GESTEC: 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.
GESTEC
Largest movements
- Receivables within one year -€20,981
no longer reported in 2025 (was €20,981)
- Tangible fixed assets -€19,541
down €19,541 (-6.9%), from €281,738 to €262,198
of which Land and buildings: -€19,508
- Cash -€19,508
down €19,508 (-26.5%), from €73,504 to €53,996
mainly Net result for the year (-€41,471) and Debts after one year (-€19,894)
- Profit (loss) carried forward -€41,471
down €41,471 (-52.4%), from €79,158 to €37,687
- Debts after one year -€19,894
down €19,894 (-37.5%), from €52,988 to €33,094
- Staff costs +€18,343
up €18,343 (+89.3%), from €20,539 to €38,882
- Gross operating margin +€1,966
up €1,966 (+9.5%), from €20,647 to €22,613
- Depreciation -€816
down €816 (-4.0%), from €20,357 to €19,541
- Other operating charges +€667
up €667 (+15.4%), from €4,338 to €5,005
- Taxes +€346
new in 2025: €346
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.
Derived cash bridge
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 | €378,936 | €318,850 | -€60,085 | -15.9% |
| Fixed assets | 21/28 | €282,000 | €262,459 | -€19,541 | -6.9% |
| Tangible fixed assets | 22/27 | €281,738 | €262,198 | -€19,541 | -6.9% |
| Land and buildings | 22 | €281,706 | €262,198 | -€19,508 | -6.9% |
| Plant, machinery and equipment | 23 | €32 | - | -€32 | |
| Financial fixed assets | 28 | €261 | €261 | = | 0.0% |
| Current assets | 29/58 | €96,936 | €56,391 | -€40,545 | -41.8% |
| Amounts receivable within one year | 40/41 | €20,981 | - | -€20,981 | |
| Other amounts receivable | 41 | €20,981 | - | -€20,981 | |
| Cash at bank and in hand | 54/58 | €73,504 | €53,996 | -€19,508 | -26.5% |
| Deferred charges and accrued income | 490/1 | €2,451 | €2,395 | -€56 | -2.3% |
| Total equity and liabilities | 10/49 | €378,936 | €318,850 | -€60,085 | -15.9% |
| Equity | 10/15 | €316,592 | €275,122 | -€41,471 | -13.1% |
| 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 | €175,434 | €175,434 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,270 | €6,270 | = | 0.0% |
| Legal reserve | 130 | €6,270 | €6,270 | = | 0.0% |
| Distributable reserves | 133 | €169,164 | €169,164 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,158 | €37,687 | -€41,471 | -52.4% |
| Amounts payable | 17/49 | €62,343 | €43,729 | -€18,615 | -29.9% |
| Amounts payable after more than one year | 17 | €52,988 | €33,094 | -€19,894 | -37.5% |
| Financial debts | 170/4 | €52,988 | €33,094 | -€19,894 | -37.5% |
| Amounts payable within one year | 42/48 | €9,355 | €10,635 | +€1,280 | +13.7% |
| Trade debts | 44 | €739 | €2,760 | +€2,022 | +274% |
| Suppliers | 440/4 | €739 | €2,760 | +€2,022 | +274% |
| Taxes, remuneration and social security | 45 | €5,737 | €5,856 | +€119 | +2.1% |
| Taxes | 450/3 | €676 | - | -€676 | |
| Remuneration and social security | 454/9 | €5,061 | €5,856 | +€795 | +15.7% |
| Other amounts payable | 47/48 | €2,879 | €2,018 | -€861 | -29.9% |
| Remuneration, social security and pensions | 62 | €20,539 | €38,882 | +€18,343 | +89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,357 | €19,541 | -€816 | -4.0% |
| Other operating charges | 640/8 | €4,338 | €5,005 | +€667 | +15.4% |
| Gross operating margin | 9900 | €20,647 | €22,613 | +€1,966 | +9.5% |
| Operating profit (loss) | 9901 | -€24,587 | -€40,814 | -€16,228 | -66.0% |
| Financial income | 75/76B | €0 | €5 | +€5 | +10,820% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +10,820% |
| Financial charges | 65/66B | €278 | €316 | +€38 | +13.5% |
| Recurring financial charges | 65 | €278 | €316 | +€38 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€24,865 | -€41,125 | -€16,260 | -65.4% |
| Income taxes | 67/77 | - | €346 | +€346 | |
| Profit (loss) for the period | 9904 | -€24,865 | -€41,471 | -€16,606 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,865 | -€41,471 | -€16,606 | -66.8% |
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 27 October 2026 via checked.be.