GESTANET: 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.
GESTANET
Largest movements
- Receivables within one year -€277,553
down €277,553 (-12.1%), from €2.3m to €2.0m
of which Trade receivables: -€279,543
- Cash +€148,857
up €148,857 (+38.6%), from €385,601 to €534,458
mainly Receivables within one year (+€277,553) and Net result for the year (+€265,946)
- Intangible fixed assets -€63,572
down €63,572 (-50.0%), from €127,143 to €63,571
- Tangible fixed assets -€41,127
down €41,127 (-22.1%), from €186,322 to €145,195
of which Furniture and vehicles: -€34,509
- Other debts -€245,000
down €245,000 (-48.5%), from €505,000 to €260,000
- Current portion of long-term debt -€191,539
down €191,539 (-86.5%), from €221,539 to €30,000
- Short-term financial debts +€153,389
new in 2025: €153,389
- Trade debts +€137,633
up €137,633 (+12.6%), from €1.1m to €1.2m
- Tax, wage and social debts -€62,246
down €62,246 (-10.5%), from €592,804 to €530,558
of which Remuneration and social security: -€59,326
- Staff costs -€161,815
down €161,815 (-3.6%), from €4.4m to €4.3m
- Gross operating margin -€106,357
down €106,357 (-2.1%), from €5.0m to €4.9m
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 | €3,012,276 | €2,777,759 | -€234,517 | -7.8% |
| Fixed assets | 21/28 | €314,085 | €208,766 | -€105,319 | -33.5% |
| Intangible fixed assets | 21 | €127,143 | €63,571 | -€63,572 | -50.0% |
| Tangible fixed assets | 22/27 | €186,322 | €145,195 | -€41,127 | -22.1% |
| Land and buildings | 22 | €38,835 | €33,727 | -€5,108 | -13.2% |
| Plant, machinery and equipment | 23 | €6,221 | €4,711 | -€1,510 | -24.3% |
| Furniture and vehicles | 24 | €141,266 | €106,757 | -€34,509 | -24.4% |
| Financial fixed assets | 28 | €620 | - | -€620 | |
| Current assets | 29/58 | €2,698,191 | €2,568,993 | -€129,198 | -4.8% |
| Amounts receivable within one year | 40/41 | €2,292,803 | €2,015,250 | -€277,553 | -12.1% |
| Trade receivables | 40 | €2,198,760 | €1,919,217 | -€279,543 | -12.7% |
| Other amounts receivable | 41 | €94,043 | €96,033 | +€1,990 | +2.1% |
| Cash at bank and in hand | 54/58 | €385,601 | €534,458 | +€148,857 | +38.6% |
| Deferred charges and accrued income | 490/1 | €19,787 | €19,285 | -€502 | -2.5% |
| Total equity and liabilities | 10/49 | €3,012,276 | €2,777,759 | -€234,517 | -7.8% |
| Equity | 10/15 | €569,089 | €575,035 | +€5,946 | +1.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €506,200 | €506,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €506,200 | €506,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €889 | €6,835 | +€5,946 | +668.8% |
| Amounts payable | 17/49 | €2,443,187 | €2,202,724 | -€240,463 | -9.8% |
| Amounts payable after more than one year | 17 | €30,000 | - | -€30,000 | |
| Trade debts | 175 | €30,000 | - | -€30,000 | |
| Amounts payable within one year | 42/48 | €2,410,487 | €2,202,724 | -€207,763 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €221,539 | €30,000 | -€191,539 | -86.5% |
| Financial debts | 43 | - | €153,389 | +€153,389 | |
| Credit institutions | 430/8 | - | €153,389 | +€153,389 | |
| Trade debts | 44 | €1,091,144 | €1,228,777 | +€137,633 | +12.6% |
| Suppliers | 440/4 | €1,091,144 | €1,228,777 | +€137,633 | +12.6% |
| Taxes, remuneration and social security | 45 | €592,804 | €530,558 | -€62,246 | -10.5% |
| Taxes | 450/3 | €30,530 | €27,610 | -€2,920 | -9.6% |
| Remuneration and social security | 454/9 | €562,274 | €502,948 | -€59,326 | -10.6% |
| Other amounts payable | 47/48 | €505,000 | €260,000 | -€245,000 | -48.5% |
| Accrued charges and deferred income | 492/3 | €2,700 | - | -€2,700 | |
| Remuneration, social security and pensions | 62 | €4,441,273 | €4,279,458 | -€161,815 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,246 | €104,699 | +€9,453 | +9.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€17,753 | €22,736 | +€40,489 | |
| Other operating charges | 640/8 | €31,555 | €35,447 | +€3,892 | +12.3% |
| Non-recurring operating charges | 66A | - | €25,600 | +€25,600 | |
| Gross operating margin | 9900 | €4,990,771 | €4,884,414 | -€106,357 | -2.1% |
| Operating profit (loss) | 9901 | €440,450 | €416,474 | -€23,976 | -5.4% |
| Financial income | 75/76B | €1,500 | €5,131 | +€3,631 | +242.1% |
| Recurring financial income | 75 | €1,500 | €5,131 | +€3,631 | +242.1% |
| Financial charges | 65/66B | €29,009 | €33,390 | +€4,381 | +15.1% |
| Recurring financial charges | 65 | €29,009 | €33,390 | +€4,381 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €412,941 | €388,215 | -€24,726 | -6.0% |
| Income taxes | 67/77 | €120,008 | €122,269 | +€2,261 | +1.9% |
| Profit (loss) for the period | 9904 | €292,933 | €265,946 | -€26,987 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €292,933 | €265,946 | -€26,987 | -9.2% |
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 2 October 2026 via checked.be.