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 +€33,241
up €33,241 (+1284.3%), from €2,588 to €35,830
of which Furniture and vehicles: +€33,745
- Receivables within one year +€17,720
up €17,720 (+20.6%), from €85,855 to €103,575
of which Other amounts receivable: +€18,053
- Cash -€16,866
down €16,866 (-91.8%), from €18,382 to €1,516
mainly Investment in fixed assets (net) (-€36,879) and Receivables within one year (-€17,720)
- Debts after one year +€27,123
new in 2025: €27,123
- Current portion of long-term debt +€6,759
new in 2025: €6,759
- Profit (loss) carried forward +€1,851
up €1,851 (+2.0%), from €93,197 to €95,048
- Gross operating margin -€18,503
down €18,503 (-64.9%), from €28,528 to €10,026
- Taxes -€6,505
down €6,505 (-90.5%), from €7,192 to €686
- Depreciation +€2,921
up €2,921 (+408.0%), from €716 to €3,637
- Staff costs +€2,561
up €2,561, from -€2,561 to €0
- Financial charges +€1,035
up €1,035 (+141.4%), from €732 to €1,767
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 | €111,463 | €145,533 | +€34,071 | +30.6% |
| Fixed assets | 21/28 | €2,588 | €35,830 | +€33,241 | +1284.3% |
| Tangible fixed assets | 22/27 | €2,588 | €35,830 | +€33,241 | +1284.3% |
| Plant, machinery and equipment | 23 | €698 | €308 | -€390 | -55.9% |
| Furniture and vehicles | 24 | €981 | €34,726 | +€33,745 | +3438.4% |
| Other tangible fixed assets | 26 | €909 | €796 | -€114 | -12.5% |
| Current assets | 29/58 | €108,874 | €109,703 | +€829 | +0.8% |
| Stocks and contracts in progress | 3 | €3,816 | €4,612 | +€796 | +20.9% |
| Stocks | 30/36 | €3,816 | €4,612 | +€796 | +20.9% |
| Amounts receivable within one year | 40/41 | €85,855 | €103,575 | +€17,720 | +20.6% |
| Trade receivables | 40 | €979 | €646 | -€332 | -34.0% |
| Other amounts receivable | 41 | €84,876 | €102,929 | +€18,053 | +21.3% |
| Cash at bank and in hand | 54/58 | €18,382 | €1,516 | -€16,866 | -91.8% |
| Deferred charges and accrued income | 490/1 | €821 | €0 | -€821 | -100.0% |
| Total equity and liabilities | 10/49 | €111,463 | €145,533 | +€34,071 | +30.6% |
| Equity | 10/15 | €105,257 | €107,108 | +€1,851 | +1.8% |
| Contributions | 10/11 | €12,060 | €12,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,197 | €95,048 | +€1,851 | +2.0% |
| Amounts payable | 17/49 | €6,206 | €38,426 | +€32,220 | +519.2% |
| Amounts payable after more than one year | 17 | - | €27,123 | +€27,123 | |
| Financial debts | 170/4 | - | €27,123 | +€27,123 | |
| Amounts payable within one year | 42/48 | €6,206 | €11,303 | +€5,097 | +82.1% |
| Current portion of amounts payable after more than one year | 42 | - | €6,759 | +€6,759 | |
| Financial debts | 43 | €1,696 | €1,690 | -€6 | -0.4% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €1,696 | €1,690 | -€6 | -0.4% |
| Trade debts | 44 | €1,782 | €462 | -€1,319 | -74.0% |
| Suppliers | 440/4 | €1,782 | €462 | -€1,319 | -74.0% |
| Taxes, remuneration and social security | 45 | €2,729 | €2,392 | -€337 | -12.3% |
| Taxes | 450/3 | €2,729 | €2,392 | -€337 | -12.3% |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Remuneration, social security and pensions | 62 | -€2,561 | €0 | +€2,561 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €716 | €3,637 | +€2,921 | +408.0% |
| Other operating charges | 640/8 | €2,523 | €2,093 | -€430 | -17.0% |
| Gross operating margin | 9900 | €28,528 | €10,026 | -€18,503 | -64.9% |
| Operating profit (loss) | 9901 | €27,851 | €4,296 | -€23,555 | -84.6% |
| Financial income | 75/76B | €54 | €9 | -€45 | -83.8% |
| Recurring financial income | 75 | €54 | €9 | -€45 | -83.8% |
| Financial charges | 65/66B | €732 | €1,767 | +€1,035 | +141.4% |
| Recurring financial charges | 65 | €732 | €1,767 | +€1,035 | +141.4% |
| Profit (loss) for the period before taxes | 9903 | €27,172 | €2,537 | -€24,635 | -90.7% |
| Income taxes | 67/77 | €7,192 | €686 | -€6,505 | -90.5% |
| Profit (loss) for the period | 9904 | €19,980 | €1,851 | -€18,129 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,980 | €1,851 | -€18,129 | -90.7% |
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 1 October 2026 via checked.be.