GEERINCK D.: 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 D.
Largest movements
- Tangible fixed assets +€141,753
up €141,753 (+117%), from €120,924 to €262,677
of which Furniture and vehicles: +€128,952
- Receivables within one year +€52,164
up €52,164 (+60.3%), from €86,481 to €138,645
of which Trade receivables: +€45,746
- Deferred charges and accrued income +€5,233
new in 2025: €5,233
- Debts after one year +€98,493
up €98,493 (+157%), from €62,826 to €161,319
- Tax, wage and social debts +€39,393
up €39,393 (+88.7%), from €44,411 to €83,804
of which Taxes: +€24,668
- Profit (loss) carried forward +€39,234
new in 2025: €39,234
- Current portion of long-term debt +€28,155
up €28,155 (+260%), from €10,808 to €38,963
- Trade debts -€5,765
down €5,765 (-17.8%), from €32,331 to €26,566
- Gross operating margin +€76,526
up €76,526 (+53.4%), from €143,221 to €219,748
- Staff costs +€59,127
up €59,127 (+277%), from €21,338 to €80,465
- Other operating charges +€9,674
up €9,674 (+58.2%), from €16,620 to €26,294
- Financial charges +€5,318
up €5,318 (+76.3%), from €6,967 to €12,285
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 | €274,730 | €476,850 | +€202,120 | +73.6% |
| Fixed assets | 21/28 | €135,531 | €276,784 | +€141,253 | +104% |
| Intangible fixed assets | 21 | €3,873 | €3,373 | -€500 | -12.9% |
| Tangible fixed assets | 22/27 | €120,924 | €262,677 | +€141,753 | +117% |
| Land and buildings | 22 | - | €4,167 | +€4,167 | |
| Plant, machinery and equipment | 23 | €11,587 | €20,222 | +€8,634 | +74.5% |
| Furniture and vehicles | 24 | €109,336 | €238,288 | +€128,952 | +118% |
| Financial fixed assets | 28 | €10,735 | €10,735 | = | 0.0% |
| Current assets | 29/58 | €139,199 | €200,066 | +€60,867 | +43.7% |
| Stocks and contracts in progress | 3 | €25,465 | €25,465 | = | 0.0% |
| Stocks | 30/36 | €25,465 | €25,465 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €86,481 | €138,645 | +€52,164 | +60.3% |
| Trade receivables | 40 | €86,477 | €132,223 | +€45,746 | +52.9% |
| Other amounts receivable | 41 | €4 | €6,422 | +€6,418 | +160,450% |
| Cash at bank and in hand | 54/58 | €27,252 | €30,723 | +€3,471 | +12.7% |
| Deferred charges and accrued income | 490/1 | - | €5,233 | +€5,233 | |
| Total equity and liabilities | 10/49 | €274,730 | €476,850 | +€202,120 | +73.6% |
| Equity | 10/15 | €68,716 | €107,950 | +€39,234 | +57.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €48,716 | €48,716 | = | 0.0% |
| Distributable reserves | 133 | €48,716 | €48,716 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €39,234 | +€39,234 | |
| Amounts payable | 17/49 | €206,014 | €368,899 | +€162,886 | +79.1% |
| Amounts payable after more than one year | 17 | €62,826 | €161,319 | +€98,493 | +157% |
| Financial debts | 170/4 | €62,826 | €161,319 | +€98,493 | +157% |
| Amounts payable within one year | 42/48 | €143,188 | €207,581 | +€64,393 | +45.0% |
| Current portion of amounts payable after more than one year | 42 | €10,808 | €38,963 | +€28,155 | +260% |
| Trade debts | 44 | €32,331 | €26,566 | -€5,765 | -17.8% |
| Suppliers | 440/4 | €32,331 | €26,566 | -€5,765 | -17.8% |
| Taxes, remuneration and social security | 45 | €44,411 | €83,804 | +€39,393 | +88.7% |
| Taxes | 450/3 | €40,586 | €65,254 | +€24,668 | +60.8% |
| Remuneration and social security | 454/9 | €3,825 | €18,550 | +€14,725 | +385% |
| Other amounts payable | 47/48 | €55,637 | €58,248 | +€2,611 | +4.7% |
| Remuneration, social security and pensions | 62 | €21,338 | €80,465 | +€59,127 | +277% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,143 | €43,951 | +€809 | +1.9% |
| Other operating charges | 640/8 | €16,620 | €26,294 | +€9,674 | +58.2% |
| Gross operating margin | 9900 | €143,221 | €219,748 | +€76,526 | +53.4% |
| Operating profit (loss) | 9901 | €62,120 | €69,037 | +€6,916 | +11.1% |
| Financial income | 75/76B | €34 | €0 | -€34 | -99.4% |
| Recurring financial income | 75 | €34 | €0 | -€34 | -99.4% |
| Financial charges | 65/66B | €6,967 | €12,285 | +€5,318 | +76.3% |
| Recurring financial charges | 65 | €6,967 | €12,285 | +€5,318 | +76.3% |
| Profit (loss) for the period before taxes | 9903 | €55,187 | €56,752 | +€1,565 | +2.8% |
| Income taxes | 67/77 | €15,782 | €17,519 | +€1,737 | +11.0% |
| Profit (loss) for the period | 9904 | €39,406 | €39,234 | -€172 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,406 | €39,234 | -€172 | -0.4% |
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 28 October 2026 via checked.be.