Floreal-Germinal: 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.
Floreal-Germinal
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+5.4%), from €20.7m to €21.9m
of which Assets under construction and advance payments: +€1.3m
- Stocks and contracts -€416,912
down €416,912 (-93.8%), from €444,518 to €27,606
- Cash -€394,456
down €394,456 (-77.5%), from €508,892 to €114,436
mainly Debts within one year (-€33.8m) and Investment in fixed assets (net) (-€2.1m)
- Debts after one year +€33.9m
up €33.9m (+2,669%), from €1.3m to €35.2m
- Debts within one year -€33.8m
down €33.8m (-97.7%), from €34.6m to €791,938
- Profit (loss) carried forward +€415,298
up €415,298 (+28.2%), from €1.5m to €1.9m
- Gross operating margin +€343,244
up €343,244 (+15.9%), from €2.2m to €2.5m
- Staff costs -€79,382
down €79,382 (-14.7%), from €539,153 to €459,771
- Other operating charges -€54,003
down €54,003 (-6.5%), from €833,520 to €779,517
- Financial income -€30,581
down €30,581 (-10.1%), from €304,043 to €273,462
of which Financial income: -€56,314
- Depreciation +€28,919
up €28,919 (+2.8%), from €1.0m to €1.1m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,334,760 | €38,961,343 | +€626,583 | +1.6% |
| Fixed assets | 21/28 | €27,230,097 | €28,285,185 | +€1.1m | +3.9% |
| Tangible fixed assets | 22/27 | €20,736,317 | €21,855,469 | +€1.1m | +5.4% |
| Land and buildings | 22 | €20,381,636 | €20,100,880 | -€280,756 | -1.4% |
| Plant, machinery and equipment | 23 | €96,585 | €80,593 | -€15,992 | -16.6% |
| Furniture and vehicles | 24 | €127,540 | €259,128 | +€131,588 | +103% |
| Other tangible fixed assets | 26 | €10,749 | €9,214 | -€1,535 | -14.3% |
| Assets under construction and advance payments | 27 | €119,807 | €1,405,654 | +€1.3m | +1,073% |
| Financial fixed assets | 28 | €6,493,780 | €6,429,716 | -€64,064 | -1.0% |
| Current assets | 29/58 | €11,104,663 | €10,676,158 | -€428,505 | -3.9% |
| Amounts receivable after more than one year | 29 | €6,662,682 | €6,662,682 | = | 0.0% |
| Other amounts receivable | 291 | €6,662,682 | €6,662,682 | = | 0.0% |
| Stocks and contracts in progress | 3 | €444,518 | €27,606 | -€416,912 | -93.8% |
| Stocks | 30/36 | €444,518 | €27,606 | -€416,912 | -93.8% |
| Amounts receivable within one year | 40/41 | €3,387,473 | €3,768,200 | +€380,727 | +11.2% |
| Trade receivables | 40 | €2,989,191 | €3,741,461 | +€752,270 | +25.2% |
| Other amounts receivable | 41 | €398,282 | €26,739 | -€371,543 | -93.3% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €508,892 | €114,436 | -€394,456 | -77.5% |
| Deferred charges and accrued income | 490/1 | €76,098 | €78,234 | +€2,136 | +2.8% |
| Total equity and liabilities | 10/49 | €38,334,760 | €38,961,343 | +€626,583 | +1.6% |
| Profit (loss) carried forward | 14 | €1,472,371 | €1,887,669 | +€415,298 | +28.2% |
| Investment grants | 15 | €993,298 | €875,197 | -€118,101 | -11.9% |
| Amounts payable | 17/49 | €35,869,091 | €36,198,477 | +€329,386 | +0.9% |
| Amounts payable after more than one year | 17 | €1,270,648 | €35,182,030 | +€33.9m | +2,669% |
| Other amounts payable | 178/9 | €1,270,648 | €35,182,030 | +€33.9m | +2,669% |
| Amounts payable within one year | 42/48 | €34,591,133 | €791,938 | -€33.8m | -97.7% |
| Trade debts | 44 | €1,269,781 | €370,101 | -€899,680 | -70.9% |
| Suppliers | 440/4 | €1,269,781 | €370,101 | -€899,680 | -70.9% |
| Taxes, remuneration and social security | 45 | €409,910 | €421,779 | +€11,869 | +2.9% |
| Taxes | 450/3 | €328,129 | €365,757 | +€37,628 | +11.5% |
| Remuneration and social security | 454/9 | €81,781 | €56,022 | -€25,759 | -31.5% |
| Accrued charges and deferred income | 492/3 | €7,310 | €224,509 | +€217,199 | +2,971% |
| Non-recurring operating income | 76A | - | €539,696 | +€539,696 | |
| Remuneration, social security and pensions | 62 | €539,153 | €459,771 | -€79,382 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,039,088 | €1,068,007 | +€28,919 | +2.8% |
| Other operating charges | 640/8 | €833,520 | €779,517 | -€54,003 | -6.5% |
| Non-recurring operating charges | 66A | €35,897 | €57,012 | +€21,115 | +58.8% |
| Gross operating margin | 9900 | €2,163,134 | €2,506,378 | +€343,244 | +15.9% |
| Operating profit (loss) | 9901 | -€284,524 | €142,071 | +€426,595 | |
| Financial income | 75/76B | €304,043 | €273,462 | -€30,581 | -10.1% |
| Recurring financial income | 75 | €304,043 | €247,729 | -€56,314 | -18.5% |
| Non-recurring financial income | 76B | - | €25,733 | +€25,733 | |
| Financial charges | 65/66B | €167 | €236 | +€69 | +41.3% |
| Recurring financial charges | 65 | €167 | €236 | +€69 | +41.3% |
| Profit (loss) for the period before taxes | 9903 | €19,352 | €415,297 | +€395,945 | +2,046% |
| Profit (loss) for the period | 9904 | €19,352 | €415,297 | +€395,945 | +2,046% |
| Profit (loss) for the period to be appropriated | 9905 | €19,352 | €415,297 | +€395,945 | +2,046% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.