GESO: 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.
GESO
Largest movements
- Tangible fixed assets +€616,456
up €616,456 (+1473.6%), from €41,832 to €658,288
- Current investments +€40,000
up €40,000 (+19.0%), from €210,000 to €250,000
- Cash -€14,298
down €14,298 (-57.5%), from €24,857 to €10,559
mainly Investment in fixed assets (net) (-€616,456) and Current investments (-€40,000)
- Revaluation surpluses +€616,456
new in 2025: €616,456
- Profit (loss) carried forward +€22,011
up €22,011 (+18.8%), from €117,020 to €139,031
- Write-downs +€26,016
no longer reported in 2025 (was -€26,016)
- Other operating charges -€25,833
down €25,833 (-80.4%), from €32,128 to €6,295
- Financial income +€2,569
new in 2025: €2,569
- Financial charges +€2,301
up €2,301 (+31.9%), from €7,218 to €9,519
- Gross operating margin -€1,080
down €1,080 (-2.5%), from €43,673 to €42,593
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 | €281,697 | €924,695 | +€642,998 | +228.3% |
| Fixed assets | 21/28 | €41,832 | €658,288 | +€616,456 | +1473.6% |
| Tangible fixed assets | 22/27 | €41,832 | €658,288 | +€616,456 | +1473.6% |
| Land and buildings | 22 | €41,832 | €658,288 | +€616,456 | +1473.6% |
| Current assets | 29/58 | €239,865 | €266,407 | +€26,542 | +11.1% |
| Amounts receivable within one year | 40/41 | €5,008 | €5,848 | +€840 | +16.8% |
| Other amounts receivable | 41 | €5,008 | €5,848 | +€840 | +16.8% |
| Current investments | 50/53 | €210,000 | €250,000 | +€40,000 | +19.0% |
| Cash at bank and in hand | 54/58 | €24,857 | €10,559 | -€14,298 | -57.5% |
| Total equity and liabilities | 10/49 | €281,697 | €924,695 | +€642,998 | +228.3% |
| Equity | 10/15 | €185,190 | €823,657 | +€638,467 | +344.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | - | €616,456 | +€616,456 | |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,020 | €139,031 | +€22,011 | +18.8% |
| Amounts payable | 17/49 | €96,507 | €101,038 | +€4,531 | +4.7% |
| Amounts payable within one year | 42/48 | €96,507 | €101,038 | +€4,531 | +4.7% |
| Taxes, remuneration and social security | 45 | €2,150 | €2,005 | -€145 | -6.7% |
| Taxes | 450/3 | €2,150 | €2,005 | -€145 | -6.7% |
| Other amounts payable | 47/48 | €94,357 | €99,033 | +€4,676 | +5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,016 | - | +€26,016 | |
| Other operating charges | 640/8 | €32,128 | €6,295 | -€25,833 | -80.4% |
| Gross operating margin | 9900 | €43,673 | €42,593 | -€1,080 | -2.5% |
| Operating profit (loss) | 9901 | €37,561 | €36,298 | -€1,263 | -3.4% |
| Financial income | 75/76B | - | €2,569 | +€2,569 | |
| Recurring financial income | 75 | - | €2,569 | +€2,569 | |
| Financial charges | 65/66B | €7,218 | €9,519 | +€2,301 | +31.9% |
| Recurring financial charges | 65 | €7,218 | €9,519 | +€2,301 | +31.9% |
| Profit (loss) for the period before taxes | 9903 | €30,343 | €29,348 | -€995 | -3.3% |
| Income taxes | 67/77 | €7,586 | €7,337 | -€249 | -3.3% |
| Profit (loss) for the period | 9904 | €22,757 | €22,011 | -€746 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,757 | €22,011 | -€746 | -3.3% |
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 29 September 2026 via checked.be.