GESCA: 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.
GESCA
Largest movements
- Receivables after one year -€100,000
down €100,000 (-42.9%), from €233,000 to €133,000
- Cash -€30,519
down €30,519 (-89.2%), from €34,223 to €3,704
mainly Contributions, distributions and other (-€279,877) and Receivables within one year (-€11,021)
- Receivables within one year +€11,021
up €11,021 (+30.0%), from €36,712 to €47,733
of which Trade receivables: +€11,049
- Reserves -€229,142
down €229,142 (-92.7%), from €247,181 to €18,040
- Other debts +€104,757
up €104,757 (+3239.7%), from €3,234 to €107,990
- Tax, wage and social debts +€6,275
up €6,275 (+12.9%), from €48,510 to €54,785
of which Taxes: +€7,475
- Trade debts -€3,408
down €3,408 (-39.6%), from €8,599 to €5,191
- Gross operating margin -€80,854
down €80,854 (-52.0%), from €155,559 to €74,705
- Taxes -€15,992
down €15,992 (-49.4%), from €32,347 to €16,354
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 | €312,024 | €190,506 | -€121,518 | -38.9% |
| Fixed assets | 21/28 | €6,577 | €5,729 | -€848 | -12.9% |
| Tangible fixed assets | 22/27 | €6,577 | €5,729 | -€848 | -12.9% |
| Plant, machinery and equipment | 23 | €6,577 | €4,041 | -€2,537 | -38.6% |
| Furniture and vehicles | 24 | - | €1,688 | +€1,688 | |
| Current assets | 29/58 | €305,446 | €184,777 | -€120,670 | -39.5% |
| Amounts receivable after more than one year | 29 | €233,000 | €133,000 | -€100,000 | -42.9% |
| Other amounts receivable | 291 | €233,000 | €133,000 | -€100,000 | -42.9% |
| Amounts receivable within one year | 40/41 | €36,712 | €47,733 | +€11,021 | +30.0% |
| Trade receivables | 40 | €3,103 | €14,152 | +€11,049 | +356.1% |
| Other amounts receivable | 41 | €33,609 | €33,581 | -€28 | -0.1% |
| Cash at bank and in hand | 54/58 | €34,223 | €3,704 | -€30,519 | -89.2% |
| Deferred charges and accrued income | 490/1 | €1,512 | €340 | -€1,172 | -77.5% |
| Total equity and liabilities | 10/49 | €312,024 | €190,506 | -€121,518 | -38.9% |
| Equity | 10/15 | €251,681 | €22,540 | -€229,142 | -91.0% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €247,181 | €18,040 | -€229,142 | -92.7% |
| Distributable reserves | 133 | €247,181 | €18,040 | -€229,142 | -92.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €60,342 | €167,966 | +€107,623 | +178.4% |
| Amounts payable within one year | 42/48 | €60,342 | €167,966 | +€107,623 | +178.4% |
| Trade debts | 44 | €8,599 | €5,191 | -€3,408 | -39.6% |
| Suppliers | 440/4 | €8,599 | €5,191 | -€3,408 | -39.6% |
| Taxes, remuneration and social security | 45 | €48,510 | €54,785 | +€6,275 | +12.9% |
| Taxes | 450/3 | €47,310 | €54,785 | +€7,475 | +15.8% |
| Remuneration and social security | 454/9 | €1,200 | €0 | -€1,200 | -100.0% |
| Other amounts payable | 47/48 | €3,234 | €107,990 | +€104,757 | +3239.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,433 | €3,144 | -€289 | -8.4% |
| Other operating charges | 640/8 | €2,321 | €1,202 | -€1,118 | -48.2% |
| Gross operating margin | 9900 | €155,559 | €74,705 | -€80,854 | -52.0% |
| Operating profit (loss) | 9901 | €149,806 | €70,359 | -€79,447 | -53.0% |
| Financial income | 75/76B | €184 | €200 | +€16 | +8.8% |
| Recurring financial income | 75 | €184 | €200 | +€16 | +8.8% |
| Financial charges | 65/66B | €4,616 | €3,469 | -€1,147 | -24.9% |
| Recurring financial charges | 65 | €4,616 | €3,469 | -€1,147 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €145,373 | €67,090 | -€78,283 | -53.8% |
| Income taxes | 67/77 | €32,347 | €16,354 | -€15,992 | -49.4% |
| Profit (loss) for the period | 9904 | €113,026 | €50,735 | -€62,291 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €113,026 | €50,735 | -€62,291 | -55.1% |
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 2 October 2026 via checked.be.