GERCO CAPITAL: 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.
GERCO CAPITAL
Largest movements
- Deferred charges and accrued income +€63,912
up €63,912 (+276.0%), from €23,158 to €87,070
- Receivables within one year +€21,025
up €21,025 (+81.8%), from €25,708 to €46,733
- Cash -€4,294
down €4,294 (-64.6%), from €6,647 to €2,353
mainly Deferred charges and accrued income (-€63,912) and Receivables within one year (-€21,025)
- Trade debts +€61,650
up €61,650 (+308.3%), from €20,000 to €81,650
- Profit (loss) carried forward +€32,924
up €32,924 (+3215.8%), from €1,024 to €33,948
- Accrued charges and deferred income -€13,931
no longer reported in 2025 (was €13,931)
- Gross operating margin +€74,038
up €74,038, from -€43,279 to €30,760
- Financial income +€1,934
up €1,934 (+588.5%), from €329 to €2,262
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 | €55,513 | €136,156 | +€80,643 | +145.3% |
| Current assets | 29/58 | €55,513 | €136,156 | +€80,643 | +145.3% |
| Amounts receivable within one year | 40/41 | €25,708 | €46,733 | +€21,025 | +81.8% |
| Other amounts receivable | 41 | €25,708 | €46,733 | +€21,025 | +81.8% |
| Cash at bank and in hand | 54/58 | €6,647 | €2,353 | -€4,294 | -64.6% |
| Deferred charges and accrued income | 490/1 | €23,158 | €87,070 | +€63,912 | +276.0% |
| Total equity and liabilities | 10/49 | €55,513 | €136,156 | +€80,643 | +145.3% |
| Equity | 10/15 | €21,582 | €54,506 | +€32,924 | +152.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,358 | €14,358 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €12,498 | €12,498 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,024 | €33,948 | +€32,924 | +3215.8% |
| Amounts payable | 17/49 | €33,931 | €81,650 | +€47,719 | +140.6% |
| Amounts payable within one year | 42/48 | €20,000 | €81,650 | +€61,650 | +308.3% |
| Trade debts | 44 | €20,000 | €81,650 | +€61,650 | +308.3% |
| Suppliers | 440/4 | €20,000 | €81,650 | +€61,650 | +308.3% |
| Accrued charges and deferred income | 492/3 | €13,931 | - | -€13,931 | |
| Gross operating margin | 9900 | -€43,279 | €30,760 | +€74,038 | |
| Operating profit (loss) | 9901 | -€43,279 | €30,760 | +€74,038 | |
| Financial income | 75/76B | €329 | €2,262 | +€1,934 | +588.5% |
| Recurring financial income | 75 | €329 | €2,262 | +€1,934 | +588.5% |
| Financial charges | 65/66B | €23 | €98 | +€75 | +320.2% |
| Recurring financial charges | 65 | €23 | €98 | +€75 | +320.2% |
| Profit (loss) for the period before taxes | 9903 | -€42,973 | €32,924 | +€75,898 | |
| Profit (loss) for the period | 9904 | -€42,973 | €32,924 | +€75,898 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,973 | €32,924 | +€75,898 |
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 11 October 2026 via checked.be.