GESHOME: 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.
What changed
GESHOME
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€10,603
2024 · €14,016-€24,618
Equity
€252,329
2024 · €262,932-€10,603
Cash
€41,182
2024 · €38,276+€2,905
Balance sheet total
€6.1m
2024 · €5.7m+€409,563
Largest movements
Assets
- Financial fixed assets +€836,065
new in 2025: €836,065
- Tangible fixed assets -€503,191
down €503,191 (-9.2%), from €5.5m to €5.0m
of which Land and buildings: -€407,560
- Intangible fixed assets +€166,314
new in 2025: €166,314
- Deferred charges and accrued income -€149,654
down €149,654 (-93.0%), from €160,892 to €11,238
Equity and liabilities
- Other debts +€319,477
up €319,477 (+18.4%), from €1.7m to €2.1m
- Debts after one year +€163,570
up €163,570 (+5.3%), from €3.1m to €3.3m
of which Financial debts: +€158,897
- Trade debts -€63,987
down €63,987 (-35.9%), from €178,268 to €114,281
Income statement
- Gross operating margin -€141,685
down €141,685 (-23.9%), from €592,214 to €450,530
- Financial charges -€60,071
down €60,071 (-34.9%), from €171,895 to €111,824
- Other operating charges -€56,579
down €56,579 (-70.8%), from €79,916 to €23,337
- Write-downs +€21,804
up €21,804, from -€21,804 to €0
- Financial income +€19,960
up €19,960 (+10894.4%), from €183 to €20,143
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.
Result 2024
€14,016
Gross operating margin
-€141,685
Depreciation
-€4,942
Write-downs
-€21,804
Other operating charges
+€56,579
Financial income
+€19,960
Financial charges
+€60,071
Taxes
+€7,202
Result 2025
-€10,603
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.
From operations
+€621,926
Investment
-€830,260
Financing
+€211,239
Cash 2024
€38,276
From operations (derived)
+€621,926
Net result for the year
-€10,603
Depreciation
+€331,072
Receivables within one year
-€57,123
Deferred charges and accrued income
+€149,654
Trade debts
-€63,987
Tax, wage and social debts
-€15,524
Other debts
+€319,477
Accrued charges and deferred income
-€31,040
Investment (derived)
-€830,260
Investment in fixed assets (net)
-€830,260
Financing
+€211,239
Debts after one year
+€163,570
Current portion of long-term debt
+€47,563
Short-term financial debts
+€106
Cash 2025
€41,182
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,688,984 | €6,098,546 | +€409,563 | +7.2% |
| Fixed assets | 21/28 | €5,478,973 | €5,978,161 | +€499,188 | +9.1% |
| Intangible fixed assets | 21 | - | €166,314 | +€166,314 | |
| Tangible fixed assets | 22/27 | €5,478,973 | €4,975,782 | -€503,191 | -9.2% |
| Land and buildings | 22 | €4,802,834 | €4,395,274 | -€407,560 | -8.5% |
| Plant, machinery and equipment | 23 | €670,983 | €576,507 | -€94,476 | -14.1% |
| Furniture and vehicles | 24 | €5,156 | €4,001 | -€1,155 | -22.4% |
| Financial fixed assets | 28 | - | €836,065 | +€836,065 | |
| Current assets | 29/58 | €210,010 | €120,385 | -€89,625 | -42.7% |
| Amounts receivable within one year | 40/41 | €10,842 | €67,965 | +€57,123 | +526.9% |
| Trade receivables | 40 | €8,342 | €8,342 | = | 0.0% |
| Other amounts receivable | 41 | €2,500 | €59,623 | +€57,123 | +2284.9% |
| Cash at bank and in hand | 54/58 | €38,276 | €41,182 | +€2,905 | +7.6% |
| Deferred charges and accrued income | 490/1 | €160,892 | €11,238 | -€149,654 | -93.0% |
| Total equity and liabilities | 10/49 | €5,688,984 | €6,098,546 | +€409,563 | +7.2% |
| Equity | 10/15 | €262,932 | €252,329 | -€10,603 | -4.0% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €138,932 | €138,932 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,800 | €7,800 | = | 0.0% |
| Distributable reserves | 133 | €118,732 | €118,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,603 | -€10,603 | |
| Amounts payable | 17/49 | €5,426,051 | €5,846,217 | +€420,166 | +7.7% |
| Amounts payable after more than one year | 17 | €3,090,102 | €3,253,672 | +€163,570 | +5.3% |
| Financial debts | 170/4 | €2,920,439 | €3,079,336 | +€158,897 | +5.4% |
| Other amounts payable | 178/9 | €169,663 | €174,336 | +€4,673 | +2.8% |
| Amounts payable within one year | 42/48 | €2,304,909 | €2,592,545 | +€287,635 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €361,352 | €408,915 | +€47,563 | +13.2% |
| Financial debts | 43 | €11,304 | €11,409 | +€106 | +0.9% |
| Credit institutions | 430/8 | €11,304 | €11,409 | +€106 | +0.9% |
| Trade debts | 44 | €178,268 | €114,281 | -€63,987 | -35.9% |
| Suppliers | 440/4 | €178,268 | €114,281 | -€63,987 | -35.9% |
| Taxes, remuneration and social security | 45 | €15,524 | €0 | -€15,524 | -100.0% |
| Taxes | 450/3 | €15,524 | €0 | -€15,524 | -100.0% |
| Other amounts payable | 47/48 | €1,738,462 | €2,057,939 | +€319,477 | +18.4% |
| Accrued charges and deferred income | 492/3 | €31,040 | €0 | -€31,040 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,130 | €331,072 | +€4,942 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,804 | €0 | +€21,804 | |
| Other operating charges | 640/8 | €79,916 | €23,337 | -€56,579 | -70.8% |
| Gross operating margin | 9900 | €592,214 | €450,530 | -€141,685 | -23.9% |
| Operating profit (loss) | 9901 | €207,972 | €96,121 | -€111,851 | -53.8% |
| Financial income | 75/76B | €183 | €20,143 | +€19,960 | +10894.4% |
| Recurring financial income | 75 | €183 | €20,143 | +€19,960 | +10894.4% |
| Financial charges | 65/66B | €171,895 | €111,824 | -€60,071 | -34.9% |
| Recurring financial charges | 65 | €171,895 | €111,824 | -€60,071 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €36,260 | €4,440 | -€31,820 | -87.8% |
| Income taxes | 67/77 | €22,245 | €15,043 | -€7,202 | -32.4% |
| Profit (loss) for the period | 9904 | €14,016 | -€10,603 | -€24,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,016 | -€10,603 | -€24,618 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.