GESA: 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.
GESA
Largest movements
- Cash +€23,481
up €23,481 (+22.5%), from €104,534 to €128,015
mainly Trade debts (+€22,070) and Net result for the year (+€13,895)
- Receivables after one year +€12,443
new in 2024: €12,443
- Tangible fixed assets -€11,450
down €11,450 (-5.8%), from €196,056 to €184,606
of which Land and buildings: -€9,750
- Trade debts +€22,070
new in 2024: €22,070
- Reserves +€13,895
up €13,895 (+9.5%), from €146,502 to €160,397
- Debts after one year -€8,786
down €8,786 (-6.7%), from €131,887 to €123,101
- Gross operating margin -€27,638
down €27,638 (-40.8%), from €67,778 to €40,139
- Taxes -€5,718
down €5,718 (-43.9%), from €13,012 to €7,294
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €312,013 | €339,150 | +€27,137 | +8.7% |
| Fixed assets | 21/28 | €196,056 | €184,606 | -€11,450 | -5.8% |
| Tangible fixed assets | 22/27 | €196,056 | €184,606 | -€11,450 | -5.8% |
| Land and buildings | 22 | €181,617 | €171,867 | -€9,750 | -5.4% |
| Furniture and vehicles | 24 | €14,439 | €12,739 | -€1,700 | -11.8% |
| Current assets | 29/58 | €115,957 | €154,545 | +€38,587 | +33.3% |
| Amounts receivable after more than one year | 29 | - | €12,443 | +€12,443 | |
| Other amounts receivable | 291 | - | €12,443 | +€12,443 | |
| Stocks and contracts in progress | 3 | €11,423 | €11,898 | +€475 | +4.2% |
| Stocks | 30/36 | €11,423 | €11,898 | +€475 | +4.2% |
| Amounts receivable within one year | 40/41 | - | €1,874 | +€1,874 | |
| Trade receivables | 40 | - | €168 | +€168 | |
| Other amounts receivable | 41 | - | €1,706 | +€1,706 | |
| Cash at bank and in hand | 54/58 | €104,534 | €128,015 | +€23,481 | +22.5% |
| Deferred charges and accrued income | 490/1 | - | €315 | +€315 | |
| Total equity and liabilities | 10/49 | €312,013 | €339,150 | +€27,137 | +8.7% |
| Equity | 10/15 | €165,102 | €178,997 | +€13,895 | +8.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,502 | €160,397 | +€13,895 | +9.5% |
| Distributable reserves | 133 | €146,502 | €160,397 | +€13,895 | +9.5% |
| Amounts payable | 17/49 | €146,911 | €160,153 | +€13,242 | +9.0% |
| Amounts payable after more than one year | 17 | €131,887 | €123,101 | -€8,786 | -6.7% |
| Financial debts | 170/4 | €131,887 | €123,101 | -€8,786 | -6.7% |
| Amounts payable within one year | 42/48 | €15,025 | €37,052 | +€22,028 | +146.6% |
| Current portion of amounts payable after more than one year | 42 | €7,160 | €7,731 | +€571 | +8.0% |
| Trade debts | 44 | - | €22,070 | +€22,070 | |
| Suppliers | 440/4 | - | €22,070 | +€22,070 | |
| Taxes, remuneration and social security | 45 | €3,565 | €5,083 | +€1,518 | +42.6% |
| Taxes | 450/3 | €3,565 | €5,083 | +€1,518 | +42.6% |
| Other amounts payable | 47/48 | €4,300 | €2,169 | -€2,131 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,450 | €11,450 | = | 0.0% |
| Other operating charges | 640/8 | €2,386 | €2,454 | +€68 | +2.8% |
| Gross operating margin | 9900 | €67,778 | €40,139 | -€27,638 | -40.8% |
| Operating profit (loss) | 9901 | €53,942 | €26,236 | -€27,706 | -51.4% |
| Financial charges | 65/66B | €4,792 | €5,047 | +€255 | +5.3% |
| Recurring financial charges | 65 | €4,792 | €5,047 | +€255 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €49,150 | €21,189 | -€27,961 | -56.9% |
| Income taxes | 67/77 | €13,012 | €7,294 | -€5,718 | -43.9% |
| Profit (loss) for the period | 9904 | €36,139 | €13,895 | -€22,243 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,139 | €13,895 | -€22,243 | -61.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.