GEART: 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.
GEART
Largest movements
- Tangible fixed assets -€55,672
down €55,672 (-19.6%), from €284,673 to €229,001
of which Furniture and vehicles: -€55,672
- Receivables within one year -€4,060
down €4,060 (-4.2%), from €96,068 to €92,008
of which Other amounts receivable: -€4,489
- Other debts -€76,550
down €76,550 (-60.2%), from €127,253 to €50,703
- Trade debts +€31,514
new in 2025: €31,514
- Profit (loss) carried forward -€13,413
down €13,413 (-5.8%), from €232,180 to €218,767
- Financial charges -€2,831
down €2,831 (-31.4%), from €9,028 to €6,197
- Gross operating margin +€1,697
up €1,697 (+2.2%), from €77,980 to €79,677
- Other operating charges -€1,400
down €1,400 (-25.6%), from €5,471 to €4,071
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 | €383,089 | €323,797 | -€59,292 | -15.5% |
| Fixed assets | 21/28 | €284,673 | €229,001 | -€55,672 | -19.6% |
| Tangible fixed assets | 22/27 | €284,673 | €229,001 | -€55,672 | -19.6% |
| Furniture and vehicles | 24 | €127,673 | €72,001 | -€55,672 | -43.6% |
| Other tangible fixed assets | 26 | €157,000 | €157,000 | = | 0.0% |
| Current assets | 29/58 | €98,416 | €94,796 | -€3,620 | -3.7% |
| Amounts receivable within one year | 40/41 | €96,068 | €92,008 | -€4,060 | -4.2% |
| Trade receivables | 40 | €89,076 | €89,505 | +€429 | +0.5% |
| Other amounts receivable | 41 | €6,991 | €2,502 | -€4,489 | -64.2% |
| Cash at bank and in hand | 54/58 | €2,349 | €2,788 | +€440 | +18.7% |
| Total equity and liabilities | 10/49 | €383,089 | €323,797 | -€59,292 | -15.5% |
| Equity | 10/15 | €252,640 | €239,227 | -€13,413 | -5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,180 | €218,767 | -€13,413 | -5.8% |
| Amounts payable | 17/49 | €130,449 | €84,570 | -€45,879 | -35.2% |
| Amounts payable within one year | 42/48 | €130,449 | €84,570 | -€45,879 | -35.2% |
| Trade debts | 44 | - | €31,514 | +€31,514 | |
| Suppliers | 440/4 | - | €31,514 | +€31,514 | |
| Taxes, remuneration and social security | 45 | €3,195 | €2,353 | -€843 | -26.4% |
| Taxes | 450/3 | €3,195 | €2,353 | -€843 | -26.4% |
| Other amounts payable | 47/48 | €127,253 | €50,703 | -€76,550 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,996 | €57,303 | -€693 | -1.2% |
| Other operating charges | 640/8 | €5,471 | €4,071 | -€1,400 | -25.6% |
| Gross operating margin | 9900 | €77,980 | €79,677 | +€1,697 | +2.2% |
| Operating profit (loss) | 9901 | €14,513 | €18,304 | +€3,791 | +26.1% |
| Financial charges | 65/66B | €9,028 | €6,197 | -€2,831 | -31.4% |
| Recurring financial charges | 65 | €9,028 | €6,197 | -€2,831 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €5,485 | €12,107 | +€6,621 | +120.7% |
| Income taxes | 67/77 | €567 | €520 | -€47 | -8.3% |
| Profit (loss) for the period | 9904 | €4,918 | €11,587 | +€6,668 | +135.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,918 | €11,587 | +€6,668 | +135.6% |
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 10 October 2026 via checked.be.