Dr. A. Geerts: 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.
Dr. A. Geerts
Largest movements
- Cash +€54,670
up €54,670 (+109%), from €50,048 to €104,718
mainly Net result for the year (+€60,646) and Other debts (+€57,596)
- Receivables within one year -€12,411
down €12,411 (-66.3%), from €18,717 to €6,306
of which Trade receivables: -€8,275
- Other debts +€57,596
up €57,596 (+139%), from €41,309 to €98,905
- Reserves -€17,449
down €17,449 (-100%), from €17,449 to €0
- Tax, wage and social debts +€6,492
up €6,492 (+244%), from €2,660 to €9,152
of which Taxes: +€6,492
- Accrued charges and deferred income -€2,236
down €2,236 (-100%), from €2,236 to €0
- Trade debts -€1,768
down €1,768 (-30.2%), from €5,862 to €4,094
- Gross operating margin +€51,634
up €51,634 (+191%), from €27,067 to €78,702
- Taxes +€10,451
up €10,451 (+172%), from €6,092 to €16,542
- Financial charges -€1,292
down €1,292 (-75.8%), from €1,706 to €413
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 | €74,516 | €117,152 | +€42,636 | +57.2% |
| Fixed assets | 21/28 | €1,419 | €846 | -€573 | -40.4% |
| Tangible fixed assets | 22/27 | €1,419 | €846 | -€573 | -40.4% |
| Furniture and vehicles | 24 | €1,419 | €846 | -€573 | -40.4% |
| Current assets | 29/58 | €73,097 | €116,305 | +€43,209 | +59.1% |
| Amounts receivable within one year | 40/41 | €18,717 | €6,306 | -€12,411 | -66.3% |
| Trade receivables | 40 | €8,996 | €721 | -€8,275 | -92.0% |
| Other amounts receivable | 41 | €9,721 | €5,585 | -€4,136 | -42.5% |
| Cash at bank and in hand | 54/58 | €50,048 | €104,718 | +€54,670 | +109% |
| Deferred charges and accrued income | 490/1 | €4,332 | €5,282 | +€950 | +21.9% |
| Total equity and liabilities | 10/49 | €74,516 | €117,152 | +€42,636 | +57.2% |
| Equity | 10/15 | €22,449 | €5,000 | -€17,449 | -77.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,449 | €0 | -€17,449 | -100% |
| Distributable reserves | 133 | €17,449 | €0 | -€17,449 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,067 | €112,152 | +€60,085 | +115% |
| Amounts payable within one year | 42/48 | €49,831 | €112,152 | +€62,321 | +125% |
| Trade debts | 44 | €5,862 | €4,094 | -€1,768 | -30.2% |
| Suppliers | 440/4 | €5,862 | €4,094 | -€1,768 | -30.2% |
| Taxes, remuneration and social security | 45 | €2,660 | €9,152 | +€6,492 | +244% |
| Taxes | 450/3 | €0 | €6,492 | +€6,492 | |
| Remuneration and social security | 454/9 | €2,660 | €2,660 | = | 0.0% |
| Other amounts payable | 47/48 | €41,309 | €98,905 | +€57,596 | +139% |
| Accrued charges and deferred income | 492/3 | €2,236 | €0 | -€2,236 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299 | €573 | +€274 | +91.6% |
| Other operating charges | 640/8 | €663 | €528 | -€136 | -20.4% |
| Gross operating margin | 9900 | €27,067 | €78,702 | +€51,634 | +191% |
| Operating profit (loss) | 9901 | €26,105 | €77,601 | +€51,496 | +197% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,706 | €413 | -€1,292 | -75.8% |
| Recurring financial charges | 65 | €1,706 | €413 | -€1,292 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €24,400 | €77,188 | +€52,788 | +216% |
| Income taxes | 67/77 | €6,092 | €16,542 | +€10,451 | +172% |
| Profit (loss) for the period | 9904 | €18,308 | €60,646 | +€42,338 | +231% |
| Profit (loss) for the period to be appropriated | 9905 | €18,308 | €60,646 | +€42,338 | +231% |
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 27 October 2026 via checked.be.