François Georges.org: 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.
François Georges.org
Largest movements
- Cash +€91,966
up €91,966 (+26.3%), from €349,554 to €441,521
mainly Net result for the year (+€164,155) and Receivables within one year (+€60,741)
- Receivables within one year -€60,741
down €60,741 (-74.3%), from €81,803 to €21,063
- Deferred charges and accrued income +€9,666
up €9,666 (+9.9%), from €97,677 to €107,343
- Reserves +€45,650
up €45,650 (+8.7%), from €524,410 to €570,060
of which Distributable reserves: +€45,650
- Tax, wage and social debts -€7,873
no longer reported in 2025 (was €7,873)
- Gross operating margin +€38,421
up €38,421 (+19.2%), from €200,011 to €238,432
- Taxes +€12,228
up €12,228 (+20.4%), from €59,873 to €72,101
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 | €548,391 | €586,193 | +€37,802 | +6.9% |
| Fixed assets | 21/28 | €19,357 | €16,267 | -€3,090 | -16.0% |
| Tangible fixed assets | 22/27 | €19,357 | €16,267 | -€3,090 | -16.0% |
| Land and buildings | 22 | €12,706 | €10,904 | -€1,803 | -14.2% |
| Plant, machinery and equipment | 23 | €4,180 | €2,893 | -€1,287 | -30.8% |
| Furniture and vehicles | 24 | €2,470 | €2,470 | = | 0.0% |
| Current assets | 29/58 | €529,034 | €569,926 | +€40,892 | +7.7% |
| Amounts receivable within one year | 40/41 | €81,803 | €21,063 | -€60,741 | -74.3% |
| Other amounts receivable | 41 | €81,803 | €21,063 | -€60,741 | -74.3% |
| Cash at bank and in hand | 54/58 | €349,554 | €441,521 | +€91,966 | +26.3% |
| Deferred charges and accrued income | 490/1 | €97,677 | €107,343 | +€9,666 | +9.9% |
| Total equity and liabilities | 10/49 | €548,391 | €586,193 | +€37,802 | +6.9% |
| Equity | 10/15 | €539,650 | €585,306 | +€45,655 | +8.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €524,410 | €570,060 | +€45,650 | +8.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €522,550 | €568,200 | +€45,650 | +8.7% |
| Profit (loss) carried forward | 14 | €2,840 | €2,846 | +€5 | +0.2% |
| Amounts payable | 17/49 | €8,741 | €887 | -€7,853 | -89.8% |
| Amounts payable within one year | 42/48 | €8,741 | €887 | -€7,853 | -89.8% |
| Trade debts | 44 | €867 | €887 | +€20 | +2.3% |
| Suppliers | 440/4 | €867 | €887 | +€20 | +2.3% |
| Taxes, remuneration and social security | 45 | €7,873 | - | -€7,873 | |
| Taxes | 450/3 | €7,873 | - | -€7,873 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,252 | €4,019 | +€767 | +23.6% |
| Other operating charges | 640/8 | €737 | €696 | -€42 | -5.7% |
| Gross operating margin | 9900 | €200,011 | €238,432 | +€38,421 | +19.2% |
| Operating profit (loss) | 9901 | €196,022 | €233,718 | +€37,695 | +19.2% |
| Financial income | 75/76B | €2,273 | €2,741 | +€468 | +20.6% |
| Recurring financial income | 75 | €2,273 | €2,741 | +€468 | +20.6% |
| Financial charges | 65/66B | €168 | €202 | +€35 | +20.7% |
| Recurring financial charges | 65 | €168 | €202 | +€35 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | €198,128 | €236,256 | +€38,128 | +19.2% |
| Income taxes | 67/77 | €59,873 | €72,101 | +€12,228 | +20.4% |
| Profit (loss) for the period | 9904 | €138,254 | €164,155 | +€25,901 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €138,254 | €164,155 | +€25,901 | +18.7% |
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 26 October 2026 via checked.be.