GEVACOM: what changed
Two fiscal 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.
GEVACOM
Largest movements
- Tangible fixed assets -€65,900
down €65,900 (-25.1%), from €263,008 to €197,108
of which Land and buildings: -€37,946
- Cash -€15,532
down €15,532 (-61.0%), from €25,448 to €9,916
mainly Net result for the year (-€55,333) and Receivables within one year (-€8,693)
- Receivables within one year +€8,693
up €8,693 (+7.9%), from €109,667 to €118,360
of which Other amounts receivable: +€10,940
- Profit (loss) carried forward -€55,333
down €55,333 (-22.3%), from -€248,010 to -€303,343
- Financial charges -€16,433
down €16,433 (-99.4%), from €16,533 to €99
- Depreciation -€5,262
down €5,262 (-7.4%), from €71,161 to €65,900
- Gross operating margin +€1,181
up €1,181 (+7.6%), from €15,495 to €16,677
- Other operating charges -€385
down €385 (-5.8%), from €6,637 to €6,252
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 | €703,200 | €631,172 | -€72,028 | -10.2% |
| Fixed assets | 21/28 | €565,858 | €499,958 | -€65,900 | -11.6% |
| Tangible fixed assets | 22/27 | €263,008 | €197,108 | -€65,900 | -25.1% |
| Land and buildings | 22 | €167,116 | €129,169 | -€37,946 | -22.7% |
| Furniture and vehicles | 24 | €95,892 | €67,939 | -€27,953 | -29.2% |
| Financial fixed assets | 28 | €302,850 | €302,850 | = | 0.0% |
| Current assets | 29/58 | €137,342 | €131,214 | -€6,129 | -4.5% |
| Amounts receivable within one year | 40/41 | €109,667 | €118,360 | +€8,693 | +7.9% |
| Trade receivables | 40 | €30,197 | €27,950 | -€2,247 | -7.4% |
| Other amounts receivable | 41 | €79,470 | €90,410 | +€10,940 | +13.8% |
| Cash at bank and in hand | 54/58 | €25,448 | €9,916 | -€15,532 | -61.0% |
| Deferred charges and accrued income | 490/1 | €2,227 | €2,938 | +€711 | +31.9% |
| Total equity and liabilities | 10/49 | €703,200 | €631,172 | -€72,028 | -10.2% |
| Equity | 10/15 | €476,835 | €421,502 | -€55,333 | -11.6% |
| Contributions | 10/11 | €530,987 | €530,987 | = | 0.0% |
| Capital | 10 | €530,987 | €530,987 | = | 0.0% |
| Issued capital | 100 | €530,987 | €530,987 | = | 0.0% |
| Reserves | 13 | €193,859 | €193,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,094 | €28,094 | = | 0.0% |
| Legal reserve | 130 | €28,094 | €28,094 | = | 0.0% |
| Distributable reserves | 133 | €165,765 | €165,765 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€248,010 | -€303,343 | -€55,333 | -22.3% |
| Amounts payable | 17/49 | €226,365 | €209,670 | -€16,695 | -7.4% |
| Amounts payable within one year | 42/48 | €226,365 | €209,670 | -€16,695 | -7.4% |
| Trade debts | 44 | €7,279 | €1,424 | -€5,855 | -80.4% |
| Suppliers | 440/4 | €7,279 | €1,424 | -€5,855 | -80.4% |
| Taxes, remuneration and social security | 45 | €10,840 | €3,859 | -€6,981 | -64.4% |
| Taxes | 450/3 | €10,840 | €3,859 | -€6,981 | -64.4% |
| Other amounts payable | 47/48 | €208,246 | €204,387 | -€3,859 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,161 | €65,900 | -€5,262 | -7.4% |
| Other operating charges | 640/8 | €6,637 | €6,252 | -€385 | -5.8% |
| Gross operating margin | 9900 | €15,495 | €16,677 | +€1,181 | +7.6% |
| Operating profit (loss) | 9901 | -€62,303 | -€55,475 | +€6,828 | +11.0% |
| Financial income | 75/76B | €1,473 | €1,596 | +€123 | +8.4% |
| Recurring financial income | 75 | €1,473 | €1,596 | +€123 | +8.4% |
| Financial charges | 65/66B | €16,533 | €99 | -€16,433 | -99.4% |
| Recurring financial charges | 65 | €16,533 | €99 | -€16,433 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | -€77,363 | -€53,979 | +€23,384 | +30.2% |
| Income taxes | 67/77 | €1,419 | €1,355 | -€64 | -4.5% |
| Profit (loss) for the period | 9904 | -€78,782 | -€55,333 | +€23,449 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,782 | -€55,333 | +€23,449 | +29.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.