GERCOFISC: 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.
GERCOFISC
Largest movements
- Receivables within one year +€31,130
up €31,130 (+56.9%), from €54,682 to €85,812
of which Trade receivables: +€39,230
- Tangible fixed assets -€23,655
down €23,655 (-40.3%), from €58,633 to €34,978
of which Furniture and vehicles: -€22,180
- Current investments +€15,494
up €15,494 (+21.3%), from €72,774 to €88,268
- Cash -€6,812
down €6,812 (-7.6%), from €89,126 to €82,314
mainly Receivables within one year (-€31,130) and Contributions, distributions and other (-€29,570)
- Reserves +€23,685
up €23,685 (+12.8%), from €184,490 to €208,175
- Other debts -€13,964
down €13,964 (-38.8%), from €36,036 to €22,072
- Tax, wage and social debts +€7,555
up €7,555 (+30.2%), from €25,037 to €32,592
of which Taxes: +€4,122
- Current portion of long-term debt -€3,212
no longer reported in 2025 (was €3,212)
- Gross operating margin +€57,466
up €57,466 (+35.1%), from €163,618 to €221,084
- Staff costs +€31,461
up €31,461 (+35.4%), from €88,773 to €120,234
- Taxes +€11,158
up €11,158 (+65.1%), from €17,132 to €28,290
- Financial income +€10,201
up €10,201 (+710.4%), from €1,436 to €11,637
- Depreciation +€2,446
up €2,446 (+11.4%), from €21,511 to €23,957
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 | €278,007 | €291,973 | +€13,966 | +5.0% |
| Fixed assets | 21/28 | €58,893 | €35,238 | -€23,655 | -40.2% |
| Tangible fixed assets | 22/27 | €58,633 | €34,978 | -€23,655 | -40.3% |
| Furniture and vehicles | 24 | €48,803 | €26,623 | -€22,180 | -45.4% |
| Other tangible fixed assets | 26 | €9,830 | €8,355 | -€1,475 | -15.0% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €219,114 | €256,735 | +€37,621 | +17.2% |
| Amounts receivable within one year | 40/41 | €54,682 | €85,812 | +€31,130 | +56.9% |
| Trade receivables | 40 | €46,507 | €85,737 | +€39,230 | +84.4% |
| Other amounts receivable | 41 | €8,175 | €75 | -€8,100 | -99.1% |
| Current investments | 50/53 | €72,774 | €88,268 | +€15,494 | +21.3% |
| Cash at bank and in hand | 54/58 | €89,126 | €82,314 | -€6,812 | -7.6% |
| Deferred charges and accrued income | 490/1 | €2,532 | €341 | -€2,191 | -86.5% |
| Total equity and liabilities | 10/49 | €278,007 | €291,973 | +€13,966 | +5.0% |
| Equity | 10/15 | €190,690 | €214,375 | +€23,685 | +12.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €184,490 | €208,175 | +€23,685 | +12.8% |
| Distributable reserves | 133 | €184,490 | €208,175 | +€23,685 | +12.8% |
| Amounts payable | 17/49 | €87,317 | €77,597 | -€9,720 | -11.1% |
| Amounts payable within one year | 42/48 | €72,386 | €60,297 | -€12,089 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €3,212 | - | -€3,212 | |
| Trade debts | 44 | €8,101 | €5,633 | -€2,468 | -30.5% |
| Suppliers | 440/4 | €8,101 | €5,633 | -€2,468 | -30.5% |
| Taxes, remuneration and social security | 45 | €25,037 | €32,592 | +€7,555 | +30.2% |
| Taxes | 450/3 | €8,831 | €12,953 | +€4,122 | +46.7% |
| Remuneration and social security | 454/9 | €16,206 | €19,639 | +€3,433 | +21.2% |
| Other amounts payable | 47/48 | €36,036 | €22,072 | -€13,964 | -38.8% |
| Accrued charges and deferred income | 492/3 | €14,931 | €17,301 | +€2,370 | +15.9% |
| Non-recurring operating income | 76A | - | €4,110 | +€4,110 | |
| Remuneration, social security and pensions | 62 | €88,773 | €120,234 | +€31,461 | +35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,511 | €23,957 | +€2,446 | +11.4% |
| Other operating charges | 640/8 | €2,291 | €1,246 | -€1,045 | -45.6% |
| Non-recurring operating charges | 66A | - | €2,213 | +€2,213 | |
| Gross operating margin | 9900 | €163,618 | €221,084 | +€57,466 | +35.1% |
| Operating profit (loss) | 9901 | €51,043 | €73,433 | +€22,390 | +43.9% |
| Financial income | 75/76B | €1,436 | €11,637 | +€10,201 | +710.4% |
| Recurring financial income | 75 | €1,436 | €11,637 | +€10,201 | +710.4% |
| Financial charges | 65/66B | €3,886 | €3,525 | -€361 | -9.3% |
| Recurring financial charges | 65 | €3,886 | €3,525 | -€361 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €48,593 | €81,545 | +€32,952 | +67.8% |
| Income taxes | 67/77 | €17,132 | €28,290 | +€11,158 | +65.1% |
| Profit (loss) for the period | 9904 | €31,461 | €53,255 | +€21,794 | +69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,461 | €53,255 | +€21,794 | +69.3% |
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.