Gestrafor: 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.
Gestrafor
Largest movements
- Tangible fixed assets +€71,763
up €71,763 (+6.0%), from €1.2m to €1.3m
of which Furniture and vehicles: +€58,787
- Receivables within one year +€66,214
up €66,214 (+53.0%), from €124,836 to €191,050
of which Trade receivables: +€43,638
- Stocks and contracts -€32,066
down €32,066 (-18.1%), from €177,442 to €145,376
- Deferred charges and accrued income +€23,730
up €23,730 (+7,283%), from €326 to €24,056
- Other debts +€560,756
up €560,756 (+23.2%), from €2.4m to €3.0m
- Profit (loss) carried forward -€482,393
down €482,393 (-4.7%), from -€10.2m to -€10.7m
- Trade debts +€61,618
up €61,618 (+42.4%), from €145,192 to €206,811
- Gross operating margin +€133,729
up €133,729, from -€36,475 to €97,254
- Financial income -€66,636
down €66,636 (-99.6%), from €66,917 to €281
- Staff costs +€54,798
up €54,798 (+24.4%), from €224,429 to €279,227
- Depreciation +€40,091
up €40,091 (+16.8%), from €238,279 to €278,370
- Financial charges -€10,859
down €10,859 (-91.9%), from €11,811 to €952
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 | €1,497,978 | €1,640,230 | +€142,253 | +9.5% |
| Fixed assets | 21/28 | €1,188,381 | €1,260,144 | +€71,763 | +6.0% |
| Tangible fixed assets | 22/27 | €1,187,910 | €1,259,673 | +€71,763 | +6.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €338,340 | €351,316 | +€12,976 | +3.8% |
| Furniture and vehicles | 24 | €849,570 | €908,357 | +€58,787 | +6.9% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €471 | €471 | = | 0.0% |
| Current assets | 29/58 | €309,597 | €380,087 | +€70,490 | +22.8% |
| Stocks and contracts in progress | 3 | €177,442 | €145,376 | -€32,066 | -18.1% |
| Stocks | 30/36 | €177,442 | €145,376 | -€32,066 | -18.1% |
| Amounts receivable within one year | 40/41 | €124,836 | €191,050 | +€66,214 | +53.0% |
| Trade receivables | 40 | €93,780 | €137,418 | +€43,638 | +46.5% |
| Other amounts receivable | 41 | €31,055 | €53,632 | +€22,576 | +72.7% |
| Cash at bank and in hand | 54/58 | €6,994 | €19,605 | +€12,611 | +180% |
| Deferred charges and accrued income | 490/1 | €326 | €24,056 | +€23,730 | +7,283% |
| Total equity and liabilities | 10/49 | €1,497,978 | €1,640,230 | +€142,253 | +9.5% |
| Equity | 10/15 | -€6,176,278 | -€6,658,951 | -€482,674 | -7.8% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,177,430 | -€10,659,823 | -€482,393 | -4.7% |
| Investment grants | 15 | €1,152 | €871 | -€281 | -24.4% |
| Amounts payable | 17/49 | €7,674,256 | €8,299,182 | +€624,926 | +8.1% |
| Amounts payable after more than one year | 17 | €5,090,000 | €5,090,000 | = | 0.0% |
| Financial debts | 170/4 | €5,090,000 | €5,090,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,584,256 | €3,208,135 | +€623,879 | +24.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €145,192 | €206,811 | +€61,618 | +42.4% |
| Suppliers | 440/4 | €145,192 | €206,811 | +€61,618 | +42.4% |
| Taxes, remuneration and social security | 45 | €20,006 | €21,512 | +€1,505 | +7.5% |
| Taxes | 450/3 | €31 | €456 | +€425 | +1,355% |
| Remuneration and social security | 454/9 | €19,975 | €21,056 | +€1,081 | +5.4% |
| Other amounts payable | 47/48 | €2,419,057 | €2,979,813 | +€560,756 | +23.2% |
| Accrued charges and deferred income | 492/3 | €0 | €1,047 | +€1,047 | |
| Non-recurring operating income | 76A | €1,353 | €10,000 | +€8,647 | +639% |
| Remuneration, social security and pensions | 62 | €224,429 | €279,227 | +€54,798 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,279 | €278,370 | +€40,091 | +16.8% |
| Other operating charges | 640/8 | €10,824 | €21,160 | +€10,336 | +95.5% |
| Non-recurring operating charges | 66A | €67,696 | €0 | -€67,696 | -100% |
| Gross operating margin | 9900 | -€36,475 | €97,254 | +€133,729 | |
| Operating profit (loss) | 9901 | -€577,703 | -€481,503 | +€96,200 | +16.7% |
| Financial income | 75/76B | €66,917 | €281 | -€66,636 | -99.6% |
| Recurring financial income | 75 | €66,917 | €281 | -€66,636 | -99.6% |
| Financial charges | 65/66B | €11,811 | €952 | -€10,859 | -91.9% |
| Recurring financial charges | 65 | €11,811 | €952 | -€10,859 | -91.9% |
| Profit (loss) for the period before taxes | 9903 | -€522,597 | -€482,175 | +€40,422 | +7.7% |
| Income taxes | 67/77 | €222 | €218 | -€4 | -2.0% |
| Profit (loss) for the period | 9904 | -€522,820 | -€482,393 | +€40,427 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€522,820 | -€482,393 | +€40,427 | +7.7% |
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 30 October 2026 via checked.be.