DR. GEVERS: what changed
Two fiscal 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. GEVERS
Largest movements
- Receivables within one year +€173,413
up €173,413 (+557.0%), from €31,135 to €204,548
of which Other amounts receivable: +€173,142
- Tangible fixed assets -€62,600
down €62,600 (-24.8%), from €252,877 to €190,277
of which Land and buildings: -€38,021
- Current investments -€55,800
down €55,800 (-14.9%), from €375,163 to €319,363
- Cash -€22,885
down €22,885 (-14.8%), from €154,709 to €131,824
mainly Contributions, distributions and other (-€216,812) and Receivables within one year (-€173,413)
- Other debts +€160,688
up €160,688 (+364.6%), from €44,072 to €204,760
- Reserves -€127,675
down €127,675 (-23.7%), from €537,673 to €409,998
of which Distributable reserves: -€127,675
- Debts after one year -€31,275
down €31,275 (-18.5%), from €168,929 to €137,654
of which Financial debts: -€31,275
- Trade debts +€16,686
new in 2025: €16,686
- Accrued charges and deferred income +€9,746
up €9,746 (+420.1%), from €2,320 to €12,065
- Gross operating margin -€32,972
down €32,972 (-15.5%), from €212,777 to €179,806
- Financial income +€7,500
up €7,500 (+136.0%), from €5,515 to €13,015
of which Financial income: +€7,500
- Taxes -€6,523
down €6,523 (-14.1%), from €46,106 to €39,584
- Financial charges +€6,010
up €6,010 (+86.3%), from €6,967 to €12,977
- Depreciation +€5,017
up €5,017 (+11.2%), from €44,675 to €49,693
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.
Cash bridge derived
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 | €823,952 | €850,556 | +€26,603 | +3.2% |
| Fixed assets | 21/28 | €252,877 | €190,277 | -€62,600 | -24.8% |
| Tangible fixed assets | 22/27 | €252,877 | €190,277 | -€62,600 | -24.8% |
| Land and buildings | 22 | €96,301 | €58,280 | -€38,021 | -39.5% |
| Plant, machinery and equipment | 23 | €34,901 | €27,403 | -€7,498 | -21.5% |
| Furniture and vehicles | 24 | €121,675 | €104,594 | -€17,082 | -14.0% |
| Current assets | 29/58 | €571,075 | €660,279 | +€89,204 | +15.6% |
| Amounts receivable within one year | 40/41 | €31,135 | €204,548 | +€173,413 | +557.0% |
| Trade receivables | 40 | €4,633 | €4,905 | +€271 | +5.9% |
| Other amounts receivable | 41 | €26,502 | €199,643 | +€173,142 | +653.3% |
| Current investments | 50/53 | €375,163 | €319,363 | -€55,800 | -14.9% |
| Cash at bank and in hand | 54/58 | €154,709 | €131,824 | -€22,885 | -14.8% |
| Deferred charges and accrued income | 490/1 | €10,068 | €4,544 | -€5,524 | -54.9% |
| Total equity and liabilities | 10/49 | €823,952 | €850,556 | +€26,603 | +3.2% |
| Equity | 10/15 | €564,777 | €437,102 | -€127,675 | -22.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €537,673 | €409,998 | -€127,675 | -23.7% |
| Tax-exempt reserves | 132 | €5,795 | €5,795 | = | 0.0% |
| Distributable reserves | 133 | €531,879 | €404,204 | -€127,675 | -24.0% |
| Profit (loss) carried forward | 14 | €7,104 | €7,104 | = | 0.0% |
| Amounts payable | 17/49 | €259,175 | €413,454 | +€154,279 | +59.5% |
| Amounts payable after more than one year | 17 | €168,929 | €137,654 | -€31,275 | -18.5% |
| Financial debts | 170/4 | €167,879 | €136,604 | -€31,275 | -18.6% |
| Other amounts payable | 178/9 | €1,050 | €1,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €87,927 | €263,735 | +€175,808 | +199.9% |
| Current portion of amounts payable after more than one year | 42 | €30,097 | €31,275 | +€1,178 | +3.9% |
| Trade debts | 44 | - | €16,686 | +€16,686 | |
| Suppliers | 440/4 | - | €16,686 | +€16,686 | |
| Taxes, remuneration and social security | 45 | €13,757 | €11,014 | -€2,744 | -19.9% |
| Taxes | 450/3 | €13,757 | €11,014 | -€2,744 | -19.9% |
| Other amounts payable | 47/48 | €44,072 | €204,760 | +€160,688 | +364.6% |
| Accrued charges and deferred income | 492/3 | €2,320 | €12,065 | +€9,746 | +420.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,675 | €49,693 | +€5,017 | +11.2% |
| Other operating charges | 640/8 | €2,522 | €1,429 | -€1,093 | -43.3% |
| Non-recurring operating charges | 66A | €1,447 | €0 | -€1,447 | -100.0% |
| Gross operating margin | 9900 | €212,777 | €179,806 | -€32,972 | -15.5% |
| Operating profit (loss) | 9901 | €164,133 | €128,684 | -€35,449 | -21.6% |
| Financial income | 75/76B | €5,515 | €13,015 | +€7,500 | +136.0% |
| Recurring financial income | 75 | €5,515 | €13,015 | +€7,500 | +136.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €6,967 | €12,977 | +€6,010 | +86.3% |
| Recurring financial charges | 65 | €6,967 | €12,977 | +€6,010 | +86.3% |
| Profit (loss) for the period before taxes | 9903 | €162,680 | €128,721 | -€33,959 | -20.9% |
| Income taxes | 67/77 | €46,106 | €39,584 | -€6,523 | -14.1% |
| Profit (loss) for the period | 9904 | €116,573 | €89,137 | -€27,436 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €116,573 | €89,137 | -€27,436 | -23.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.