GESPICON: 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.
GESPICON
Largest movements
- Cash -€23,233
down €23,233 (-26.4%), from €87,947 to €64,714
mainly Debts after one year (-€36,784) and Investment in fixed assets (net) (-€28,461)
- Receivables within one year +€6,497
up €6,497 (+56.4%), from €11,530 to €18,027
of which Trade receivables: +€6,789
- Tangible fixed assets -€6,435
down €6,435 (-1.5%), from €431,136 to €424,701
of which Furniture and vehicles: -€18,007
- Debts after one year -€36,784
down €36,784 (-14.2%), from €259,074 to €222,290
- Reserves +€9,509
up €9,509 (+6.7%), from €142,821 to €152,330
- Gross operating margin -€11,820
down €11,820 (-15.4%), from €76,627 to €64,807
- Financial charges -€4,411
down €4,411 (-24.8%), from €17,762 to €13,351
- Taxes -€2,371
down €2,371 (-30.9%), from €7,661 to €5,290
- Depreciation +€1,745
up €1,745 (+5.3%), from €33,152 to €34,896
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 | €530,613 | €507,442 | -€23,171 | -4.4% |
| Fixed assets | 21/28 | €431,136 | €424,701 | -€6,435 | -1.5% |
| Tangible fixed assets | 22/27 | €431,136 | €424,701 | -€6,435 | -1.5% |
| Land and buildings | 22 | €359,022 | €370,593 | +€11,571 | +3.2% |
| Furniture and vehicles | 24 | €72,114 | €54,108 | -€18,007 | -25.0% |
| Current assets | 29/58 | €99,476 | €82,741 | -€16,735 | -16.8% |
| Amounts receivable within one year | 40/41 | €11,530 | €18,027 | +€6,497 | +56.4% |
| Trade receivables | 40 | €11,233 | €18,022 | +€6,789 | +60.4% |
| Other amounts receivable | 41 | €297 | €5 | -€292 | -98.3% |
| Cash at bank and in hand | 54/58 | €87,947 | €64,714 | -€23,233 | -26.4% |
| Total equity and liabilities | 10/49 | €530,613 | €507,442 | -€23,171 | -4.4% |
| Equity | 10/15 | €174,321 | €183,830 | +€9,509 | +5.5% |
| Contributions | 10/11 | €31,500 | €31,500 | = | 0.0% |
| Reserves | 13 | €142,821 | €152,330 | +€9,509 | +6.7% |
| Distributable reserves | 133 | €142,821 | €152,330 | +€9,509 | +6.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €356,292 | €323,613 | -€32,679 | -9.2% |
| Amounts payable after more than one year | 17 | €259,074 | €222,290 | -€36,784 | -14.2% |
| Financial debts | 170/4 | €259,074 | €222,290 | -€36,784 | -14.2% |
| Amounts payable within one year | 42/48 | €97,121 | €101,323 | +€4,202 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €32,576 | €35,564 | +€2,989 | +9.2% |
| Trade debts | 44 | €3,765 | €1,009 | -€2,756 | -73.2% |
| Suppliers | 440/4 | €3,765 | €1,009 | -€2,756 | -73.2% |
| Taxes, remuneration and social security | 45 | €10,954 | €12,670 | +€1,717 | +15.7% |
| Taxes | 450/3 | €10,954 | €12,670 | +€1,717 | +15.7% |
| Other amounts payable | 47/48 | €49,827 | €52,080 | +€2,252 | +4.5% |
| Accrued charges and deferred income | 492/3 | €97 | €0 | -€97 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,152 | €34,896 | +€1,745 | +5.3% |
| Other operating charges | 640/8 | €1,920 | €1,979 | +€59 | +3.1% |
| Gross operating margin | 9900 | €76,627 | €64,807 | -€11,820 | -15.4% |
| Operating profit (loss) | 9901 | €41,556 | €27,932 | -€13,623 | -32.8% |
| Financial income | 75/76B | €408 | €217 | -€191 | -46.7% |
| Recurring financial income | 75 | €408 | €217 | -€191 | -46.7% |
| Financial charges | 65/66B | €17,762 | €13,351 | -€4,411 | -24.8% |
| Recurring financial charges | 65 | €17,762 | €13,351 | -€4,411 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €24,202 | €14,799 | -€9,403 | -38.9% |
| Income taxes | 67/77 | €7,661 | €5,290 | -€2,371 | -30.9% |
| Profit (loss) for the period | 9904 | €16,541 | €9,509 | -€7,032 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,541 | €9,509 | -€7,032 | -42.5% |
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 10 October 2026 via checked.be.