GESPAP: 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.
GESPAP
Largest movements
- Cash +€25,487
up €25,487 (+72.7%), from €35,035 to €60,522
mainly Net result for the year (+€61,175) and Depreciation (+€33,607)
- Receivables within one year +€23,758
up €23,758 (+548.3%), from €4,333 to €28,091
of which Other amounts receivable: +€23,871
- Tangible fixed assets -€20,980
down €20,980 (-6.2%), from €340,471 to €319,491
of which Plant, machinery and equipment: -€11,159
- Reserves +€61,150
up €61,150 (+78.3%), from €78,060 to €139,210
of which Distributable reserves: +€63,010
- Debts after one year -€25,672
down €25,672 (-10.5%), from €243,893 to €218,221
- Trade debts -€8,449
down €8,449 (-59.4%), from €14,235 to €5,786
- Gross operating margin +€18,281
up €18,281 (+8.6%), from €213,517 to €231,798
- Depreciation -€14,342
down €14,342 (-29.9%), from €47,950 to €33,607
- Staff costs -€13,274
down €13,274 (-12.8%), from €103,833 to €90,559
- Taxes +€10,387
up €10,387 (+71.1%), from €14,605 to €24,992
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €431,504 | €461,640 | +€30,136 | +7.0% |
| Fixed assets | 21/28 | €340,731 | €319,751 | -€20,980 | -6.2% |
| Tangible fixed assets | 22/27 | €340,471 | €319,491 | -€20,980 | -6.2% |
| Land and buildings | 22 | €305,655 | €295,460 | -€10,196 | -3.3% |
| Plant, machinery and equipment | 23 | €25,055 | €13,896 | -€11,159 | -44.5% |
| Furniture and vehicles | 24 | €1,653 | €10,136 | +€8,483 | +513.2% |
| Other tangible fixed assets | 26 | €8,108 | - | -€8,108 | |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €90,773 | €141,889 | +€51,116 | +56.3% |
| Stocks and contracts in progress | 3 | €46,468 | €50,767 | +€4,299 | +9.3% |
| Stocks | 30/36 | €46,468 | €50,767 | +€4,299 | +9.3% |
| Amounts receivable within one year | 40/41 | €4,333 | €28,091 | +€23,758 | +548.3% |
| Trade receivables | 40 | €3,772 | €3,659 | -€113 | -3.0% |
| Other amounts receivable | 41 | €561 | €24,433 | +€23,871 | +4251.8% |
| Cash at bank and in hand | 54/58 | €35,035 | €60,522 | +€25,487 | +72.7% |
| Deferred charges and accrued income | 490/1 | €4,937 | €2,508 | -€2,429 | -49.2% |
| Total equity and liabilities | 10/49 | €431,504 | €461,640 | +€30,136 | +7.0% |
| Equity | 10/15 | €124,993 | €186,168 | +€61,175 | +48.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €78,060 | €139,210 | +€61,150 | +78.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €76,200 | €139,210 | +€63,010 | +82.7% |
| Profit (loss) carried forward | 14 | €34,533 | €34,558 | +€25 | +0.1% |
| Amounts payable | 17/49 | €306,511 | €275,472 | -€31,039 | -10.1% |
| Amounts payable after more than one year | 17 | €243,893 | €218,221 | -€25,672 | -10.5% |
| Financial debts | 170/4 | €243,893 | €218,221 | -€25,672 | -10.5% |
| Amounts payable within one year | 42/48 | €61,954 | €55,789 | -€6,165 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €25,603 | €27,765 | +€2,163 | +8.4% |
| Trade debts | 44 | €14,235 | €5,786 | -€8,449 | -59.4% |
| Suppliers | 440/4 | €14,235 | €5,786 | -€8,449 | -59.4% |
| Taxes, remuneration and social security | 45 | €21,558 | €22,238 | +€680 | +3.2% |
| Taxes | 450/3 | €15,548 | €13,555 | -€1,993 | -12.8% |
| Remuneration and social security | 454/9 | €6,009 | €8,683 | +€2,674 | +44.5% |
| Other amounts payable | 47/48 | €559 | - | -€559 | |
| Accrued charges and deferred income | 492/3 | €664 | €1,462 | +€798 | +120.3% |
| Remuneration, social security and pensions | 62 | €103,833 | €90,559 | -€13,274 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,950 | €33,607 | -€14,342 | -29.9% |
| Other operating charges | 640/8 | €8,815 | €9,930 | +€1,115 | +12.7% |
| Gross operating margin | 9900 | €213,517 | €231,798 | +€18,281 | +8.6% |
| Operating profit (loss) | 9901 | €52,920 | €97,702 | +€44,782 | +84.6% |
| Financial income | 75/76B | €229 | €608 | +€380 | +166.0% |
| Recurring financial income | 75 | €229 | €608 | +€380 | +166.0% |
| Financial charges | 65/66B | €12,832 | €12,143 | -€688 | -5.4% |
| Recurring financial charges | 65 | €12,832 | €12,143 | -€688 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €40,317 | €86,167 | +€45,850 | +113.7% |
| Income taxes | 67/77 | €14,605 | €24,992 | +€10,387 | +71.1% |
| Profit (loss) for the period | 9904 | €25,711 | €61,175 | +€35,464 | +137.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,711 | €61,175 | +€35,464 | +137.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.