GEERAERTS: 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.
GEERAERTS
Largest movements
- Financial fixed assets +€27,200
up €27,200 (+35.0%), from €77,675 to €104,875
- Deferred charges and accrued income -€16,434
down €16,434 (-95.0%), from €17,307 to €873
- Cash -€15,152
down €15,152 (-99.2%), from €15,271 to €119
mainly Other debts (-€34,092) and Investment in fixed assets (net) (-€28,069)
- Receivables within one year +€7,303
up €7,303 (+32.3%), from €22,606 to €29,909
of which Other amounts receivable: +€6,161
- Profit (loss) carried forward +€43,916
up €43,916 (+30.1%), from -€145,997 to -€102,081
- Other debts -€34,092
down €34,092 (-41.6%), from €81,948 to €47,856
- Accrued charges and deferred income -€5,691
down €5,691 (-100%), from €5,691 to €0
- Tax, wage and social debts -€2,385
down €2,385 (-17.6%), from €13,573 to €11,188
- Trade debts +€1,645
up €1,645 (+15.1%), from €10,885 to €12,530
- Gross operating margin -€36,050
down €36,050 (-33.5%), from €107,667 to €71,617
- Taxes +€7,833
up €7,833 (+2,838%), from €276 to €8,109
- Financial charges +€7,581
up €7,581 (+75.1%), from €10,095 to €17,676
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 | €136,657 | €139,074 | +€2,417 | +1.8% |
| Fixed assets | 21/28 | €81,473 | €108,172 | +€26,700 | +32.8% |
| Tangible fixed assets | 22/27 | €3,798 | €3,297 | -€500 | -13.2% |
| Plant, machinery and equipment | 23 | €1,147 | €1,625 | +€478 | +41.7% |
| Furniture and vehicles | 24 | €2,651 | €1,672 | -€979 | -36.9% |
| Financial fixed assets | 28 | €77,675 | €104,875 | +€27,200 | +35.0% |
| Current assets | 29/58 | €55,185 | €30,902 | -€24,283 | -44.0% |
| Amounts receivable within one year | 40/41 | €22,606 | €29,909 | +€7,303 | +32.3% |
| Trade receivables | 40 | €22,252 | €23,394 | +€1,142 | +5.1% |
| Other amounts receivable | 41 | €354 | €6,515 | +€6,161 | +1,739% |
| Cash at bank and in hand | 54/58 | €15,271 | €119 | -€15,152 | -99.2% |
| Deferred charges and accrued income | 490/1 | €17,307 | €873 | -€16,434 | -95.0% |
| Total equity and liabilities | 10/49 | €136,657 | €139,074 | +€2,417 | +1.8% |
| Equity | 10/15 | €23,584 | €67,500 | +€43,916 | +186% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €163,382 | €163,382 | = | 0.0% |
| Distributable reserves | 133 | €163,382 | €163,382 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,997 | -€102,081 | +€43,916 | +30.1% |
| Amounts payable | 17/49 | €113,073 | €71,573 | -€41,499 | -36.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €107,381 | €71,573 | -€35,808 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €976 | €0 | -€976 | -100% |
| Trade debts | 44 | €10,885 | €12,530 | +€1,645 | +15.1% |
| Suppliers | 440/4 | €10,885 | €12,530 | +€1,645 | +15.1% |
| Taxes, remuneration and social security | 45 | €13,573 | €11,188 | -€2,385 | -17.6% |
| Taxes | 450/3 | €13,573 | €11,188 | -€2,385 | -17.6% |
| Other amounts payable | 47/48 | €81,948 | €47,856 | -€34,092 | -41.6% |
| Accrued charges and deferred income | 492/3 | €5,691 | €0 | -€5,691 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,236 | €1,369 | +€133 | +10.7% |
| Other operating charges | 640/8 | €925 | €560 | -€365 | -39.4% |
| Non-recurring operating charges | 66A | €5,059 | €0 | -€5,059 | -100% |
| Gross operating margin | 9900 | €107,667 | €71,617 | -€36,050 | -33.5% |
| Operating profit (loss) | 9901 | €100,447 | €69,687 | -€30,759 | -30.6% |
| Financial income | 75/76B | €9 | €14 | +€5 | +61.1% |
| Recurring financial income | 75 | €9 | €14 | +€5 | +61.1% |
| Financial charges | 65/66B | €10,095 | €17,676 | +€7,581 | +75.1% |
| Recurring financial charges | 65 | €10,095 | €17,676 | +€7,581 | +75.1% |
| Profit (loss) for the period before taxes | 9903 | €90,360 | €52,025 | -€38,335 | -42.4% |
| Income taxes | 67/77 | €276 | €8,109 | +€7,833 | +2,838% |
| Profit (loss) for the period | 9904 | €90,084 | €43,916 | -€46,168 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,084 | €43,916 | -€46,168 | -51.3% |
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 14 October 2026 via checked.be.