DR. GENNÉ: 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. GENNÉ
Largest movements
- Current investments +€100,003
up €100,003, from €0 to €100,003
- Cash -€70,896
down €70,896 (-27.4%), from €259,216 to €188,320
mainly Current investments (-€100,003) and Other debts (-€39,058)
- Deferred charges and accrued income +€29,839
up €29,839 (+1,464%), from €2,038 to €31,877
- Tangible fixed assets -€9,432
down €9,432 (-4.7%), from €201,800 to €192,368
of which Furniture and vehicles: -€14,438
- Receivables within one year +€7,235
up €7,235 (+8.7%), from €83,515 to €90,750
of which Other amounts receivable: +€5,094
- Reserves +€121,270
up €121,270 (+33.7%), from €359,757 to €481,027
- Other debts -€39,058
down €39,058 (-100%), from €39,058 to €0
- Debts after one year -€14,599
down €14,599 (-19.4%), from €75,428 to €60,829
- Trade debts -€7,539
down €7,539 (-78.6%), from €9,587 to €2,048
- Taxes +€35,508
up €35,508 (+119%), from €29,791 to €65,300
- Gross operating margin +€32,537
up €32,537 (+16.9%), from €192,032 to €224,570
- Financial charges -€3,451
down €3,451 (-46.0%), from €7,506 to €4,055
- Depreciation +€2,530
up €2,530 (+8.4%), from €29,958 to €32,488
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 | €546,569 | €603,317 | +€56,748 | +10.4% |
| Fixed assets | 21/28 | €201,800 | €192,368 | -€9,432 | -4.7% |
| Tangible fixed assets | 22/27 | €201,800 | €192,368 | -€9,432 | -4.7% |
| Land and buildings | 22 | €142,672 | €141,139 | -€1,533 | -1.1% |
| Plant, machinery and equipment | 23 | €1,018 | €7,557 | +€6,539 | +642% |
| Furniture and vehicles | 24 | €58,110 | €43,672 | -€14,438 | -24.8% |
| Current assets | 29/58 | €344,769 | €410,950 | +€66,180 | +19.2% |
| Amounts receivable within one year | 40/41 | €83,515 | €90,750 | +€7,235 | +8.7% |
| Trade receivables | 40 | €2,218 | €4,358 | +€2,141 | +96.5% |
| Other amounts receivable | 41 | €81,298 | €86,392 | +€5,094 | +6.3% |
| Current investments | 50/53 | €0 | €100,003 | +€100,003 | |
| Cash at bank and in hand | 54/58 | €259,216 | €188,320 | -€70,896 | -27.4% |
| Deferred charges and accrued income | 490/1 | €2,038 | €31,877 | +€29,839 | +1,464% |
| Total equity and liabilities | 10/49 | €546,569 | €603,317 | +€56,748 | +10.4% |
| Equity | 10/15 | €378,357 | €499,627 | +€121,270 | +32.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €359,757 | €481,027 | +€121,270 | +33.7% |
| Distributable reserves | 133 | €359,757 | €481,027 | +€121,270 | +33.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €168,213 | €103,691 | -€64,522 | -38.4% |
| Amounts payable after more than one year | 17 | €75,428 | €60,829 | -€14,599 | -19.4% |
| Financial debts | 170/4 | €75,428 | €60,829 | -€14,599 | -19.4% |
| Amounts payable within one year | 42/48 | €92,785 | €42,862 | -€49,923 | -53.8% |
| Current portion of amounts payable after more than one year | 42 | €14,599 | €14,599 | = | 0.0% |
| Financial debts | 43 | €3,217 | €2,947 | -€270 | -8.4% |
| Credit institutions | 430/8 | €3,217 | €2,947 | -€270 | -8.4% |
| Trade debts | 44 | €9,587 | €2,048 | -€7,539 | -78.6% |
| Suppliers | 440/4 | €9,587 | €2,048 | -€7,539 | -78.6% |
| Taxes, remuneration and social security | 45 | €26,324 | €23,269 | -€3,056 | -11.6% |
| Taxes | 450/3 | €26,324 | €20,769 | -€5,556 | -21.1% |
| Remuneration and social security | 454/9 | €0 | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €39,058 | €0 | -€39,058 | -100% |
| Non-recurring operating income | 76A | - | €119 | +€119 | |
| Remuneration, social security and pensions | 62 | €0 | €1,333 | +€1,333 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,958 | €32,488 | +€2,530 | +8.4% |
| Other operating charges | 640/8 | €2,700 | €1,824 | -€876 | -32.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €192,032 | €224,570 | +€32,537 | +16.9% |
| Operating profit (loss) | 9901 | €159,374 | €188,925 | +€29,551 | +18.5% |
| Financial income | 75/76B | €2,860 | €1,700 | -€1,160 | -40.6% |
| Recurring financial income | 75 | €2,860 | €1,700 | -€1,160 | -40.6% |
| Financial charges | 65/66B | €7,506 | €4,055 | -€3,451 | -46.0% |
| Recurring financial charges | 65 | €7,506 | €4,055 | -€3,451 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €154,729 | €186,570 | +€31,841 | +20.6% |
| Income taxes | 67/77 | €29,791 | €65,300 | +€35,508 | +119% |
| Profit (loss) for the period | 9904 | €124,937 | €121,270 | -€3,667 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €124,937 | €121,270 | -€3,667 | -2.9% |
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.