GEVICO: 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.
GEVICO
Largest movements
- Receivables within one year -€174,382
down €174,382 (-98.1%), from €177,768 to €3,387
- Cash -€15,587
down €15,587 (-87.0%), from €17,921 to €2,334
mainly Contributions, distributions and other (-€246,126) and Investment in fixed assets (net) (-€15,667)
- Reserves -€235,286
down €235,286 (-87.9%), from €267,578 to €32,292
of which Distributable reserves: -€235,828
- Other debts +€68,327
up €68,327 (+91.8%), from €74,436 to €142,763
- Gross operating margin -€13,364
down €13,364 (-22.7%), from €58,890 to €45,526
- Taxes -€3,212
down €3,212 (-47.1%), from €6,826 to €3,613
- Other operating charges -€1,202
down €1,202 (-8.3%), from €14,452 to €13,249
- Depreciation +€1,181
up €1,181 (+11.0%), from €10,756 to €11,936
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 | €1,249,534 | €1,067,016 | -€182,518 | -14.6% |
| Fixed assets | 21/28 | €1,050,001 | €1,053,731 | +€3,731 | +0.4% |
| Tangible fixed assets | 22/27 | €1,050,001 | €1,053,731 | +€3,731 | +0.4% |
| Land and buildings | 22 | €1,050,001 | €1,053,731 | +€3,731 | +0.4% |
| Current assets | 29/58 | €199,533 | €13,284 | -€186,249 | -93.3% |
| Amounts receivable within one year | 40/41 | €177,768 | €3,387 | -€174,382 | -98.1% |
| Other amounts receivable | 41 | €177,768 | €3,387 | -€174,382 | -98.1% |
| Cash at bank and in hand | 54/58 | €17,921 | €2,334 | -€15,587 | -87.0% |
| Deferred charges and accrued income | 490/1 | €3,844 | €7,564 | +€3,720 | +96.8% |
| Total equity and liabilities | 10/49 | €1,249,534 | €1,067,016 | -€182,518 | -14.6% |
| Equity | 10/15 | €1,142,642 | €907,356 | -€235,286 | -20.6% |
| Contributions | 10/11 | €875,064 | €875,064 | = | 0.0% |
| Capital | 10 | €875,064 | €875,064 | = | 0.0% |
| Issued capital | 100 | €875,064 | €875,064 | = | 0.0% |
| Reserves | 13 | €267,578 | €32,292 | -€235,286 | -87.9% |
| Non-distributable reserves | 130/1 | €13,379 | €13,921 | +€542 | +4.1% |
| Legal reserve | 130 | €13,379 | €13,921 | +€542 | +4.1% |
| Distributable reserves | 133 | €254,199 | €18,371 | -€235,828 | -92.8% |
| Amounts payable | 17/49 | €106,892 | €159,660 | +€52,768 | +49.4% |
| Amounts payable after more than one year | 17 | €5,586 | - | -€5,586 | |
| Financial debts | 170/4 | €5,586 | - | -€5,586 | |
| Amounts payable within one year | 42/48 | €94,565 | €152,041 | +€57,476 | +60.8% |
| Current portion of amounts payable after more than one year | 42 | €13,266 | €5,586 | -€7,680 | -57.9% |
| Trade debts | 44 | €4,499 | €3,692 | -€807 | -17.9% |
| Suppliers | 440/4 | €4,499 | €3,692 | -€807 | -17.9% |
| Taxes, remuneration and social security | 45 | €2,364 | - | -€2,364 | |
| Taxes | 450/3 | €2,364 | - | -€2,364 | |
| Other amounts payable | 47/48 | €74,436 | €142,763 | +€68,327 | +91.8% |
| Accrued charges and deferred income | 492/3 | €6,741 | €7,619 | +€878 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,756 | €11,936 | +€1,181 | +11.0% |
| Other operating charges | 640/8 | €14,452 | €13,249 | -€1,202 | -8.3% |
| Gross operating margin | 9900 | €58,890 | €45,526 | -€13,364 | -22.7% |
| Operating profit (loss) | 9901 | €33,683 | €20,341 | -€13,342 | -39.6% |
| Financial income | 75/76B | €76 | €100 | +€24 | +32.4% |
| Recurring financial income | 75 | €76 | €100 | +€24 | +32.4% |
| Financial charges | 65/66B | €6,522 | €5,987 | -€535 | -8.2% |
| Recurring financial charges | 65 | €6,522 | €5,987 | -€535 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €27,237 | €14,454 | -€12,783 | -46.9% |
| Income taxes | 67/77 | €6,826 | €3,613 | -€3,212 | -47.1% |
| Profit (loss) for the period | 9904 | €20,411 | €10,840 | -€9,571 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,411 | €10,840 | -€9,571 | -46.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.