GEVESEC: 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.
GEVESEC
Largest movements
- Cash +€16,614
up €16,614 (+38.9%), from €42,719 to €59,333
mainly Net result for the year (+€41,403) and Short-term financial debts (+€19,975)
- Deferred charges and accrued income -€4,669
down €4,669 (-63.3%), from €7,381 to €2,712
- Receivables within one year +€4,331
up €4,331 (+3.9%), from €111,994 to €116,326
of which Trade receivables: +€8,320
- Stocks and contracts -€3,625
down €3,625 (-41.4%), from €8,750 to €5,125
- Trade debts -€22,315
down €22,315 (-35.0%), from €63,802 to €41,487
- Reserves +€21,403
up €21,403 (+27.8%), from €77,000 to €98,403
- Short-term financial debts +€19,975
up €19,975 (+385.5%), from €5,181 to €25,156
of which Credit institutions: +€14,819
- Other debts -€12,000
down €12,000 (-100.0%), from €12,000 to €0
- Tax, wage and social debts +€4,772
up €4,772 (+30.4%), from €15,720 to €20,492
of which Remuneration and social security: +€3,347
- Gross operating margin +€9,816
up €9,816 (+5.6%), from €174,289 to €184,106
- Taxes +€2,845
up €2,845 (+19.0%), from €14,951 to €17,796
- Depreciation +€2,508
up €2,508 (+63.1%), from €3,976 to €6,484
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 | €187,477 | €199,313 | +€11,835 | +6.3% |
| Fixed assets | 21/28 | €16,633 | €15,817 | -€816 | -4.9% |
| Tangible fixed assets | 22/27 | €16,473 | €15,657 | -€816 | -5.0% |
| Furniture and vehicles | 24 | €12,561 | €8,886 | -€3,675 | -29.3% |
| Other tangible fixed assets | 26 | €3,911 | €6,771 | +€2,859 | +73.1% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €170,845 | €183,495 | +€12,651 | +7.4% |
| Stocks and contracts in progress | 3 | €8,750 | €5,125 | -€3,625 | -41.4% |
| Stocks | 30/36 | €8,750 | €5,125 | -€3,625 | -41.4% |
| Amounts receivable within one year | 40/41 | €111,994 | €116,326 | +€4,331 | +3.9% |
| Trade receivables | 40 | €53,634 | €61,953 | +€8,320 | +15.5% |
| Other amounts receivable | 41 | €58,361 | €54,372 | -€3,988 | -6.8% |
| Cash at bank and in hand | 54/58 | €42,719 | €59,333 | +€16,614 | +38.9% |
| Deferred charges and accrued income | 490/1 | €7,381 | €2,712 | -€4,669 | -63.3% |
| Total equity and liabilities | 10/49 | €187,477 | €199,313 | +€11,835 | +6.3% |
| Equity | 10/15 | €90,774 | €112,177 | +€21,403 | +23.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €77,000 | €98,403 | +€21,403 | +27.8% |
| Distributable reserves | 133 | €77,000 | €98,403 | +€21,403 | +27.8% |
| Profit (loss) carried forward | 14 | €1,374 | €1,374 | = | 0.0% |
| Amounts payable | 17/49 | €96,704 | €87,136 | -€9,568 | -9.9% |
| Amounts payable within one year | 42/48 | €96,704 | €87,136 | -€9,568 | -9.9% |
| Financial debts | 43 | €5,181 | €25,156 | +€19,975 | +385.5% |
| Credit institutions | 430/8 | €5,181 | €20,000 | +€14,819 | +286.0% |
| Other loans | 439 | - | €5,156 | +€5,156 | |
| Trade debts | 44 | €63,802 | €41,487 | -€22,315 | -35.0% |
| Suppliers | 440/4 | €63,802 | €41,487 | -€22,315 | -35.0% |
| Taxes, remuneration and social security | 45 | €15,720 | €20,492 | +€4,772 | +30.4% |
| Taxes | 450/3 | €2,345 | €3,771 | +€1,426 | +60.8% |
| Remuneration and social security | 454/9 | €13,375 | €16,721 | +€3,347 | +25.0% |
| Other amounts payable | 47/48 | €12,000 | €0 | -€12,000 | -100.0% |
| Non-recurring operating income | 76A | €41 | €1,358 | +€1,317 | +3186.6% |
| Remuneration, social security and pensions | 62 | €117,284 | €115,930 | -€1,354 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,976 | €6,484 | +€2,508 | +63.1% |
| Other operating charges | 640/8 | €2,183 | €2,419 | +€236 | +10.8% |
| Gross operating margin | 9900 | €174,289 | €184,106 | +€9,816 | +5.6% |
| Operating profit (loss) | 9901 | €50,847 | €59,273 | +€8,426 | +16.6% |
| Financial income | 75/76B | €883 | €2,493 | +€1,609 | +182.2% |
| Recurring financial income | 75 | €883 | €2,493 | +€1,609 | +182.2% |
| Financial charges | 65/66B | €2,806 | €2,566 | -€240 | -8.5% |
| Recurring financial charges | 65 | €2,806 | €2,566 | -€240 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €48,925 | €59,199 | +€10,275 | +21.0% |
| Income taxes | 67/77 | €14,951 | €17,796 | +€2,845 | +19.0% |
| Profit (loss) for the period | 9904 | €33,974 | €41,403 | +€7,430 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,974 | €41,403 | +€7,430 | +21.9% |
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 3 October 2026 via checked.be.