DR HELENE GEORGERY: 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 HELENE GEORGERY
Largest movements
- Receivables within one year +€25,939
new in 2025: €25,939
- Deferred charges and accrued income +€7,588
up €7,588 (+20.6%), from €36,920 to €44,508
- Cash +€6,148
up €6,148 (+19.1%), from €32,167 to €38,315
mainly Net result for the year (+€40,974) and Depreciation (+€3,902)
- Tangible fixed assets -€2,569
down €2,569 (-36.6%), from €7,028 to €4,459
of which Furniture and vehicles: -€3,667
- Profit (loss) carried forward +€40,974
up €40,974 (+60.4%), from €67,857 to €108,831
- Other debts -€3,519
no longer reported in 2025 (was €3,519)
- Gross operating margin -€34,168
down €34,168 (-37.8%), from €90,461 to €56,293
- Taxes -€6,739
down €6,739 (-37.4%), from €18,033 to €11,294
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 | €76,206 | €113,312 | +€37,106 | +48.7% |
| Fixed assets | 21/28 | €7,119 | €4,550 | -€2,569 | -36.1% |
| Tangible fixed assets | 22/27 | €7,028 | €4,459 | -€2,569 | -36.6% |
| Plant, machinery and equipment | 23 | - | €1,097 | +€1,097 | |
| Furniture and vehicles | 24 | €7,028 | €3,361 | -€3,667 | -52.2% |
| Financial fixed assets | 28 | €92 | €92 | = | 0.0% |
| Current assets | 29/58 | €69,087 | €108,761 | +€39,675 | +57.4% |
| Amounts receivable within one year | 40/41 | - | €25,939 | +€25,939 | |
| Other amounts receivable | 41 | - | €25,939 | +€25,939 | |
| Cash at bank and in hand | 54/58 | €32,167 | €38,315 | +€6,148 | +19.1% |
| Deferred charges and accrued income | 490/1 | €36,920 | €44,508 | +€7,588 | +20.6% |
| Total equity and liabilities | 10/49 | €76,206 | €113,312 | +€37,106 | +48.7% |
| Equity | 10/15 | €70,857 | €111,831 | +€40,974 | +57.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,857 | €108,831 | +€40,974 | +60.4% |
| Amounts payable | 17/49 | €5,349 | €1,481 | -€3,869 | -72.3% |
| Amounts payable within one year | 42/48 | €5,349 | €1,481 | -€3,869 | -72.3% |
| Trade debts | 44 | €1,796 | €1,481 | -€316 | -17.6% |
| Suppliers | 440/4 | €1,796 | €1,481 | -€316 | -17.6% |
| Taxes, remuneration and social security | 45 | €33 | - | -€33 | |
| Taxes | 450/3 | €33 | - | -€33 | |
| Other amounts payable | 47/48 | €3,519 | - | -€3,519 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,972 | €3,902 | -€70 | -1.8% |
| Other operating charges | 640/8 | €337 | €279 | -€57 | -17.1% |
| Gross operating margin | 9900 | €90,461 | €56,293 | -€34,168 | -37.8% |
| Operating profit (loss) | 9901 | €86,152 | €52,111 | -€34,041 | -39.5% |
| Financial income | 75/76B | - | €426 | +€426 | |
| Recurring financial income | 75 | - | €426 | +€426 | |
| Financial charges | 65/66B | €261 | €268 | +€7 | +2.6% |
| Recurring financial charges | 65 | €261 | €268 | +€7 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €85,890 | €52,269 | -€33,622 | -39.1% |
| Income taxes | 67/77 | €18,033 | €11,294 | -€6,739 | -37.4% |
| Profit (loss) for the period | 9904 | €67,857 | €40,974 | -€26,883 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,857 | €40,974 | -€26,883 | -39.6% |
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 28 October 2026 via checked.be.