DR. GIESKENS: 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. GIESKENS
Largest movements
- Receivables within one year +€122,495
up €122,495 (+247%), from €49,650 to €172,145
- Tangible fixed assets +€17,577
up €17,577 (+6.3%), from €280,119 to €297,696
of which Furniture and vehicles: +€29,093
- Other debts +€191,228
up €191,228 (+989%), from €19,333 to €210,561
- Reserves -€88,809
down €88,809 (-12.1%), from €732,535 to €643,726
of which Distributable reserves: -€88,809
- Debts after one year +€19,796
new in 2025: €19,796
- Financial income -€7,521
down €7,521 (-74.1%), from €10,148 to €2,627
- Depreciation +€6,936
up €6,936 (+17.4%), from €39,873 to €46,808
- Gross operating margin -€5,118
down €5,118 (-2.4%), from €216,938 to €211,821
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 | €784,654 | €917,316 | +€132,662 | +16.9% |
| Fixed assets | 21/28 | €280,119 | €297,696 | +€17,577 | +6.3% |
| Tangible fixed assets | 22/27 | €280,119 | €297,696 | +€17,577 | +6.3% |
| Land and buildings | 22 | €219,324 | €211,671 | -€7,653 | -3.5% |
| Plant, machinery and equipment | 23 | €19,429 | €15,566 | -€3,863 | -19.9% |
| Furniture and vehicles | 24 | €41,366 | €70,459 | +€29,093 | +70.3% |
| Current assets | 29/58 | €504,535 | €619,620 | +€115,085 | +22.8% |
| Amounts receivable after more than one year | 29 | €8,433 | €3,833 | -€4,600 | -54.5% |
| Trade receivables | 290 | €8,433 | €0 | -€8,433 | -100% |
| Other amounts receivable | 291 | - | €3,833 | +€3,833 | |
| Amounts receivable within one year | 40/41 | €49,650 | €172,145 | +€122,495 | +247% |
| Other amounts receivable | 41 | €49,650 | €172,145 | +€122,495 | +247% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €394,247 | €391,201 | -€3,047 | -0.8% |
| Deferred charges and accrued income | 490/1 | €2,205 | €2,441 | +€237 | +10.7% |
| Total equity and liabilities | 10/49 | €784,654 | €917,316 | +€132,662 | +16.9% |
| Equity | 10/15 | €752,535 | €663,726 | -€88,809 | -11.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €732,535 | €643,726 | -€88,809 | -12.1% |
| Tax-exempt reserves | 132 | €6,290 | €6,290 | = | 0.0% |
| Distributable reserves | 133 | €726,245 | €637,437 | -€88,809 | -12.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,119 | €253,589 | +€221,471 | +690% |
| Amounts payable after more than one year | 17 | - | €19,796 | +€19,796 | |
| Financial debts | 170/4 | - | €19,796 | +€19,796 | |
| Amounts payable within one year | 42/48 | €32,119 | €233,793 | +€201,674 | +628% |
| Current portion of amounts payable after more than one year | 42 | - | €8,399 | +€8,399 | |
| Trade debts | 44 | €55 | €4,700 | +€4,645 | +8,446% |
| Suppliers | 440/4 | €55 | €4,700 | +€4,645 | +8,446% |
| Taxes, remuneration and social security | 45 | €12,731 | €10,133 | -€2,598 | -20.4% |
| Taxes | 450/3 | €12,731 | €10,133 | -€2,598 | -20.4% |
| Other amounts payable | 47/48 | €19,333 | €210,561 | +€191,228 | +989% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,873 | €46,808 | +€6,936 | +17.4% |
| Other operating charges | 640/8 | €1,540 | €1,115 | -€426 | -27.6% |
| Gross operating margin | 9900 | €216,938 | €211,821 | -€5,118 | -2.4% |
| Operating profit (loss) | 9901 | €175,525 | €163,898 | -€11,628 | -6.6% |
| Financial income | 75/76B | €10,148 | €2,627 | -€7,521 | -74.1% |
| Recurring financial income | 75 | €10,148 | €2,627 | -€7,521 | -74.1% |
| Financial charges | 65/66B | €2,316 | €2,354 | +€37 | +1.6% |
| Recurring financial charges | 65 | €2,316 | €2,354 | +€37 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €183,357 | €164,171 | -€19,185 | -10.5% |
| Income taxes | 67/77 | €52,139 | €50,133 | -€2,007 | -3.8% |
| Profit (loss) for the period | 9904 | €131,218 | €114,039 | -€17,179 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €131,218 | €114,039 | -€17,179 | -13.1% |
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.