Dr. Geertrui Cools: 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. Geertrui Cools
Largest movements
- Receivables within one year -€606,000
down €606,000 (-71.3%), from €850,000 to €244,000
- Receivables after one year +€364,000
new in 2025: €364,000
- Cash +€16,207
up €16,207 (+22.5%), from €72,008 to €88,215
mainly Receivables within one year (+€606,000) and Net result for the year (+€183,060)
- Reserves -€235,163
down €235,163 (-25.4%), from €925,545 to €690,382
- Tax, wage and social debts +€13,061
up €13,061 (+59.8%), from €21,823 to €34,883
- Financial income -€7,234
down €7,234 (-18.4%), from €39,405 to €32,171
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 | €992,243 | €773,177 | -€219,066 | -22.1% |
| Fixed assets | 21/28 | €28,703 | €34,921 | +€6,218 | +21.7% |
| Tangible fixed assets | 22/27 | €18,603 | €24,821 | +€6,218 | +33.4% |
| Furniture and vehicles | 24 | €18,603 | €24,821 | +€6,218 | +33.4% |
| Financial fixed assets | 28 | €10,100 | €10,100 | = | 0.0% |
| Current assets | 29/58 | €963,540 | €738,257 | -€225,283 | -23.4% |
| Amounts receivable after more than one year | 29 | - | €364,000 | +€364,000 | |
| Other amounts receivable | 291 | - | €364,000 | +€364,000 | |
| Amounts receivable within one year | 40/41 | €850,000 | €244,000 | -€606,000 | -71.3% |
| Other amounts receivable | 41 | €850,000 | €244,000 | -€606,000 | -71.3% |
| Cash at bank and in hand | 54/58 | €72,008 | €88,215 | +€16,207 | +22.5% |
| Deferred charges and accrued income | 490/1 | €41,532 | €42,042 | +€510 | +1.2% |
| Total equity and liabilities | 10/49 | €992,243 | €773,177 | -€219,066 | -22.1% |
| Equity | 10/15 | €939,805 | €704,642 | -€235,163 | -25.0% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €925,545 | €690,382 | -€235,163 | -25.4% |
| Distributable reserves | 133 | €925,545 | €690,382 | -€235,163 | -25.4% |
| Amounts payable | 17/49 | €52,438 | €68,536 | +€16,098 | +30.7% |
| Amounts payable within one year | 42/48 | €52,438 | €68,536 | +€16,098 | +30.7% |
| Financial debts | 43 | €23,956 | €17,848 | -€6,108 | -25.5% |
| Credit institutions | 430/8 | €23,956 | €17,848 | -€6,108 | -25.5% |
| Trade debts | 44 | €5,888 | €14,192 | +€8,304 | +141% |
| Suppliers | 440/4 | €5,888 | €14,192 | +€8,304 | +141% |
| Taxes, remuneration and social security | 45 | €21,823 | €34,883 | +€13,061 | +59.8% |
| Taxes | 450/3 | €21,823 | €34,883 | +€13,061 | +59.8% |
| Other amounts payable | 47/48 | €772 | €1,613 | +€841 | +109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,702 | €5,270 | +€1,568 | +42.4% |
| Other operating charges | 640/8 | €603 | €631 | +€28 | +4.6% |
| Non-recurring operating charges | 66A | - | €1,788 | +€1,788 | |
| Gross operating margin | 9900 | €241,202 | €243,287 | +€2,085 | +0.9% |
| Operating profit (loss) | 9901 | €236,898 | €235,598 | -€1,300 | -0.5% |
| Financial income | 75/76B | €39,405 | €32,171 | -€7,234 | -18.4% |
| Recurring financial income | 75 | €39,405 | €32,171 | -€7,234 | -18.4% |
| Financial charges | 65/66B | €2,011 | €1,522 | -€488 | -24.3% |
| Recurring financial charges | 65 | €2,011 | €1,522 | -€488 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €274,292 | €266,247 | -€8,045 | -2.9% |
| Income taxes | 67/77 | €85,505 | €83,187 | -€2,318 | -2.7% |
| Profit (loss) for the period | 9904 | €188,787 | €183,060 | -€5,727 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €188,787 | €183,060 | -€5,727 | -3.0% |
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 26 October 2026 via checked.be.