BAELE - GEEROMS: 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.
BAELE - GEEROMS
Largest movements
- Tangible fixed assets +€80,988
up €80,988 (+120%), from €67,580 to €148,567
of which Furniture and vehicles: +€85,266
- Cash -€32,407
down €32,407 (-14.6%), from €222,604 to €190,197
mainly Investment in fixed assets (net) (-€110,819) and Short-term financial debts (-€16,729)
- Receivables within one year -€9,280
down €9,280 (-2.2%), from €416,107 to €406,826
of which Trade receivables: -€18,170
- Trade debts +€51,895
up €51,895 (+43.3%), from €119,907 to €171,803
- Reserves +€17,659
up €17,659 (+3.3%), from €537,750 to €555,409
of which Distributable reserves: +€17,659
- Short-term financial debts -€16,729
down €16,729 (-32.3%), from €51,729 to €35,000
- Tax, wage and social debts -€10,820
down €10,820 (-16.0%), from €67,666 to €56,846
of which Taxes: -€23,580
- Staff costs +€22,838
up €22,838 (+29.6%), from €77,202 to €100,040
- Taxes -€10,377
down €10,377 (-53.4%), from €19,449 to €9,072
- Depreciation +€7,443
up €7,443 (+33.2%), from €22,388 to €29,832
- Financial charges -€3,065
down €3,065 (-53.0%), from €5,779 to €2,714
- Gross operating margin +€2,930
up €2,930 (+1.9%), from €155,116 to €158,046
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 | €839,052 | €881,058 | +€42,005 | +5.0% |
| Fixed assets | 21/28 | €72,752 | €153,740 | +€80,988 | +111% |
| Tangible fixed assets | 22/27 | €67,580 | €148,567 | +€80,988 | +120% |
| Land and buildings | 22 | - | €7,644 | +€7,644 | |
| Plant, machinery and equipment | 23 | €52,634 | €41,322 | -€11,312 | -21.5% |
| Furniture and vehicles | 24 | €10,370 | €95,637 | +€85,266 | +822% |
| Other tangible fixed assets | 26 | €4,575 | €3,965 | -€610 | -13.3% |
| Financial fixed assets | 28 | €5,173 | €5,173 | = | 0.0% |
| Current assets | 29/58 | €766,300 | €727,318 | -€38,982 | -5.1% |
| Stocks and contracts in progress | 3 | €107,033 | €115,710 | +€8,678 | +8.1% |
| Stocks | 30/36 | €107,033 | €115,710 | +€8,678 | +8.1% |
| Amounts receivable within one year | 40/41 | €416,107 | €406,826 | -€9,280 | -2.2% |
| Trade receivables | 40 | €76,470 | €58,300 | -€18,170 | -23.8% |
| Other amounts receivable | 41 | €339,636 | €348,526 | +€8,889 | +2.6% |
| Cash at bank and in hand | 54/58 | €222,604 | €190,197 | -€32,407 | -14.6% |
| Deferred charges and accrued income | 490/1 | €20,557 | €14,585 | -€5,972 | -29.1% |
| Total equity and liabilities | 10/49 | €839,052 | €881,058 | +€42,005 | +5.0% |
| Equity | 10/15 | €599,750 | €617,409 | +€17,659 | +2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €537,750 | €555,409 | +€17,659 | +3.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €531,550 | €549,209 | +€17,659 | +3.3% |
| Amounts payable | 17/49 | €239,302 | €263,649 | +€24,346 | +10.2% |
| Amounts payable within one year | 42/48 | €239,302 | €263,649 | +€24,346 | +10.2% |
| Financial debts | 43 | €51,729 | €35,000 | -€16,729 | -32.3% |
| Credit institutions | 430/8 | €51,729 | €35,000 | -€16,729 | -32.3% |
| Trade debts | 44 | €119,907 | €171,803 | +€51,895 | +43.3% |
| Suppliers | 440/4 | €119,907 | €171,803 | +€51,895 | +43.3% |
| Taxes, remuneration and social security | 45 | €67,666 | €56,846 | -€10,820 | -16.0% |
| Taxes | 450/3 | €60,816 | €37,236 | -€23,580 | -38.8% |
| Remuneration and social security | 454/9 | €6,850 | €19,611 | +€12,760 | +186% |
| Remuneration, social security and pensions | 62 | €77,202 | €100,040 | +€22,838 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,388 | €29,832 | +€7,443 | +33.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €211 | €0 | -€211 | -100% |
| Other operating charges | 640/8 | €8,293 | €11,096 | +€2,803 | +33.8% |
| Gross operating margin | 9900 | €155,116 | €158,046 | +€2,930 | +1.9% |
| Operating profit (loss) | 9901 | €47,021 | €17,079 | -€29,942 | -63.7% |
| Financial income | 75/76B | €10,878 | €12,366 | +€1,488 | +13.7% |
| Recurring financial income | 75 | €10,878 | €12,366 | +€1,488 | +13.7% |
| Financial charges | 65/66B | €5,779 | €2,714 | -€3,065 | -53.0% |
| Recurring financial charges | 65 | €5,779 | €2,714 | -€3,065 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | €52,120 | €26,731 | -€25,389 | -48.7% |
| Income taxes | 67/77 | €19,449 | €9,072 | -€10,377 | -53.4% |
| Profit (loss) for the period | 9904 | €32,671 | €17,659 | -€15,012 | -45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,671 | €17,659 | -€15,012 | -45.9% |
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 25 October 2026 via checked.be.