GEVAN: 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.
GEVAN
Largest movements
- Receivables within one year +€9.6m
up €9.6m (+9154.5%), from €105,380 to €9.8m
of which Other amounts receivable: +€9.7m
- Tangible fixed assets +€8.5m
up €8.5m (+489.1%), from €1.7m to €10.2m
of which Leasing and similar rights: +€10.0m
- Debts after one year +€10.0m
up €10.0m (+7738.9%), from €128,572 to €10.1m
- Accrued charges and deferred income +€8.5m
up €8.5m (+32884.7%), from €25,834 to €8.5m
- Other debts -€405,152
down €405,152 (-51.4%), from €788,235 to €383,083
- Gross operating margin +€1.0m
up €1.0m (+779.9%), from €132,725 to €1.2m
- Depreciation +€576,367
up €576,367 (+1655.8%), from €34,809 to €611,176
- Financial charges +€50,384
up €50,384 (+164.9%), from €30,550 to €80,934
- Other operating charges +€35,588
up €35,588 (+111.8%), from €31,830 to €67,418
- Financial income +€18,844
up €18,844 (+10755.3%), from €175 to €19,020
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,897,393 | €19,976,200 | +€18.1m | +952.8% |
| Fixed assets | 21/28 | €1,729,360 | €10,187,563 | +€8.5m | +489.1% |
| Tangible fixed assets | 22/27 | €1,729,360 | €10,187,563 | +€8.5m | +489.1% |
| Land and buildings | 22 | €1,725,610 | €187,563 | -€1.5m | -89.1% |
| Plant, machinery and equipment | 23 | €3,750 | €0 | -€3,750 | -100.0% |
| Leasing and similar rights | 25 | - | €10,000,000 | +€10.0m | |
| Current assets | 29/58 | €168,033 | €9,788,637 | +€9.6m | +5725.4% |
| Amounts receivable within one year | 40/41 | €105,380 | €9,752,422 | +€9.6m | +9154.5% |
| Trade receivables | 40 | €100,380 | €83,242 | -€17,138 | -17.1% |
| Other amounts receivable | 41 | €5,000 | €9,669,180 | +€9.7m | +193283.6% |
| Cash at bank and in hand | 54/58 | €62,653 | €16,202 | -€46,451 | -74.1% |
| Deferred charges and accrued income | 490/1 | €0 | €20,013 | +€20,013 | |
| Total equity and liabilities | 10/49 | €1,897,393 | €19,976,200 | +€18.1m | +952.8% |
| Equity | 10/15 | €925,178 | €957,939 | +€32,761 | +3.5% |
| Contributions | 10/11 | €541,057 | €541,057 | = | 0.0% |
| Capital | 10 | €541,057 | €541,057 | = | 0.0% |
| Issued capital | 100 | €541,057 | €541,057 | = | 0.0% |
| Reserves | 13 | €384,121 | €416,882 | +€32,761 | +8.5% |
| Non-distributable reserves | 130/1 | €34,320 | €54,353 | +€20,033 | +58.4% |
| Legal reserve | 130 | €34,072 | €54,106 | +€20,033 | +58.8% |
| Other | 1319 | €248 | €248 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,034 | €13,034 | = | 0.0% |
| Distributable reserves | 133 | €336,767 | €349,494 | +€12,728 | +3.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €972,215 | €19,018,261 | +€18.0m | +1856.2% |
| Amounts payable after more than one year | 17 | €128,572 | €10,078,572 | +€10.0m | +7738.9% |
| Financial debts | 170/4 | €128,572 | €10,078,572 | +€10.0m | +7738.9% |
| Amounts payable within one year | 42/48 | €817,810 | €418,451 | -€399,358 | -48.8% |
| Current portion of amounts payable after more than one year | 42 | €28,571 | €28,571 | = | 0.0% |
| Trade debts | 44 | €873 | €350 | -€523 | -59.9% |
| Suppliers | 440/4 | €873 | €350 | -€523 | -59.9% |
| Taxes, remuneration and social security | 45 | €130 | €6,447 | +€6,317 | +4864.3% |
| Taxes | 450/3 | €130 | €6,447 | +€6,317 | +4864.3% |
| Other amounts payable | 47/48 | €788,235 | €383,083 | -€405,152 | -51.4% |
| Accrued charges and deferred income | 492/3 | €25,834 | €8,521,238 | +€8.5m | +32884.7% |
| Non-recurring operating income | 76A | €30,000 | €0 | -€30,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,809 | €611,176 | +€576,367 | +1655.8% |
| Other operating charges | 640/8 | €31,830 | €67,418 | +€35,588 | +111.8% |
| Gross operating margin | 9900 | €132,725 | €1,167,800 | +€1.0m | +779.9% |
| Operating profit (loss) | 9901 | €66,086 | €489,206 | +€423,120 | +640.3% |
| Financial income | 75/76B | €175 | €19,020 | +€18,844 | +10755.3% |
| Recurring financial income | 75 | €175 | €19,020 | +€18,844 | +10755.3% |
| Financial charges | 65/66B | €30,550 | €80,934 | +€50,384 | +164.9% |
| Recurring financial charges | 65 | €30,550 | €80,934 | +€50,384 | +164.9% |
| Profit (loss) for the period before taxes | 9903 | €35,711 | €427,291 | +€391,580 | +1096.5% |
| Income taxes | 67/77 | €5,130 | €11,447 | +€6,317 | +123.1% |
| Profit (loss) for the period | 9904 | €30,581 | €415,845 | +€385,263 | +1259.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,581 | €415,845 | +€385,263 | +1259.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.