GEERINCK: 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.
GEERINCK
Largest movements
- Receivables within one year +€238,417
up €238,417 (+991%), from €24,070 to €262,487
of which Other amounts receivable: +€216,365
- Cash -€175,834
down €175,834 (-60.9%), from €288,882 to €113,048
mainly Contributions, distributions and other (-€266,732) and Receivables within one year (-€238,417)
- Tangible fixed assets -€61,848
down €61,848 (-13.1%), from €472,688 to €410,840
of which Land and buildings: -€44,936
No liability line moved by more than 1% of the balance sheet total.
- Staff costs +€29,539
up €29,539 (+26.5%), from €111,317 to €140,855
- Gross operating margin +€28,900
up €28,900 (+5.5%), from €521,155 to €550,055
- Depreciation +€7,528
up €7,528 (+6.9%), from €109,339 to €116,867
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 | €877,929 | €889,839 | +€11,910 | +1.4% |
| Fixed assets | 21/28 | €473,233 | €419,724 | -€53,508 | -11.3% |
| Tangible fixed assets | 22/27 | €472,688 | €410,840 | -€61,848 | -13.1% |
| Land and buildings | 22 | €295,867 | €250,930 | -€44,936 | -15.2% |
| Plant, machinery and equipment | 23 | €35,253 | €31,193 | -€4,060 | -11.5% |
| Furniture and vehicles | 24 | €141,569 | €128,717 | -€12,852 | -9.1% |
| Financial fixed assets | 28 | €544 | €8,884 | +€8,340 | +1,533% |
| Current assets | 29/58 | €404,697 | €470,115 | +€65,418 | +16.2% |
| Stocks and contracts in progress | 3 | €91,745 | €92,816 | +€1,071 | +1.2% |
| Stocks | 30/36 | €91,745 | €92,816 | +€1,071 | +1.2% |
| Amounts receivable within one year | 40/41 | €24,070 | €262,487 | +€238,417 | +991% |
| Trade receivables | 40 | €16,396 | €38,448 | +€22,052 | +134% |
| Other amounts receivable | 41 | €7,673 | €224,039 | +€216,365 | +2,820% |
| Cash at bank and in hand | 54/58 | €288,882 | €113,048 | -€175,834 | -60.9% |
| Deferred charges and accrued income | 490/1 | - | €1,765 | +€1,765 | |
| Total equity and liabilities | 10/49 | €877,929 | €889,839 | +€11,910 | +1.4% |
| Equity | 10/15 | €603,194 | €603,703 | +€509 | +0.1% |
| Contributions | 10/11 | €74,520 | €74,520 | = | 0.0% |
| Capital | 10 | €74,520 | €74,520 | = | 0.0% |
| Issued capital | 100 | €74,520 | €74,520 | = | 0.0% |
| Reserves | 13 | €528,674 | €529,183 | +€509 | +0.1% |
| Non-distributable reserves | 130/1 | €7,452 | €7,452 | = | 0.0% |
| Legal reserve | 130 | €7,452 | €7,452 | = | 0.0% |
| Distributable reserves | 133 | €521,222 | €521,731 | +€509 | +0.1% |
| Amounts payable | 17/49 | €274,735 | €286,136 | +€11,401 | +4.1% |
| Amounts payable within one year | 42/48 | €274,735 | €286,136 | +€11,401 | +4.1% |
| Trade debts | 44 | €8,931 | €16,354 | +€7,423 | +83.1% |
| Suppliers | 440/4 | €8,931 | €16,354 | +€7,423 | +83.1% |
| Taxes, remuneration and social security | 45 | €27,776 | €30,998 | +€3,222 | +11.6% |
| Taxes | 450/3 | €13,941 | €18,063 | +€4,122 | +29.6% |
| Remuneration and social security | 454/9 | €13,835 | €12,935 | -€900 | -6.5% |
| Other amounts payable | 47/48 | €238,029 | €238,785 | +€756 | +0.3% |
| Non-recurring operating income | 76A | - | €269 | +€269 | |
| Remuneration, social security and pensions | 62 | €111,317 | €140,855 | +€29,539 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,339 | €116,867 | +€7,528 | +6.9% |
| Other operating charges | 640/8 | €8,593 | €8,717 | +€124 | +1.4% |
| Gross operating margin | 9900 | €521,155 | €550,055 | +€28,900 | +5.5% |
| Operating profit (loss) | 9901 | €291,906 | €283,616 | -€8,290 | -2.8% |
| Financial income | 75/76B | €11,232 | €12,787 | +€1,555 | +13.8% |
| Recurring financial income | 75 | €11,232 | €12,787 | +€1,555 | +13.8% |
| Financial charges | 65/66B | €2,403 | €2,486 | +€83 | +3.5% |
| Recurring financial charges | 65 | €2,403 | €2,486 | +€83 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €300,735 | €293,917 | -€6,819 | -2.3% |
| Income taxes | 67/77 | €26,302 | €26,676 | +€374 | +1.4% |
| Profit (loss) for the period | 9904 | €274,434 | €267,241 | -€7,193 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €274,434 | €267,241 | -€7,193 | -2.6% |
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 13 October 2026 via checked.be.