GERELEC: 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.
GERELEC
Largest movements
- Cash +€1,362
up €1,362 (+3.4%), from €40,357 to €41,719
mainly Net result for the year (+€665) and Tax, wage and social debts (+€629)
- Receivables within one year -€594
down €594 (-26.3%), from €2,260 to €1,666
of which Trade receivables: -€1,594
- Other debts -€737
no longer reported in 2025 (was €737)
- Profit (loss) carried forward +€665
up €665 (+0.6%), from -€116,543 to -€115,878
- Tax, wage and social debts +€629
up €629 (+229%), from €275 to €904
- Gross operating margin +€6,528
up €6,528, from -€4,207 to €2,321
- Other operating charges +€1,343
up €1,343 (+901%), from €149 to €1,492
- Financial income -€160
down €160 (-81.2%), from €197 to €37
of which Non-recurring financial income: -€197
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 | €51,436 | €51,904 | +€468 | +0.9% |
| Fixed assets | 21/28 | €198 | €198 | = | 0.0% |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Current assets | 29/58 | €51,238 | €51,706 | +€468 | +0.9% |
| Stocks and contracts in progress | 3 | €8,621 | €8,321 | -€300 | -3.5% |
| Stocks | 30/36 | €8,621 | €8,321 | -€300 | -3.5% |
| Amounts receivable within one year | 40/41 | €2,260 | €1,666 | -€594 | -26.3% |
| Trade receivables | 40 | €2,260 | €666 | -€1,594 | -70.5% |
| Other amounts receivable | 41 | - | €1,000 | +€1,000 | |
| Cash at bank and in hand | 54/58 | €40,357 | €41,719 | +€1,362 | +3.4% |
| Total equity and liabilities | 10/49 | €51,436 | €51,904 | +€468 | +0.9% |
| Equity | 10/15 | €50,297 | €50,962 | +€665 | +1.3% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €18,104 | €18,104 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,334 | €7,334 | = | 0.0% |
| Legal reserve | 130 | €2,080 | €2,080 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,254 | €5,254 | = | 0.0% |
| Distributable reserves | 133 | €10,770 | €10,770 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,543 | -€115,878 | +€665 | +0.6% |
| Amounts payable | 17/49 | €1,139 | €942 | -€197 | -17.3% |
| Amounts payable within one year | 42/48 | €1,139 | €942 | -€197 | -17.3% |
| Trade debts | 44 | €127 | €38 | -€89 | -70.1% |
| Suppliers | 440/4 | €127 | €38 | -€89 | -70.1% |
| Taxes, remuneration and social security | 45 | €275 | €904 | +€629 | +229% |
| Taxes | 450/3 | €275 | €904 | +€629 | +229% |
| Other amounts payable | 47/48 | €737 | - | -€737 | |
| Other operating charges | 640/8 | €149 | €1,492 | +€1,343 | +901% |
| Non-recurring operating charges | 66A | - | €154 | +€154 | |
| Gross operating margin | 9900 | -€4,207 | €2,321 | +€6,528 | |
| Operating profit (loss) | 9901 | -€4,356 | €675 | +€5,031 | |
| Financial income | 75/76B | €197 | €37 | -€160 | -81.2% |
| Recurring financial income | 75 | €197 | €37 | -€160 | -81.2% |
| Non-recurring financial income | 76B | €197 | - | -€197 | |
| Financial charges | 65/66B | €45 | €47 | +€2 | +4.4% |
| Recurring financial charges | 65 | €45 | €47 | +€2 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,204 | €665 | +€4,869 | |
| Profit (loss) for the period | 9904 | -€4,204 | €665 | +€4,869 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,204 | €665 | +€4,869 |
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 30 October 2026 via checked.be.