De Geet: 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 Geet
Largest movements
- Receivables within one year +€154,132
up €154,132 (+220%), from €70,032 to €224,165
of which Trade receivables: +€114,190
- Tangible fixed assets -€41,806
down €41,806 (-10.4%), from €400,982 to €359,176
- Stocks and contracts -€38,469
down €38,469 (-6.2%), from €619,437 to €580,968
- Cash -€12,868
down €12,868 (-18.0%), from €71,296 to €58,428
mainly Receivables within one year (-€154,132) and Short-term financial debts (-€150,000)
- Short-term financial debts -€150,000
down €150,000 (-60.0%), from €250,000 to €100,000
- Tax, wage and social debts +€109,689
up €109,689 (+2,168%), from €5,060 to €114,749
of which Taxes: +€109,073
- Reserves +€68,921
up €68,921 (+25.2%), from €273,833 to €342,754
of which Distributable reserves: +€68,921
- Profit (loss) carried forward +€63,593
up €63,593, from -€63,593 to €0
- Trade debts -€36,615
down €36,615 (-28.2%), from €129,629 to €93,014
- Gross operating margin +€144,728
up €144,728 (+162%), from €89,442 to €234,170
- Taxes +€35,523
up €35,523, from €0 to €35,523
- Depreciation +€11,889
up €11,889 (+38.1%), from €31,217 to €43,106
- Staff costs +€6,087
up €6,087, from -€868 to €5,219
- Other operating charges -€5,005
down €5,005 (-71.2%), from €7,027 to €2,022
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,161,821 | €1,222,811 | +€60,990 | +5.2% |
| Fixed assets | 21/28 | €401,056 | €359,250 | -€41,806 | -10.4% |
| Tangible fixed assets | 22/27 | €400,982 | €359,176 | -€41,806 | -10.4% |
| Land and buildings | 22 | €245,562 | €226,405 | -€19,157 | -7.8% |
| Plant, machinery and equipment | 23 | €110,489 | €102,598 | -€7,891 | -7.1% |
| Furniture and vehicles | 24 | €16,934 | €7,005 | -€9,929 | -58.6% |
| Other tangible fixed assets | 26 | €27,997 | €23,169 | -€4,828 | -17.2% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €760,765 | €863,561 | +€102,796 | +13.5% |
| Stocks and contracts in progress | 3 | €619,437 | €580,968 | -€38,469 | -6.2% |
| Stocks | 30/36 | €619,437 | €580,968 | -€38,469 | -6.2% |
| Amounts receivable within one year | 40/41 | €70,032 | €224,165 | +€154,132 | +220% |
| Trade receivables | 40 | €63,000 | €177,191 | +€114,190 | +181% |
| Other amounts receivable | 41 | €7,032 | €46,974 | +€39,942 | +568% |
| Cash at bank and in hand | 54/58 | €71,296 | €58,428 | -€12,868 | -18.0% |
| Total equity and liabilities | 10/49 | €1,161,821 | €1,222,811 | +€60,990 | +5.2% |
| Equity | 10/15 | €381,721 | €514,235 | +€132,514 | +34.7% |
| Contributions | 10/11 | €171,481 | €171,481 | = | 0.0% |
| Reserves | 13 | €273,833 | €342,754 | +€68,921 | +25.2% |
| Tax-exempt reserves | 132 | €27,643 | €27,643 | = | 0.0% |
| Distributable reserves | 133 | €246,190 | €315,111 | +€68,921 | +28.0% |
| Profit (loss) carried forward | 14 | -€63,593 | €0 | +€63,593 | |
| Amounts payable | 17/49 | €780,100 | €708,576 | -€71,524 | -9.2% |
| Amounts payable after more than one year | 17 | €233,251 | €213,350 | -€19,902 | -8.5% |
| Financial debts | 170/4 | €233,251 | €213,350 | -€19,902 | -8.5% |
| Amounts payable within one year | 42/48 | €546,849 | €495,226 | -€51,623 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €30,722 | €19,902 | -€10,821 | -35.2% |
| Financial debts | 43 | €250,000 | €100,000 | -€150,000 | -60.0% |
| Credit institutions | 430/8 | €250,000 | €100,000 | -€150,000 | -60.0% |
| Trade debts | 44 | €129,629 | €93,014 | -€36,615 | -28.2% |
| Suppliers | 440/4 | €129,629 | €93,014 | -€36,615 | -28.2% |
| Taxes, remuneration and social security | 45 | €5,060 | €114,749 | +€109,689 | +2,168% |
| Taxes | 450/3 | €2,790 | €111,863 | +€109,073 | +3,909% |
| Remuneration and social security | 454/9 | €2,270 | €2,886 | +€616 | +27.1% |
| Other amounts payable | 47/48 | €131,437 | €167,562 | +€36,124 | +27.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€868 | €5,219 | +€6,087 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,217 | €43,106 | +€11,889 | +38.1% |
| Other operating charges | 640/8 | €7,027 | €2,022 | -€5,005 | -71.2% |
| Gross operating margin | 9900 | €89,442 | €234,170 | +€144,728 | +162% |
| Operating profit (loss) | 9901 | €52,066 | €183,823 | +€131,757 | +253% |
| Financial income | 75/76B | €2,938 | €2,070 | -€868 | -29.6% |
| Recurring financial income | 75 | €2,938 | €2,070 | -€868 | -29.6% |
| Financial charges | 65/66B | €15,217 | €17,856 | +€2,639 | +17.3% |
| Recurring financial charges | 65 | €15,217 | €17,856 | +€2,639 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €39,788 | €168,037 | +€128,249 | +322% |
| Income taxes | 67/77 | €0 | €35,523 | +€35,523 | |
| Profit (loss) for the period | 9904 | €39,788 | €132,514 | +€92,726 | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €39,788 | €132,514 | +€92,726 | +233% |
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 24 October 2026 via checked.be.