GEVARU: 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.
What changed
GEVARU
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€16,392
2024 · €40,408-€56,801
Equity
€429,614
2024 · €446,007-€16,392
Cash
€1,409
2024 · €7,787-€6,377
Balance sheet total
€672,930
2024 · €695,973-€23,043
Largest movements
Assets
- Tangible fixed assets -€31,013
down €31,013 (-7.0%), from €443,648 to €412,635
of which Land and buildings: -€30,564
- Receivables within one year +€14,446
up €14,446 (+21.0%), from €68,866 to €83,312
of which Other amounts receivable: +€14,424
Equity and liabilities
- Other debts +€18,473
up €18,473 (+41.2%), from €44,789 to €63,262
- Debts after one year -€16,519
down €16,519 (-17.2%), from €95,784 to €79,265
- Profit (loss) carried forward -€10,065
new in 2025: -€10,065
Income statement
- Write-downs +€67,521
new in 2025: €67,521
- Taxes -€25,237
down €25,237 (-98.9%), from €25,518 to €281
- Gross operating margin -€19,229
down €19,229 (-17.4%), from €110,355 to €91,126
- Other operating charges -€4,728
down €4,728 (-51.3%), from €9,215 to €4,487
- Financial charges +€1,509
up €1,509 (+17.7%), from €8,507 to €10,016
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.
Result 2024
€40,408
Gross operating margin
-€19,229
Depreciation
+€315
Write-downs
-€67,521
Other operating charges
+€4,728
Financial income
+€1,179
Financial charges
-€1,509
Taxes
+€25,237
Result 2025
-€16,392
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.
From operations
+€15,508
Investment
€0
Financing
-€21,885
Cash 2024
€7,787
From operations (derived)
+€15,508
Net result for the year
-€16,392
Depreciation
+€31,013
Receivables within one year
-€14,446
Deferred charges and accrued income
+€99
Provisions
-€2,106
Trade debts
+€1,349
Tax, wage and social debts
-€2,751
Other debts
+€18,473
Accrued charges and deferred income
+€271
Financing
-€21,885
Debts after one year
-€16,519
Current portion of long-term debt
+€379
Short-term financial debts
-€5,745
Cash 2025
€1,409
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €695,973 | €672,930 | -€23,043 | -3.3% |
| Fixed assets | 21/28 | €566,268 | €535,255 | -€31,013 | -5.5% |
| Tangible fixed assets | 22/27 | €443,648 | €412,635 | -€31,013 | -7.0% |
| Land and buildings | 22 | €442,217 | €411,653 | -€30,564 | -6.9% |
| Furniture and vehicles | 24 | €1,431 | €982 | -€449 | -31.4% |
| Financial fixed assets | 28 | €122,620 | €122,620 | = | 0.0% |
| Current assets | 29/58 | €129,705 | €137,675 | +€7,970 | +6.1% |
| Amounts receivable after more than one year | 29 | €52,000 | €52,000 | = | 0.0% |
| Other amounts receivable | 291 | €52,000 | €52,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €68,866 | €83,312 | +€14,446 | +21.0% |
| Trade receivables | 40 | €25,652 | €25,674 | +€22 | +0.1% |
| Other amounts receivable | 41 | €43,214 | €57,637 | +€14,424 | +33.4% |
| Cash at bank and in hand | 54/58 | €7,787 | €1,409 | -€6,377 | -81.9% |
| Deferred charges and accrued income | 490/1 | €1,053 | €954 | -€99 | -9.4% |
| Total equity and liabilities | 10/49 | €695,973 | €672,930 | -€23,043 | -3.3% |
| Equity | 10/15 | €446,007 | €429,614 | -€16,392 | -3.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €384,007 | €377,680 | -€6,327 | -1.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €72,529 | €66,202 | -€6,327 | -8.7% |
| Distributable reserves | 133 | €305,278 | €305,278 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,065 | -€10,065 | |
| Provisions and deferred taxes | 16 | €22,038 | €19,932 | -€2,106 | -9.6% |
| Deferred taxes | 168 | €22,038 | €19,932 | -€2,106 | -9.6% |
| Amounts payable | 17/49 | €227,927 | €223,384 | -€4,544 | -2.0% |
| Amounts payable after more than one year | 17 | €95,784 | €79,265 | -€16,519 | -17.2% |
| Financial debts | 170/4 | €95,784 | €79,265 | -€16,519 | -17.2% |
| Amounts payable within one year | 42/48 | €129,984 | €141,688 | +€11,704 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €16,140 | €16,519 | +€379 | +2.3% |
| Financial debts | 43 | €30,745 | €25,000 | -€5,745 | -18.7% |
| Credit institutions | 430/8 | €30,745 | €25,000 | -€5,745 | -18.7% |
| Trade debts | 44 | €2,167 | €3,516 | +€1,349 | +62.3% |
| Suppliers | 440/4 | €2,167 | €3,516 | +€1,349 | +62.3% |
| Taxes, remuneration and social security | 45 | €36,142 | €33,391 | -€2,751 | -7.6% |
| Taxes | 450/3 | €36,142 | €33,391 | -€2,751 | -7.6% |
| Other amounts payable | 47/48 | €44,789 | €63,262 | +€18,473 | +41.2% |
| Accrued charges and deferred income | 492/3 | €2,159 | €2,430 | +€271 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,328 | €31,013 | -€315 | -1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €67,521 | +€67,521 | |
| Other operating charges | 640/8 | €9,215 | €4,487 | -€4,728 | -51.3% |
| Gross operating margin | 9900 | €110,355 | €91,126 | -€19,229 | -17.4% |
| Operating profit (loss) | 9901 | €69,813 | -€11,894 | -€81,707 | |
| Financial income | 75/76B | €2,514 | €3,693 | +€1,179 | +46.9% |
| Recurring financial income | 75 | €2,514 | €3,693 | +€1,179 | +46.9% |
| Financial charges | 65/66B | €8,507 | €10,016 | +€1,509 | +17.7% |
| Recurring financial charges | 65 | €8,507 | €10,016 | +€1,509 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €63,819 | -€18,218 | -€82,037 | |
| Transfer from deferred taxes | 780 | €2,106 | €2,106 | = | 0.0% |
| Income taxes | 67/77 | €25,518 | €281 | -€25,237 | -98.9% |
| Profit (loss) for the period | 9904 | €40,408 | -€16,392 | -€56,801 | |
| Transfer from tax-exempt reserves | 789 | €6,327 | €6,327 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,735 | -€10,065 | -€56,801 |
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 5 October 2026 via checked.be.