Dr. GERNAEY EVY: 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. GERNAEY EVY
Largest movements
- Cash -€34,528
down €34,528 (-66.2%), from €52,188 to €17,660
mainly Investment in fixed assets (net) (-€26,353) and Debts after one year (-€19,673)
- Tangible fixed assets +€22,442
up €22,442 (+29.5%), from €76,117 to €98,559
of which Land and buildings: +€22,831
- Deferred charges and accrued income +€12,429
up €12,429 (+2,859%), from €435 to €12,864
- Receivables within one year -€10,118
down €10,118 (-100%), from €10,118 to €0
of which Trade receivables: -€10,118
- Debts after one year -€19,673
down €19,673 (-24.8%), from €79,354 to €59,680
of which Other amounts payable: -€13,655
- Reserves +€14,735
up €14,735 (+16.5%), from €89,447 to €104,182
of which Distributable reserves: +€14,735
- Contributions -€7,000
down €7,000 (-60.3%), from €11,600 to €4,600
- Trade debts +€2,606
up €2,606 (+577%), from €452 to €3,058
- Gross operating margin -€2,294
down €2,294 (-5.2%), from €43,827 to €41,532
- Financial charges -€1,578
down €1,578 (-35.6%), from €4,437 to €2,859
- Depreciation +€1,356
up €1,356 (+53.1%), from €2,555 to €3,911
- Taxes -€831
down €831 (-7.9%), from €10,498 to €9,667
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 | €194,581 | €184,213 | -€10,368 | -5.3% |
| Fixed assets | 21/28 | €104,376 | €126,818 | +€22,442 | +21.5% |
| Tangible fixed assets | 22/27 | €76,117 | €98,559 | +€22,442 | +29.5% |
| Land and buildings | 22 | €75,317 | €98,149 | +€22,831 | +30.3% |
| Furniture and vehicles | 24 | €800 | €410 | -€390 | -48.7% |
| Financial fixed assets | 28 | €28,259 | €28,259 | = | 0.0% |
| Current assets | 29/58 | €90,205 | €57,395 | -€32,809 | -36.4% |
| Amounts receivable after more than one year | 29 | €27,464 | €26,872 | -€593 | -2.2% |
| Other amounts receivable | 291 | €27,464 | €26,872 | -€593 | -2.2% |
| Amounts receivable within one year | 40/41 | €10,118 | €0 | -€10,118 | -100% |
| Trade receivables | 40 | €10,118 | €0 | -€10,118 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €52,188 | €17,660 | -€34,528 | -66.2% |
| Deferred charges and accrued income | 490/1 | €435 | €12,864 | +€12,429 | +2,859% |
| Total equity and liabilities | 10/49 | €194,581 | €184,213 | -€10,368 | -5.3% |
| Equity | 10/15 | €101,047 | €108,782 | +€7,735 | +7.7% |
| Contributions | 10/11 | €11,600 | €4,600 | -€7,000 | -60.3% |
| Reserves | 13 | €89,447 | €104,182 | +€14,735 | +16.5% |
| Tax-exempt reserves | 132 | €4,125 | €4,125 | = | 0.0% |
| Distributable reserves | 133 | €85,322 | €100,057 | +€14,735 | +17.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,534 | €75,431 | -€18,103 | -19.4% |
| Amounts payable after more than one year | 17 | €79,354 | €59,680 | -€19,673 | -24.8% |
| Financial debts | 170/4 | €49,665 | €43,647 | -€6,018 | -12.1% |
| Other amounts payable | 178/9 | €29,689 | €16,034 | -€13,655 | -46.0% |
| Amounts payable within one year | 42/48 | €11,992 | €14,825 | +€2,833 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €6,604 | €6,018 | -€586 | -8.9% |
| Trade debts | 44 | €452 | €3,058 | +€2,606 | +577% |
| Suppliers | 440/4 | €452 | €3,058 | +€2,606 | +577% |
| Taxes, remuneration and social security | 45 | €4,936 | €5,749 | +€813 | +16.5% |
| Taxes | 450/3 | €4,936 | €5,749 | +€813 | +16.5% |
| Accrued charges and deferred income | 492/3 | €2,188 | €926 | -€1,263 | -57.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,555 | €3,911 | +€1,356 | +53.1% |
| Other operating charges | 640/8 | €1,028 | €923 | -€105 | -10.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €43,827 | €41,532 | -€2,294 | -5.2% |
| Operating profit (loss) | 9901 | €40,243 | €36,698 | -€3,545 | -8.8% |
| Financial income | 75/76B | €207 | €362 | +€154 | +74.5% |
| Recurring financial income | 75 | €207 | €362 | +€154 | +74.5% |
| Financial charges | 65/66B | €4,437 | €2,859 | -€1,578 | -35.6% |
| Recurring financial charges | 65 | €4,437 | €2,859 | -€1,578 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €36,014 | €34,201 | -€1,813 | -5.0% |
| Income taxes | 67/77 | €10,498 | €9,667 | -€831 | -7.9% |
| Profit (loss) for the period | 9904 | €25,516 | €24,534 | -€983 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,516 | €24,534 | -€983 | -3.9% |
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 27 October 2026 via checked.be.