GESCO: 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.
GESCO
Largest movements
- Cash +€286,848
up €286,848 (+154%), from €185,971 to €472,818
mainly Debts (+€277,267) and Net result for the year (+€75,750)
- Receivables within one year +€156,047
up €156,047 (+21.8%), from €714,634 to €870,681
- Stocks and contracts -€41,706
down €41,706 (-7.6%), from €546,800 to €505,094
- Tangible fixed assets -€26,562
down €26,562 (-19.8%), from €133,976 to €107,414
- Intangible fixed assets -€20,727
down €20,727 (-60.7%), from €34,122 to €13,394
- Debts +€277,267
up €277,267 (+49.3%), from €561,883 to €839,150
of which Debts within one year: +€253,142
- Profit (loss) carried forward +€75,750
new in 2016: €75,750
- Turnover -€3.6m
no longer reported in 2016 (was €3.6m)
- Gross operating margin +€1.3m
new in 2016: €1.3m
- Taxes -€37,739
down €37,739 (-62.9%), from €60,002 to €22,263
From the 2015 result to the 2016 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 2015 and 2016 balance sheets and the 2016 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2015 | 2016 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,638,003 | €1,992,158 | +€354,154 | +21.6% |
| Fixed assets | 21/28 | €190,598 | €143,564 | -€47,034 | -24.7% |
| Intangible fixed assets | 21 | €34,122 | €13,394 | -€20,727 | -60.7% |
| Tangible fixed assets | 22/27 | €133,976 | €107,414 | -€26,562 | -19.8% |
| Financial fixed assets | 28 | €22,500 | €22,756 | +€256 | +1.1% |
| Current assets | 29/58 | €1,447,405 | €1,848,593 | +€401,188 | +27.7% |
| Stocks and contracts in progress | 3 | €546,800 | €505,094 | -€41,706 | -7.6% |
| Amounts receivable within one year | 40/41 | €714,634 | €870,681 | +€156,047 | +21.8% |
| Cash at bank and in hand | 54/58 | €185,971 | €472,818 | +€286,848 | +154% |
| Total equity and liabilities | 10/49 | €1,638,003 | €1,992,158 | +€354,154 | +21.6% |
| Equity | 10/15 | €1,019,846 | €1,095,596 | +€75,750 | +7.4% |
| Contributions | 10/11 | €385,000 | €385,000 | = | 0.0% |
| Reserves | 13 | €634,846 | €634,846 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €75,750 | +€75,750 | |
| Provisions and deferred taxes | 16 | €56,274 | €57,412 | +€1,138 | +2.0% |
| Amounts payable | 17/49 | €561,883 | €839,150 | +€277,267 | +49.3% |
| Amounts payable after more than one year | 17 | €44,265 | €11,056 | -€33,209 | -75.0% |
| Amounts payable within one year | 42/48 | €517,618 | €770,761 | +€253,142 | +48.9% |
| Trade debts | 44 | €150,096 | €377,082 | +€226,987 | +151% |
| Turnover | 70 | €3,558,356 | - | -€3.6m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,975 | €73,133 | -€27,842 | -27.6% |
| Gross operating margin | 9900 | - | €1,303,306 | +€1.3m | |
| Operating profit (loss) | 9901 | €134,795 | €105,089 | -€29,706 | -22.0% |
| Recurring financial income | 75 | €5,441 | €3,821 | -€1,619 | -29.8% |
| Recurring financial charges | 65 | €20,704 | €10,897 | -€9,807 | -47.4% |
| Debt charges | 650 | €11,350 | - | -€11,350 | |
| Profit (loss) for the period before taxes | 9903 | €122,034 | €98,013 | -€24,021 | -19.7% |
| Income taxes | 67/77 | €60,002 | €22,263 | -€37,739 | -62.9% |
| Profit (loss) for the period | 9904 | €62,032 | €75,750 | +€13,718 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,032 | €75,750 | +€13,718 | +22.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2015 and 31 December 2016. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.