GESI: 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.
GESI
Largest movements
- Receivables within one year +€17,078
up €17,078 (+84.0%), from €20,326 to €37,403
of which Trade receivables: +€17,078
- Tangible fixed assets +€6,612
up €6,612 (+66.7%), from €9,911 to €16,523
of which Furniture and vehicles: +€6,906
- Cash -€3,131
down €3,131 (-100.0%), from €3,131 to €0
mainly Receivables within one year (-€17,078) and Investment in fixed assets (net) (-€10,520)
- Reserves +€9,500
up €9,500 (+510.8%), from €1,860 to €11,360
of which Distributable reserves: +€9,500
- Trade debts +€8,772
up €8,772 (+132.8%), from €6,605 to €15,376
- Advances received +€1,796
up €1,796 (+31.0%), from €5,787 to €7,583
- Accrued charges and deferred income -€600
down €600 (-100.0%), from €600 to €0
- Gross operating margin +€12,047
up €12,047 (+88.3%), from €13,641 to €25,688
- Taxes +€5,076
up €5,076 (+526.9%), from €963 to €6,040
- Depreciation +€2,528
up €2,528 (+183.2%), from €1,380 to €3,908
- Other operating charges -€1,818
down €1,818 (-26.4%), from €6,880 to €5,062
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 | €36,543 | €56,618 | +€20,075 | +54.9% |
| Fixed assets | 21/28 | €9,911 | €16,523 | +€6,612 | +66.7% |
| Tangible fixed assets | 22/27 | €9,911 | €16,523 | +€6,612 | +66.7% |
| Plant, machinery and equipment | 23 | €583 | €289 | -€294 | -50.5% |
| Furniture and vehicles | 24 | €9,327 | €16,234 | +€6,906 | +74.0% |
| Current assets | 29/58 | €26,632 | €40,096 | +€13,464 | +50.6% |
| Amounts receivable within one year | 40/41 | €20,326 | €37,403 | +€17,078 | +84.0% |
| Trade receivables | 40 | €20,326 | €37,403 | +€17,078 | +84.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,131 | €0 | -€3,131 | -100.0% |
| Deferred charges and accrued income | 490/1 | €3,176 | €2,692 | -€484 | -15.2% |
| Total equity and liabilities | 10/49 | €36,543 | €56,618 | +€20,075 | +54.9% |
| Equity | 10/15 | €15,046 | €25,088 | +€10,042 | +66.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,360 | +€9,500 | +510.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €9,500 | +€9,500 | |
| Profit (loss) carried forward | 14 | €6,986 | €7,528 | +€542 | +7.8% |
| Amounts payable | 17/49 | €21,497 | €31,530 | +€10,033 | +46.7% |
| Amounts payable within one year | 42/48 | €20,897 | €31,530 | +€10,633 | +50.9% |
| Financial debts | 43 | €0 | €133 | +€133 | |
| Credit institutions | 430/8 | €0 | €133 | +€133 | |
| Trade debts | 44 | €6,605 | €15,376 | +€8,772 | +132.8% |
| Suppliers | 440/4 | €6,605 | €15,376 | +€8,772 | +132.8% |
| Advances received on contracts in progress | 46 | €5,787 | €7,583 | +€1,796 | +31.0% |
| Taxes, remuneration and social security | 45 | €8,505 | €8,435 | -€69 | -0.8% |
| Taxes | 450/3 | €8,505 | €8,435 | -€69 | -0.8% |
| Other amounts payable | 47/48 | €0 | €2 | +€2 | |
| Accrued charges and deferred income | 492/3 | €600 | €0 | -€600 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,380 | €3,908 | +€2,528 | +183.2% |
| Other operating charges | 640/8 | €6,880 | €5,062 | -€1,818 | -26.4% |
| Gross operating margin | 9900 | €13,641 | €25,688 | +€12,047 | +88.3% |
| Operating profit (loss) | 9901 | €5,381 | €16,718 | +€11,337 | +210.7% |
| Financial charges | 65/66B | €832 | €637 | -€196 | -23.5% |
| Recurring financial charges | 65 | €832 | €637 | -€196 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €4,549 | €16,082 | +€11,533 | +253.5% |
| Income taxes | 67/77 | €963 | €6,040 | +€5,076 | +526.9% |
| Profit (loss) for the period | 9904 | €3,585 | €10,042 | +€6,457 | +180.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,585 | €10,042 | +€6,457 | +180.1% |
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 5 October 2026 via checked.be.