GEWA: 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.
GEWA
Largest movements
- Tangible fixed assets -€31,702
down €31,702 (-4.3%), from €738,450 to €706,748
- Debts after one year -€15,929
down €15,929 (-9.0%), from €176,787 to €160,857
- Reserves -€12,334
down €12,334 (-9.4%), from €130,520 to €118,187
of which Tax-exempt reserves: -€12,334
- Profit (loss) carried forward +€9,653
up €9,653 (+13.2%), from €73,378 to €83,031
- Other debts -€7,759
down €7,759 (-3.7%), from €211,218 to €203,459
- Gross operating margin -€5,592
down €5,592 (-13.0%), from €42,983 to €37,391
- Taxes -€1,265
down €1,265 (-28.2%), from €4,483 to €3,218
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 | €747,454 | €716,405 | -€31,049 | -4.2% |
| Fixed assets | 21/28 | €738,450 | €706,748 | -€31,702 | -4.3% |
| Tangible fixed assets | 22/27 | €738,450 | €706,748 | -€31,702 | -4.3% |
| Land and buildings | 22 | €738,450 | €706,748 | -€31,702 | -4.3% |
| Current assets | 29/58 | €9,004 | €9,657 | +€653 | +7.3% |
| Amounts receivable within one year | 40/41 | - | €1,532 | +€1,532 | |
| Other amounts receivable | 41 | - | €1,532 | +€1,532 | |
| Cash at bank and in hand | 54/58 | €9,004 | €8,124 | -€879 | -9.8% |
| Total equity and liabilities | 10/49 | €747,454 | €716,405 | -€31,049 | -4.2% |
| Equity | 10/15 | €265,898 | €263,217 | -€2,681 | -1.0% |
| 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 | €130,520 | €118,187 | -€12,334 | -9.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €124,320 | €111,987 | -€12,334 | -9.9% |
| Profit (loss) carried forward | 14 | €73,378 | €83,031 | +€9,653 | +13.2% |
| Provisions and deferred taxes | 16 | €75,797 | €71,686 | -€4,111 | -5.4% |
| Deferred taxes | 168 | €75,797 | €71,686 | -€4,111 | -5.4% |
| Amounts payable | 17/49 | €405,758 | €381,501 | -€24,257 | -6.0% |
| Amounts payable after more than one year | 17 | €176,787 | €160,857 | -€15,929 | -9.0% |
| Financial debts | 170/4 | €176,787 | €160,857 | -€15,929 | -9.0% |
| Amounts payable within one year | 42/48 | €227,891 | €219,388 | -€8,503 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €15,691 | €15,929 | +€239 | +1.5% |
| Taxes, remuneration and social security | 45 | €983 | - | -€983 | |
| Taxes | 450/3 | €983 | - | -€983 | |
| Other amounts payable | 47/48 | €211,218 | €203,459 | -€7,759 | -3.7% |
| Accrued charges and deferred income | 492/3 | €1,080 | €1,255 | +€175 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,702 | €31,702 | = | 0.0% |
| Other operating charges | 640/8 | €6,223 | €6,419 | +€196 | +3.2% |
| Gross operating margin | 9900 | €42,983 | €37,391 | -€5,592 | -13.0% |
| Operating profit (loss) | 9901 | €5,058 | -€730 | -€5,788 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -96.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -96.3% |
| Financial charges | 65/66B | €3,086 | €2,844 | -€242 | -7.8% |
| Recurring financial charges | 65 | €3,086 | €2,844 | -€242 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €1,972 | -€3,574 | -€5,547 | |
| Transfer from deferred taxes | 780 | €4,255 | €4,111 | -€144 | -3.4% |
| Income taxes | 67/77 | €4,483 | €3,218 | -€1,265 | -28.2% |
| Profit (loss) for the period | 9904 | €1,744 | -€2,681 | -€4,425 | |
| Transfer from tax-exempt reserves | 789 | €12,764 | €12,334 | -€431 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,508 | €9,653 | -€4,856 | -33.5% |
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 29 September 2026 via checked.be.