GES-TP: 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-TP
Largest movements
- Receivables after one year +€120,000
new in 2025: €120,000
- Cash -€28,884
down €28,884 (-17.1%), from €168,437 to €139,552
mainly Receivables after one year (-€120,000) and Contributions, distributions and other (-€55,000)
- Reserves +€80,000
up €80,000 (+29.7%), from €269,360 to €349,360
of which Distributable reserves: +€80,000
- Other debts +€7,000
up €7,000 (+22.2%), from €31,500 to €38,500
- Tax, wage and social debts +€4,854
up €4,854 (+10.4%), from €46,852 to €51,706
- Gross operating margin +€15,112
up €15,112 (+9.1%), from €165,555 to €180,667
- Financial income +€6,264
new in 2025: €6,264
- Taxes +€3,383
up €3,383 (+6.7%), from €50,273 to €53,656
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 | €358,330 | €449,376 | +€91,046 | +25.4% |
| Fixed assets | 21/28 | €407 | €120 | -€287 | -70.4% |
| Tangible fixed assets | 22/27 | €407 | €120 | -€287 | -70.4% |
| Furniture and vehicles | 24 | €407 | €120 | -€287 | -70.4% |
| Current assets | 29/58 | €357,923 | €449,256 | +€91,332 | +25.5% |
| Amounts receivable after more than one year | 29 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | - | €120,000 | +€120,000 | |
| Amounts receivable within one year | 40/41 | €189,487 | €189,703 | +€217 | +0.1% |
| Trade receivables | 40 | €158,946 | €152,121 | -€6,825 | -4.3% |
| Other amounts receivable | 41 | €30,541 | €37,583 | +€7,042 | +23.1% |
| Cash at bank and in hand | 54/58 | €168,437 | €139,552 | -€28,884 | -17.1% |
| Total equity and liabilities | 10/49 | €358,330 | €449,376 | +€91,046 | +25.4% |
| Equity | 10/15 | €279,786 | €357,701 | +€77,915 | +27.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €269,360 | €349,360 | +€80,000 | +29.7% |
| 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 | €267,500 | €347,500 | +€80,000 | +29.9% |
| Profit (loss) carried forward | 14 | €4,226 | €2,141 | -€2,085 | -49.3% |
| Amounts payable | 17/49 | €78,544 | €91,674 | +€13,131 | +16.7% |
| Amounts payable within one year | 42/48 | €78,352 | €91,674 | +€13,323 | +17.0% |
| Trade debts | 44 | - | €1,469 | +€1,469 | |
| Suppliers | 440/4 | - | €1,469 | +€1,469 | |
| Taxes, remuneration and social security | 45 | €46,852 | €51,706 | +€4,854 | +10.4% |
| Taxes | 450/3 | €46,852 | €51,706 | +€4,854 | +10.4% |
| Other amounts payable | 47/48 | €31,500 | €38,500 | +€7,000 | +22.2% |
| Accrued charges and deferred income | 492/3 | €192 | - | -€192 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287 | €287 | = | 0.0% |
| Gross operating margin | 9900 | €165,555 | €180,667 | +€15,112 | +9.1% |
| Operating profit (loss) | 9901 | €165,268 | €180,380 | +€15,112 | +9.1% |
| Financial income | 75/76B | - | €6,264 | +€6,264 | |
| Recurring financial income | 75 | - | €6,264 | +€6,264 | |
| Financial charges | 65/66B | €124 | €74 | -€51 | -40.8% |
| Recurring financial charges | 65 | €124 | €74 | -€51 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €165,144 | €186,571 | +€21,427 | +13.0% |
| Income taxes | 67/77 | €50,273 | €53,656 | +€3,383 | +6.7% |
| Profit (loss) for the period | 9904 | €114,871 | €132,915 | +€18,044 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €114,871 | €132,915 | +€18,044 | +15.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.