GESTHO: 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.
GESTHO
Largest movements
- Cash +€23,098
up €23,098 (+78.6%), from €29,404 to €52,502
mainly Net result for the year (+€18,243) and Stocks and contracts (+€17,913)
- Stocks and contracts -€17,913
no longer reported in 2025 (was €17,913)
- Tangible fixed assets +€12,322
up €12,322 (+27.3%), from €45,107 to €57,429
of which Furniture and vehicles: +€19,995
- Receivables within one year -€3,110
down €3,110 (-33.9%), from €9,178 to €6,068
of which Other amounts receivable: -€3,490
- Reserves +€9,000
up €9,000 (+15.1%), from €59,671 to €68,671
- Profit (loss) carried forward +€8,410
up €8,410, from €0 to €8,410
- Debts after one year -€6,996
down €6,996 (-30.9%), from €22,612 to €15,616
of which Financial debts: -€6,835
- Tax, wage and social debts +€6,355
up €6,355 (+369.1%), from €1,722 to €8,077
- Trade debts -€2,696
down €2,696 (-42.6%), from €6,326 to €3,630
- Gross operating margin +€15,690
up €15,690 (+62.0%), from €25,312 to €41,002
- Other operating charges -€6,073
down €6,073 (-81.3%), from €7,469 to €1,396
- Taxes +€4,211
up €4,211 (+244.6%), from €1,722 to €5,933
- Depreciation +€3,157
up €3,157 (+26.9%), from €11,719 to €14,876
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 | €102,732 | €116,769 | +€14,037 | +13.7% |
| Fixed assets | 21/28 | €45,107 | €57,429 | +€12,322 | +27.3% |
| Tangible fixed assets | 22/27 | €45,107 | €57,429 | +€12,322 | +27.3% |
| Plant, machinery and equipment | 23 | €6,540 | €4,976 | -€1,563 | -23.9% |
| Furniture and vehicles | 24 | €8,958 | €28,953 | +€19,995 | +223.2% |
| Leasing and similar rights | 25 | €26,644 | €19,891 | -€6,753 | -25.3% |
| Other tangible fixed assets | 26 | €2,966 | €3,609 | +€643 | +21.7% |
| Current assets | 29/58 | €57,625 | €59,340 | +€1,716 | +3.0% |
| Stocks and contracts in progress | 3 | €17,913 | - | -€17,913 | |
| Contracts in progress | 37 | €17,913 | - | -€17,913 | |
| Amounts receivable within one year | 40/41 | €9,178 | €6,068 | -€3,110 | -33.9% |
| Trade receivables | 40 | €5,688 | €6,068 | +€380 | +6.7% |
| Other amounts receivable | 41 | €3,490 | - | -€3,490 | |
| Cash at bank and in hand | 54/58 | €29,404 | €52,502 | +€23,098 | +78.6% |
| Deferred charges and accrued income | 490/1 | €1,130 | €771 | -€360 | -31.8% |
| Total equity and liabilities | 10/49 | €102,732 | €116,769 | +€14,037 | +13.7% |
| Equity | 10/15 | €64,671 | €82,081 | +€17,410 | +26.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,671 | €68,671 | +€9,000 | +15.1% |
| Distributable reserves | 133 | €59,671 | €68,671 | +€9,000 | +15.1% |
| Profit (loss) carried forward | 14 | €0 | €8,410 | +€8,410 | |
| Amounts payable | 17/49 | €38,061 | €34,688 | -€3,373 | -8.9% |
| Amounts payable after more than one year | 17 | €22,612 | €15,616 | -€6,996 | -30.9% |
| Financial debts | 170/4 | €20,643 | €13,808 | -€6,835 | -33.1% |
| Other amounts payable | 178/9 | €1,969 | €1,807 | -€162 | -8.2% |
| Amounts payable within one year | 42/48 | €15,441 | €18,673 | +€3,232 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €6,560 | €6,258 | -€302 | -4.6% |
| Trade debts | 44 | €6,326 | €3,630 | -€2,696 | -42.6% |
| Suppliers | 440/4 | €6,326 | €3,630 | -€2,696 | -42.6% |
| Taxes, remuneration and social security | 45 | €1,722 | €8,077 | +€6,355 | +369.1% |
| Taxes | 450/3 | €1,722 | €8,077 | +€6,355 | +369.1% |
| Other amounts payable | 47/48 | €833 | €708 | -€125 | -15.0% |
| Accrued charges and deferred income | 492/3 | €8 | €400 | +€392 | +4792.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,719 | €14,876 | +€3,157 | +26.9% |
| Other operating charges | 640/8 | €7,469 | €1,396 | -€6,073 | -81.3% |
| Gross operating margin | 9900 | €25,312 | €41,002 | +€15,690 | +62.0% |
| Operating profit (loss) | 9901 | €6,124 | €24,730 | +€18,606 | +303.8% |
| Financial income | 75/76B | €726 | €625 | -€101 | -13.9% |
| Recurring financial income | 75 | €726 | €625 | -€101 | -13.9% |
| Financial charges | 65/66B | €1,319 | €1,178 | -€140 | -10.6% |
| Recurring financial charges | 65 | €1,319 | €1,178 | -€140 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €5,532 | €24,176 | +€18,645 | +337.1% |
| Income taxes | 67/77 | €1,722 | €5,933 | +€4,211 | +244.6% |
| Profit (loss) for the period | 9904 | €3,810 | €18,243 | +€14,433 | +378.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,810 | €18,243 | +€14,433 | +378.9% |
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.