GESTIVAN: 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.
GESTIVAN
Largest movements
- Tangible fixed assets +€661,636
up €661,636 (+9.2%), from €7.2m to €7.9m
of which Land and buildings: +€576,605
- Receivables within one year +€346,385
up €346,385 (+13.7%), from €2.5m to €2.9m
of which Other amounts receivable: +€723,605
- Deferred charges and accrued income +€179,857
up €179,857 (+114%), from €158,297 to €338,154
- Reserves +€819,334
up €819,334 (+44.5%), from €1.8m to €2.7m
of which Tax-exempt reserves: +€817,744
- Debts after one year +€812,221
up €812,221 (+11.1%), from €7.3m to €8.1m
of which Financial debts: +€819,221
- Trade debts -€677,437
down €677,437 (-96.3%), from €703,188 to €25,751
- Provisions +€272,581
up €272,581 (+45.8%), from €595,465 to €868,046
- Gross operating margin -€997,741
down €997,741 (-37.9%), from €2.6m to €1.6m
- Depreciation +€317,781
up €317,781 (+234%), from €135,677 to €453,458
- Financial income +€147,486
up €147,486 (+220%), from €67,119 to €214,605
- Financial charges +€138,660
up €138,660 (+364%), from €38,082 to €176,742
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 | €11,645,646 | €12,916,425 | +€1.3m | +10.9% |
| Formation expenses | 20 | €12,668 | €4,542 | -€8,126 | -64.1% |
| Fixed assets | 21/28 | €8,682,996 | €9,374,632 | +€691,636 | +8.0% |
| Tangible fixed assets | 22/27 | €7,210,969 | €7,872,605 | +€661,636 | +9.2% |
| Land and buildings | 22 | €7,157,953 | €7,734,558 | +€576,605 | +8.1% |
| Plant, machinery and equipment | 23 | - | €129,350 | +€129,350 | |
| Other tangible fixed assets | 26 | €53,016 | €8,697 | -€44,319 | -83.6% |
| Financial fixed assets | 28 | €1,472,027 | €1,502,027 | +€30,000 | +2.0% |
| Current assets | 29/58 | €2,949,982 | €3,537,251 | +€587,269 | +19.9% |
| Amounts receivable within one year | 40/41 | €2,521,622 | €2,868,007 | +€346,385 | +13.7% |
| Trade receivables | 40 | €441,622 | €64,402 | -€377,220 | -85.4% |
| Other amounts receivable | 41 | €2,080,000 | €2,803,605 | +€723,605 | +34.8% |
| Cash at bank and in hand | 54/58 | €270,063 | €331,090 | +€61,026 | +22.6% |
| Deferred charges and accrued income | 490/1 | €158,297 | €338,154 | +€179,857 | +114% |
| Total equity and liabilities | 10/49 | €11,645,646 | €12,916,425 | +€1.3m | +10.9% |
| Equity | 10/15 | €2,840,494 | €3,690,047 | +€849,553 | +29.9% |
| Contributions | 10/11 | €1,026,720 | €1,026,720 | = | 0.0% |
| Capital | 10 | €1,026,720 | €1,026,720 | = | 0.0% |
| Issued capital | 100 | €1,026,720 | €1,026,720 | = | 0.0% |
| Reserves | 13 | €1,842,717 | €2,662,051 | +€819,334 | +44.5% |
| Non-distributable reserves | 130/1 | €56,322 | €57,913 | +€1,591 | +2.8% |
| Legal reserve | 130 | €56,322 | €57,913 | +€1,591 | +2.8% |
| Tax-exempt reserves | 132 | €1,786,395 | €2,604,139 | +€817,744 | +45.8% |
| Profit (loss) carried forward | 14 | -€28,944 | €1,276 | +€30,219 | |
| Provisions and deferred taxes | 16 | €595,465 | €868,046 | +€272,581 | +45.8% |
| Deferred taxes | 168 | €595,465 | €868,046 | +€272,581 | +45.8% |
| Amounts payable | 17/49 | €8,209,687 | €8,358,331 | +€148,644 | +1.8% |
| Amounts payable after more than one year | 17 | €7,325,721 | €8,137,943 | +€812,221 | +11.1% |
| Financial debts | 170/4 | €7,316,937 | €8,136,158 | +€819,221 | +11.2% |
| Other amounts payable | 178/9 | €8,785 | €1,785 | -€7,000 | -79.7% |
| Amounts payable within one year | 42/48 | €876,090 | €162,537 | -€713,552 | -81.4% |
| Current portion of amounts payable after more than one year | 42 | €88,232 | €123,013 | +€34,781 | +39.4% |
| Trade debts | 44 | €703,188 | €25,751 | -€677,437 | -96.3% |
| Suppliers | 440/4 | €703,188 | €25,751 | -€677,437 | -96.3% |
| Taxes, remuneration and social security | 45 | €0 | €13,774 | +€13,774 | |
| Taxes | 450/3 | €0 | €13,774 | +€13,774 | |
| Other amounts payable | 47/48 | €84,670 | €0 | -€84,670 | -100% |
| Accrued charges and deferred income | 492/3 | €7,876 | €57,851 | +€49,975 | +635% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,677 | €453,458 | +€317,781 | +234% |
| Other operating charges | 640/8 | €98,066 | €97,045 | -€1,021 | -1.0% |
| Gross operating margin | 9900 | €2,632,516 | €1,634,775 | -€997,741 | -37.9% |
| Operating profit (loss) | 9901 | €2,398,773 | €1,084,272 | -€1.3m | -54.8% |
| Financial income | 75/76B | €67,119 | €214,605 | +€147,486 | +220% |
| Recurring financial income | 75 | €67,119 | €214,605 | +€147,486 | +220% |
| Financial charges | 65/66B | €38,082 | €176,742 | +€138,660 | +364% |
| Recurring financial charges | 65 | €38,082 | €176,742 | +€138,660 | +364% |
| Profit (loss) for the period before taxes | 9903 | €2,427,810 | €1,122,135 | -€1.3m | -53.8% |
| Transfer from deferred taxes | 780 | €1,239 | €1,882 | +€643 | +51.9% |
| Transfer to deferred taxes | 680 | €596,704 | €274,463 | -€322,241 | -54.0% |
| Income taxes | 67/77 | €9,828 | €0 | -€9,828 | -100% |
| Profit (loss) for the period | 9904 | €1,822,518 | €849,553 | -€972,964 | -53.4% |
| Transfer from tax-exempt reserves | 789 | €3,716 | €5,645 | +€1,930 | +51.9% |
| Transfer to tax-exempt reserves | 689 | €1,790,111 | €823,389 | -€966,722 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,122 | €31,810 | -€4,313 | -11.9% |
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 27 October 2026 via checked.be.