AED Geuens: 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.
AED Geuens
Largest movements
- Tangible fixed assets +€287,095
up €287,095 (+1,583%), from €18,133 to €305,228
of which Land and buildings: +€285,777
- Receivables within one year +€41,384
up €41,384 (+630%), from €6,573 to €47,957
of which Trade receivables: +€35,870
- Stocks and contracts +€36,074
up €36,074 (+60.6%), from €59,570 to €95,644
of which Contracts in progress: +€22,920
- Cash -€11,511
down €11,511 (-82.4%), from €13,972 to €2,461
mainly Investment in fixed assets (net) (-€328,083) and Receivables within one year (-€41,384)
- Debts after one year +€275,751
new in 2025: €275,751
- Trade debts +€25,808
up €25,808 (+104%), from €24,806 to €50,614
- Other debts +€23,523
up €23,523 (+185%), from €12,717 to €36,239
- Current portion of long-term debt +€11,389
up €11,389, from €0 to €11,389
- Short-term financial debts +€9,840
new in 2025: €9,840
- Depreciation +€31,845
up €31,845 (+348%), from €9,143 to €40,988
- Staff costs -€20,322
down €20,322 (-60.1%), from €33,787 to €13,465
- Taxes -€3,328
down €3,328 (-66.2%), from €5,028 to €1,700
- Gross operating margin -€1,870
down €1,870 (-2.8%), from €65,676 to €63,806
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 | €100,551 | €455,552 | +€355,002 | +353% |
| Fixed assets | 21/28 | €18,133 | €305,228 | +€287,095 | +1,583% |
| Tangible fixed assets | 22/27 | €18,133 | €305,228 | +€287,095 | +1,583% |
| Land and buildings | 22 | €5,246 | €291,023 | +€285,777 | +5,448% |
| Plant, machinery and equipment | 23 | €9,065 | €9,074 | +€9 | +0.1% |
| Furniture and vehicles | 24 | €3,823 | €5,131 | +€1,308 | +34.2% |
| Current assets | 29/58 | €82,418 | €150,324 | +€67,907 | +82.4% |
| Stocks and contracts in progress | 3 | €59,570 | €95,644 | +€36,074 | +60.6% |
| Stocks | 30/36 | €59,570 | €72,724 | +€13,154 | +22.1% |
| Contracts in progress | 37 | €0 | €22,920 | +€22,920 | |
| Amounts receivable within one year | 40/41 | €6,573 | €47,957 | +€41,384 | +630% |
| Trade receivables | 40 | €276 | €36,146 | +€35,870 | +12,989% |
| Other amounts receivable | 41 | €6,296 | €11,810 | +€5,514 | +87.6% |
| Cash at bank and in hand | 54/58 | €13,972 | €2,461 | -€11,511 | -82.4% |
| Deferred charges and accrued income | 490/1 | €2,303 | €4,262 | +€1,959 | +85.1% |
| Total equity and liabilities | 10/49 | €100,551 | €455,552 | +€355,002 | +353% |
| Equity | 10/15 | €58,755 | €63,596 | +€4,841 | +8.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €56,755 | €61,596 | +€4,841 | +8.5% |
| Distributable reserves | 133 | €56,755 | €61,596 | +€4,841 | +8.5% |
| Amounts payable | 17/49 | €41,795 | €391,956 | +€350,161 | +838% |
| Amounts payable after more than one year | 17 | - | €275,751 | +€275,751 | |
| Financial debts | 170/4 | - | €275,751 | +€275,751 | |
| Amounts payable within one year | 42/48 | €41,795 | €116,205 | +€74,410 | +178% |
| Current portion of amounts payable after more than one year | 42 | €0 | €11,389 | +€11,389 | |
| Financial debts | 43 | - | €9,840 | +€9,840 | |
| Credit institutions | 430/8 | - | €9,840 | +€9,840 | |
| Trade debts | 44 | €24,806 | €50,614 | +€25,808 | +104% |
| Suppliers | 440/4 | €24,806 | €50,614 | +€25,808 | +104% |
| Taxes, remuneration and social security | 45 | €4,272 | €8,123 | +€3,851 | +90.1% |
| Taxes | 450/3 | €2,163 | €3,861 | +€1,697 | +78.5% |
| Remuneration and social security | 454/9 | €2,109 | €4,262 | +€2,153 | +102% |
| Other amounts payable | 47/48 | €12,717 | €36,239 | +€23,523 | +185% |
| Non-recurring operating income | 76A | - | €9,051 | +€9,051 | |
| Remuneration, social security and pensions | 62 | €33,787 | €13,465 | -€20,322 | -60.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,143 | €40,988 | +€31,845 | +348% |
| Other operating charges | 640/8 | €1,796 | €1,743 | -€53 | -2.9% |
| Gross operating margin | 9900 | €65,676 | €63,806 | -€1,870 | -2.8% |
| Operating profit (loss) | 9901 | €20,950 | €7,610 | -€13,340 | -63.7% |
| Financial income | 75/76B | €24 | €72 | +€48 | +195% |
| Recurring financial income | 75 | €24 | €72 | +€48 | +195% |
| Financial charges | 65/66B | €1,022 | €1,141 | +€119 | +11.7% |
| Recurring financial charges | 65 | €1,022 | €1,141 | +€119 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €19,953 | €6,541 | -€13,412 | -67.2% |
| Income taxes | 67/77 | €5,028 | €1,700 | -€3,328 | -66.2% |
| Profit (loss) for the period | 9904 | €14,925 | €4,841 | -€10,084 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,925 | €4,841 | -€10,084 | -67.6% |
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 23 October 2026 via checked.be.