GESFICO: what changed
What changed
GESFICO
NACE 69.201, Certified accountants and tax accountants
filed annual accounts (NBB)
Net result for the year
€13,494
2024 · €14,528-€1,034
Equity
€286,683
2024 · €273,189+€13,494
Cash
€11,327
2024 · €10,279+€1,049
Balance sheet total
€729,101
2024 · €698,564+€30,537
Largest movements
Assets
- Tangible fixed assets +€18,840
up €18,840 (+5.1%), from €366,605 to €385,444
of which Furniture and vehicles: +€35,070
Equity and liabilities
- Trade debts +€45,563
up €45,563 (+67.4%), from €67,591 to €113,154
- Other debts -€30,000
down €30,000 (-76.7%), from €39,122 to €9,122
- Reserves +€13,651
up €13,651 (+5.4%), from €254,417 to €268,068
of which Distributable reserves: +€20,800
- Current portion of long-term debt +€8,281
up €8,281 (+30.0%), from €27,649 to €35,930
Income statement
- Gross operating margin +€33,351
up €33,351 (+62.7%), from €53,219 to €86,570
- Staff costs +€18,767
new in 2025: €18,767
- Other operating charges +€12,409
up €12,409 (+436%), from €2,843 to €15,252
- Depreciation +€6,690
up €6,690 (+39.9%), from €16,758 to €23,448
- Write-downs -€2,062
down €2,062 (-43.2%), from -€4,770 to -€6,832
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€14,528
Gross operating margin
+€33,351
Staff costs
-€18,767
Depreciation
-€6,690
Write-downs
+€2,062
Other operating charges
-€12,409
Financial income
+€70
Financial charges
-€466
Taxes
+€1,816
Result 2025
€13,494
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€35,096
Investment
-€42,288
Financing
+€8,240
Cash 2024
€10,279
From operations (derived)
+€35,096
Net result for the year
+€13,494
Depreciation
+€23,448
Receivables within one year
-€6,403
Deferred charges and accrued income
-€4,246
Provisions
-€2,383
Trade debts
+€45,563
Tax, wage and social debts
-€4,316
Other debts
-€30,000
Accrued charges and deferred income
-€61
Investment (derived)
-€42,288
Investment in fixed assets (net)
-€42,288
Financing
+€8,240
Debts after one year
-€41
Current portion of long-term debt
+€8,281
Cash 2025
€11,327
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €698,564 | €729,101 | +€30,537 | +4.4% |
| Fixed assets | 21/28 | €366,915 | €385,754 | +€18,840 | +5.1% |
| Tangible fixed assets | 22/27 | €366,605 | €385,444 | +€18,840 | +5.1% |
| Land and buildings | 22 | €362,048 | €346,596 | -€15,451 | -4.3% |
| Furniture and vehicles | 24 | €1,849 | €36,919 | +€35,070 | +1,896% |
| Other tangible fixed assets | 26 | €2,708 | €1,929 | -€779 | -28.8% |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €331,650 | €343,347 | +€11,697 | +3.5% |
| Amounts receivable within one year | 40/41 | €320,257 | €326,660 | +€6,403 | +2.0% |
| Trade receivables | 40 | €128,850 | €137,154 | +€8,303 | +6.4% |
| Other amounts receivable | 41 | €191,407 | €189,506 | -€1,900 | -1.0% |
| Cash at bank and in hand | 54/58 | €10,279 | €11,327 | +€1,049 | +10.2% |
| Deferred charges and accrued income | 490/1 | €1,114 | €5,360 | +€4,246 | +381% |
| Total equity and liabilities | 10/49 | €698,564 | €729,101 | +€30,537 | +4.4% |
| Equity | 10/15 | €273,189 | €286,683 | +€13,494 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,417 | €268,068 | +€13,651 | +5.4% |
| Tax-exempt reserves | 132 | €134,917 | €127,768 | -€7,149 | -5.3% |
| Distributable reserves | 133 | €119,500 | €140,300 | +€20,800 | +17.4% |
| Profit (loss) carried forward | 14 | €172 | €15 | -€157 | -91.2% |
| Provisions and deferred taxes | 16 | €44,972 | €42,589 | -€2,383 | -5.3% |
| Deferred taxes | 168 | €44,972 | €42,589 | -€2,383 | -5.3% |
| Amounts payable | 17/49 | €380,403 | €399,829 | +€19,426 | +5.1% |
| Amounts payable after more than one year | 17 | €235,890 | €235,849 | -€41 | 0.0% |
| Financial debts | 170/4 | €235,890 | €235,849 | -€41 | 0.0% |
| Amounts payable within one year | 42/48 | €143,701 | €163,228 | +€19,528 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €27,649 | €35,930 | +€8,281 | +30.0% |
| Trade debts | 44 | €67,591 | €113,154 | +€45,563 | +67.4% |
| Suppliers | 440/4 | €67,591 | €113,154 | +€45,563 | +67.4% |
| Taxes, remuneration and social security | 45 | €9,340 | €5,023 | -€4,316 | -46.2% |
| Taxes | 450/3 | €9,340 | €5,023 | -€4,316 | -46.2% |
| Other amounts payable | 47/48 | €39,122 | €9,122 | -€30,000 | -76.7% |
| Accrued charges and deferred income | 492/3 | €812 | €751 | -€61 | -7.5% |
| Remuneration, social security and pensions | 62 | - | €18,767 | +€18,767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,758 | €23,448 | +€6,690 | +39.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,770 | -€6,832 | -€2,062 | -43.2% |
| Other operating charges | 640/8 | €2,843 | €15,252 | +€12,409 | +436% |
| Gross operating margin | 9900 | €53,219 | €86,570 | +€33,351 | +62.7% |
| Operating profit (loss) | 9901 | €38,388 | €35,934 | -€2,454 | -6.4% |
| Financial income | 75/76B | €104 | €173 | +€70 | +67.3% |
| Recurring financial income | 75 | €104 | €173 | +€70 | +67.3% |
| Financial charges | 65/66B | €10,309 | €10,775 | +€466 | +4.5% |
| Recurring financial charges | 65 | €10,309 | €10,775 | +€466 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €28,183 | €25,333 | -€2,850 | -10.1% |
| Transfer from deferred taxes | 780 | €2,383 | €2,383 | +€0 | 0.0% |
| Income taxes | 67/77 | €16,038 | €14,222 | -€1,816 | -11.3% |
| Profit (loss) for the period | 9904 | €14,528 | €13,494 | -€1,034 | -7.1% |
| Transfer from tax-exempt reserves | 789 | €7,148 | €7,149 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,676 | €20,643 | -€1,033 | -4.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.