GEAL: what changed
Two fiscal 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.
What changed
GEAL
NACE 10.730, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€386,194
2024 · €660,330-€274,136
Equity
€3.3m
2024 · €2.9m+€386,194
Cash
€1.5m
2024 · €1.5m+€61,507
Balance sheet total
€5.8m
2024 · €6.4m-€602,405
Largest movements
Assets
- Tangible fixed assets -€468,100
down €468,100 (-13.5%), from €3.5m to €3.0m
of which Leasing and similar rights: -€271,855
- Stocks and contracts -€138,334
down €138,334 (-28.0%), from €494,828 to €356,493
- Receivables within one year -€69,053
down €69,053 (-7.2%), from €957,159 to €888,106
of which Other amounts receivable: -€181,766
Equity and liabilities
- Debts after one year -€360,371
down €360,371 (-17.7%), from €2.0m to €1.7m
- Other debts -€312,789
down €312,789 (-95.4%), from €327,836 to €15,047
- Trade debts -€311,968
down €311,968 (-47.3%), from €658,964 to €346,996
- Reserves +€231,550
up €231,550 (+12.1%), from €1.9m to €2.1m
of which Tax-exempt reserves: +€231,550
- Profit (loss) carried forward +€154,644
up €154,644 (+17.2%), from €900,772 to €1.1m
Income statement
- Gross operating margin -€222,680
down €222,680 (-11.0%), from €2.0m to €1.8m
- Other operating charges +€22,267
up €22,267 (+101.3%), from €21,981 to €44,248
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.
Result 2024
€660,330
Gross operating margin
-€222,680
Staff costs
-€1,944
Depreciation
-€19,858
Other operating charges
-€22,267
Financial income
-€9,030
Financial charges
+€7,019
Taxes
-€5,376
Result 2025
€386,194
Cash bridge derived
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.
From operations
+€460,938
Investment
-€41,332
Financing
-€358,098
Cash 2024
€1.5m
From operations (derived)
+€460,938
Net result for the year
+€386,194
Depreciation
+€509,433
Stocks and contracts
+€138,334
Receivables within one year
+€69,053
Deferred charges and accrued income
-€11,576
Trade debts
-€311,968
Tax, wage and social debts
-€25,309
Other debts
-€312,789
Accrued charges and deferred income
+€19,566
Investment (derived)
-€41,332
Investment in fixed assets (net)
-€41,332
Financing
-€358,098
Debts after one year
-€360,371
Current portion of long-term debt
+€2,273
Cash 2025
€1.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,414,305 | €5,811,901 | -€602,405 | -9.4% |
| Fixed assets | 21/28 | €3,480,067 | €3,011,967 | -€468,100 | -13.5% |
| Tangible fixed assets | 22/27 | €3,480,067 | €3,011,967 | -€468,100 | -13.5% |
| Land and buildings | 22 | €1,524,750 | €1,400,756 | -€123,994 | -8.1% |
| Plant, machinery and equipment | 23 | €387,578 | €298,853 | -€88,725 | -22.9% |
| Furniture and vehicles | 24 | €5,879 | €22,352 | +€16,473 | +280.2% |
| Leasing and similar rights | 25 | €1,561,860 | €1,290,005 | -€271,855 | -17.4% |
| Current assets | 29/58 | €2,934,238 | €2,799,934 | -€134,305 | -4.6% |
| Stocks and contracts in progress | 3 | €494,828 | €356,493 | -€138,334 | -28.0% |
| Stocks | 30/36 | €494,828 | €356,493 | -€138,334 | -28.0% |
| Amounts receivable within one year | 40/41 | €957,159 | €888,106 | -€69,053 | -7.2% |
| Trade receivables | 40 | €675,165 | €787,878 | +€112,712 | +16.7% |
| Other amounts receivable | 41 | €281,994 | €100,228 | -€181,766 | -64.5% |
| Cash at bank and in hand | 54/58 | €1,471,793 | €1,533,300 | +€61,507 | +4.2% |
| Deferred charges and accrued income | 490/1 | €10,458 | €22,035 | +€11,576 | +110.7% |
| Total equity and liabilities | 10/49 | €6,414,305 | €5,811,901 | -€602,405 | -9.4% |
| Equity | 10/15 | €2,897,790 | €3,283,984 | +€386,194 | +13.3% |
| Contributions | 10/11 | €81,000 | €81,000 | = | 0.0% |
| Reserves | 13 | €1,916,018 | €2,147,568 | +€231,550 | +12.1% |
| Non-distributable reserves | 130/1 | €504,000 | €504,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €504,000 | - | -€504,000 | |
| Other | 1319 | - | €504,000 | +€504,000 | |
| Tax-exempt reserves | 132 | - | €231,550 | +€231,550 | |
| Distributable reserves | 133 | €1,412,018 | €1,412,018 | = | 0.0% |
| Profit (loss) carried forward | 14 | €900,772 | €1,055,416 | +€154,644 | +17.2% |
| Amounts payable | 17/49 | €3,516,515 | €2,527,916 | -€988,599 | -28.1% |
| Amounts payable after more than one year | 17 | €2,039,931 | €1,679,560 | -€360,371 | -17.7% |
| Financial debts | 170/4 | €2,039,931 | €1,679,560 | -€360,371 | -17.7% |
| Amounts payable within one year | 42/48 | €1,446,365 | €798,572 | -€647,793 | -44.8% |
| Current portion of amounts payable after more than one year | 42 | €358,098 | €360,371 | +€2,273 | +0.6% |
| Trade debts | 44 | €658,964 | €346,996 | -€311,968 | -47.3% |
| Suppliers | 440/4 | €658,964 | €346,996 | -€311,968 | -47.3% |
| Taxes, remuneration and social security | 45 | €101,466 | €76,157 | -€25,309 | -24.9% |
| Taxes | 450/3 | €22,849 | €257 | -€22,593 | -98.9% |
| Remuneration and social security | 454/9 | €78,617 | €75,901 | -€2,716 | -3.5% |
| Other amounts payable | 47/48 | €327,836 | €15,047 | -€312,789 | -95.4% |
| Accrued charges and deferred income | 492/3 | €30,219 | €49,785 | +€19,566 | +64.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €699,711 | €701,655 | +€1,944 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €489,574 | €509,433 | +€19,858 | +4.1% |
| Other operating charges | 640/8 | €21,981 | €44,248 | +€22,267 | +101.3% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €2,016,196 | €1,793,516 | -€222,680 | -11.0% |
| Operating profit (loss) | 9901 | €804,929 | €538,180 | -€266,749 | -33.1% |
| Financial income | 75/76B | €21,652 | €12,622 | -€9,030 | -41.7% |
| Recurring financial income | 75 | €21,652 | €12,622 | -€9,030 | -41.7% |
| Financial charges | 65/66B | €34,760 | €27,741 | -€7,019 | -20.2% |
| Recurring financial charges | 65 | €31,465 | €27,741 | -€3,724 | -11.8% |
| Non-recurring financial charges | 66B | €3,295 | - | -€3,295 | |
| Profit (loss) for the period before taxes | 9903 | €791,822 | €523,062 | -€268,760 | -33.9% |
| Income taxes | 67/77 | €131,492 | €136,868 | +€5,376 | +4.1% |
| Profit (loss) for the period | 9904 | €660,330 | €386,194 | -€274,136 | -41.5% |
| Transfer to tax-exempt reserves | 689 | - | €231,550 | +€231,550 | |
| Profit (loss) for the period to be appropriated | 9905 | €660,330 | €154,644 | -€505,686 | -76.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.