AT GEORGE'S: what changed
AT GEORGE'S
Largest movements
- Tangible fixed assets -€9,545
down €9,545 (-24.4%), from €39,137 to €29,592
of which Furniture and vehicles: -€5,892
- Cash +€3,855
up €3,855 (+8.1%), from €47,781 to €51,637
mainly Depreciation (+€9,545) and Net result for the year (+€9,395)
- Receivables within one year -€1,223
down €1,223 (-19.3%), from €6,334 to €5,111
of which Other amounts receivable: -€1,620
- Trade debts -€13,205
down €13,205 (-56.0%), from €23,560 to €10,355
- Reserves +€9,395
up €9,395 (+15.6%), from €60,063 to €69,458
- Debts after one year -€2,718
no longer reported in 2025 (was €2,718)
- Current portion of long-term debt -€1,297
down €1,297 (-32.3%), from €4,015 to €2,718
- Gross operating margin +€8,209
up €8,209 (+43.8%), from €18,729 to €26,938
- Taxes +€3,508
up €3,508 (+187%), from €1,880 to €5,388
- Depreciation -€1,702
down €1,702 (-15.1%), from €11,247 to €9,545
- Financial charges -€424
down €424 (-47.8%), from €887 to €463
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,128 | €92,843 | -€7,285 | -7.3% |
| Fixed assets | 21/28 | €39,137 | €29,592 | -€9,545 | -24.4% |
| Tangible fixed assets | 22/27 | €39,137 | €29,592 | -€9,545 | -24.4% |
| Land and buildings | 22 | €11,791 | €9,363 | -€2,427 | -20.6% |
| Plant, machinery and equipment | 23 | €3,805 | €2,579 | -€1,225 | -32.2% |
| Furniture and vehicles | 24 | €23,541 | €17,649 | -€5,892 | -25.0% |
| Current assets | 29/58 | €60,991 | €63,251 | +€2,260 | +3.7% |
| Stocks and contracts in progress | 3 | €5,850 | €5,021 | -€830 | -14.2% |
| Stocks | 30/36 | €5,850 | €5,021 | -€830 | -14.2% |
| Amounts receivable within one year | 40/41 | €6,334 | €5,111 | -€1,223 | -19.3% |
| Trade receivables | 40 | €4,714 | €5,111 | +€397 | +8.4% |
| Other amounts receivable | 41 | €1,620 | - | -€1,620 | |
| Cash at bank and in hand | 54/58 | €47,781 | €51,637 | +€3,855 | +8.1% |
| Deferred charges and accrued income | 490/1 | €1,026 | €1,483 | +€457 | +44.5% |
| Total equity and liabilities | 10/49 | €100,128 | €92,843 | -€7,285 | -7.3% |
| Equity | 10/15 | €67,178 | €76,573 | +€9,395 | +14.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,063 | €69,458 | +€9,395 | +15.6% |
| Distributable reserves | 133 | €60,063 | €69,458 | +€9,395 | +15.6% |
| Profit (loss) carried forward | 14 | €915 | €915 | = | 0.0% |
| Amounts payable | 17/49 | €32,950 | €16,270 | -€16,680 | -50.6% |
| Amounts payable after more than one year | 17 | €2,718 | - | -€2,718 | |
| Financial debts | 170/4 | €2,718 | - | -€2,718 | |
| Amounts payable within one year | 42/48 | €30,233 | €16,270 | -€13,962 | -46.2% |
| Current portion of amounts payable after more than one year | 42 | €4,015 | €2,718 | -€1,297 | -32.3% |
| Trade debts | 44 | €23,560 | €10,355 | -€13,205 | -56.0% |
| Suppliers | 440/4 | €23,560 | €10,355 | -€13,205 | -56.0% |
| Taxes, remuneration and social security | 45 | €2,329 | €3,198 | +€869 | +37.3% |
| Taxes | 450/3 | €2,329 | €3,198 | +€869 | +37.3% |
| Other amounts payable | 47/48 | €328 | - | -€328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,247 | €9,545 | -€1,702 | -15.1% |
| Other operating charges | 640/8 | €2,284 | €2,405 | +€121 | +5.3% |
| Gross operating margin | 9900 | €18,729 | €26,938 | +€8,209 | +43.8% |
| Operating profit (loss) | 9901 | €5,198 | €14,988 | +€9,790 | +188% |
| Financial income | 75/76B | €11 | €258 | +€247 | +2,342% |
| Recurring financial income | 75 | €11 | €258 | +€247 | +2,342% |
| Financial charges | 65/66B | €887 | €463 | -€424 | -47.8% |
| Recurring financial charges | 65 | €887 | €463 | -€424 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €4,321 | €14,783 | +€10,462 | +242% |
| Income taxes | 67/77 | €1,880 | €5,388 | +€3,508 | +187% |
| Profit (loss) for the period | 9904 | €2,441 | €9,395 | +€6,954 | +285% |
| Profit (loss) for the period to be appropriated | 9905 | €2,441 | €9,395 | +€6,954 | +285% |
Next steps
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 2 November 2026 via checked.be.