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
- Current investments -€400,000
down €400,000 (-100.0%), from €400,000 to €0
- Stocks and contracts +€174,644
up €174,644 (+86.0%), from €202,986 to €377,630
- Cash +€166,089
up €166,089 (+64.0%), from €259,338 to €425,427
mainly Current investments (+€400,000) and Depreciation (+€123,321)
- Tangible fixed assets +€155,688
up €155,688 (+28.3%), from €550,571 to €706,259
of which Plant, machinery and equipment: +€121,358
- Receivables within one year -€43,414
down €43,414 (-39.3%), from €110,479 to €67,065
of which Trade receivables: -€21,724
- Trade debts +€91,496
up €91,496 (+15.7%), from €584,343 to €675,839
- Other debts -€58,764
down €58,764 (-96.2%), from €61,059 to €2,295
- Accrued charges and deferred income -€20,000
down €20,000 (-50.0%), from €40,000 to €20,000
- Tax, wage and social debts +€18,300
up €18,300 (+43.7%), from €41,877 to €60,177
of which Remuneration and social security: +€16,285
- Current portion of long-term debt +€17,024
up €17,024 (+19.3%), from €88,005 to €105,028
- Gross operating margin +€67,515
up €67,515 (+13.3%), from €508,048 to €575,563
- Staff costs +€45,917
up €45,917 (+15.2%), from €302,206 to €348,122
- Taxes +€6,185
up €6,185 (+37.3%), from €16,597 to €22,781
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 | €1,528,689 | €1,581,772 | +€53,084 | +3.5% |
| Fixed assets | 21/28 | €552,571 | €709,759 | +€157,188 | +28.4% |
| Tangible fixed assets | 22/27 | €550,571 | €706,259 | +€155,688 | +28.3% |
| Land and buildings | 22 | €444,158 | €411,157 | -€33,001 | -7.4% |
| Plant, machinery and equipment | 23 | €82,754 | €204,112 | +€121,358 | +146.6% |
| Furniture and vehicles | 24 | €23,658 | €90,990 | +€67,332 | +284.6% |
| Financial fixed assets | 28 | €2,000 | €3,500 | +€1,500 | +75.0% |
| Current assets | 29/58 | €976,118 | €872,013 | -€104,105 | -10.7% |
| Stocks and contracts in progress | 3 | €202,986 | €377,630 | +€174,644 | +86.0% |
| Stocks | 30/36 | €202,986 | €377,630 | +€174,644 | +86.0% |
| Amounts receivable within one year | 40/41 | €110,479 | €67,065 | -€43,414 | -39.3% |
| Trade receivables | 40 | €50,169 | €28,445 | -€21,724 | -43.3% |
| Other amounts receivable | 41 | €60,310 | €38,620 | -€21,690 | -36.0% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €259,338 | €425,427 | +€166,089 | +64.0% |
| Deferred charges and accrued income | 490/1 | €3,314 | €1,891 | -€1,423 | -42.9% |
| Total equity and liabilities | 10/49 | €1,528,689 | €1,581,772 | +€53,084 | +3.5% |
| Equity | 10/15 | €333,409 | €331,295 | -€2,115 | -0.6% |
| Contributions | 10/11 | €18,426 | €18,426 | = | 0.0% |
| Capital | 10 | €18,426 | €18,426 | = | 0.0% |
| Issued capital | 100 | €18,426 | €18,426 | = | 0.0% |
| Reserves | 13 | €308,624 | €306,881 | -€1,743 | -0.6% |
| Non-distributable reserves | 130/1 | €1,843 | €1,843 | = | 0.0% |
| Legal reserve | 130 | €1,843 | €1,843 | = | 0.0% |
| Distributable reserves | 133 | €306,782 | €305,039 | -€1,743 | -0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €6,359 | €5,987 | -€371 | -5.8% |
| Amounts payable | 17/49 | €1,195,279 | €1,250,478 | +€55,198 | +4.6% |
| Amounts payable after more than one year | 17 | €362,991 | €370,432 | +€7,441 | +2.0% |
| Financial debts | 170/4 | €362,991 | €370,432 | +€7,441 | +2.0% |
| Amounts payable within one year | 42/48 | €792,288 | €860,045 | +€67,757 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €88,005 | €105,028 | +€17,024 | +19.3% |
| Financial debts | 43 | €17,004 | €16,706 | -€298 | -1.8% |
| Other loans | 439 | €17,004 | €16,706 | -€298 | -1.8% |
| Trade debts | 44 | €584,343 | €675,839 | +€91,496 | +15.7% |
| Suppliers | 440/4 | €584,343 | €675,839 | +€91,496 | +15.7% |
| Taxes, remuneration and social security | 45 | €41,877 | €60,177 | +€18,300 | +43.7% |
| Taxes | 450/3 | €4,050 | €6,065 | +€2,015 | +49.8% |
| Remuneration and social security | 454/9 | €37,827 | €54,113 | +€16,285 | +43.1% |
| Other amounts payable | 47/48 | €61,059 | €2,295 | -€58,764 | -96.2% |
| Accrued charges and deferred income | 492/3 | €40,000 | €20,000 | -€20,000 | -50.0% |
| Non-recurring operating income | 76A | €3,000 | €0 | -€3,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €302,206 | €348,122 | +€45,917 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,077 | €123,321 | +€4,244 | +3.6% |
| Other operating charges | 640/8 | €3,017 | €7,518 | +€4,501 | +149.2% |
| Gross operating margin | 9900 | €508,048 | €575,563 | +€67,515 | +13.3% |
| Operating profit (loss) | 9901 | €83,748 | €96,602 | +€12,853 | +15.3% |
| Financial income | 75/76B | €10,211 | €6,966 | -€3,245 | -31.8% |
| Recurring financial income | 75 | €10,211 | €6,966 | -€3,245 | -31.8% |
| Financial charges | 65/66B | €19,389 | €16,529 | -€2,860 | -14.8% |
| Recurring financial charges | 65 | €19,389 | €16,529 | -€2,860 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €74,570 | €87,038 | +€12,469 | +16.7% |
| Income taxes | 67/77 | €16,597 | €22,781 | +€6,185 | +37.3% |
| Profit (loss) for the period | 9904 | €57,973 | €64,257 | +€6,284 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,973 | €64,257 | +€6,284 | +10.8% |
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 4 October 2026 via checked.be.