GeWi: what changed
Two financial 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.
GeWi
Largest movements
- Tangible fixed assets -€64,196
down €64,196 (-13.3%), from €483,944 to €419,748
of which Plant, machinery and equipment: -€35,257
- Cash +€29,147
up €29,147 (+13.0%), from €223,854 to €253,001
mainly Other debts (+€277,267) and Net result for the year (+€162,857)
- Receivables within one year -€15,742
down €15,742 (-9.3%), from €169,138 to €153,396
of which Trade receivables: -€9,339
- Reserves -€304,681
down €304,681 (-100.0%), from €304,681 to €0
- Other debts +€277,267
up €277,267 (+4045.2%), from €6,854 to €284,121
- Debts after one year -€48,327
down €48,327 (-12.2%), from €395,736 to €347,409
- Tax, wage and social debts +€27,080
up €27,080 (+54.3%), from €49,888 to €76,968
of which Taxes: +€30,330
- Staff costs +€13,732
up €13,732 (+4.0%), from €343,360 to €357,091
- Gross operating margin +€11,414
up €11,414 (+1.8%), from €651,467 to €662,881
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 | €978,106 | €929,217 | -€48,889 | -5.0% |
| Fixed assets | 21/28 | €484,142 | €419,748 | -€64,394 | -13.3% |
| Intangible fixed assets | 21 | €198 | €0 | -€198 | -100.0% |
| Tangible fixed assets | 22/27 | €483,944 | €419,748 | -€64,196 | -13.3% |
| Land and buildings | 22 | €352,489 | €325,330 | -€27,159 | -7.7% |
| Plant, machinery and equipment | 23 | €127,334 | €92,077 | -€35,257 | -27.7% |
| Furniture and vehicles | 24 | €4,121 | €2,341 | -€1,780 | -43.2% |
| Current assets | 29/58 | €493,965 | €509,469 | +€15,505 | +3.1% |
| Amounts receivable after more than one year | 29 | €33,000 | €27,000 | -€6,000 | -18.2% |
| Other amounts receivable | 291 | €33,000 | €27,000 | -€6,000 | -18.2% |
| Stocks and contracts in progress | 3 | €61,173 | €70,046 | +€8,873 | +14.5% |
| Stocks | 30/36 | €61,173 | €70,046 | +€8,873 | +14.5% |
| Amounts receivable within one year | 40/41 | €169,138 | €153,396 | -€15,742 | -9.3% |
| Trade receivables | 40 | €154,921 | €145,582 | -€9,339 | -6.0% |
| Other amounts receivable | 41 | €14,217 | €7,814 | -€6,403 | -45.0% |
| Cash at bank and in hand | 54/58 | €223,854 | €253,001 | +€29,147 | +13.0% |
| Deferred charges and accrued income | 490/1 | €6,800 | €6,026 | -€774 | -11.4% |
| Total equity and liabilities | 10/49 | €978,106 | €929,217 | -€48,889 | -5.0% |
| Equity | 10/15 | €424,681 | €120,000 | -€304,681 | -71.7% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €304,681 | €0 | -€304,681 | -100.0% |
| Distributable reserves | 133 | €304,681 | €0 | -€304,681 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €553,426 | €809,217 | +€255,791 | +46.2% |
| Amounts payable after more than one year | 17 | €395,736 | €347,409 | -€48,327 | -12.2% |
| Financial debts | 170/4 | €395,736 | €347,409 | -€48,327 | -12.2% |
| Amounts payable within one year | 42/48 | €157,689 | €461,808 | +€304,119 | +192.9% |
| Current portion of amounts payable after more than one year | 42 | €47,905 | €48,327 | +€422 | +0.9% |
| Trade debts | 44 | €53,043 | €52,392 | -€651 | -1.2% |
| Suppliers | 440/4 | €53,043 | €52,392 | -€651 | -1.2% |
| Taxes, remuneration and social security | 45 | €49,888 | €76,968 | +€27,080 | +54.3% |
| Taxes | 450/3 | €17,782 | €48,112 | +€30,330 | +170.6% |
| Remuneration and social security | 454/9 | €32,106 | €28,856 | -€3,250 | -10.1% |
| Other amounts payable | 47/48 | €6,854 | €284,121 | +€277,267 | +4045.2% |
| Remuneration, social security and pensions | 62 | €343,360 | €357,091 | +€13,732 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,165 | €71,239 | +€4,074 | +6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,181 | €0 | -€2,181 | -100.0% |
| Other operating charges | 640/8 | €8,262 | €6,838 | -€1,424 | -17.2% |
| Gross operating margin | 9900 | €651,467 | €662,881 | +€11,414 | +1.8% |
| Operating profit (loss) | 9901 | €230,500 | €227,714 | -€2,786 | -1.2% |
| Financial income | 75/76B | €5,357 | €4,837 | -€521 | -9.7% |
| Recurring financial income | 75 | €5,357 | €4,837 | -€521 | -9.7% |
| Financial charges | 65/66B | €19,768 | €18,676 | -€1,092 | -5.5% |
| Recurring financial charges | 65 | €19,768 | €18,676 | -€1,092 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €216,089 | €213,874 | -€2,215 | -1.0% |
| Income taxes | 67/77 | €50,186 | €51,017 | +€831 | +1.7% |
| Profit (loss) for the period | 9904 | €165,902 | €162,857 | -€3,045 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €165,902 | €162,857 | -€3,045 | -1.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.