GEEBELEN PROJECTS: 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.
GEEBELEN PROJECTS
Largest movements
- Cash +€101,790
up €101,790 (+57.4%), from €177,473 to €279,262
mainly Receivables within one year (+€50,574) and Net result for the year (+€44,264)
- Receivables within one year -€50,574
down €50,574 (-100%), from €50,574 to €0
of which Other amounts receivable: -€41,875
- Tangible fixed assets -€10,670
down €10,670 (-4.2%), from €253,955 to €243,285
- Reserves +€44,264
up €44,264 (+16.7%), from €265,206 to €309,470
of which Distributable reserves: +€44,264
- Debts after one year -€28,706
down €28,706 (-20.3%), from €141,075 to €112,368
- Other debts +€19,689
up €19,689 (+131%), from €15,055 to €34,744
- Tax, wage and social debts +€18,310
up €18,310, from €0 to €18,310
- Trade debts -€13,259
down €13,259 (-97.4%), from €13,606 to €347
- Gross operating margin -€27,017
down €27,017 (-23.4%), from €115,275 to €88,258
- Taxes -€4,244
down €4,244 (-18.8%), from €22,555 to €18,310
- Depreciation +€1,484
up €1,484 (+7.7%), from €19,172 to €20,656
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 | €482,001 | €522,547 | +€40,546 | +8.4% |
| Fixed assets | 21/28 | €253,955 | €243,285 | -€10,670 | -4.2% |
| Tangible fixed assets | 22/27 | €253,955 | €243,285 | -€10,670 | -4.2% |
| Land and buildings | 22 | €253,955 | €243,285 | -€10,670 | -4.2% |
| Current assets | 29/58 | €228,046 | €279,262 | +€51,216 | +22.5% |
| Amounts receivable within one year | 40/41 | €50,574 | €0 | -€50,574 | -100% |
| Trade receivables | 40 | €8,699 | €0 | -€8,699 | -100% |
| Other amounts receivable | 41 | €41,875 | €0 | -€41,875 | -100% |
| Cash at bank and in hand | 54/58 | €177,473 | €279,262 | +€101,790 | +57.4% |
| Total equity and liabilities | 10/49 | €482,001 | €522,547 | +€40,546 | +8.4% |
| Equity | 10/15 | €283,806 | €328,070 | +€44,264 | +15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €265,206 | €309,470 | +€44,264 | +16.7% |
| 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 | €263,346 | €307,610 | +€44,264 | +16.8% |
| Amounts payable | 17/49 | €198,195 | €194,477 | -€3,718 | -1.9% |
| Amounts payable after more than one year | 17 | €141,075 | €112,368 | -€28,706 | -20.3% |
| Financial debts | 170/4 | €141,075 | €112,368 | -€28,706 | -20.3% |
| Amounts payable within one year | 42/48 | €57,120 | €82,108 | +€24,988 | +43.7% |
| Current portion of amounts payable after more than one year | 42 | €28,459 | €28,706 | +€247 | +0.9% |
| Trade debts | 44 | €13,606 | €347 | -€13,259 | -97.4% |
| Suppliers | 440/4 | €13,606 | €347 | -€13,259 | -97.4% |
| Taxes, remuneration and social security | 45 | €0 | €18,310 | +€18,310 | |
| Taxes | 450/3 | €0 | €18,310 | +€18,310 | |
| Other amounts payable | 47/48 | €15,055 | €34,744 | +€19,689 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,172 | €20,656 | +€1,484 | +7.7% |
| Other operating charges | 640/8 | €4,507 | €4,251 | -€256 | -5.7% |
| Gross operating margin | 9900 | €115,275 | €88,258 | -€27,017 | -23.4% |
| Operating profit (loss) | 9901 | €91,595 | €63,351 | -€28,245 | -30.8% |
| Financial income | 75/76B | €274 | €778 | +€504 | +184% |
| Recurring financial income | 75 | €274 | €778 | +€504 | +184% |
| Financial charges | 65/66B | €2,444 | €1,554 | -€891 | -36.4% |
| Recurring financial charges | 65 | €2,444 | €1,554 | -€891 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €89,425 | €62,575 | -€26,850 | -30.0% |
| Income taxes | 67/77 | €22,555 | €18,310 | -€4,244 | -18.8% |
| Profit (loss) for the period | 9904 | €66,870 | €44,264 | -€22,606 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €66,870 | €44,264 | -€22,606 | -33.8% |
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 27 October 2026 via checked.be.