GeVe: 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.
GeVe
Largest movements
- Cash -€557,746
down €557,746 (-75.3%), from €740,595 to €182,849
mainly Current investments (-€488,009) and Receivables within one year (-€386,947)
- Current investments +€488,009
up €488,009 (+193.0%), from €252,835 to €740,844
- Receivables within one year +€386,947
up €386,947 (+400.1%), from €96,720 to €483,668
of which Trade receivables: +€416,495
- Receivables after one year -€166,252
down €166,252 (-47.8%), from €348,139 to €181,887
- Tangible fixed assets -€70,866
down €70,866 (-7.7%), from €916,227 to €845,361
of which Land and buildings: -€59,792
- Other debts +€143,549
up €143,549 (+116.9%), from €122,761 to €266,310
- Debts after one year -€52,965
down €52,965 (-12.7%), from €416,133 to €363,168
- Tax, wage and social debts +€29,678
up €29,678 (+20.2%), from €147,280 to €176,957
- Trade debts -€27,080
down €27,080 (-67.5%), from €40,136 to €13,056
- Gross operating margin +€120,859
up €120,859 (+24.6%), from €491,386 to €612,244
- Taxes +€41,320
up €41,320 (+33.9%), from €121,727 to €163,047
- Financial income +€7,378
up €7,378 (+31.9%), from €23,133 to €30,512
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 | €2,355,611 | €2,441,937 | +€86,327 | +3.7% |
| Fixed assets | 21/28 | €916,317 | €845,451 | -€70,866 | -7.7% |
| Tangible fixed assets | 22/27 | €916,227 | €845,361 | -€70,866 | -7.7% |
| Land and buildings | 22 | €796,163 | €736,372 | -€59,792 | -7.5% |
| Furniture and vehicles | 24 | €93,238 | €70,361 | -€22,877 | -24.5% |
| Other tangible fixed assets | 26 | €26,826 | €38,628 | +€11,803 | +44.0% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €1,439,294 | €1,596,486 | +€157,193 | +10.9% |
| Amounts receivable after more than one year | 29 | €348,139 | €181,887 | -€166,252 | -47.8% |
| Other amounts receivable | 291 | €348,139 | €181,887 | -€166,252 | -47.8% |
| Amounts receivable within one year | 40/41 | €96,720 | €483,668 | +€386,947 | +400.1% |
| Trade receivables | 40 | €24,200 | €440,695 | +€416,495 | +1721.1% |
| Other amounts receivable | 41 | €72,520 | €42,973 | -€29,548 | -40.7% |
| Current investments | 50/53 | €252,835 | €740,844 | +€488,009 | +193.0% |
| Cash at bank and in hand | 54/58 | €740,595 | €182,849 | -€557,746 | -75.3% |
| Deferred charges and accrued income | 490/1 | €1,004 | €7,238 | +€6,234 | +621.1% |
| Total equity and liabilities | 10/49 | €2,355,611 | €2,441,937 | +€86,327 | +3.7% |
| Equity | 10/15 | €1,629,301 | €1,622,446 | -€6,855 | -0.4% |
| Contributions | 10/11 | €256,647 | €256,647 | = | 0.0% |
| Reserves | 13 | €1,363,034 | €1,356,179 | -€6,855 | -0.5% |
| Distributable reserves | 133 | €1,363,034 | €1,356,179 | -€6,855 | -0.5% |
| Profit (loss) carried forward | 14 | €9,620 | €9,620 | = | 0.0% |
| Amounts payable | 17/49 | €726,310 | €819,492 | +€93,182 | +12.8% |
| Amounts payable after more than one year | 17 | €416,133 | €363,168 | -€52,965 | -12.7% |
| Financial debts | 170/4 | €416,133 | €363,168 | -€52,965 | -12.7% |
| Amounts payable within one year | 42/48 | €310,177 | €456,323 | +€146,147 | +47.1% |
| Trade debts | 44 | €40,136 | €13,056 | -€27,080 | -67.5% |
| Suppliers | 440/4 | €40,136 | €13,056 | -€27,080 | -67.5% |
| Taxes, remuneration and social security | 45 | €147,280 | €176,957 | +€29,678 | +20.2% |
| Taxes | 450/3 | €147,280 | €176,957 | +€29,678 | +20.2% |
| Other amounts payable | 47/48 | €122,761 | €266,310 | +€143,549 | +116.9% |
| Non-recurring operating income | 76A | €26,144 | - | -€26,144 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,416 | €90,927 | -€2,488 | -2.7% |
| Other operating charges | 640/8 | €2,712 | €3,124 | +€411 | +15.2% |
| Gross operating margin | 9900 | €491,386 | €612,244 | +€120,859 | +24.6% |
| Operating profit (loss) | 9901 | €395,258 | €518,193 | +€122,935 | +31.1% |
| Financial income | 75/76B | €23,133 | €30,512 | +€7,378 | +31.9% |
| Recurring financial income | 75 | €23,133 | €30,512 | +€7,378 | +31.9% |
| Financial charges | 65/66B | €24,965 | €19,243 | -€5,722 | -22.9% |
| Recurring financial charges | 65 | €24,965 | €19,243 | -€5,722 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €393,426 | €529,462 | +€136,036 | +34.6% |
| Income taxes | 67/77 | €121,727 | €163,047 | +€41,320 | +33.9% |
| Profit (loss) for the period | 9904 | €271,699 | €366,415 | +€94,716 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €271,699 | €366,415 | +€94,716 | +34.9% |
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.