Bart Geeraerts: 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.
Bart Geeraerts
Largest movements
- Receivables within one year -€48,678
down €48,678 (-49.2%), from €98,849 to €50,171
of which Trade receivables: -€63,430
- Stocks and contracts +€13,624
up €13,624 (+306%), from €4,450 to €18,074
of which Stocks: +€8,362
- Cash +€3,670
up €3,670 (+28.4%), from €12,910 to €16,579
mainly Receivables within one year (+€48,678) and Net result for the year (+€25,812)
- Trade debts -€46,621
down €46,621 (-56.8%), from €82,096 to €35,475
- Reserves +€25,812
up €25,812 (+268%), from €9,643 to €35,455
- Advances received -€17,134
no longer reported in 2024 (was €17,134)
- Tax, wage and social debts +€6,558
up €6,558 (+197%), from €3,335 to €9,894
- Gross operating margin +€20,209
up €20,209 (+128%), from €15,812 to €36,021
- Staff costs -€14,990
no longer reported in 2024 (was €14,990)
- Taxes +€9,659
up €9,659 (+8,236%), from €117 to €9,776
- Other operating charges +€1,506
up €1,506 (+415%), from €363 to €1,868
- Financial income +€1,342
up €1,342 (+203%), from €660 to €2,002
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,209 | €84,824 | -€31,384 | -27.0% |
| Current assets | 29/58 | €116,209 | €84,824 | -€31,384 | -27.0% |
| Stocks and contracts in progress | 3 | €4,450 | €18,074 | +€13,624 | +306% |
| Stocks | 30/36 | €4,450 | €12,812 | +€8,362 | +188% |
| Contracts in progress | 37 | - | €5,262 | +€5,262 | |
| Amounts receivable within one year | 40/41 | €98,849 | €50,171 | -€48,678 | -49.2% |
| Trade receivables | 40 | €75,771 | €12,341 | -€63,430 | -83.7% |
| Other amounts receivable | 41 | €23,078 | €37,830 | +€14,752 | +63.9% |
| Cash at bank and in hand | 54/58 | €12,910 | €16,579 | +€3,670 | +28.4% |
| Total equity and liabilities | 10/49 | €116,209 | €84,824 | -€31,384 | -27.0% |
| Equity | 10/15 | €13,643 | €39,455 | +€25,812 | +189% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €9,643 | €35,455 | +€25,812 | +268% |
| Distributable reserves | 133 | €9,643 | €35,455 | +€25,812 | +268% |
| Amounts payable | 17/49 | €102,566 | €45,369 | -€57,197 | -55.8% |
| Amounts payable within one year | 42/48 | €102,566 | €45,369 | -€57,197 | -55.8% |
| Trade debts | 44 | €82,096 | €35,475 | -€46,621 | -56.8% |
| Suppliers | 440/4 | €82,096 | €35,475 | -€46,621 | -56.8% |
| Advances received on contracts in progress | 46 | €17,134 | - | -€17,134 | |
| Taxes, remuneration and social security | 45 | €3,335 | €9,894 | +€6,558 | +197% |
| Taxes | 450/3 | €3,335 | €9,894 | +€6,558 | +197% |
| Remuneration, social security and pensions | 62 | €14,990 | - | -€14,990 | |
| Other operating charges | 640/8 | €363 | €1,868 | +€1,506 | +415% |
| Gross operating margin | 9900 | €15,812 | €36,021 | +€20,209 | +128% |
| Operating profit (loss) | 9901 | €459 | €34,153 | +€33,693 | +7,334% |
| Financial income | 75/76B | €660 | €2,002 | +€1,342 | +203% |
| Recurring financial income | 75 | €660 | €2,002 | +€1,342 | +203% |
| Financial charges | 65/66B | €942 | €566 | -€376 | -39.9% |
| Recurring financial charges | 65 | €942 | €566 | -€376 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €178 | €35,589 | +€35,411 | +19,895% |
| Income taxes | 67/77 | €117 | €9,776 | +€9,659 | +8,236% |
| Profit (loss) for the period | 9904 | €61 | €25,812 | +€25,752 | +42,418% |
| Profit (loss) for the period to be appropriated | 9905 | €61 | €25,812 | +€25,752 | +42,418% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.