GESTIPHAR: 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.
What changed
GESTIPHAR
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,135
2024 · €300,731-€296,595
Equity
€724,711
2024 · €720,576+€4,135
Cash
€118,165
2024 · €107,042+€11,123
Balance sheet total
€3.2m
2024 · €3.0m+€139,112
Largest movements
Assets
- Receivables within one year +€154,315
up €154,315 (+25.0%), from €617,623 to €771,937
of which Trade receivables: +€80,587
Equity and liabilities
- Other debts +€364,880
up €364,880 (+41.8%), from €873,466 to €1.2m
- Debts after one year -€133,489
down €133,489 (-12.4%), from €1.1m to €940,978
- Tax, wage and social debts -€119,988
down €119,988 (-64.8%), from €185,069 to €65,081
of which Taxes: -€123,349
Income statement
- Gross operating margin -€316,817
down €316,817 (-37.2%), from €850,660 to €533,843
- Taxes -€146,820
down €146,820 (-96.8%), from €151,603 to €4,783
- Financial charges +€118,327
up €118,327 (+143%), from €82,466 to €200,793
- Staff costs +€42,127
up €42,127 (+39.3%), from €107,158 to €149,285
- Depreciation -€32,532
down €32,532 (-16.6%), from €195,822 to €163,291
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.
Result 2024
€300,731
Gross operating margin
-€316,817
Staff costs
-€42,127
Depreciation
+€32,532
Other operating charges
+€1,409
Other operating items
+€13
Financial income
-€101
Financial charges
-€118,327
Taxes
+€146,820
Result 2025
€4,135
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€269,147
Investment
-€139,206
Financing
-€118,817
Cash 2024
€107,042
From operations (derived)
+€269,147
Net result for the year
+€4,135
Depreciation
+€163,291
Receivables within one year
-€154,315
Deferred charges and accrued income
+€2,241
Trade debts
+€22,393
Tax, wage and social debts
-€119,988
Other debts
+€364,880
Accrued charges and deferred income
-€13,491
Investment (derived)
-€139,206
Investment in fixed assets (net)
-€139,206
Financing
-€118,817
Debts after one year
-€133,489
Current portion of long-term debt
+€14,672
Cash 2025
€118,165
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,030,861 | €3,169,974 | +€139,112 | +4.6% |
| Fixed assets | 21/28 | €2,292,699 | €2,268,614 | -€24,084 | -1.1% |
| Tangible fixed assets | 22/27 | €1,392,699 | €1,368,614 | -€24,084 | -1.7% |
| Land and buildings | 22 | €1,326,741 | €1,223,126 | -€103,615 | -7.8% |
| Plant, machinery and equipment | 23 | €1,501 | €796 | -€705 | -47.0% |
| Furniture and vehicles | 24 | €64,457 | €144,692 | +€80,236 | +124% |
| Financial fixed assets | 28 | €900,000 | €900,000 | = | 0.0% |
| Current assets | 29/58 | €738,163 | €901,359 | +€163,197 | +22.1% |
| Amounts receivable within one year | 40/41 | €617,623 | €771,937 | +€154,315 | +25.0% |
| Trade receivables | 40 | €310,709 | €391,296 | +€80,587 | +25.9% |
| Other amounts receivable | 41 | €306,913 | €380,641 | +€73,728 | +24.0% |
| Cash at bank and in hand | 54/58 | €107,042 | €118,165 | +€11,123 | +10.4% |
| Deferred charges and accrued income | 490/1 | €13,498 | €11,257 | -€2,241 | -16.6% |
| Total equity and liabilities | 10/49 | €3,030,861 | €3,169,974 | +€139,112 | +4.6% |
| Equity | 10/15 | €720,576 | €724,711 | +€4,135 | +0.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €714,376 | €718,511 | +€4,135 | +0.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €712,516 | €716,651 | +€4,135 | +0.6% |
| Amounts payable | 17/49 | €2,310,286 | €2,445,263 | +€134,977 | +5.8% |
| Amounts payable after more than one year | 17 | €1,074,467 | €940,978 | -€133,489 | -12.4% |
| Financial debts | 170/4 | €1,074,467 | €940,978 | -€133,489 | -12.4% |
| Amounts payable within one year | 42/48 | €1,222,328 | €1,504,285 | +€281,957 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €129,772 | €144,444 | +€14,672 | +11.3% |
| Trade debts | 44 | €34,021 | €56,414 | +€22,393 | +65.8% |
| Suppliers | 440/4 | €34,021 | €56,414 | +€22,393 | +65.8% |
| Taxes, remuneration and social security | 45 | €185,069 | €65,081 | -€119,988 | -64.8% |
| Taxes | 450/3 | €166,362 | €43,014 | -€123,349 | -74.1% |
| Remuneration and social security | 454/9 | €18,706 | €22,067 | +€3,361 | +18.0% |
| Other amounts payable | 47/48 | €873,466 | €1,238,346 | +€364,880 | +41.8% |
| Accrued charges and deferred income | 492/3 | €13,491 | - | -€13,491 | |
| Remuneration, social security and pensions | 62 | €107,158 | €149,285 | +€42,127 | +39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195,822 | €163,291 | -€32,532 | -16.6% |
| Other operating charges | 640/8 | €12,967 | €11,558 | -€1,409 | -10.9% |
| Non-recurring operating charges | 66A | €13 | - | -€13 | |
| Gross operating margin | 9900 | €850,660 | €533,843 | -€316,817 | -37.2% |
| Operating profit (loss) | 9901 | €534,698 | €209,710 | -€324,988 | -60.8% |
| Financial income | 75/76B | €102 | €1 | -€101 | -99.1% |
| Recurring financial income | 75 | €102 | €1 | -€101 | -99.1% |
| Financial charges | 65/66B | €82,466 | €200,793 | +€118,327 | +143% |
| Recurring financial charges | 65 | €82,466 | €200,793 | +€118,327 | +143% |
| Profit (loss) for the period before taxes | 9903 | €452,334 | €8,918 | -€443,416 | -98.0% |
| Income taxes | 67/77 | €151,603 | €4,783 | -€146,820 | -96.8% |
| Profit (loss) for the period | 9904 | €300,731 | €4,135 | -€296,595 | -98.6% |
| Profit (loss) for the period to be appropriated | 9905 | €300,731 | €4,135 | -€296,595 | -98.6% |
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 23 October 2026 via checked.be.