GESMONS: 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.
GESMONS
Largest movements
- Cash -€5,298
down €5,298 (-73.8%), from €7,180 to €1,882
mainly Debts after one year (-€29,345) and Investment in fixed assets (net) (-€20,439)
- Debts after one year -€29,345
down €29,345 (-21.5%), from €136,388 to €107,043
of which Financial debts: -€26,845
- Other debts +€27,820
up €27,820 (+12.7%), from €219,321 to €247,141
- Profit (loss) carried forward -€6,327
down €6,327 (-4.8%), from -€130,948 to -€137,274
- Gross operating margin -€19,465
down €19,465 (-36.0%), from €54,039 to €34,574
- Depreciation +€7,149
up €7,149 (+47.5%), from €15,036 to €22,185
- Other operating charges -€4,291
down €4,291 (-26.7%), from €16,047 to €11,756
- Financial charges -€1,020
down €1,020 (-13.0%), from €7,821 to €6,801
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.
Derived cash bridge
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 | €363,660 | €359,252 | -€4,408 | -1.2% |
| Fixed assets | 21/28 | €341,056 | €339,310 | -€1,746 | -0.5% |
| Tangible fixed assets | 22/27 | €336,098 | €334,352 | -€1,746 | -0.5% |
| Land and buildings | 22 | €255,827 | €236,834 | -€18,993 | -7.4% |
| Plant, machinery and equipment | 23 | €3 | - | -€3 | |
| Furniture and vehicles | 24 | €8,640 | €5,451 | -€3,189 | -36.9% |
| Assets under construction and advance payments | 27 | €71,628 | €92,067 | +€20,439 | +28.5% |
| Financial fixed assets | 28 | €4,958 | €4,958 | = | 0.0% |
| Current assets | 29/58 | €22,604 | €19,942 | -€2,662 | -11.8% |
| Amounts receivable within one year | 40/41 | €15,128 | €17,748 | +€2,620 | +17.3% |
| Trade receivables | 40 | €14,961 | €16,926 | +€1,965 | +13.1% |
| Other amounts receivable | 41 | €167 | €822 | +€655 | +391% |
| Cash at bank and in hand | 54/58 | €7,180 | €1,882 | -€5,298 | -73.8% |
| Deferred charges and accrued income | 490/1 | €296 | €312 | +€16 | +5.5% |
| Total equity and liabilities | 10/49 | €363,660 | €359,252 | -€4,408 | -1.2% |
| Equity | 10/15 | -€17,692 | -€24,018 | -€6,327 | -35.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €94,664 | €94,664 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,883 | €1,883 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,883 | €1,883 | = | 0.0% |
| Distributable reserves | 133 | €92,781 | €92,781 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,948 | -€137,274 | -€6,327 | -4.8% |
| Amounts payable | 17/49 | €381,352 | €383,270 | +€1,918 | +0.5% |
| Amounts payable after more than one year | 17 | €136,388 | €107,043 | -€29,345 | -21.5% |
| Financial debts | 170/4 | €119,368 | €92,523 | -€26,845 | -22.5% |
| Advances received on contracts in progress | 176 | €17,020 | €14,520 | -€2,500 | -14.7% |
| Amounts payable within one year | 42/48 | €244,964 | €276,227 | +€31,263 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €25,643 | €26,845 | +€1,202 | +4.7% |
| Trade debts | 44 | - | €2,241 | +€2,241 | |
| Suppliers | 440/4 | - | €2,241 | +€2,241 | |
| Other amounts payable | 47/48 | €219,321 | €247,141 | +€27,820 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,036 | €22,185 | +€7,149 | +47.5% |
| Other operating charges | 640/8 | €16,047 | €11,756 | -€4,291 | -26.7% |
| Non-recurring operating charges | 66A | - | €159 | +€159 | |
| Gross operating margin | 9900 | €54,039 | €34,574 | -€19,465 | -36.0% |
| Operating profit (loss) | 9901 | €22,955 | €474 | -€22,482 | -97.9% |
| Financial income | 75/76B | €6 | €1 | -€5 | -88.1% |
| Recurring financial income | 75 | €6 | €1 | -€5 | -88.1% |
| Financial charges | 65/66B | €7,821 | €6,801 | -€1,020 | -13.0% |
| Recurring financial charges | 65 | €7,821 | €6,801 | -€1,020 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €15,141 | -€6,327 | -€21,467 | |
| Profit (loss) for the period | 9904 | €15,141 | -€6,327 | -€21,467 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,141 | -€6,327 | -€21,467 |
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 14 October 2026 via checked.be.