GERO
Annual accounts 2025
abbreviated format, filed on 24-06-2026, 37 days before the deadlineTurnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance sheet
balance sheet total €610,265 on 31-12-2025in €m
in euro
Position in the sector
98.8%
Higher than 95% of 601 companies in 2025.
43.78
Higher than 95% of 591 companies in 2025.
-14.1%
Higher than 7% of 596 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
610,265 | 1.2m | 1.2m | 837,102 | 608,940 | 416,329 | 274,139 | 147,389 | 66,211 | 72,932 | 56,115 | 37,224 | 26 | 43,105 | 50,343 | 50,185 | 61,665 | 61,860 | 80,719 | |
21/28 |
282,295 | 325,041 | 64,413 | 14,538 | 28,502 | 31,745 | 64,387 | 37,471 | 6,504 | 10,842 | 17,450 | 720 | - | - | - | - | - | - | - | |
22/27 |
280,235 | 322,981 | 62,353 | 12,478 | 26,442 | 30,485 | 64,387 | 37,471 | 6,504 | 10,842 | 17,450 | 720 | - | - | - | - | - | - | - | |
22 |
267,081 | 280,581 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
23 |
1,078 | 1,488 | 700 | 1,150 | 5,489 | 11,954 | 17,305 | 7,168 | 6,504 | 3,231 | 2,230 | 720 | - | - | - | - | - | - | - | |
24 |
12,075 | 40,912 | 61,653 | 11,329 | 20,953 | 18,532 | 47,082 | 30,303 | - | 7,610 | 15,220 | - | - | - | - | - | - | - | - | |
28 |
2,060 | 2,060 | 2,060 | 2,060 | 2,060 | 1,260 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
29/58 |
327,970 | 880,630 | 1.1m | 822,564 | 580,438 | 384,584 | 209,752 | 109,918 | 59,707 | 62,091 | 38,665 | 36,504 | 26 | 43,105 | 50,343 | 50,185 | 61,665 | 61,860 | 80,719 | |
3 |
- | - | 4,751 | 5,602 | 3,112 | 2,809 | 9,996 | - | - | - | - | - | - | - | 2,470 | 2,470 | 2,470 | 2,521 | 2,555 | |
30/36 |
- | - | 4,751 | 5,602 | 3,112 | 2,809 | 9,996 | - | - | - | - | - | - | - | 2,470 | 2,470 | 2,470 | 2,521 | 2,555 | |
40/41 |
29,196 | 36,329 | 148,120 | 299,950 | 132,261 | 54,503 | 150,514 | 86,175 | 20,886 | 19,167 | 31,630 | 13,321 | - | 43,100 | 47,377 | 47,377 | 59,184 | 59,184 | 77,771 | |
40 |
24,571 | 24,540 | 148,078 | 299,950 | 132,261 | 54,503 | 137,916 | 75,892 | 20,883 | 15,616 | 26,419 | 13,297 | - | 27,698 | 31,975 | 31,975 | 31,975 | 31,975 | 50,817 | |
41 |
4,625 | 11,789 | 41 | - | - | - | 12,598 | 10,283 | 3 | 3,551 | 5,211 | 24 | - | 15,402 | 15,402 | 15,402 | 27,209 | 27,209 | 26,954 | |
54/58 |
294,959 | 839,894 | 979,601 | 510,576 | 441,074 | 323,364 | 45,695 | 23,744 | 38,821 | 42,924 | 6,694 | 22,883 | 26 | 5 | 496 | 338 | 11 | 155 | 393 | |
490/1 |
3,815 | 4,407 | 8,169 | 6,436 | 3,992 | 3,907 | 3,547 | - | - | - | 342 | 300 | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
610,265 | 1.2m | 1.2m | 837,102 | 608,940 | 416,329 | 274,139 | 147,389 | 66,211 | 72,932 | 56,115 | 37,224 | 26 | 43,105 | 50,343 | 50,185 | 61,665 | 61,860 | 80,719 | |
10/15 |
602,661 | 1.2m | 1.1m | 719,883 | 478,702 | 252,886 | 95,123 | 65,101 | 56,623 | 55,761 | 42,372 | 26,691 | -1,671 | -1,015 | 3,354 | 5,025 | 8,046 | 10,304 | 18,903 | |
10/11 |
18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | |
100 |
- | - | - | - | - | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | |
13 |
584,068 | 1.2m | 1.1m | 701,291 | 334,294 | 212,373 | 54,611 | 24,589 | 16,111 | 15,248 | 1,859 | 1,859 | 377 | 7,536 | 7,537 | 7,536 | 7,536 | 7,536 | 7,536 | |
130/1 |
- | - | 1,859 | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | 377 | 377 | 377 | 377 | 377 | 377 | 377 | |
1311 |
- | - | 1,859 | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
584,068 | 1.2m | 1.1m | 699,432 | 332,435 | 210,514 | 52,751 | 22,729 | 14,251 | 13,389 | - | - | - | 7,159 | 7,160 | 7,159 | 7,159 | 7,159 | 7,159 | |
14 |
- | - | - | - | 125,816 | 21,921 | 21,921 | 21,921 | 21,921 | 21,921 | 21,921 | 6,240 | -20,640 | -27,143 | -22,775 | -21,103 | -18,082 | -15,824 | -7,225 | |
17/49 |
7,605 | 4,431 | 130,122 | 117,219 | 130,238 | 163,443 | 179,016 | 82,288 | 9,588 | 17,171 | 13,744 | 10,533 | 1,696 | 44,120 | 46,989 | 45,160 | 53,619 | 51,556 | 61,816 | |
17 |
- | - | - | - | - | 5,821 | 25,854 | 20,166 | - | - | - | - | - | - | - | - | - | - | - | |
170/4 |
- | - | - | - | - | 5,821 | 25,854 | 20,166 | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
7,492 | 542 | 129,970 | 116,829 | 129,488 | 156,374 | 153,161 | 56,800 | 9,588 | 17,171 | 13,744 | 8,143 | 1,696 | 44,120 | 46,989 | 45,160 | 53,619 | 51,556 | 61,816 | |
42 |
- | - | - | - | 5,821 | 20,033 | 19,722 | 9,834 | - | - | - | - | - | - | - | - | - | - | - | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 19 | 19 | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 19 | 19 | - | - | - | |
44 |
828 | 95 | 44,193 | 57,108 | 16,148 | 33,375 | 79,572 | 21,379 | - | 5,682 | 169 | 532 | - | 38,232 | 43,099 | 42,041 | 45,356 | 44,343 | 51,780 | |
440/4 |
828 | 95 | 44,193 | 57,108 | 16,148 | 33,375 | 79,572 | 21,379 | - | 5,682 | 169 | 532 | - | 38,232 | 43,099 | 42,041 | 45,356 | 44,343 | 51,780 | |
45 |
544 | 202 | 80,277 | 41,197 | 103,588 | 100,440 | 26,577 | 8,718 | 6,588 | 9,239 | 7,582 | 4,537 | - | - | - | - | - | - | - | |
450/3 |
544 | 202 | 66,073 | 30,931 | 89,297 | 88,184 | 16,561 | 8,718 | 6,588 | 9,239 | 7,582 | 3,493 | - | - | - | - | - | - | - | |
454/9 |
- | - | 14,204 | 10,266 | 14,291 | 12,257 | 10,016 | - | - | - | - | 1,044 | - | - | - | - | - | - | - | |
47/48 |
6,120 | 245 | 5,500 | 18,524 | 3,931 | 2,526 | 27,290 | 16,870 | 3,000 | 2,250 | 5,992 | 3,074 | 1,696 | 5,888 | 3,871 | 3,100 | 8,263 | 7,213 | 10,036 | |
492/3 |
113 | 3,889 | 152 | 389 | 750 | 1,248 | - | 5,321 | - | - | - | 2,390 | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||||
76A |
- | 14,075 | 2,000 | - | - | - | - | - | - | - | - | - | - | 566 | - | - | - | - | 78 | |
9900 |
-47,023 | 329,605 | 587,814 | 476,564 | 417,542 | 357,859 | 138,038 | 48,374 | 13,325 | 36,426 | 33,088 | 30,742 | -631 | -1,851 | -1,059 | -1,543 | -1,625 | -2,126 | -208 | |
62 |
-3,830 | 7,008 | 63,177 | 85,255 | 77,890 | 74,352 | 32,371 | - | - | - | - | - | - | - | - | - | - | - | - | |
630 |
42,746 | 80,392 | 5,910 | 17,074 | 16,544 | 36,935 | 43,399 | 21,696 | 12,116 | 9,523 | 8,635 | 180 | - | - | - | - | - | - | - | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 2,469 | - | - | - | - | - | |
640/8 |
3,203 | 4,707 | 1,566 | 1,674 | 4,559 | 3,927 | 3,896 | 5,783 | 211 | 4,961 | 211 | 187 | - | 603 | 601 | 600 | 598 | 1,279 | 944 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 846 | - | - | - | |
9901 |
-89,142 | 237,498 | 517,162 | 372,561 | 318,549 | 242,646 | 58,372 | 20,895 | 998 | 21,942 | 24,242 | 30,375 | -631 | -4,923 | -1,660 | -2,143 | -2,223 | -3,405 | -1,152 | |
75/76B |
2,997 | 60 | 600 | 647 | 805 | 532 | 51 | 1 | 7 | 70 | 38 | 1 | - | - | - | - | - | - | - | |
75 |
2,997 | 60 | 600 | 647 | 805 | 532 | 51 | 1 | 7 | 70 | 38 | 1 | - | - | - | - | - | - | - | |
65/66B |
101 | 614 | 1,071 | 1,761 | 719 | 1,047 | 1,502 | 543 | 44 | 43 | 45 | 55 | 24 | 11 | 12 | 32 | 35 | 5,194 | 850 | |
65 |
101 | 614 | 1,071 | 1,761 | 719 | 1,047 | 1,502 | 543 | 44 | 43 | 45 | 55 | 24 | 11 | 12 | 32 | 35 | 5,194 | 850 | |
9903 |
-86,246 | 236,944 | 516,692 | 371,447 | 318,635 | 242,130 | 56,921 | 20,352 | 962 | 21,969 | 24,235 | 30,321 | -656 | -4,368 | -1,672 | -3,021 | -2,258 | -8,599 | -1,924 | |
67/77 |
- | 71,274 | 161,642 | 116,876 | 92,820 | 84,368 | 14,899 | 7,874 | 99 | 8,580 | 5,055 | 1,959 | - | - | - | - | - | - | - | |
9904 |
-86,246 | 165,670 | 355,049 | 254,571 | 225,816 | 157,763 | 42,022 | 12,478 | 862 | 13,389 | 19,181 | 28,362 | -656 | -4,368 | -1,672 | -3,021 | -2,258 | -8,599 | -1,924 | |
9905 |
-86,246 | 165,670 | 355,049 | 254,571 | 225,816 | 157,763 | 42,022 | 12,478 | 862 | 13,389 | 19,181 | 28,362 | -656 | -4,368 | -1,672 | -3,021 | -2,258 | -8,599 | -1,924 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-86,246 | 165,670 | 355,049 | 380,387 | 247,736 | 179,683 | 63,943 | 34,399 | 22,783 | 35,310 | 25,421 | 7,722 | -27,799 | -27,143 | -22,775 | -21,103 | -18,082 | -15,824 | -7,225 | |
14P |
- | - | - | 125,816 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
598,580 | 39,362 | - | 13,389 | - | - | - | - | - | - | - | - | 7,159 | - | - | - | - | - | - | |
691/2 |
- | 165,670 | 355,049 | 380,387 | 121,921 | 157,763 | 30,022 | 8,478 | 862 | 13,389 | - | 1,482 | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | 1,482 | - | - | - | - | - | - | - | |
6921 |
- | 165,670 | 355,049 | 380,387 | 121,921 | 157,763 | 30,022 | 8,478 | 862 | 13,389 | - | - | - | - | - | - | - | - | - | |
694/7 |
512,333 | 39,362 | - | 13,389 | - | - | 12,000 | 4,000 | - | - | 3,500 | - | - | - | - | - | - | - | - | |
694 |
512,333 | 39,362 | - | 13,389 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | 12,000 | 4,000 | - | - | 3,500 | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||||||||
9087 |
- | 0.2 | 1 | 1.3 | 1.3 | 1 | 0.5 | - | - | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
- | - | 1,371 | 2,150 | 2,068 | 1,818 | 940 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||||
The accounts for 14 older financial years (1993-2006) were filed as documents without figures as data, scans for example.
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-06-2026 | 2026-00200402 | |
| 31-12-2024 | abbreviated format | 21-08-2025 | 2025-00407227 | |
| 30-06-2023 | abbreviated format | 30-01-2024 | 2024-00013125 | |
| 30-06-2022 | abbreviated format | 25-01-2023 | 2023-00006685 | |
| 30-06-2021 | micro format | 22-11-2021 | 2021-78000233 | |
| 30-06-2020 | micro format | 26-01-2021 | 2021-01700522 | |
| 30-06-2019 | micro format | 13-12-2019 | 2019-76100365 | |
| 30-06-2018 | micro format | 20-12-2018 | 2018-75400438 | |
| 30-06-2017 | micro format | 15-12-2017 | 2017-72300049 | |
| 30-06-2016 | abbreviated format | 09-12-2016 | 2016-69600360 | |
| 30-06-2015 | abbreviated format | 27-11-2015 | 2015-67700247 | |
| 30-06-2014 | abbreviated format | 08-12-2014 | 2014-68600099 | |
| 30-06-2013 | abbreviated format | 10-12-2013 | 2013-68100368 | |
| 30-06-2012 | abbreviated format | 19-11-2012 | 2012-64100369 | |
| 30-06-2011 | abbreviated format | 25-01-2012 | 2012-01600128 | |
| 30-06-2010 | abbreviated format | 24-11-2010 | 2010-61300572 | |
| 30-06-2009 | abbreviated format | 01-12-2009 | 2009-87200351 | |
| 30-06-2008 | abbreviated format | 15-12-2008 | 2008-85200024 | |
| 30-06-2007 | abbreviated format | 09-11-2007 | 2007-79900338 | |
| 30-06-2006 | abbreviated format | 21-11-2006 | 2006-87802895 | |
| 30-06-2005 | abbreviated format | 22-11-2005 | 2005-86702798 | |
| 30-06-2004 | abbreviated format | 09-11-2004 | 2004-78600166 | |
| 30-06-2003 | abbreviated format | 12-11-2003 | 2003-79100270 | |
| 30-06-2002 | abbreviated format | 26-11-2002 | 2002-74000220 | |
| 30-06-2001 | abbreviated format | 29-11-2001 | 2001-72801570 | |
| 30-06-2000 | abbreviated format | 17-11-2000 | 2000-72003146 | |
| 30-06-1999 | abbreviated format | 19-11-1999 | 1999-59502880 | |
| 30-06-1998 | abbreviated format | 04-12-1998 | 1998-60303697 | |
| 30-06-1997 | abbreviated format | 27-11-1997 | 1997-54700482 | |
| 30-06-1996 | abbreviated format | 28-11-1996 | 1996-52003246 | |
| 30-06-1995 | abbreviated format | 01-12-1995 | 1995-58800226 | |
| 30-06-1994 | abbreviated format | 24-11-1994 | 1994-48101276 | |
| 30-06-1993 | abbreviated format | 23-11-1993 | 1993-43604763 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -46,396 | 317,890 | 523,072 | 389,635 | 335,093 | 279,581 | 101,771 | 42,591 | 13,115 | 31,465 | 32,877 | 30,555 | - | - | - | - | - | - | - | ||
| -43,501 | 246,062 | 360,959 | 271,645 | 242,360 | 194,697 | 85,421 | 34,174 | 12,979 | 22,912 | 27,816 | 28,542 | - | - | - | - | - | - | - | ||
| 0 | 341,019 | 55,785 | 3,111 | 13,300 | 4,293 | 70,316 | 52,662 | 7,779 | 7,665 | 25,365 | 900 | - | - | - | - | - | - | - | ||
| -544,935 | -139,707 | 469,025 | 69,502 | 117,709 | 277,669 | 21,952 | -15,078 | -4,102 | 36,230 | -16,189 | 22,857 | 21 | -491 | 158 | 327 | -144 | -238 | - | ||
| 320,478 | 880,089 | 1.0m | 705,734 | 450,950 | 228,209 | 56,590 | 53,118 | 50,119 | 44,919 | 24,922 | 28,361 | -1,671 | -1,015 | 3,354 | 5,025 | 8,046 | 10,304 | 18,903 | ||
| 98.8% | 99.6% | 89.2% | 86.0% | 78.6% | 60.7% | 34.7% | 44.2% | 85.5% | 76.5% | 75.5% | 71.7% | - | -2.4% | 6.7% | 10.0% | 13.0% | 16.7% | 23.4% | ||
| 43.78 | - | 8.78 | 7.04 | 4.48 | 2.46 | 1.37 | 1.94 | 6.23 | 3.62 | 2.81 | 4.48 | - | 0.98 | 1.07 | 1.11 | 1.15 | 1.20 | 1.31 | ||
| 43.78 | - | 8.74 | 6.99 | 4.46 | 2.44 | 1.30 | 1.94 | 6.23 | 3.62 | 2.81 | 4.48 | - | 0.98 | 1.02 | 1.06 | 1.10 | 1.15 | 1.26 | ||
| 0.01 | 0.00 | 0.12 | 0.16 | 0.27 | 0.65 | 1.88 | 1.26 | 0.17 | 0.31 | 0.32 | 0.39 | - | - | 14.01 | 8.99 | 6.66 | 5.00 | 3.27 | ||
| -14.3% | 13.8% | 33.0% | 35.4% | 47.2% | 62.4% | 44.2% | 19.2% | 1.5% | 24.0% | 45.3% | 106.3% | - | - | -49.9% | -60.1% | -28.1% | -83.5% | -10.2% | ||
| -14.1% | 13.7% | 29.5% | 30.4% | 37.1% | 37.9% | 15.3% | 8.5% | 1.3% | 18.4% | 34.2% | 76.2% | - | -10.1% | -3.3% | -6.0% | -3.7% | -13.9% | -2.4% | ||
| -459.28 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|
| Employees at the balance-sheet date | - | 1 | 1 |
| full-time | - | 1 | 1 |
| in full-time equivalents | - | 1 | 1 |
| 0.2 | 1 | 1.3 | |
| On a permanent contract | - | 1 | 1 |
| Joined | 0 | - | 0 |
| Left | 1 | - | 1 |
Source: social balance sheet in the 2022 to 2024 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €341,019 | €55,785 | €3,111 |
| €42,746 | €80,392 | €5,910 | €17,074 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on GERO
The operating result for 2025 is a loss of €89,142, after a profit of €237,498 in 2024. It is the lowest result since 2007.
Debt's share of the balance-sheet total rises from 0.4% to 1.2%. Equity is lower and debt is higher.
- 2024 Net result -53% on 2023. This financial year ran 18 months, the previous one 12.