%), from -€327 to -€16,119
- Other operating charges -€1,854
down €1,854 (-40.6%), from €4,571 to €2,717
- Depreciation +€730
up €730 (+61.5%), from €1,188 to €1,918
- Financial charges +€661
up €661 (+59.4%), from €1,113 to €1,774
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 | €135,775 | €177,503 | +€41,728 | +30.7% |
| Fixed assets | 21/28 | €128,868 | €171,083 | +€42,214 | +32.8% |
| Tangible fixed assets | 22/27 | €127,818 | €170,032 | +€42,214 | +33.0% |
| Land and buildings | 22 | €121,831 | €161,775 | +€39,944 | +32.8% |
| Other tangible fixed assets | 26 | €5,987 | €8,257 | +€2,271 | +37.9% |
| Financial fixed assets | 28 | €1,051 | €1,051 | = | 0.0% |
| Current assets | 29/58 | €6,906 | €6,420 | -€486 | -7.0% |
| Amounts receivable within one year | 40/41 | €5,102 | €2,132 | -€2,970 | -58.2% |
| Trade receivables | 40 | €5,102 | - | -€5,102 | |
| Other amounts receivable | 41 | - | €2,132 | +€2,132 | |
| Cash at bank and in hand | 54/58 | €1,342 | €4,026 | +€2,684 | +200.1% |
| Deferred charges and accrued income | 490/1 | €463 | €263 | -€200 | -43.2% |
| Total equity and liabilities | 10/49 | €135,775 | €177,503 | +€41,728 | +30.7% |
| Equity | 10/15 | €132,519 | €149,611 | +€17,092 | +12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €115,000 | €155,000 | +€40,000 | +34.8% |
| Reserves | 13 | €4,736 | €4,736 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,876 | €2,876 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,816 | -€28,724 | -€22,908 | -393.9% |
| Amounts payable | 17/49 | €3,256 | €27,892 | +€24,636 | +756.7% |
| Amounts payable within one year | 42/48 | €3,256 | €27,892 | +€24,636 | +756.7% |
| Trade debts | 44 | €447 | €979 | +€532 | +119.1% |
| Suppliers | 440/4 | €447 | €979 | +€532 | +119.1% |
| Taxes, remuneration and social security | 45 | €2,164 | €5,110 | +€2,946 | +136.1% |
| Taxes | 450/3 | €2,164 | €260 | -€1,904 | -88.0% |
| Remuneration and social security | 454/9 | - | €4,850 | +€4,850 | |
| Other amounts payable | 47/48 | €645 | €21,803 | +€21,158 | +3281.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,188 | €1,918 | +€730 | +61.5% |
| Other operating charges | 640/8 | €4,571 | €2,717 | -€1,854 | -40.6% |
| Non-recurring operating charges | 66A | - | €116 | +€116 | |
| Gross operating margin | 9900 | -€327 | -€16,119 | -€15,792 | -4830.4% |
| Operating profit (loss) | 9901 | -€6,085 | -€20,870 | -€14,784 | -242.9% |
| Financial charges | 65/66B | €1,113 | €1,774 | +€661 | +59.4% |
| Recurring financial charges | 65 | €1,113 | €1,774 | +€661 | +59.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,198 | -€22,643 | -€15,445 | -214.6% |
| Income taxes | 67/77 | €279 | €264 | -€15 | -5.4% |
| Profit (loss) for the period | 9904 | -€7,477 | -€22,908 | -€15,430 | -206.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,477 | -€22,908 | -€15,430 | -206.4% |
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.