GEERBEN: 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.
GEERBEN
Largest movements
- Receivables within one year +€650,244
up €650,244 (+42.5%), from €1.5m to €2.2m
of which Trade receivables: +€585,029
- Cash -€70,863
down €70,863 (-31.0%), from €228,559 to €157,695
mainly Receivables within one year (-€650,244) and Net result for the year (-€258,327)
- Tangible fixed assets -€42,013
down €42,013 (-24.0%), from €175,096 to €133,083
of which Furniture and vehicles: -€43,640
- Stocks and contracts -€42,000
down €42,000 (-21.9%), from €192,000 to €150,000
- Trade debts +€579,987
up €579,987 (+28.6%), from €2.0m to €2.6m
- Profit (loss) carried forward -€258,327
down €258,327 (-100.5%), from -€257,023 to -€515,350
- Other debts +€203,737
up €203,737 (+65.8%), from €309,708 to €513,444
- Other operating charges +€207,880
up €207,880 (+279.3%), from €74,428 to €282,308
- Gross operating margin -€121,540
down €121,540 (-24.9%), from €488,597 to €367,058
- Staff costs -€37,065
down €37,065 (-11.7%), from €317,769 to €280,704
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 | €2,144,920 | €2,642,594 | +€497,674 | +23.2% |
| Fixed assets | 21/28 | €176,336 | €134,322 | -€42,013 | -23.8% |
| Tangible fixed assets | 22/27 | €175,096 | €133,083 | -€42,013 | -24.0% |
| Land and buildings | 22 | €56,610 | €47,642 | -€8,968 | -15.8% |
| Plant, machinery and equipment | 23 | €26,413 | €37,008 | +€10,595 | +40.1% |
| Furniture and vehicles | 24 | €92,073 | €48,433 | -€43,640 | -47.4% |
| Financial fixed assets | 28 | €1,239 | €1,239 | = | 0.0% |
| Current assets | 29/58 | €1,968,585 | €2,508,272 | +€539,687 | +27.4% |
| Stocks and contracts in progress | 3 | €192,000 | €150,000 | -€42,000 | -21.9% |
| Stocks | 30/36 | €192,000 | €150,000 | -€42,000 | -21.9% |
| Amounts receivable within one year | 40/41 | €1,531,027 | €2,181,272 | +€650,244 | +42.5% |
| Trade receivables | 40 | €1,517,702 | €2,102,731 | +€585,029 | +38.5% |
| Other amounts receivable | 41 | €13,326 | €78,540 | +€65,215 | +489.4% |
| Cash at bank and in hand | 54/58 | €228,559 | €157,695 | -€70,863 | -31.0% |
| Deferred charges and accrued income | 490/1 | €16,998 | €19,305 | +€2,306 | +13.6% |
| Total equity and liabilities | 10/49 | €2,144,920 | €2,642,594 | +€497,674 | +23.2% |
| Equity | 10/15 | -€248,966 | -€507,294 | -€258,327 | -103.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€257,023 | -€515,350 | -€258,327 | -100.5% |
| Amounts payable | 17/49 | €2,393,887 | €3,149,888 | +€756,001 | +31.6% |
| Amounts payable after more than one year | 17 | €11,310 | - | -€11,310 | |
| Financial debts | 170/4 | €11,310 | - | -€11,310 | |
| Amounts payable within one year | 42/48 | €2,371,960 | €3,138,273 | +€766,313 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €33,662 | €11,310 | -€22,351 | -66.4% |
| Trade debts | 44 | €2,026,796 | €2,606,784 | +€579,987 | +28.6% |
| Suppliers | 440/4 | €2,026,796 | €2,606,784 | +€579,987 | +28.6% |
| Taxes, remuneration and social security | 45 | €1,795 | €6,734 | +€4,940 | +275.2% |
| Taxes | 450/3 | €1,795 | €6,734 | +€4,940 | +275.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €309,708 | €513,444 | +€203,737 | +65.8% |
| Accrued charges and deferred income | 492/3 | €10,616 | €11,615 | +€999 | +9.4% |
| Non-recurring operating income | 76A | €1,329 | - | -€1,329 | |
| Remuneration, social security and pensions | 62 | €317,769 | €280,704 | -€37,065 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,909 | €55,916 | +€7 | 0.0% |
| Other operating charges | 640/8 | €74,428 | €282,308 | +€207,880 | +279.3% |
| Gross operating margin | 9900 | €488,597 | €367,058 | -€121,540 | -24.9% |
| Operating profit (loss) | 9901 | €40,491 | -€251,870 | -€292,362 | |
| Financial income | 75/76B | €3 | €5 | +€2 | +87.8% |
| Recurring financial income | 75 | €3 | €5 | +€2 | +87.8% |
| Financial charges | 65/66B | €8,346 | €3,494 | -€4,852 | -58.1% |
| Recurring financial charges | 65 | €8,346 | €3,494 | -€4,852 | -58.1% |
| Profit (loss) for the period before taxes | 9903 | €32,148 | -€255,359 | -€287,507 | |
| Income taxes | 67/77 | €386 | €2,968 | +€2,582 | +669.4% |
| Profit (loss) for the period | 9904 | €31,762 | -€258,327 | -€290,090 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,762 | -€258,327 | -€290,090 |
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 8 October 2026 via checked.be.