Chapter George Develops: what changed
What changed
Chapter George Develops
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€138,050
2024 · €65,420+€72,630
Equity
€3.8m
2024 · €3.7m+€138,050
Cash
€86,505
2024 · €97,274-€10,769
Balance sheet total
€12.6m
2024 · €10.6m+€1.9m
Largest movements
Assets
- Stocks and contracts +€2.2m
up €2.2m (+22.4%), from €10.0m to €12.2m
- Receivables within one year -€289,485
down €289,485 (-65.0%), from €445,393 to €155,908
of which Trade receivables: -€242,525
Equity and liabilities
- Other debts +€1.8m
up €1.8m (+207%), from €853,109 to €2.6m
- Short-term financial debts +€451,426
up €451,426 (+13.8%), from €3.3m to €3.7m
- Tax, wage and social debts -€301,256
down €301,256 (-86.1%), from €349,892 to €48,636
of which Taxes: -€293,301
- Trade debts -€187,303
down €187,303 (-16.1%), from €1.2m to €973,709
- Reserves +€138,050
up €138,050 (+4.1%), from €3.4m to €3.5m
Income statement
- Turnover +€1.3m
up €1.3m (+18.0%), from €7.2m to €8.5m
- Goods and materials +€1.1m
up €1.1m (+20.9%), from €5.4m to €6.6m
of which Change in stocks: decrease (increase): +€1.0m
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.
Result 2024
€65,420
Turnover
+€1.3m
Other operating income
+€6,362
Goods and materials
-€1.1m
Services and other goods
-€51,734
Staff costs
-€8,602
Depreciation
-€5,931
Other operating charges
+€118
Other operating items
-€79
Financial income
+€32,265
Financial charges
-€34,011
Taxes
-€23,690
Result 2025
€138,050
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€485,633
Investment
-€15,562
Financing
+€490,426
Cash 2024
€97,274
From operations (derived)
-€485,633
Net result for the year
+€138,050
Depreciation
+€40,365
Stocks and contracts
-€2.2m
Receivables within one year
+€289,485
Deferred charges and accrued income
-€32,400
Trade debts
-€187,303
Tax, wage and social debts
-€301,256
Other debts
+€1.8m
Accrued charges and deferred income
+€47,577
Investment (derived)
-€15,562
Investment in fixed assets (net)
-€15,562
Financing
+€490,426
Debts after one year
+€39,000
Short-term financial debts
+€451,426
Cash 2025
€86,505
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,643,518 | €12,593,213 | +€1.9m | +18.3% |
| Fixed assets | 21/28 | €77,720 | €52,918 | -€24,803 | -31.9% |
| Tangible fixed assets | 22/27 | €77,720 | €52,918 | -€24,803 | -31.9% |
| Plant, machinery and equipment | 23 | €1,018 | €790 | -€228 | -22.4% |
| Furniture and vehicles | 24 | €22,607 | €16,941 | -€5,666 | -25.1% |
| Other tangible fixed assets | 26 | €54,095 | €35,186 | -€18,909 | -35.0% |
| Current assets | 29/58 | €10,565,798 | €12,540,295 | +€2.0m | +18.7% |
| Stocks and contracts in progress | 3 | €9,989,802 | €12,232,153 | +€2.2m | +22.4% |
| Stocks | 30/36 | €9,989,802 | €12,232,153 | +€2.2m | +22.4% |
| Property held for sale | 35 | €9,989,802 | €12,232,153 | +€2.2m | +22.4% |
| Amounts receivable within one year | 40/41 | €445,393 | €155,908 | -€289,485 | -65.0% |
| Trade receivables | 40 | €368,488 | €125,963 | -€242,525 | -65.8% |
| Other amounts receivable | 41 | €76,905 | €29,945 | -€46,960 | -61.1% |
| Cash at bank and in hand | 54/58 | €97,274 | €86,505 | -€10,769 | -11.1% |
| Deferred charges and accrued income | 490/1 | €33,330 | €65,729 | +€32,400 | +97.2% |
| Total equity and liabilities | 10/49 | €10,643,518 | €12,593,213 | +€1.9m | +18.3% |
| Equity | 10/15 | €3,656,793 | €3,794,843 | +€138,050 | +3.8% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €3,356,793 | €3,494,843 | +€138,050 | +4.1% |
| Distributable reserves | 133 | €3,356,793 | €3,494,843 | +€138,050 | +4.1% |
| Amounts payable | 17/49 | €6,986,726 | €8,798,369 | +€1.8m | +25.9% |
| Amounts payable after more than one year | 17 | €1,323,277 | €1,362,277 | +€39,000 | +2.9% |
| Financial debts | 170/4 | €1,323,277 | €1,362,277 | +€39,000 | +2.9% |
| Other loans | 174 | €1,323,277 | €1,362,277 | +€39,000 | +2.9% |
| Amounts payable within one year | 42/48 | €5,631,257 | €7,356,325 | +€1.7m | +30.6% |
| Financial debts | 43 | €3,267,245 | €3,718,671 | +€451,426 | +13.8% |
| Credit institutions | 430/8 | €3,267,245 | €3,718,671 | +€451,426 | +13.8% |
| Trade debts | 44 | €1,161,012 | €973,709 | -€187,303 | -16.1% |
| Suppliers | 440/4 | €1,161,012 | €973,709 | -€187,303 | -16.1% |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €349,892 | €48,636 | -€301,256 | -86.1% |
| Taxes | 450/3 | €315,855 | €22,554 | -€293,301 | -92.9% |
| Remuneration and social security | 454/9 | €34,037 | €26,082 | -€7,955 | -23.4% |
| Other amounts payable | 47/48 | €853,109 | €2,615,309 | +€1.8m | +207% |
| Accrued charges and deferred income | 492/3 | €32,191 | €79,768 | +€47,577 | +148% |
| Operating income | 70/76A | €7,194,196 | €8,495,734 | +€1.3m | +18.1% |
| Turnover | 70 | €7,182,007 | €8,477,262 | +€1.3m | +18.0% |
| Other operating income | 74 | €12,110 | €18,472 | +€6,362 | +52.5% |
| Non-recurring operating income | 76A | €79 | - | -€79 | |
| Operating charges | 60/66A | €6,944,652 | €8,148,122 | +€1.2m | +17.3% |
| Goods for resale, raw materials and consumables | 60 | €5,443,387 | €6,580,709 | +€1.1m | +20.9% |
| Purchases | 600/8 | €7,405,713 | €7,525,467 | +€119,754 | +1.6% |
| Change in stocks: decrease (increase) | 609 | -€1,962,326 | -€944,758 | +€1.0m | +51.9% |
| Services and other goods | 61 | €1,208,166 | €1,259,900 | +€51,734 | +4.3% |
| Remuneration, social security and pensions | 62 | €249,009 | €257,611 | +€8,602 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,435 | €40,365 | +€5,931 | +17.2% |
| Other operating charges | 640/8 | €9,655 | €9,537 | -€118 | -1.2% |
| Operating profit (loss) | 9901 | €249,544 | €347,612 | +€98,067 | +39.3% |
| Financial income | 75/76B | €92,845 | €125,110 | +€32,265 | +34.8% |
| Recurring financial income | 75 | €92,845 | €106,083 | +€13,238 | +14.3% |
| Other financial income | 752/9 | €92,845 | €106,083 | +€13,238 | +14.3% |
| Non-recurring financial income | 76B | - | €19,027 | +€19,027 | |
| Financial charges | 65/66B | €250,660 | €284,671 | +€34,011 | +13.6% |
| Recurring financial charges | 65 | €250,660 | €284,671 | +€34,011 | +13.6% |
| Debt charges | 650 | €181,389 | €219,931 | +€38,542 | +21.2% |
| Other financial charges | 652/9 | €69,270 | €64,740 | -€4,531 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €91,730 | €188,050 | +€96,320 | +105% |
| Income taxes | 67/77 | €26,310 | €50,000 | +€23,690 | +90.0% |
| Taxes | 670/3 | €26,310 | €50,000 | +€23,690 | +90.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €65,420 | €138,050 | +€72,630 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €65,420 | €138,050 | +€72,630 | +111% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 6 November 2026 via checked.be.