GERCAR: 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.
GERCAR
Largest movements
- Cash +€135,191
up €135,191 (+66.1%), from €204,552 to €339,743
mainly Net result for the year (+€78,418) and Depreciation (+€66,031)
- Tangible fixed assets -€66,031
down €66,031 (-6.8%), from €964,943 to €898,912
- Receivables within one year -€18,129
down €18,129 (-72.5%), from €25,014 to €6,886
of which Other amounts receivable: -€16,337
- Reserves +€109,440
up €109,440 (+16.3%), from €671,958 to €781,398
of which Distributable reserves: +€109,440
- Debts after one year -€41,836
down €41,836 (-13.4%), from €313,379 to €271,543
- Profit (loss) carried forward -€31,021
down €31,021 (-90.1%), from €34,440 to €3,418
- Taxes +€17,830
up €17,830 (+66.9%), from €26,645 to €44,474
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 | €1,194,509 | €1,245,540 | +€51,032 | +4.3% |
| Fixed assets | 21/28 | €964,943 | €898,912 | -€66,031 | -6.8% |
| Tangible fixed assets | 22/27 | €964,943 | €898,912 | -€66,031 | -6.8% |
| Land and buildings | 22 | €964,943 | €898,912 | -€66,031 | -6.8% |
| Current assets | 29/58 | €229,566 | €346,628 | +€117,063 | +51.0% |
| Amounts receivable within one year | 40/41 | €25,014 | €6,886 | -€18,129 | -72.5% |
| Trade receivables | 40 | €1,792 | - | -€1,792 | |
| Other amounts receivable | 41 | €23,223 | €6,886 | -€16,337 | -70.3% |
| Cash at bank and in hand | 54/58 | €204,552 | €339,743 | +€135,191 | +66.1% |
| Total equity and liabilities | 10/49 | €1,194,509 | €1,245,540 | +€51,032 | +4.3% |
| Equity | 10/15 | €768,398 | €846,816 | +€78,418 | +10.2% |
| 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 | €671,958 | €781,398 | +€109,440 | +16.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €665,758 | €775,198 | +€109,440 | +16.4% |
| Profit (loss) carried forward | 14 | €34,440 | €3,418 | -€31,021 | -90.1% |
| Amounts payable | 17/49 | €426,111 | €398,724 | -€27,387 | -6.4% |
| Amounts payable after more than one year | 17 | €313,379 | €271,543 | -€41,836 | -13.4% |
| Financial debts | 170/4 | €313,379 | €271,543 | -€41,836 | -13.4% |
| Amounts payable within one year | 42/48 | €112,732 | €116,277 | +€3,546 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €48,313 | €47,446 | -€868 | -1.8% |
| Trade debts | 44 | €12 | €152 | +€139 | +1133.2% |
| Suppliers | 440/4 | €12 | €152 | +€139 | +1133.2% |
| Taxes, remuneration and social security | 45 | €7,027 | €8,361 | +€1,334 | +19.0% |
| Taxes | 450/3 | €7,027 | €8,361 | +€1,334 | +19.0% |
| Other amounts payable | 47/48 | €57,379 | €60,319 | +€2,939 | +5.1% |
| Accrued charges and deferred income | 492/3 | - | €10,904 | +€10,904 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,759 | €66,031 | +€272 | +0.4% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | €196,667 | €196,664 | -€3 | 0.0% |
| Operating profit (loss) | 9901 | €130,767 | €130,489 | -€278 | -0.2% |
| Financial income | 75/76B | - | €1,032 | +€1,032 | |
| Recurring financial income | 75 | - | €1,032 | +€1,032 | |
| Financial charges | 65/66B | €9,683 | €8,628 | -€1,055 | -10.9% |
| Recurring financial charges | 65 | €9,683 | €8,628 | -€1,055 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €121,084 | €122,893 | +€1,808 | +1.5% |
| Income taxes | 67/77 | €26,645 | €44,474 | +€17,830 | +66.9% |
| Profit (loss) for the period | 9904 | €94,440 | €78,418 | -€16,021 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,440 | €78,418 | -€16,021 | -17.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.