GEWAL: 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.
What changed
GEWAL
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€112,606
2024 · €36,124-€148,730
Equity
€627,951
2024 · €740,557-€112,606
Cash
€56,420
2024 · €80,226-€23,807
Balance sheet total
€2.5m
2024 · €2.3m+€207,959
Largest movements
Assets
- Deferred charges and accrued income +€167,526
up €167,526 (+616.6%), from €27,171 to €194,697
- Receivables within one year +€90,297
up €90,297 (+5.8%), from €1.5m to €1.6m
of which Other amounts receivable: +€181,399
Equity and liabilities
- Trade debts +€179,422
up €179,422 (+13.7%), from €1.3m to €1.5m
- Other debts +€121,573
up €121,573 (+160.4%), from €75,800 to €197,373
- Profit (loss) carried forward -€112,606
down €112,606 (-1192.4%), from -€9,443 to -€122,049
- Current portion of long-term debt +€37,334
up €37,334 (+320.7%), from €11,642 to €48,977
- Tax, wage and social debts -€31,251
down €31,251 (-25.8%), from €121,084 to €89,832
of which Remuneration and social security: -€18,856
Income statement
- Purchases and services +€179,963
up €179,963 (+2.0%), from €8.9m to €9.1m
- Turnover +€167,741
up €167,741 (+1.8%), from €9.5m to €9.7m
- Gross operating margin -€157,371
down €157,371 (-15.9%), from €991,137 to €833,766
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.
Result 2024
€36,124
Gross operating margin
-€157,371
Staff costs
+€5,699
Depreciation
-€1,112
Other operating charges
+€516
Other operating items
-€11,244
Financial income
+€12,176
Financial charges
-€14,769
Taxes
+€17,375
Result 2025
-€112,606
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.
From operations
-€31,609
Investment
-€49,518
Financing
+€57,321
Cash 2024
€80,226
From operations (derived)
-€31,609
Net result for the year
-€112,606
Depreciation
+€56,509
Stocks and contracts
+€19,067
Receivables within one year
-€90,297
Deferred charges and accrued income
-€167,526
Trade debts
+€179,422
Tax, wage and social debts
-€31,251
Other debts
+€121,573
Accrued charges and deferred income
-€6,500
Investment (derived)
-€49,518
Investment in fixed assets (net)
-€49,518
Financing
+€57,321
Debts after one year
+€19,986
Current portion of long-term debt
+€37,334
Cash 2025
€56,420
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,264,808 | €2,472,766 | +€207,959 | +9.2% |
| Fixed assets | 21/28 | €105,644 | €98,653 | -€6,991 | -6.6% |
| Tangible fixed assets | 22/27 | €105,644 | €98,653 | -€6,991 | -6.6% |
| Plant, machinery and equipment | 23 | €44,044 | €20,317 | -€23,727 | -53.9% |
| Furniture and vehicles | 24 | €13,915 | €19,695 | +€5,780 | +41.5% |
| Leasing and similar rights | 25 | €1,731 | €29,131 | +€27,400 | +1583.2% |
| Other tangible fixed assets | 26 | €45,954 | €29,510 | -€16,444 | -35.8% |
| Current assets | 29/58 | €2,159,164 | €2,374,113 | +€214,949 | +10.0% |
| Stocks and contracts in progress | 3 | €503,196 | €484,129 | -€19,067 | -3.8% |
| Stocks | 30/36 | €503,196 | €484,129 | -€19,067 | -3.8% |
| Amounts receivable within one year | 40/41 | €1,548,570 | €1,638,868 | +€90,297 | +5.8% |
| Trade receivables | 40 | €125,182 | €34,079 | -€91,102 | -72.8% |
| Other amounts receivable | 41 | €1,423,389 | €1,604,788 | +€181,399 | +12.7% |
| Cash at bank and in hand | 54/58 | €80,226 | €56,420 | -€23,807 | -29.7% |
| Deferred charges and accrued income | 490/1 | €27,171 | €194,697 | +€167,526 | +616.6% |
| Total equity and liabilities | 10/49 | €2,264,808 | €2,472,766 | +€207,959 | +9.2% |
| Equity | 10/15 | €740,557 | €627,951 | -€112,606 | -15.2% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,443 | -€122,049 | -€112,606 | -1192.4% |
| Amounts payable | 17/49 | €1,524,251 | €1,844,816 | +€320,565 | +21.0% |
| Amounts payable after more than one year | 17 | €0 | €19,986 | +€19,986 | |
| Financial debts | 170/4 | €0 | €19,986 | +€19,986 | |
| Amounts payable within one year | 42/48 | €1,517,751 | €1,824,829 | +€307,078 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €11,642 | €48,977 | +€37,334 | +320.7% |
| Trade debts | 44 | €1,309,225 | €1,488,647 | +€179,422 | +13.7% |
| Suppliers | 440/4 | €1,309,225 | €1,488,647 | +€179,422 | +13.7% |
| Taxes, remuneration and social security | 45 | €121,084 | €89,832 | -€31,251 | -25.8% |
| Taxes | 450/3 | €18,133 | €5,738 | -€12,395 | -68.4% |
| Remuneration and social security | 454/9 | €102,951 | €84,094 | -€18,856 | -18.3% |
| Other amounts payable | 47/48 | €75,800 | €197,373 | +€121,573 | +160.4% |
| Accrued charges and deferred income | 492/3 | €6,500 | €0 | -€6,500 | -100.0% |
| Turnover | 70 | €9,545,704 | €9,713,444 | +€167,741 | +1.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,908,115 | €9,088,078 | +€179,963 | +2.0% |
| Remuneration, social security and pensions | 62 | €839,906 | €834,207 | -€5,699 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,397 | €56,509 | +€1,112 | +2.0% |
| Other operating charges | 640/8 | €6,279 | €5,763 | -€516 | -8.2% |
| Non-recurring operating charges | 66A | €760 | €12,004 | +€11,244 | +1478.7% |
| Gross operating margin | 9900 | €991,137 | €833,766 | -€157,371 | -15.9% |
| Operating profit (loss) | 9901 | €88,795 | -€74,717 | -€163,512 | |
| Financial income | 75/76B | €13,993 | €26,169 | +€12,176 | +87.0% |
| Recurring financial income | 75 | €13,993 | €26,169 | +€12,176 | +87.0% |
| Financial charges | 65/66B | €49,389 | €64,158 | +€14,769 | +29.9% |
| Recurring financial charges | 65 | €49,389 | €64,158 | +€14,769 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €53,399 | -€112,706 | -€166,105 | |
| Income taxes | 67/77 | €17,275 | -€100 | -€17,375 | |
| Profit (loss) for the period | 9904 | €36,124 | -€112,606 | -€148,730 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,124 | -€112,606 | -€148,730 |
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 8 October 2026 via checked.be.