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
- Tangible fixed assets -€44,046
down €44,046 (-3.8%), from €1.2m to €1.1m
of which Land and buildings: -€29,205
- Cash -€17,931
down €17,931 (-98.0%), from €18,298 to €367
mainly Debts after one year (-€74,760) and Tax, wage and social debts (-€17,150)
- Debts after one year -€74,760
down €74,760 (-16.1%), from €464,814 to €390,053
of which Financial debts: -€49,760
- Current portion of long-term debt +€26,499
up €26,499 (+23.9%), from €110,855 to €137,354
- Reserves +€21,868
up €21,868 (+4.3%), from €506,026 to €527,894
of which Distributable reserves: +€30,000
- Tax, wage and social debts -€17,150
down €17,150 (-67.0%), from €25,612 to €8,462
- Taxes -€5,820
down €5,820 (-18.9%), from €30,777 to €24,956
- Gross operating margin -€5,226
down €5,226 (-4.6%), from €114,613 to €109,387
- Financial charges -€1,525
down €1,525 (-14.6%), from €10,476 to €8,951
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 | €1,243,671 | €1,185,582 | -€58,089 | -4.7% |
| Fixed assets | 21/28 | €1,216,120 | €1,172,073 | -€44,046 | -3.6% |
| Tangible fixed assets | 22/27 | €1,165,120 | €1,121,073 | -€44,046 | -3.8% |
| Land and buildings | 22 | €1,081,389 | €1,052,184 | -€29,205 | -2.7% |
| Plant, machinery and equipment | 23 | €70,516 | €60,040 | -€10,476 | -14.9% |
| Furniture and vehicles | 24 | €13,215 | €8,850 | -€4,365 | -33.0% |
| Financial fixed assets | 28 | €51,000 | €51,000 | = | 0.0% |
| Current assets | 29/58 | €27,552 | €13,509 | -€14,043 | -51.0% |
| Amounts receivable within one year | 40/41 | €6,087 | €10,871 | +€4,783 | +78.6% |
| Trade receivables | 40 | €6,087 | €5,827 | -€260 | -4.3% |
| Other amounts receivable | 41 | - | €5,044 | +€5,044 | |
| Cash at bank and in hand | 54/58 | €18,298 | €367 | -€17,931 | -98.0% |
| Deferred charges and accrued income | 490/1 | €3,166 | €2,271 | -€895 | -28.3% |
| Total equity and liabilities | 10/49 | €1,243,671 | €1,185,582 | -€58,089 | -4.7% |
| Equity | 10/15 | €540,631 | €564,071 | +€23,441 | +4.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €506,026 | €527,894 | +€21,868 | +4.3% |
| Tax-exempt reserves | 132 | €248,526 | €240,394 | -€8,132 | -3.3% |
| Distributable reserves | 133 | €257,500 | €287,500 | +€30,000 | +11.7% |
| Profit (loss) carried forward | 14 | €9,605 | €11,178 | +€1,573 | +16.4% |
| Provisions and deferred taxes | 16 | €82,842 | €80,131 | -€2,711 | -3.3% |
| Deferred taxes | 168 | €82,842 | €80,131 | -€2,711 | -3.3% |
| Amounts payable | 17/49 | €620,199 | €541,379 | -€78,819 | -12.7% |
| Amounts payable after more than one year | 17 | €464,814 | €390,053 | -€74,760 | -16.1% |
| Financial debts | 170/4 | €289,814 | €240,053 | -€49,760 | -17.2% |
| Other amounts payable | 178/9 | €175,000 | €150,000 | -€25,000 | -14.3% |
| Amounts payable within one year | 42/48 | €149,298 | €151,326 | +€2,028 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €110,855 | €137,354 | +€26,499 | +23.9% |
| Trade debts | 44 | €12,722 | €4,645 | -€8,077 | -63.5% |
| Suppliers | 440/4 | €12,722 | €4,645 | -€8,077 | -63.5% |
| Taxes, remuneration and social security | 45 | €25,612 | €8,462 | -€17,150 | -67.0% |
| Taxes | 450/3 | €25,612 | €8,462 | -€17,150 | -67.0% |
| Other amounts payable | 47/48 | €109 | €865 | +€756 | +694.8% |
| Accrued charges and deferred income | 492/3 | €6,087 | - | -€6,087 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,279 | €44,046 | -€232 | -0.5% |
| Other operating charges | 640/8 | €3,906 | €3,795 | -€111 | -2.8% |
| Non-recurring operating charges | 66A | - | €6,909 | +€6,909 | |
| Gross operating margin | 9900 | €114,613 | €109,387 | -€5,226 | -4.6% |
| Operating profit (loss) | 9901 | €66,428 | €54,637 | -€11,792 | -17.8% |
| Financial income | 75/76B | €1 | €1 | -€0 | -22.0% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -22.0% |
| Financial charges | 65/66B | €10,476 | €8,951 | -€1,525 | -14.6% |
| Recurring financial charges | 65 | €10,476 | €8,951 | -€1,525 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €55,953 | €45,687 | -€10,267 | -18.3% |
| Transfer from deferred taxes | 780 | €2,711 | €2,711 | = | 0.0% |
| Income taxes | 67/77 | €30,777 | €24,956 | -€5,820 | -18.9% |
| Profit (loss) for the period | 9904 | €27,887 | €23,441 | -€4,446 | -15.9% |
| Transfer from tax-exempt reserves | 789 | €8,132 | €8,132 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,019 | €31,573 | -€4,446 | -12.3% |
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.