GES-L: 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.
GES-L
Largest movements
- Cash +€22,794
up €22,794 (+5871.3%), from €388 to €23,183
mainly Net result for the year (+€19,739) and Depreciation (+€7,297)
- Tangible fixed assets -€7,297
down €7,297 (-83.5%), from €8,743 to €1,446
- Receivables within one year +€3,269
up €3,269 (+147.3%), from €2,220 to €5,489
of which Trade receivables: +€2,881
- Profit (loss) carried forward +€19,739
up €19,739 (+8.4%), from -€234,349 to -€214,611
- Other debts -€6,918
down €6,918 (-3.2%), from €216,138 to €209,220
- Tax, wage and social debts +€5,987
up €5,987 (+1258.1%), from €476 to €6,463
- Gross operating margin +€28,666
up €28,666 (+9389.2%), from €305 to €28,971
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 | €12,213 | €31,012 | +€18,799 | +153.9% |
| Fixed assets | 21/28 | €8,743 | €1,446 | -€7,297 | -83.5% |
| Tangible fixed assets | 22/27 | €8,743 | €1,446 | -€7,297 | -83.5% |
| Other tangible fixed assets | 26 | €8,743 | €1,446 | -€7,297 | -83.5% |
| Current assets | 29/58 | €3,471 | €29,566 | +€26,096 | +751.9% |
| Amounts receivable within one year | 40/41 | €2,220 | €5,489 | +€3,269 | +147.3% |
| Trade receivables | 40 | €1,168 | €4,048 | +€2,881 | +246.7% |
| Other amounts receivable | 41 | €1,052 | €1,440 | +€388 | +36.9% |
| Cash at bank and in hand | 54/58 | €388 | €23,183 | +€22,794 | +5871.3% |
| Deferred charges and accrued income | 490/1 | €863 | €895 | +€32 | +3.8% |
| Total equity and liabilities | 10/49 | €12,213 | €31,012 | +€18,799 | +153.9% |
| Equity | 10/15 | -€205,889 | -€186,151 | +€19,739 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,860 | €9,860 | = | 0.0% |
| 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 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€234,349 | -€214,611 | +€19,739 | +8.4% |
| Amounts payable | 17/49 | €218,103 | €217,163 | -€940 | -0.4% |
| Amounts payable within one year | 42/48 | €218,103 | €217,163 | -€940 | -0.4% |
| Trade debts | 44 | €1,489 | €1,480 | -€9 | -0.6% |
| Suppliers | 440/4 | €1,489 | €1,480 | -€9 | -0.6% |
| Taxes, remuneration and social security | 45 | €476 | €6,463 | +€5,987 | +1258.1% |
| Taxes | 450/3 | €476 | €6,463 | +€5,987 | +1258.1% |
| Other amounts payable | 47/48 | €216,138 | €209,220 | -€6,918 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,297 | €7,297 | = | 0.0% |
| Other operating charges | 640/8 | €1,757 | €1,761 | +€4 | +0.2% |
| Gross operating margin | 9900 | €305 | €28,971 | +€28,666 | +9389.2% |
| Operating profit (loss) | 9901 | -€8,748 | €19,914 | +€28,662 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €165 | €177 | +€11 | +6.9% |
| Recurring financial charges | 65 | €165 | €177 | +€11 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,913 | €19,739 | +€28,652 | |
| Profit (loss) for the period | 9904 | -€8,913 | €19,739 | +€28,652 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,913 | €19,739 | +€28,652 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.