ELS GEYSEN: 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.
ELS GEYSEN
Largest movements
- Deferred charges and accrued income +€8,876
up €8,876 (+502%), from €1,768 to €10,643
- Cash +€6,856
up €6,856 (+35.1%), from €19,511 to €26,367
mainly Net result for the year (+€13,703) and Tax, wage and social debts (+€3,516)
- Reserves +€13,703
up €13,703 (+8.5%), from €160,948 to €174,650
of which Distributable reserves: +€13,703
- Tax, wage and social debts +€3,516
up €3,516 (+57.9%), from €6,073 to €9,589
- Gross operating margin -€18,765
down €18,765 (-49.7%), from €37,768 to €19,003
- Taxes -€6,484
down €6,484 (-40.3%), from €16,073 to €9,589
- Financial income -€2,627
down €2,627 (-22.8%), from €11,502 to €8,875
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 | €182,230 | €197,393 | +€15,163 | +8.3% |
| Fixed assets | 21/28 | €2,029 | €1,086 | -€943 | -46.5% |
| Tangible fixed assets | 22/27 | €2,029 | €1,086 | -€943 | -46.5% |
| Furniture and vehicles | 24 | €2,029 | €1,086 | -€943 | -46.5% |
| Current assets | 29/58 | €180,201 | €196,307 | +€16,106 | +8.9% |
| Amounts receivable within one year | 40/41 | €158,921 | €159,297 | +€375 | +0.2% |
| Other amounts receivable | 41 | €158,921 | €159,297 | +€375 | +0.2% |
| Cash at bank and in hand | 54/58 | €19,511 | €26,367 | +€6,856 | +35.1% |
| Deferred charges and accrued income | 490/1 | €1,768 | €10,643 | +€8,876 | +502% |
| Total equity and liabilities | 10/49 | €182,230 | €197,393 | +€15,163 | +8.3% |
| Equity | 10/15 | €173,348 | €187,050 | +€13,703 | +7.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €160,948 | €174,650 | +€13,703 | +8.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €159,088 | €172,791 | +€13,703 | +8.6% |
| Amounts payable | 17/49 | €8,882 | €10,342 | +€1,460 | +16.4% |
| Amounts payable within one year | 42/48 | €8,411 | €10,018 | +€1,607 | +19.1% |
| Trade debts | 44 | €2,339 | €429 | -€1,910 | -81.7% |
| Suppliers | 440/4 | €2,339 | €429 | -€1,910 | -81.7% |
| Taxes, remuneration and social security | 45 | €6,073 | €9,589 | +€3,516 | +57.9% |
| Taxes | 450/3 | €6,073 | €9,589 | +€3,516 | +57.9% |
| Accrued charges and deferred income | 492/3 | €470 | €324 | -€146 | -31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,062 | €943 | -€119 | -11.2% |
| Other operating charges | 640/8 | €3,444 | €3,598 | +€154 | +4.5% |
| Gross operating margin | 9900 | €37,768 | €19,003 | -€18,765 | -49.7% |
| Operating profit (loss) | 9901 | €33,262 | €14,462 | -€18,800 | -56.5% |
| Financial income | 75/76B | €11,502 | €8,875 | -€2,627 | -22.8% |
| Recurring financial income | 75 | €11,502 | €8,875 | -€2,627 | -22.8% |
| Financial charges | 65/66B | €49 | €45 | -€4 | -7.2% |
| Recurring financial charges | 65 | €49 | €45 | -€4 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €44,716 | €23,292 | -€21,423 | -47.9% |
| Income taxes | 67/77 | €16,073 | €9,589 | -€6,484 | -40.3% |
| Profit (loss) for the period | 9904 | €28,643 | €13,703 | -€14,940 | -52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,643 | €13,703 | -€14,940 | -52.2% |
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 19 October 2026 via checked.be.