GEPIR: 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.
GEPIR
Largest movements
- Tangible fixed assets +€710,455
up €710,455 (+260.7%), from €272,564 to €983,019
of which Land and buildings: +€662,215
- Receivables within one year +€55,623
new in 2025: €55,623
- Cash +€30,755
up €30,755 (+183.5%), from €16,757 to €47,512
mainly Debts after one year (+€515,187) and Net result for the year (+€285,962)
- Debts after one year +€515,187
up €515,187 (+3126.1%), from €16,480 to €531,667
- Reserves +€302,456
up €302,456 (+4878.3%), from €6,200 to €308,656
of which Tax-exempt reserves: +€302,456
- Trade debts +€62,536
up €62,536 (+51.3%), from €121,899 to €184,435
- Advances received -€27,033
down €27,033 (-50.0%), from €54,067 to €27,034
- Other debts -€22,020
no longer reported in 2025 (was €22,020)
- Gross operating margin +€322,493
up €322,493 (+1904.4%), from €16,934 to €339,427
- Depreciation +€20,445
up €20,445 (+256.2%), from €7,980 to €28,425
- Turnover +€12,522
up €12,522 (+9.9%), from €125,912 to €138,434
- Financial charges +€9,866
up €9,866 (+487.2%), from €2,025 to €11,891
- Other operating charges +€7,804
up €7,804 (+166.2%), from €4,696 to €12,500
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 | €327,825 | €1,133,643 | +€805,818 | +245.8% |
| Fixed assets | 21/28 | €272,564 | €983,019 | +€710,455 | +260.7% |
| Tangible fixed assets | 22/27 | €272,564 | €983,019 | +€710,455 | +260.7% |
| Land and buildings | 22 | €272,564 | €934,779 | +€662,215 | +243.0% |
| Other tangible fixed assets | 26 | - | €48,240 | +€48,240 | |
| Current assets | 29/58 | €55,261 | €150,624 | +€95,363 | +172.6% |
| Amounts receivable within one year | 40/41 | - | €55,623 | +€55,623 | |
| Other amounts receivable | 41 | - | €55,623 | +€55,623 | |
| Cash at bank and in hand | 54/58 | €16,757 | €47,512 | +€30,755 | +183.5% |
| Deferred charges and accrued income | 490/1 | €38,504 | €47,489 | +€8,985 | +23.3% |
| Total equity and liabilities | 10/49 | €327,825 | €1,133,643 | +€805,818 | +245.8% |
| Equity | 10/15 | €104,546 | €390,507 | +€285,961 | +273.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €308,656 | +€302,456 | +4878.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €302,456 | +€302,456 | |
| Profit (loss) carried forward | 14 | €36,346 | €19,851 | -€16,495 | -45.4% |
| Amounts payable | 17/49 | €223,279 | €743,136 | +€519,857 | +232.8% |
| Amounts payable after more than one year | 17 | €16,480 | €531,667 | +€515,187 | +3126.1% |
| Financial debts | 170/4 | €16,480 | €531,667 | +€515,187 | +3126.1% |
| Amounts payable within one year | 42/48 | €206,799 | €211,469 | +€4,670 | +2.3% |
| Trade debts | 44 | €121,899 | €184,435 | +€62,536 | +51.3% |
| Suppliers | 440/4 | €121,899 | €184,435 | +€62,536 | +51.3% |
| Advances received on contracts in progress | 46 | €54,067 | €27,034 | -€27,033 | -50.0% |
| Taxes, remuneration and social security | 45 | €8,813 | - | -€8,813 | |
| Taxes | 450/3 | €8,813 | - | -€8,813 | |
| Other amounts payable | 47/48 | €22,020 | - | -€22,020 | |
| Turnover | 70 | €125,912 | €138,434 | +€12,522 | +9.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €110,493 | €115,853 | +€5,360 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,980 | €28,425 | +€20,445 | +256.2% |
| Other operating charges | 640/8 | €4,696 | €12,500 | +€7,804 | +166.2% |
| Gross operating margin | 9900 | €16,934 | €339,427 | +€322,493 | +1904.4% |
| Operating profit (loss) | 9901 | €4,258 | €298,502 | +€294,244 | +6910.4% |
| Financial charges | 65/66B | €2,025 | €11,891 | +€9,866 | +487.2% |
| Recurring financial charges | 65 | €2,025 | €11,891 | +€9,866 | +487.2% |
| Profit (loss) for the period before taxes | 9903 | €2,233 | €286,611 | +€284,378 | +12735.2% |
| Income taxes | 67/77 | €535 | €649 | +€114 | +21.3% |
| Profit (loss) for the period | 9904 | €1,698 | €285,962 | +€284,264 | +16741.1% |
| Transfer from tax-exempt reserves | 789 | - | €6,874 | +€6,874 | |
| Transfer to tax-exempt reserves | 689 | - | €309,331 | +€309,331 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,698 | -€16,495 | -€18,193 |
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 6 October 2026 via checked.be.