D. GEERTS: 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.
D. GEERTS
Largest movements
- Current investments +€136,502
up €136,502 (+232.0%), from €58,839 to €195,341
- Cash +€28,695
up €28,695 (+39.3%), from €72,975 to €101,670
mainly Net result for the year (+€170,488) and Tax, wage and social debts (+€3,242)
- Receivables within one year +€5,725
up €5,725 (+39.8%), from €14,372 to €20,097
of which Other amounts receivable: +€5,869
- Profit (loss) carried forward +€170,488
up €170,488 (+118.6%), from €143,803 to €314,292
- Gross operating margin +€65,562
up €65,562 (+40.9%), from €160,373 to €225,934
- Taxes +€16,557
up €16,557 (+46.1%), from €35,907 to €52,465
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 | €152,898 | €326,517 | +€173,619 | +113.6% |
| Fixed assets | 21/28 | €6,712 | €7,075 | +€362 | +5.4% |
| Tangible fixed assets | 22/27 | €6,712 | €7,075 | +€362 | +5.4% |
| Furniture and vehicles | 24 | €5,912 | €5,380 | -€533 | -9.0% |
| Other tangible fixed assets | 26 | €800 | €1,695 | +€895 | +111.9% |
| Current assets | 29/58 | €146,186 | €319,442 | +€173,257 | +118.5% |
| Amounts receivable within one year | 40/41 | €14,372 | €20,097 | +€5,725 | +39.8% |
| Trade receivables | 40 | €144 | €0 | -€144 | -100.0% |
| Other amounts receivable | 41 | €14,228 | €20,097 | +€5,869 | +41.3% |
| Current investments | 50/53 | €58,839 | €195,341 | +€136,502 | +232.0% |
| Cash at bank and in hand | 54/58 | €72,975 | €101,670 | +€28,695 | +39.3% |
| Deferred charges and accrued income | 490/1 | - | €2,334 | +€2,334 | |
| Total equity and liabilities | 10/49 | €152,898 | €326,517 | +€173,619 | +113.6% |
| Equity | 10/15 | €146,803 | €317,292 | +€170,488 | +116.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,803 | €314,292 | +€170,488 | +118.6% |
| Amounts payable | 17/49 | €6,095 | €9,226 | +€3,131 | +51.4% |
| Amounts payable within one year | 42/48 | €6,095 | €9,226 | +€3,131 | +51.4% |
| Trade debts | 44 | €141 | €30 | -€111 | -78.7% |
| Suppliers | 440/4 | €141 | €30 | -€111 | -78.7% |
| Taxes, remuneration and social security | 45 | €5,954 | €9,196 | +€3,242 | +54.5% |
| Taxes | 450/3 | €5,954 | €9,196 | +€3,242 | +54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,637 | €3,142 | +€505 | +19.2% |
| Other operating charges | 640/8 | €1,595 | €1,417 | -€178 | -11.1% |
| Gross operating margin | 9900 | €160,373 | €225,934 | +€65,562 | +40.9% |
| Operating profit (loss) | 9901 | €156,142 | €221,375 | +€65,234 | +41.8% |
| Financial income | 75/76B | €1,243 | €1,632 | +€389 | +31.3% |
| Recurring financial income | 75 | €1,243 | €1,632 | +€389 | +31.3% |
| Financial charges | 65/66B | €178 | €55 | -€123 | -69.1% |
| Recurring financial charges | 65 | €178 | €55 | -€123 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €157,207 | €222,953 | +€65,746 | +41.8% |
| Income taxes | 67/77 | €35,907 | €52,465 | +€16,557 | +46.1% |
| Profit (loss) for the period | 9904 | €121,300 | €170,488 | +€49,189 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €121,300 | €170,488 | +€49,189 | +40.6% |
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.