DE GHEERLAER: 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 GHEERLAER
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Cash -€291,305
down €291,305 (-78.1%), from €372,949 to €81,644
mainly Current investments (-€300,000) and Receivables within one year (-€65,555)
- Tangible fixed assets -€66,328
down €66,328 (-16.1%), from €413,148 to €346,821
of which Plant, machinery and equipment: -€69,859
- Receivables within one year +€65,555
up €65,555 (+1,050%), from €6,246 to €71,800
of which Other amounts receivable: +€66,825
- Profit (loss) carried forward +€19,885
up €19,885, from -€19,885 to €0
- Current portion of long-term debt -€15,833
down €15,833 (-100%), from €15,833 to €0
- Depreciation -€45,655
down €45,655 (-58.5%), from €78,046 to €32,391
- Financial income -€9,366
down €9,366 (-89.6%), from €10,453 to €1,087
- Gross operating margin +€7,151
up €7,151 (+11.9%), from €60,101 to €67,253
- Other operating charges -€6,379
down €6,379 (-66.3%), from €9,617 to €3,237
- Taxes +€696
up €696, from €0 to €696
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 | €800,209 | €810,570 | +€10,360 | +1.3% |
| Fixed assets | 21/28 | €413,308 | €346,981 | -€66,328 | -16.0% |
| Tangible fixed assets | 22/27 | €413,148 | €346,821 | -€66,328 | -16.1% |
| Land and buildings | 22 | €248,394 | €251,926 | +€3,532 | +1.4% |
| Plant, machinery and equipment | 23 | €164,754 | €94,895 | -€69,859 | -42.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €386,901 | €463,589 | +€76,688 | +19.8% |
| Stocks and contracts in progress | 3 | €7,707 | €9,083 | +€1,376 | +17.9% |
| Stocks | 30/36 | €7,707 | €9,083 | +€1,376 | +17.9% |
| Amounts receivable within one year | 40/41 | €6,246 | €71,800 | +€65,555 | +1,050% |
| Trade receivables | 40 | €1,271 | €0 | -€1,271 | -100% |
| Other amounts receivable | 41 | €4,975 | €71,800 | +€66,825 | +1,343% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €372,949 | €81,644 | -€291,305 | -78.1% |
| Deferred charges and accrued income | 490/1 | - | €1,062 | +€1,062 | |
| Total equity and liabilities | 10/49 | €800,209 | €810,570 | +€10,360 | +1.3% |
| Equity | 10/15 | €688,570 | €715,419 | +€26,849 | +3.9% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €658,876 | €665,841 | +€6,965 | +1.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €658,876 | €665,841 | +€6,965 | +1.1% |
| Profit (loss) carried forward | 14 | -€19,885 | €0 | +€19,885 | |
| Amounts payable | 17/49 | €111,639 | €95,150 | -€16,489 | -14.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €111,639 | €95,150 | -€16,489 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €15,833 | €0 | -€15,833 | -100% |
| Trade debts | 44 | €2,910 | €5,703 | +€2,793 | +96.0% |
| Suppliers | 440/4 | €2,910 | €5,703 | +€2,793 | +96.0% |
| Taxes, remuneration and social security | 45 | €667 | €667 | = | 0.0% |
| Taxes | 450/3 | €667 | €667 | = | 0.0% |
| Other amounts payable | 47/48 | €92,229 | €88,780 | -€3,449 | -3.7% |
| Non-recurring operating income | 76A | - | €139,120 | +€139,120 | |
| Remuneration, social security and pensions | 62 | €190 | €0 | -€190 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,046 | €32,391 | -€45,655 | -58.5% |
| Other operating charges | 640/8 | €9,617 | €3,237 | -€6,379 | -66.3% |
| Non-recurring operating charges | 66A | €1,693 | €4,503 | +€2,810 | +166% |
| Gross operating margin | 9900 | €60,101 | €67,253 | +€7,151 | +11.9% |
| Operating profit (loss) | 9901 | -€29,444 | €27,122 | +€56,566 | |
| Financial income | 75/76B | €10,453 | €1,087 | -€9,366 | -89.6% |
| Recurring financial income | 75 | €10,453 | €1,087 | -€9,366 | -89.6% |
| Financial charges | 65/66B | €893 | €662 | -€231 | -25.8% |
| Recurring financial charges | 65 | €893 | €662 | -€231 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | -€19,885 | €27,546 | +€47,430 | |
| Income taxes | 67/77 | €0 | €696 | +€696 | |
| Profit (loss) for the period | 9904 | -€19,885 | €26,849 | +€46,734 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,885 | €26,849 | +€46,734 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.