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 +€30,647
up €30,647 (+31.4%), from €97,706 to €128,354
mainly Depreciation (+€17,503) and Net result for the year (+€15,555)
- Tangible fixed assets -€21,500
down €21,500 (-12.1%), from €177,985 to €156,485
of which Land and buildings: -€13,208
- Receivables within one year +€3,616
up €3,616 (+24.7%), from €14,611 to €18,226
of which Trade receivables: +€4,642
- Profit (loss) carried forward +€15,555
up €15,555 (+10.0%), from €155,262 to €170,817
- Debts after one year -€10,917
down €10,917 (-14.2%), from €77,136 to €66,219
- Other debts +€10,179
up €10,179 (+30.9%), from €32,973 to €43,153
- Depreciation -€2,759
down €2,759 (-13.6%), from €20,262 to €17,503
- Gross operating margin -€2,549
down €2,549 (-5.8%), from €43,843 to €41,295
- Financial income +€1,040
up €1,040 (+800,031%), from €0 to €1,040
- Other operating charges +€744
up €744 (+64.5%), from €1,154 to €1,898
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 | €292,971 | €307,137 | +€14,166 | +4.8% |
| Fixed assets | 21/28 | €177,985 | €156,485 | -€21,500 | -12.1% |
| Tangible fixed assets | 22/27 | €177,985 | €156,485 | -€21,500 | -12.1% |
| Land and buildings | 22 | €163,098 | €149,890 | -€13,208 | -8.1% |
| Furniture and vehicles | 24 | €11,285 | €5,477 | -€5,807 | -51.5% |
| Other tangible fixed assets | 26 | €3,602 | €1,117 | -€2,485 | -69.0% |
| Current assets | 29/58 | €114,987 | €150,653 | +€35,666 | +31.0% |
| Amounts receivable within one year | 40/41 | €14,611 | €18,226 | +€3,616 | +24.7% |
| Trade receivables | 40 | €11,378 | €16,021 | +€4,642 | +40.8% |
| Other amounts receivable | 41 | €3,232 | €2,206 | -€1,027 | -31.8% |
| Cash at bank and in hand | 54/58 | €97,706 | €128,354 | +€30,647 | +31.4% |
| Deferred charges and accrued income | 490/1 | €2,669 | €4,073 | +€1,403 | +52.6% |
| Total equity and liabilities | 10/49 | €292,971 | €307,137 | +€14,166 | +4.8% |
| Equity | 10/15 | €169,522 | €185,077 | +€15,555 | +9.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,262 | €170,817 | +€15,555 | +10.0% |
| Amounts payable | 17/49 | €123,450 | €122,060 | -€1,389 | -1.1% |
| Amounts payable after more than one year | 17 | €77,136 | €66,219 | -€10,917 | -14.2% |
| Financial debts | 170/4 | €77,136 | €66,219 | -€10,917 | -14.2% |
| Amounts payable within one year | 42/48 | €46,314 | €55,841 | +€9,528 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €10,698 | €10,917 | +€219 | +2.0% |
| Trade debts | 44 | €1,042 | €1,361 | +€318 | +30.5% |
| Suppliers | 440/4 | €1,042 | €1,361 | +€318 | +30.5% |
| Taxes, remuneration and social security | 45 | €1,600 | €411 | -€1,189 | -74.3% |
| Taxes | 450/3 | - | €411 | +€411 | |
| Remuneration and social security | 454/9 | €1,600 | - | -€1,600 | |
| Other amounts payable | 47/48 | €32,973 | €43,153 | +€10,179 | +30.9% |
| Non-recurring operating income | 76A | €1,383 | €11,546 | +€10,163 | +735% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,262 | €17,503 | -€2,759 | -13.6% |
| Other operating charges | 640/8 | €1,154 | €1,898 | +€744 | +64.5% |
| Gross operating margin | 9900 | €43,843 | €41,295 | -€2,549 | -5.8% |
| Operating profit (loss) | 9901 | €22,428 | €21,895 | -€533 | -2.4% |
| Financial income | 75/76B | €0 | €1,040 | +€1,040 | +800,031% |
| Recurring financial income | 75 | €0 | €1,040 | +€1,040 | +800,031% |
| Financial charges | 65/66B | €2,167 | €1,968 | -€198 | -9.1% |
| Recurring financial charges | 65 | €2,167 | €1,968 | -€198 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €20,261 | €20,966 | +€705 | +3.5% |
| Income taxes | 67/77 | €5,159 | €5,411 | +€252 | +4.9% |
| Profit (loss) for the period | 9904 | €15,102 | €15,555 | +€453 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,102 | €15,555 | +€453 | +3.0% |
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 30 October 2026 via checked.be.