GESTBEL: 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.
GESTBEL
Largest movements
- Cash -€129,535
down €129,535 (-74.4%), from €174,016 to €44,481
mainly Other debts (-€140,000) and Receivables within one year (-€16,867)
- Receivables within one year +€16,867
up €16,867 (+19.5%), from €86,458 to €103,325
- Deferred charges and accrued income +€4,830
up €4,830 (+82.0%), from €5,892 to €10,722
- Other debts -€140,000
down €140,000 (-100%), from €140,000 to €0
- Profit (loss) carried forward +€40,178
up €40,178 (+126%), from €31,901 to €72,079
- Trade debts -€12,129
down €12,129 (-17.0%), from €71,526 to €59,396
- Tax, wage and social debts +€3,888
up €3,888 (+116%), from €3,362 to €7,250
- Gross operating margin +€5,753
up €5,753 (+9.5%), from €60,319 to €66,071
- Other operating charges +€4,379
up €4,379 (+61.5%), from €7,120 to €11,499
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.
Derived cash bridge
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 | €266,366 | €158,528 | -€107,838 | -40.5% |
| Current assets | 29/58 | €266,366 | €158,528 | -€107,838 | -40.5% |
| Amounts receivable within one year | 40/41 | €86,458 | €103,325 | +€16,867 | +19.5% |
| Trade receivables | 40 | €86,458 | €103,325 | +€16,867 | +19.5% |
| Cash at bank and in hand | 54/58 | €174,016 | €44,481 | -€129,535 | -74.4% |
| Deferred charges and accrued income | 490/1 | €5,892 | €10,722 | +€4,830 | +82.0% |
| Total equity and liabilities | 10/49 | €266,366 | €158,528 | -€107,838 | -40.5% |
| Equity | 10/15 | €41,001 | €81,179 | +€40,178 | +98.0% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €2,100 | €2,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,901 | €72,079 | +€40,178 | +126% |
| Amounts payable | 17/49 | €225,365 | €77,349 | -€148,016 | -65.7% |
| Amounts payable within one year | 42/48 | €214,887 | €66,646 | -€148,241 | -69.0% |
| Trade debts | 44 | €71,526 | €59,396 | -€12,129 | -17.0% |
| Suppliers | 440/4 | €71,526 | €59,396 | -€12,129 | -17.0% |
| Taxes, remuneration and social security | 45 | €3,362 | €7,250 | +€3,888 | +116% |
| Taxes | 450/3 | €3,362 | €7,250 | +€3,888 | +116% |
| Other amounts payable | 47/48 | €140,000 | €0 | -€140,000 | -100% |
| Accrued charges and deferred income | 492/3 | €10,478 | €10,703 | +€226 | +2.2% |
| Other operating charges | 640/8 | €7,120 | €11,499 | +€4,379 | +61.5% |
| Gross operating margin | 9900 | €60,319 | €66,071 | +€5,753 | +9.5% |
| Operating profit (loss) | 9901 | €53,199 | €54,573 | +€1,374 | +2.6% |
| Financial charges | 65/66B | €495 | €507 | +€12 | +2.5% |
| Recurring financial charges | 65 | €495 | €507 | +€12 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €52,704 | €54,065 | +€1,361 | +2.6% |
| Income taxes | 67/77 | €13,410 | €13,888 | +€478 | +3.6% |
| Profit (loss) for the period | 9904 | €39,294 | €40,178 | +€883 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,294 | €40,178 | +€883 | +2.2% |
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 26 October 2026 via checked.be.