GERECO: 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.
GERECO
Largest movements
- Receivables within one year +€37,203
up €37,203 (+47.4%), from €78,492 to €115,695
of which Trade receivables: +€37,203
- Tangible fixed assets +€20,435
up €20,435 (+817%), from €2,502 to €22,937
of which Assets under construction and advance payments: +€21,928
- Receivables after one year -€19,326
down €19,326 (-48.1%), from €40,186 to €20,860
- Trade debts +€33,348
up €33,348 (+121%), from €27,605 to €60,953
- Reserves +€6,737
up €6,737 (+14.0%), from €47,995 to €54,732
of which Distributable reserves: +€6,737
- Tax, wage and social debts -€2,675
down €2,675 (-12.3%), from €21,833 to €19,158
- Gross operating margin -€9,659
down €9,659 (-40.0%), from €24,141 to €14,482
- Other operating charges -€2,406
down €2,406 (-60.7%), from €3,964 to €1,558
- Financial income +€1,703
up €1,703 (+7,741%), from €22 to €1,725
- Depreciation -€1,188
down €1,188 (-44.3%), from €2,681 to €1,493
- Financial charges -€449
down €449 (-15.7%), from €2,868 to €2,419
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €124,641 | €162,385 | +€37,744 | +30.3% |
| Fixed assets | 21/28 | €2,502 | €22,937 | +€20,435 | +817% |
| Tangible fixed assets | 22/27 | €2,502 | €22,937 | +€20,435 | +817% |
| Plant, machinery and equipment | 23 | €2,502 | €1,009 | -€1,493 | -59.7% |
| Assets under construction and advance payments | 27 | - | €21,928 | +€21,928 | |
| Current assets | 29/58 | €122,139 | €139,448 | +€17,309 | +14.2% |
| Amounts receivable after more than one year | 29 | €40,186 | €20,860 | -€19,326 | -48.1% |
| Other amounts receivable | 291 | €40,186 | €20,860 | -€19,326 | -48.1% |
| Stocks and contracts in progress | 3 | €2,943 | €2,375 | -€568 | -19.3% |
| Stocks | 30/36 | €2,943 | €2,375 | -€568 | -19.3% |
| Amounts receivable within one year | 40/41 | €78,492 | €115,695 | +€37,203 | +47.4% |
| Trade receivables | 40 | €78,489 | €115,692 | +€37,203 | +47.4% |
| Other amounts receivable | 41 | €3 | €3 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €518 | €518 | = | 0.0% |
| Total equity and liabilities | 10/49 | €124,641 | €162,385 | +€37,744 | +30.3% |
| Equity | 10/15 | €66,595 | €73,332 | +€6,737 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,995 | €54,732 | +€6,737 | +14.0% |
| 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 | €46,135 | €52,872 | +€6,737 | +14.6% |
| Amounts payable | 17/49 | €58,046 | €89,053 | +€31,007 | +53.4% |
| Amounts payable within one year | 42/48 | €58,046 | €89,053 | +€31,007 | +53.4% |
| Current portion of amounts payable after more than one year | 42 | €1,468 | €1,412 | -€56 | -3.8% |
| Financial debts | 43 | €7,140 | €7,530 | +€390 | +5.5% |
| Credit institutions | 430/8 | €7,140 | €7,530 | +€390 | +5.5% |
| Trade debts | 44 | €27,605 | €60,953 | +€33,348 | +121% |
| Suppliers | 440/4 | €27,605 | €60,953 | +€33,348 | +121% |
| Taxes, remuneration and social security | 45 | €21,833 | €19,158 | -€2,675 | -12.3% |
| Taxes | 450/3 | €21,833 | €19,158 | -€2,675 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,681 | €1,493 | -€1,188 | -44.3% |
| Other operating charges | 640/8 | €3,964 | €1,558 | -€2,406 | -60.7% |
| Gross operating margin | 9900 | €24,141 | €14,482 | -€9,659 | -40.0% |
| Operating profit (loss) | 9901 | €17,496 | €11,431 | -€6,065 | -34.7% |
| Financial income | 75/76B | €22 | €1,725 | +€1,703 | +7,741% |
| Recurring financial income | 75 | €22 | €1,725 | +€1,703 | +7,741% |
| Financial charges | 65/66B | €2,868 | €2,419 | -€449 | -15.7% |
| Recurring financial charges | 65 | €2,868 | €2,419 | -€449 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €14,650 | €10,737 | -€3,913 | -26.7% |
| Income taxes | 67/77 | €4,373 | €4,000 | -€373 | -8.5% |
| Profit (loss) for the period | 9904 | €10,277 | €6,737 | -€3,540 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,277 | €6,737 | -€3,540 | -34.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.