GEVACOM: 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.
GEVACOM
Largest movements
- Tangible fixed assets +€65,178
up €65,178 (+245%), from €26,630 to €91,808
of which Furniture and vehicles: +€63,559
- Receivables within one year +€29,498
up €29,498 (+21.1%), from €139,789 to €169,286
of which Trade receivables: +€31,740
- Cash -€26,157
down €26,157 (-33.1%), from €79,122 to €52,964
mainly Investment in fixed assets (net) (-€84,590) and Accrued charges and deferred income (-€31,916)
- Stocks and contracts -€9,461
down €9,461 (-17.9%), from €52,793 to €43,331
- Debts after one year +€44,651
up €44,651 (+350%), from €12,775 to €57,426
- Reserves +€35,210
up €35,210 (+60.9%), from €57,859 to €93,069
- Accrued charges and deferred income -€31,916
down €31,916 (-94.7%), from €33,696 to €1,780
- Tax, wage and social debts +€17,700
up €17,700 (+16.8%), from €105,106 to €122,805
of which Remuneration and social security: +€11,479
- Other debts -€17,122
down €17,122 (-48.0%), from €35,692 to €18,569
- Gross operating margin +€64,257
up €64,257 (+16.7%), from €384,811 to €449,068
- Staff costs +€30,613
up €30,613 (+9.1%), from €336,258 to €366,871
- Write-downs +€13,936
up €13,936, from -€13,936 to €0
- Depreciation +€11,880
up €11,880 (+158%), from €7,527 to €19,407
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 | €312,393 | €371,840 | +€59,447 | +19.0% |
| Fixed assets | 21/28 | €31,430 | €96,613 | +€65,183 | +207% |
| Tangible fixed assets | 22/27 | €26,630 | €91,808 | +€65,178 | +245% |
| Plant, machinery and equipment | 23 | - | €1,873 | +€1,873 | |
| Furniture and vehicles | 24 | €25,491 | €89,050 | +€63,559 | +249% |
| Other tangible fixed assets | 26 | €1,139 | €885 | -€254 | -22.3% |
| Financial fixed assets | 28 | €4,800 | €4,805 | +€5 | +0.1% |
| Current assets | 29/58 | €280,963 | €275,227 | -€5,736 | -2.0% |
| Stocks and contracts in progress | 3 | €52,793 | €43,331 | -€9,461 | -17.9% |
| Stocks | 30/36 | €52,793 | €43,331 | -€9,461 | -17.9% |
| Amounts receivable within one year | 40/41 | €139,789 | €169,286 | +€29,498 | +21.1% |
| Trade receivables | 40 | €137,547 | €169,286 | +€31,740 | +23.1% |
| Other amounts receivable | 41 | €2,242 | €0 | -€2,242 | -100% |
| Cash at bank and in hand | 54/58 | €79,122 | €52,964 | -€26,157 | -33.1% |
| Deferred charges and accrued income | 490/1 | €9,260 | €9,645 | +€385 | +4.2% |
| Total equity and liabilities | 10/49 | €312,393 | €371,840 | +€59,447 | +19.0% |
| Equity | 10/15 | €77,245 | €112,455 | +€35,210 | +45.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €57,859 | €93,069 | +€35,210 | +60.9% |
| Distributable reserves | 133 | €57,859 | €93,069 | +€35,210 | +60.9% |
| Profit (loss) carried forward | 14 | €794 | €794 | = | 0.0% |
| Amounts payable | 17/49 | €235,148 | €259,385 | +€24,237 | +10.3% |
| Amounts payable after more than one year | 17 | €12,775 | €57,426 | +€44,651 | +350% |
| Financial debts | 170/4 | €12,775 | €57,426 | +€44,651 | +350% |
| Amounts payable within one year | 42/48 | €188,677 | €200,179 | +€11,502 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €7,402 | €24,131 | +€16,729 | +226% |
| Financial debts | 43 | €17,377 | €17,356 | -€21 | -0.1% |
| Credit institutions | 430/8 | €17,377 | €17,356 | -€21 | -0.1% |
| Trade debts | 44 | €23,101 | €17,317 | -€5,784 | -25.0% |
| Suppliers | 440/4 | €23,101 | €17,317 | -€5,784 | -25.0% |
| Taxes, remuneration and social security | 45 | €105,106 | €122,805 | +€17,700 | +16.8% |
| Taxes | 450/3 | €41,117 | €47,338 | +€6,220 | +15.1% |
| Remuneration and social security | 454/9 | €63,988 | €75,467 | +€11,479 | +17.9% |
| Other amounts payable | 47/48 | €35,692 | €18,569 | -€17,122 | -48.0% |
| Accrued charges and deferred income | 492/3 | €33,696 | €1,780 | -€31,916 | -94.7% |
| Non-recurring operating income | 76A | - | €50 | +€50 | |
| Remuneration, social security and pensions | 62 | €336,258 | €366,871 | +€30,613 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,527 | €19,407 | +€11,880 | +158% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,936 | €0 | +€13,936 | |
| Other operating charges | 640/8 | €2,029 | €4,734 | +€2,705 | +133% |
| Gross operating margin | 9900 | €384,811 | €449,068 | +€64,257 | +16.7% |
| Operating profit (loss) | 9901 | €52,933 | €58,056 | +€5,123 | +9.7% |
| Financial income | 75/76B | €498 | €0 | -€498 | -100.0% |
| Recurring financial income | 75 | €498 | €0 | -€498 | -100.0% |
| Financial charges | 65/66B | €5,034 | €6,518 | +€1,485 | +29.5% |
| Recurring financial charges | 65 | €5,034 | €6,518 | +€1,485 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | €48,397 | €51,538 | +€3,141 | +6.5% |
| Income taxes | 67/77 | €11,849 | €16,328 | +€4,480 | +37.8% |
| Profit (loss) for the period | 9904 | €36,549 | €35,210 | -€1,339 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,549 | €35,210 | -€1,339 | -3.7% |
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 19 October 2026 via checked.be.