GESVESENIOR: 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.
GESVESENIOR
Largest movements
- Receivables within one year +€224,654
up €224,654 (+38.2%), from €587,349 to €812,003
of which Trade receivables: +€131,431
- Cash -€193,879
down €193,879 (-61.6%), from €314,535 to €120,656
mainly Receivables within one year (-€224,654) and Trade debts (-€91,045)
- Tangible fixed assets -€29,078
down €29,078 (-8.9%), from €325,817 to €296,739
of which Furniture and vehicles: -€31,354
- Tax, wage and social debts +€139,248
up €139,248 (+31.3%), from €444,781 to €584,029
of which Remuneration and social security: +€166,585
- Trade debts -€91,045
down €91,045 (-30.1%), from €302,861 to €211,816
- Debts after one year -€81,068
down €81,068 (-80.2%), from €101,131 to €20,063
- Short-term financial debts +€25,332
up €25,332 (+7.3%), from €345,280 to €370,612
- Staff costs +€388,748
up €388,748 (+14.1%), from €2.7m to €3.1m
- Gross operating margin +€375,223
up €375,223 (+13.2%), from €2.8m to €3.2m
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 | €1,255,128 | €1,251,962 | -€3,166 | -0.3% |
| Fixed assets | 21/28 | €339,317 | €305,739 | -€33,578 | -9.9% |
| Intangible fixed assets | 21 | €13,500 | €9,000 | -€4,500 | -33.3% |
| Tangible fixed assets | 22/27 | €325,817 | €296,739 | -€29,078 | -8.9% |
| Plant, machinery and equipment | 23 | €90,234 | €100,017 | +€9,783 | +10.8% |
| Furniture and vehicles | 24 | €111,157 | €79,803 | -€31,354 | -28.2% |
| Other tangible fixed assets | 26 | €124,426 | €116,919 | -€7,507 | -6.0% |
| Current assets | 29/58 | €915,811 | €946,223 | +€30,412 | +3.3% |
| Stocks and contracts in progress | 3 | €12,856 | €13,564 | +€708 | +5.5% |
| Stocks | 30/36 | €12,856 | €13,564 | +€708 | +5.5% |
| Amounts receivable within one year | 40/41 | €587,349 | €812,003 | +€224,654 | +38.2% |
| Trade receivables | 40 | €458,198 | €589,629 | +€131,431 | +28.7% |
| Other amounts receivable | 41 | €129,151 | €222,374 | +€93,223 | +72.2% |
| Cash at bank and in hand | 54/58 | €314,535 | €120,656 | -€193,879 | -61.6% |
| Deferred charges and accrued income | 490/1 | €1,071 | - | -€1,071 | |
| Total equity and liabilities | 10/49 | €1,255,128 | €1,251,962 | -€3,166 | -0.3% |
| Equity | 10/15 | -€26,373 | -€22,676 | +€3,697 | +14.0% |
| Profit (loss) carried forward | 14 | -€26,373 | -€22,676 | +€3,697 | +14.0% |
| Amounts payable | 17/49 | €1,281,501 | €1,274,638 | -€6,863 | -0.5% |
| Amounts payable after more than one year | 17 | €101,131 | €20,063 | -€81,068 | -80.2% |
| Financial debts | 170/4 | €101,131 | €20,063 | -€81,068 | -80.2% |
| Amounts payable within one year | 42/48 | €1,179,060 | €1,253,265 | +€74,205 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €80,021 | €81,067 | +€1,046 | +1.3% |
| Financial debts | 43 | €345,280 | €370,612 | +€25,332 | +7.3% |
| Credit institutions | 430/8 | €345,280 | €370,612 | +€25,332 | +7.3% |
| Trade debts | 44 | €302,861 | €211,816 | -€91,045 | -30.1% |
| Suppliers | 440/4 | €302,861 | €211,816 | -€91,045 | -30.1% |
| Taxes, remuneration and social security | 45 | €444,781 | €584,029 | +€139,248 | +31.3% |
| Taxes | 450/3 | €59,343 | €32,006 | -€27,337 | -46.1% |
| Remuneration and social security | 454/9 | €385,438 | €552,023 | +€166,585 | +43.2% |
| Other amounts payable | 47/48 | €6,117 | €5,741 | -€376 | -6.1% |
| Accrued charges and deferred income | 492/3 | €1,310 | €1,310 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,748,665 | €3,137,413 | +€388,748 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,103 | €59,219 | -€15,884 | -21.1% |
| Other operating charges | 640/8 | €1,697 | €3,414 | +€1,717 | +101% |
| Gross operating margin | 9900 | €2,840,817 | €3,216,040 | +€375,223 | +13.2% |
| Operating profit (loss) | 9901 | €15,352 | €15,994 | +€642 | +4.2% |
| Financial income | 75/76B | €866 | €779 | -€87 | -10.0% |
| Recurring financial income | 75 | €866 | €779 | -€87 | -10.0% |
| Financial charges | 65/66B | €14,552 | €12,474 | -€2,078 | -14.3% |
| Recurring financial charges | 65 | €14,552 | €12,474 | -€2,078 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €1,666 | €4,299 | +€2,633 | +158% |
| Income taxes | 67/77 | €506 | €602 | +€96 | +19.0% |
| Profit (loss) for the period | 9904 | €1,160 | €3,697 | +€2,537 | +219% |
| Profit (loss) for the period to be appropriated | 9905 | €1,160 | €3,697 | +€2,537 | +219% |
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 19 October 2026 via checked.be.