Gepo: 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.
Gepo
Largest movements
- Receivables within one year +€143,252
up €143,252 (+1,184%), from €12,100 to €155,352
of which Trade receivables: +€114,100
- Profit (loss) carried forward +€83,530
no longer reported in 2025 (was -€83,530)
- Debts after one year -€71,429
down €71,429 (-9.6%), from €744,643 to €673,214
- Reserves +€56,404
new in 2025: €56,404
- Current portion of long-term debt +€50,000
up €50,000 (+8.8%), from €571,429 to €621,429
- Other debts +€30,911
up €30,911 (+2.8%), from €1.1m to €1.1m
- Gross operating margin +€207,901
up €207,901 (+827%), from €25,152 to €233,053
- Financial charges -€40,482
down €40,482 (-37.8%), from €106,985 to €66,503
- Taxes +€26,488
new in 2025: €26,488
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.
Derived cash bridge
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 | €2,495,220 | €2,644,959 | +€149,739 | +6.0% |
| Fixed assets | 21/28 | €2,473,750 | €2,483,750 | +€10,000 | +0.4% |
| Financial fixed assets | 28 | €2,473,750 | €2,483,750 | +€10,000 | +0.4% |
| Current assets | 29/58 | €21,470 | €161,209 | +€139,739 | +651% |
| Amounts receivable within one year | 40/41 | €12,100 | €155,352 | +€143,252 | +1,184% |
| Trade receivables | 40 | €12,100 | €126,200 | +€114,100 | +943% |
| Other amounts receivable | 41 | - | €29,152 | +€29,152 | |
| Cash at bank and in hand | 54/58 | €9,370 | €5,857 | -€3,513 | -37.5% |
| Total equity and liabilities | 10/49 | €2,495,220 | €2,644,959 | +€149,739 | +6.0% |
| Equity | 10/15 | €66,470 | €206,404 | +€139,933 | +211% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | - | €56,404 | +€56,404 | |
| Distributable reserves | 133 | - | €56,404 | +€56,404 | |
| Profit (loss) carried forward | 14 | -€83,530 | - | +€83,530 | |
| Amounts payable | 17/49 | €2,428,749 | €2,438,555 | +€9,806 | +0.4% |
| Amounts payable after more than one year | 17 | €744,643 | €673,214 | -€71,429 | -9.6% |
| Financial debts | 170/4 | €744,643 | €673,214 | -€71,429 | -9.6% |
| Amounts payable within one year | 42/48 | €1,684,106 | €1,765,340 | +€81,234 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €571,429 | €621,429 | +€50,000 | +8.8% |
| Trade debts | 44 | €894 | €878 | -€16 | -1.8% |
| Suppliers | 440/4 | €894 | €878 | -€16 | -1.8% |
| Taxes, remuneration and social security | 45 | €19,687 | €20,027 | +€339 | +1.7% |
| Taxes | 450/3 | €16,548 | €20,027 | +€3,478 | +21.0% |
| Remuneration and social security | 454/9 | €3,139 | - | -€3,139 | |
| Other amounts payable | 47/48 | €1,092,097 | €1,123,007 | +€30,911 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,071 | - | -€1,071 | |
| Other operating charges | 640/8 | €626 | €128 | -€498 | -79.6% |
| Gross operating margin | 9900 | €25,152 | €233,053 | +€207,901 | +827% |
| Operating profit (loss) | 9901 | €23,455 | €232,925 | +€209,470 | +893% |
| Financial charges | 65/66B | €106,985 | €66,503 | -€40,482 | -37.8% |
| Recurring financial charges | 65 | €106,985 | €66,503 | -€40,482 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | -€83,530 | €166,422 | +€249,951 | |
| Income taxes | 67/77 | - | €26,488 | +€26,488 | |
| Profit (loss) for the period | 9904 | -€83,530 | €139,933 | +€223,463 | |
| Profit (loss) for the period to be appropriated | 9905 | -€83,530 | €139,933 | +€223,463 |
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 24 October 2026 via checked.be.