DE GEEST PROJECT: 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.
DE GEEST PROJECT
Largest movements
- Cash -€540,543
down €540,543 (-95.7%), from €564,665 to €24,122
mainly Current investments (-€524,370) and Net result for the year (-€38,667)
- Current investments +€524,370
up €524,370 (+144%), from €364,071 to €888,441
- Tangible fixed assets -€41,071
down €41,071 (-3.2%), from €1.3m to €1.3m
of which Land and buildings: -€31,530
- Reserves -€38,667
down €38,667 (-1.7%), from €2.2m to €2.2m
- Gross operating margin +€16,170
up €16,170, from -€11,416 to €4,754
- Financial income -€5,245
down €5,245 (-35.3%), from €14,838 to €9,593
- Depreciation +€572
up €572 (+1.3%), from €44,673 to €45,245
- Financial charges +€485
up €485 (+108%), from €450 to €935
- Other operating charges +€305
up €305 (+4.7%), from €6,530 to €6,835
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 | €2,242,817 | €2,202,315 | -€40,502 | -1.8% |
| Fixed assets | 21/28 | €1,301,074 | €1,260,003 | -€41,071 | -3.2% |
| Tangible fixed assets | 22/27 | €1,301,074 | €1,260,003 | -€41,071 | -3.2% |
| Land and buildings | 22 | €1,284,343 | €1,252,813 | -€31,530 | -2.5% |
| Plant, machinery and equipment | 23 | €8,141 | €4,778 | -€3,363 | -41.3% |
| Furniture and vehicles | 24 | €8,590 | €2,412 | -€6,178 | -71.9% |
| Current assets | 29/58 | €941,742 | €942,312 | +€569 | +0.1% |
| Amounts receivable within one year | 40/41 | €10,740 | €26,818 | +€16,078 | +150% |
| Trade receivables | 40 | €1,269 | €20,091 | +€18,822 | +1,483% |
| Other amounts receivable | 41 | €9,472 | €6,728 | -€2,744 | -29.0% |
| Current investments | 50/53 | €364,071 | €888,441 | +€524,370 | +144% |
| Cash at bank and in hand | 54/58 | €564,665 | €24,122 | -€540,543 | -95.7% |
| Deferred charges and accrued income | 490/1 | €2,266 | €2,930 | +€664 | +29.3% |
| Total equity and liabilities | 10/49 | €2,242,817 | €2,202,315 | -€40,502 | -1.8% |
| Equity | 10/15 | €2,236,977 | €2,198,310 | -€38,667 | -1.7% |
| Contributions | 10/11 | €12,188 | €12,188 | = | 0.0% |
| Reserves | 13 | €2,224,789 | €2,186,122 | -€38,667 | -1.7% |
| Distributable reserves | 133 | €2,224,789 | €2,186,122 | -€38,667 | -1.7% |
| Amounts payable | 17/49 | €5,840 | €4,005 | -€1,835 | -31.4% |
| Amounts payable within one year | 42/48 | €3,140 | €4,005 | +€865 | +27.6% |
| Trade debts | 44 | €1,519 | €128 | -€1,390 | -91.6% |
| Suppliers | 440/4 | €1,519 | €128 | -€1,390 | -91.6% |
| Taxes, remuneration and social security | 45 | €881 | €1,987 | +€1,105 | +125% |
| Taxes | 450/3 | €881 | €1,173 | +€292 | +33.1% |
| Remuneration and social security | 454/9 | - | €814 | +€814 | |
| Other amounts payable | 47/48 | €740 | €1,890 | +€1,151 | +156% |
| Accrued charges and deferred income | 492/3 | €2,700 | €0 | -€2,700 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,673 | €45,245 | +€572 | +1.3% |
| Other operating charges | 640/8 | €6,530 | €6,835 | +€305 | +4.7% |
| Gross operating margin | 9900 | -€11,416 | €4,754 | +€16,170 | |
| Operating profit (loss) | 9901 | -€62,619 | -€47,326 | +€15,293 | +24.4% |
| Financial income | 75/76B | €14,838 | €9,593 | -€5,245 | -35.3% |
| Recurring financial income | 75 | €14,838 | €9,593 | -€5,245 | -35.3% |
| Financial charges | 65/66B | €450 | €935 | +€485 | +108% |
| Recurring financial charges | 65 | €450 | €935 | +€485 | +108% |
| Profit (loss) for the period before taxes | 9903 | -€48,230 | -€38,667 | +€9,563 | +19.8% |
| Profit (loss) for the period | 9904 | -€48,230 | -€38,667 | +€9,563 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,230 | -€38,667 | +€9,563 | +19.8% |
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 15 October 2026 via checked.be.