Gest-i9: 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.
Gest-i9
Largest movements
- Tangible fixed assets +€35,275
up €35,275 (+201.5%), from €17,508 to €52,783
of which Furniture and vehicles: +€35,754
- Cash -€12,616
down €12,616 (-10.2%), from €123,314 to €110,698
mainly Contributions, distributions and other (-€100,000) and Investment in fixed assets (net) (-€48,588)
- Debts after one year +€23,263
up €23,263 (+266.0%), from €8,745 to €32,008
- Profit (loss) carried forward -€9,680
down €9,680 (-9.5%), from €101,448 to €91,768
- Current portion of long-term debt +€7,642
up €7,642 (+138.4%), from €5,523 to €13,165
- Trade debts +€2,508
up €2,508 (+1660.9%), from €151 to €2,659
- Depreciation +€6,152
up €6,152 (+85.9%), from €7,161 to €13,313
- Gross operating margin -€5,303
down €5,303 (-3.6%), from €146,887 to €141,584
- Taxes -€3,033
down €3,033 (-9.0%), from €33,588 to €30,555
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 | €160,540 | €184,112 | +€23,572 | +14.7% |
| Fixed assets | 21/28 | €17,508 | €52,783 | +€35,275 | +201.5% |
| Tangible fixed assets | 22/27 | €17,508 | €52,783 | +€35,275 | +201.5% |
| Plant, machinery and equipment | 23 | €959 | €480 | -€479 | -49.9% |
| Furniture and vehicles | 24 | €16,549 | €52,303 | +€35,754 | +216.0% |
| Current assets | 29/58 | €143,032 | €131,329 | -€11,703 | -8.2% |
| Amounts receivable within one year | 40/41 | €18,423 | €18,517 | +€94 | +0.5% |
| Trade receivables | 40 | €18,322 | €18,517 | +€195 | +1.1% |
| Other amounts receivable | 41 | €101 | - | -€101 | |
| Cash at bank and in hand | 54/58 | €123,314 | €110,698 | -€12,616 | -10.2% |
| Deferred charges and accrued income | 490/1 | €1,295 | €2,114 | +€819 | +63.2% |
| Total equity and liabilities | 10/49 | €160,540 | €184,112 | +€23,572 | +14.7% |
| Equity | 10/15 | €143,655 | €133,975 | -€9,680 | -6.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €36,207 | €36,207 | = | 0.0% |
| Distributable reserves | 133 | €36,207 | €36,207 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,448 | €91,768 | -€9,680 | -9.5% |
| Amounts payable | 17/49 | €16,885 | €50,137 | +€33,252 | +196.9% |
| Amounts payable after more than one year | 17 | €8,745 | €32,008 | +€23,263 | +266.0% |
| Financial debts | 170/4 | €8,745 | €32,008 | +€23,263 | +266.0% |
| Amounts payable within one year | 42/48 | €8,043 | €18,129 | +€10,086 | +125.4% |
| Current portion of amounts payable after more than one year | 42 | €5,523 | €13,165 | +€7,642 | +138.4% |
| Trade debts | 44 | €151 | €2,659 | +€2,508 | +1660.9% |
| Suppliers | 440/4 | €151 | €2,659 | +€2,508 | +1660.9% |
| Taxes, remuneration and social security | 45 | €2,369 | €2,305 | -€64 | -2.7% |
| Taxes | 450/3 | €507 | €443 | -€64 | -12.6% |
| Remuneration and social security | 454/9 | €1,862 | €1,862 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €97 | - | -€97 | |
| Remuneration, social security and pensions | 62 | €6,077 | €6,178 | +€101 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,161 | €13,313 | +€6,152 | +85.9% |
| Other operating charges | 640/8 | €533 | €662 | +€129 | +24.2% |
| Gross operating margin | 9900 | €146,887 | €141,584 | -€5,303 | -3.6% |
| Operating profit (loss) | 9901 | €133,116 | €121,431 | -€11,685 | -8.8% |
| Financial income | 75/76B | €628 | €372 | -€256 | -40.8% |
| Recurring financial income | 75 | €628 | €372 | -€256 | -40.8% |
| Financial charges | 65/66B | €82 | €928 | +€846 | +1031.7% |
| Recurring financial charges | 65 | €82 | €928 | +€846 | +1031.7% |
| Profit (loss) for the period before taxes | 9903 | €133,662 | €120,875 | -€12,787 | -9.6% |
| Income taxes | 67/77 | €33,588 | €30,555 | -€3,033 | -9.0% |
| Profit (loss) for the period | 9904 | €100,074 | €90,320 | -€9,754 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €100,074 | €90,320 | -€9,754 | -9.7% |
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 9 October 2026 via checked.be.