GESGO: what changed
GESGO
Largest movements
- Cash +€98,593
up €98,593 (+166%), from €59,231 to €157,824
mainly Net result for the year (+€109,178) and Tax, wage and social debts (+€21,242)
- Tangible fixed assets +€15,102
up €15,102 (+62.9%), from €24,016 to €39,118
of which Other tangible fixed assets: +€32,396
- Receivables after one year -€8,000
no longer reported in 2025 (was €8,000)
- Receivables within one year +€7,048
up €7,048 (+30.3%), from €23,293 to €30,340
- Reserves +€93,916
up €93,916 (+271%), from €34,658 to €128,574
- Tax, wage and social debts +€21,242
up €21,242 (+142%), from €14,911 to €36,153
- Other debts -€6,334
down €6,334 (-75.4%), from €8,406 to €2,072
- Trade debts +€3,283
up €3,283 (+36.8%), from €8,919 to €12,202
- Gross operating margin +€158,279
up €158,279 (+862%), from €18,360 to €176,639
- Taxes +€46,546
up €46,546 (+1,043%), from €4,461 to €51,007
- Other operating charges +€4,324
up €4,324 (+574%), from €753 to €5,077
- Depreciation +€3,644
up €3,644 (+50.2%), from €7,262 to €10,906
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €119,694 | €231,801 | +€112,107 | +93.7% |
| Fixed assets | 21/28 | €27,091 | €42,193 | +€15,102 | +55.7% |
| Tangible fixed assets | 22/27 | €24,016 | €39,118 | +€15,102 | +62.9% |
| Furniture and vehicles | 24 | €23,407 | €6,113 | -€17,294 | -73.9% |
| Other tangible fixed assets | 26 | €609 | €33,005 | +€32,396 | +5,316% |
| Financial fixed assets | 28 | €3,075 | €3,075 | = | 0.0% |
| Current assets | 29/58 | €92,603 | €189,608 | +€97,005 | +105% |
| Amounts receivable after more than one year | 29 | €8,000 | - | -€8,000 | |
| Other amounts receivable | 291 | €8,000 | - | -€8,000 | |
| Amounts receivable within one year | 40/41 | €23,293 | €30,340 | +€7,048 | +30.3% |
| Trade receivables | 40 | €23,293 | €30,340 | +€7,048 | +30.3% |
| Cash at bank and in hand | 54/58 | €59,231 | €157,824 | +€98,593 | +166% |
| Deferred charges and accrued income | 490/1 | €2,080 | €1,444 | -€636 | -30.6% |
| Total equity and liabilities | 10/49 | €119,694 | €231,801 | +€112,107 | +93.7% |
| Equity | 10/15 | €87,458 | €181,374 | +€93,916 | +107% |
| Contributions | 10/11 | €52,800 | €52,800 | = | 0.0% |
| Reserves | 13 | €34,658 | €128,574 | +€93,916 | +271% |
| Distributable reserves | 133 | €34,658 | €128,574 | +€93,916 | +271% |
| Amounts payable | 17/49 | €32,236 | €50,427 | +€18,191 | +56.4% |
| Amounts payable within one year | 42/48 | €32,236 | €50,427 | +€18,191 | +56.4% |
| Trade debts | 44 | €8,919 | €12,202 | +€3,283 | +36.8% |
| Suppliers | 440/4 | €8,919 | €12,202 | +€3,283 | +36.8% |
| Taxes, remuneration and social security | 45 | €14,911 | €36,153 | +€21,242 | +142% |
| Taxes | 450/3 | €14,911 | €36,153 | +€21,242 | +142% |
| Other amounts payable | 47/48 | €8,406 | €2,072 | -€6,334 | -75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,262 | €10,906 | +€3,644 | +50.2% |
| Other operating charges | 640/8 | €753 | €5,077 | +€4,324 | +574% |
| Gross operating margin | 9900 | €18,360 | €176,639 | +€158,279 | +862% |
| Operating profit (loss) | 9901 | €10,345 | €160,656 | +€150,311 | +1,453% |
| Financial income | 75/76B | €348 | €176 | -€172 | -49.4% |
| Recurring financial income | 75 | €348 | €176 | -€172 | -49.4% |
| Financial charges | 65/66B | €713 | €647 | -€66 | -9.2% |
| Recurring financial charges | 65 | €713 | €647 | -€66 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €9,980 | €160,185 | +€150,205 | +1,505% |
| Income taxes | 67/77 | €4,461 | €51,007 | +€46,546 | +1,043% |
| Profit (loss) for the period | 9904 | €5,519 | €109,178 | +€103,659 | +1,878% |
| Profit (loss) for the period to be appropriated | 9905 | €5,519 | €109,178 | +€103,659 | +1,878% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.