GEANI: 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.
GEANI
Largest movements
- Current investments +€390,270
up €390,270 (+130.5%), from €298,961 to €689,231
- Cash -€182,502
down €182,502 (-46.0%), from €396,994 to €214,493
mainly Current investments (-€390,270) and Investment in fixed assets (net) (-€74,726)
- Receivables within one year +€53,768
up €53,768 (+219.6%), from €24,484 to €78,252
of which Trade receivables: +€54,517
- Tangible fixed assets +€23,646
up €23,646 (+11.0%), from €214,279 to €237,925
of which Furniture and vehicles: +€41,569
- Stocks and contracts -€14,104
down €14,104 (-15.3%), from €91,892 to €77,788
- Reserves +€236,324
up €236,324 (+30.3%), from €781,084 to €1.0m
of which Distributable reserves: +€236,324
- Trade debts +€31,118
up €31,118 (+59.9%), from €51,957 to €83,075
- Other debts +€24,840
up €24,840 (+26.8%), from €92,754 to €117,594
- Gross operating margin +€225,708
up €225,708 (+70.2%), from €321,549 to €547,256
- Taxes +€69,024
up €69,024 (+182.4%), from €37,846 to €106,870
- Staff costs +€23,346
up €23,346 (+22.7%), from €102,773 to €126,119
- Financial charges +€16,307
up €16,307, from -€5,677 to €10,631
- Depreciation -€7,753
down €7,753 (-13.2%), from €58,833 to €51,081
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,032,336 | €1,309,525 | +€277,189 | +26.9% |
| Fixed assets | 21/28 | €214,279 | €237,925 | +€23,646 | +11.0% |
| Tangible fixed assets | 22/27 | €214,279 | €237,925 | +€23,646 | +11.0% |
| Land and buildings | 22 | €74,216 | €72,072 | -€2,145 | -2.9% |
| Plant, machinery and equipment | 23 | €117,229 | €101,450 | -€15,779 | -13.5% |
| Furniture and vehicles | 24 | €22,834 | €64,403 | +€41,569 | +182.0% |
| Current assets | 29/58 | €818,057 | €1,071,600 | +€253,543 | +31.0% |
| Stocks and contracts in progress | 3 | €91,892 | €77,788 | -€14,104 | -15.3% |
| Stocks | 30/36 | €91,892 | €77,788 | -€14,104 | -15.3% |
| Amounts receivable within one year | 40/41 | €24,484 | €78,252 | +€53,768 | +219.6% |
| Trade receivables | 40 | €12,974 | €67,491 | +€54,517 | +420.2% |
| Other amounts receivable | 41 | €11,510 | €10,761 | -€749 | -6.5% |
| Current investments | 50/53 | €298,961 | €689,231 | +€390,270 | +130.5% |
| Cash at bank and in hand | 54/58 | €396,994 | €214,493 | -€182,502 | -46.0% |
| Deferred charges and accrued income | 490/1 | €5,725 | €11,836 | +€6,111 | +106.7% |
| Total equity and liabilities | 10/49 | €1,032,336 | €1,309,525 | +€277,189 | +26.9% |
| Equity | 10/15 | €826,084 | €1,062,408 | +€236,324 | +28.6% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €781,084 | €1,017,408 | +€236,324 | +30.3% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €776,584 | €1,012,908 | +€236,324 | +30.4% |
| Amounts payable | 17/49 | €206,252 | €247,117 | +€40,865 | +19.8% |
| Amounts payable after more than one year | 17 | €32,500 | €22,500 | -€10,000 | -30.8% |
| Financial debts | 170/4 | €32,500 | €22,500 | -€10,000 | -30.8% |
| Amounts payable within one year | 42/48 | €169,742 | €224,617 | +€54,875 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €11,133 | €10,000 | -€1,134 | -10.2% |
| Trade debts | 44 | €51,957 | €83,075 | +€31,118 | +59.9% |
| Suppliers | 440/4 | €51,957 | €83,075 | +€31,118 | +59.9% |
| Taxes, remuneration and social security | 45 | €13,897 | €13,948 | +€51 | +0.4% |
| Taxes | 450/3 | €9,032 | €7,007 | -€2,025 | -22.4% |
| Remuneration and social security | 454/9 | €4,865 | €6,941 | +€2,076 | +42.7% |
| Other amounts payable | 47/48 | €92,754 | €117,594 | +€24,840 | +26.8% |
| Accrued charges and deferred income | 492/3 | €4,011 | €0 | -€4,011 | -100.0% |
| Non-recurring operating income | 76A | - | €1,358 | +€1,358 | |
| Remuneration, social security and pensions | 62 | €102,773 | €126,119 | +€23,346 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,833 | €51,081 | -€7,753 | -13.2% |
| Other operating charges | 640/8 | €9,117 | €9,678 | +€561 | +6.2% |
| Non-recurring operating charges | 66A | - | €15,067 | +€15,067 | |
| Gross operating margin | 9900 | €321,549 | €547,256 | +€225,708 | +70.2% |
| Operating profit (loss) | 9901 | €150,825 | €345,311 | +€194,486 | +128.9% |
| Financial income | 75/76B | €1,948 | €8,514 | +€6,566 | +337.1% |
| Recurring financial income | 75 | €1,948 | €8,514 | +€6,566 | +337.1% |
| Financial charges | 65/66B | -€5,677 | €10,631 | +€16,307 | |
| Recurring financial charges | 65 | -€5,677 | €10,631 | +€16,307 | |
| Profit (loss) for the period before taxes | 9903 | €158,449 | €343,194 | +€184,745 | +116.6% |
| Income taxes | 67/77 | €37,846 | €106,870 | +€69,024 | +182.4% |
| Profit (loss) for the period | 9904 | €120,603 | €236,324 | +€115,721 | +96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €120,603 | €236,324 | +€115,721 | +96.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.