Bernard GEETS: what changed
Two fiscal 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.
Bernard GEETS
Largest movements
- Tangible fixed assets -€34,079
down €34,079 (-21.2%), from €160,809 to €126,730
of which Furniture and vehicles: -€17,772
- Receivables within one year +€9,028
up €9,028 (+490.0%), from €1,842 to €10,870
of which Trade receivables: +€10,089
- Cash +€1,666
up €1,666 (+1830.0%), from €91 to €1,757
mainly Depreciation (+€46,079) and Trade debts (+€2,986)
- Debts after one year -€23,072
down €23,072 (-28.8%), from €79,999 to €56,927
- Profit (loss) carried forward -€5,121
down €5,121 (-9.4%), from -€54,374 to -€59,495
- Trade debts +€2,986
new in 2025: €2,986
- Depreciation -€8,144
down €8,144 (-15.0%), from €54,223 to €46,079
- Gross operating margin +€7,043
up €7,043 (+18.1%), from €38,910 to €45,953
- Financial charges -€749
down €749 (-17.1%), from €4,384 to €3,635
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.
Cash bridge derived
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 | €164,826 | €140,732 | -€24,094 | -14.6% |
| Fixed assets | 21/28 | €160,809 | €126,730 | -€34,079 | -21.2% |
| Tangible fixed assets | 22/27 | €160,809 | €126,730 | -€34,079 | -21.2% |
| Plant, machinery and equipment | 23 | €105,738 | €89,431 | -€16,308 | -15.4% |
| Furniture and vehicles | 24 | €55,071 | €37,299 | -€17,772 | -32.3% |
| Current assets | 29/58 | €4,017 | €14,003 | +€9,986 | +248.6% |
| Stocks and contracts in progress | 3 | €1,404 | €589 | -€815 | -58.0% |
| Stocks | 30/36 | €1,404 | €589 | -€815 | -58.0% |
| Amounts receivable within one year | 40/41 | €1,842 | €10,870 | +€9,028 | +490.0% |
| Trade receivables | 40 | €781 | €10,870 | +€10,089 | +1291.7% |
| Other amounts receivable | 41 | €1,061 | - | -€1,061 | |
| Cash at bank and in hand | 54/58 | €91 | €1,757 | +€1,666 | +1830.0% |
| Deferred charges and accrued income | 490/1 | €680 | €786 | +€106 | +15.6% |
| Total equity and liabilities | 10/49 | €164,826 | €140,732 | -€24,094 | -14.6% |
| Equity | 10/15 | -€37,205 | -€41,875 | -€4,670 | -12.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,769 | €4,140 | +€1,371 | +49.5% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €909 | €2,280 | +€1,371 | +150.8% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€54,374 | -€59,495 | -€5,121 | -9.4% |
| Investment grants | 15 | €2,000 | €1,080 | -€920 | -46.0% |
| Provisions and deferred taxes | 16 | €291 | €120 | -€171 | -58.8% |
| Deferred taxes | 168 | €291 | €120 | -€171 | -58.8% |
| Amounts payable | 17/49 | €201,740 | €182,488 | -€19,253 | -9.5% |
| Amounts payable after more than one year | 17 | €79,999 | €56,927 | -€23,072 | -28.8% |
| Financial debts | 170/4 | €79,999 | €56,927 | -€23,072 | -28.8% |
| Amounts payable within one year | 42/48 | €121,741 | €125,561 | +€3,819 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €23,072 | €23,072 | = | 0.0% |
| Trade debts | 44 | - | €2,986 | +€2,986 | |
| Suppliers | 440/4 | - | €2,986 | +€2,986 | |
| Taxes, remuneration and social security | 45 | €128 | €298 | +€170 | +132.7% |
| Taxes | 450/3 | €128 | €298 | +€170 | +132.7% |
| Other amounts payable | 47/48 | €98,542 | €99,205 | +€663 | +0.7% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,223 | €46,079 | -€8,144 | -15.0% |
| Other operating charges | 640/8 | €673 | €990 | +€317 | +47.1% |
| Gross operating margin | 9900 | €38,910 | €45,953 | +€7,043 | +18.1% |
| Operating profit (loss) | 9901 | -€15,986 | -€1,116 | +€14,870 | +93.0% |
| Financial income | 75/76B | €920 | €920 | -€0 | 0.0% |
| Recurring financial income | 75 | €920 | €920 | -€0 | 0.0% |
| Financial charges | 65/66B | €4,384 | €3,635 | -€749 | -17.1% |
| Recurring financial charges | 65 | €4,384 | €3,635 | -€749 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | -€19,451 | -€3,832 | +€15,619 | +80.3% |
| Transfer from deferred taxes | 780 | €359 | €190 | -€169 | -47.0% |
| Transfer to deferred taxes | 680 | - | €400 | +€400 | |
| Income taxes | 67/77 | €128 | €89 | -€38 | -29.9% |
| Profit (loss) for the period | 9904 | -€19,220 | -€4,131 | +€15,089 | +78.5% |
| Transfer from tax-exempt reserves | 789 | €1,095 | €610 | -€485 | -44.3% |
| Transfer to tax-exempt reserves | 689 | - | €1,600 | +€1,600 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,125 | -€5,121 | +€13,004 | +71.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.