GESCO PROJECT: 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 PROJECT
Largest movements
- Cash -€24,241
down €24,241 (-51.6%), from €46,985 to €22,744
mainly Contributions, distributions and other (-€66,618) and Debts after one year (-€20,918)
- Other debts +€21,264
up €21,264 (+540.5%), from €3,935 to €25,199
- Debts after one year -€20,918
down €20,918 (-21.8%), from €95,918 to €75,000
- Advances received -€20,000
no longer reported in 2025 (was €20,000)
- Current portion of long-term debt -€14,630
down €14,630 (-41.2%), from €35,548 to €20,918
- Profit (loss) carried forward +€12,027
up €12,027 (+8.8%), from €136,484 to €148,511
- Turnover -€145,474
no longer reported in 2025 (was €145,474)
- Purchases and services -€70,156
no longer reported in 2025 (was €70,156)
- Gross operating margin +€32,425
up €32,425 (+41.6%), from €77,968 to €110,394
- Taxes +€8,276
up €8,276 (+42.4%), from €19,533 to €27,809
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 | €305,302 | €280,985 | -€24,317 | -8.0% |
| Fixed assets | 21/28 | €257,850 | €255,469 | -€2,381 | -0.9% |
| Tangible fixed assets | 22/27 | €7,850 | €5,469 | -€2,381 | -30.3% |
| Furniture and vehicles | 24 | €4,628 | €2,692 | -€1,936 | -41.8% |
| Other tangible fixed assets | 26 | €3,222 | €2,777 | -€445 | -13.8% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €47,452 | €25,516 | -€21,936 | -46.2% |
| Amounts receivable within one year | 40/41 | €467 | €2,773 | +€2,305 | +493.1% |
| Other amounts receivable | 41 | €467 | €2,773 | +€2,305 | +493.1% |
| Cash at bank and in hand | 54/58 | €46,985 | €22,744 | -€24,241 | -51.6% |
| Total equity and liabilities | 10/49 | €305,302 | €280,985 | -€24,317 | -8.0% |
| Equity | 10/15 | €138,484 | €150,511 | +€12,027 | +8.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,484 | €148,511 | +€12,027 | +8.8% |
| Amounts payable | 17/49 | €166,818 | €130,474 | -€36,344 | -21.8% |
| Amounts payable after more than one year | 17 | €95,918 | €75,000 | -€20,918 | -21.8% |
| Financial debts | 170/4 | €95,918 | €75,000 | -€20,918 | -21.8% |
| Amounts payable within one year | 42/48 | €70,900 | €55,474 | -€15,426 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €35,548 | €20,918 | -€14,630 | -41.2% |
| Trade debts | 44 | €76 | €91 | +€15 | +19.3% |
| Suppliers | 440/4 | €76 | €91 | +€15 | +19.3% |
| Advances received on contracts in progress | 46 | €20,000 | - | -€20,000 | |
| Taxes, remuneration and social security | 45 | €11,341 | €9,266 | -€2,075 | -18.3% |
| Taxes | 450/3 | €11,341 | €9,266 | -€2,075 | -18.3% |
| Other amounts payable | 47/48 | €3,935 | €25,199 | +€21,264 | +540.5% |
| Turnover | 70 | €145,474 | - | -€145,474 | |
| Goods, raw materials, services and sundry goods | 60/61 | €70,156 | - | -€70,156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,381 | €2,381 | = | 0.0% |
| Other operating charges | 640/8 | €966 | €928 | -€38 | -3.9% |
| Gross operating margin | 9900 | €77,968 | €110,394 | +€32,425 | +41.6% |
| Operating profit (loss) | 9901 | €74,622 | €107,084 | +€32,463 | +43.5% |
| Financial charges | 65/66B | €1,100 | €631 | -€469 | -42.6% |
| Recurring financial charges | 65 | €1,100 | €631 | -€469 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €73,521 | €106,453 | +€32,931 | +44.8% |
| Income taxes | 67/77 | €19,533 | €27,809 | +€8,276 | +42.4% |
| Profit (loss) for the period | 9904 | €53,989 | €78,644 | +€24,655 | +45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,989 | €78,644 | +€24,655 | +45.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.