GES'ART: 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.
GES'ART
Largest movements
- Cash -€312
down €312 (-48.9%), from €639 to €327
mainly Net result for the year (-€11,430) and Debts after one year (-€3,627)
- Profit (loss) carried forward -€11,430
down €11,430 (-3.0%), from -€384,349 to -€395,779
- Trade debts +€9,259
up €9,259 (+355%), from €2,606 to €11,864
- Other debts +€5,487
up €5,487 (+1.6%), from €337,978 to €343,465
- Debts after one year -€3,627
down €3,627 (-23.7%), from €15,279 to €11,652
- Gross operating margin +€2,905
up €2,905 (+21.0%), from -€13,861 to -€10,956
- Purchases and services -€2,858
down €2,858 (-13.8%), from €20,740 to €17,882
- Financial income -€1,346
no longer reported in 2025 (was €1,346)
- Financial charges -€266
down €266 (-36.0%), from €740 to €474
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 | €11,639 | €11,327 | -€312 | -2.7% |
| Current assets | 29/58 | €11,639 | €11,327 | -€312 | -2.7% |
| Stocks and contracts in progress | 3 | €11,000 | €11,000 | = | 0.0% |
| Stocks | 30/36 | €11,000 | €11,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €639 | €327 | -€312 | -48.9% |
| Total equity and liabilities | 10/49 | €11,639 | €11,327 | -€312 | -2.7% |
| Equity | 10/15 | -€344,224 | -€355,654 | -€11,430 | -3.3% |
| Contributions | 10/11 | €24,125 | €24,125 | = | 0.0% |
| Capital | 10 | €24,125 | €24,125 | = | 0.0% |
| Issued capital | 100 | €24,125 | €24,125 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€384,349 | -€395,779 | -€11,430 | -3.0% |
| Investment grants | 15 | €16,000 | €16,000 | = | 0.0% |
| Amounts payable | 17/49 | €355,863 | €366,981 | +€11,118 | +3.1% |
| Amounts payable after more than one year | 17 | €15,279 | €11,652 | -€3,627 | -23.7% |
| Financial debts | 170/4 | €15,279 | €11,652 | -€3,627 | -23.7% |
| Amounts payable within one year | 42/48 | €340,584 | €355,329 | +€14,745 | +4.3% |
| Trade debts | 44 | €2,606 | €11,864 | +€9,259 | +355% |
| Suppliers | 440/4 | €2,606 | €11,864 | +€9,259 | +355% |
| Other amounts payable | 47/48 | €337,978 | €343,465 | +€5,487 | +1.6% |
| Turnover | 70 | €6,879 | €6,926 | +€47 | +0.7% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €20,740 | €17,882 | -€2,858 | -13.8% |
| Gross operating margin | 9900 | -€13,861 | -€10,956 | +€2,905 | +21.0% |
| Operating profit (loss) | 9901 | -€13,861 | -€10,956 | +€2,905 | +21.0% |
| Financial income | 75/76B | €1,346 | - | -€1,346 | |
| Recurring financial income | 75 | €1,346 | - | -€1,346 | |
| Financial charges | 65/66B | €740 | €474 | -€266 | -36.0% |
| Recurring financial charges | 65 | €740 | €474 | -€266 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,256 | -€11,430 | +€1,825 | +13.8% |
| Profit (loss) for the period | 9904 | -€13,256 | -€11,430 | +€1,825 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,256 | -€11,430 | +€1,825 | +13.8% |
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 13 October 2026 via checked.be.