GEERNAERT KOEN: 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.
GEERNAERT KOEN
Largest movements
- Cash +€15,631
up €15,631 (+9.3%), from €168,800 to €184,430
mainly Net result for the year (+€67,622) and Receivables within one year (+€14,466)
- Receivables within one year -€14,466
down €14,466 (-50.0%), from €28,950 to €14,484
of which Other amounts receivable: -€20,886
- Tangible fixed assets -€14,143
down €14,143 (-33.1%), from €42,790 to €28,647
of which Furniture and vehicles: -€13,891
- Reserves +€66,789
up €66,789 (+29.3%), from €228,072 to €294,861
of which Distributable reserves: +€73,816
- Other debts -€65,952
down €65,952 (-98.8%), from €66,785 to €833
- Trade debts -€12,891
down €12,891 (-82.7%), from €15,588 to €2,697
- Gross operating margin +€21,632
up €21,632 (+20.1%), from €107,856 to €129,488
- Taxes +€5,534
up €5,534 (+13.0%), from €42,687 to €48,220
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 | €449,866 | €433,247 | -€16,619 | -3.7% |
| Fixed assets | 21/28 | €43,115 | €28,972 | -€14,143 | -32.8% |
| Tangible fixed assets | 22/27 | €42,790 | €28,647 | -€14,143 | -33.1% |
| Land and buildings | 22 | €216 | €0 | -€216 | -100.0% |
| Plant, machinery and equipment | 23 | €36 | €0 | -€36 | -100.0% |
| Furniture and vehicles | 24 | €42,538 | €28,647 | -€13,891 | -32.7% |
| Financial fixed assets | 28 | €325 | €325 | = | 0.0% |
| Current assets | 29/58 | €406,752 | €404,275 | -€2,477 | -0.6% |
| Amounts receivable within one year | 40/41 | €28,950 | €14,484 | -€14,466 | -50.0% |
| Trade receivables | 40 | €0 | €6,420 | +€6,420 | |
| Other amounts receivable | 41 | €28,950 | €8,064 | -€20,886 | -72.1% |
| Current investments | 50/53 | €93,375 | €93,375 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €168,800 | €184,430 | +€15,631 | +9.3% |
| Deferred charges and accrued income | 490/1 | €115,627 | €111,985 | -€3,641 | -3.1% |
| Total equity and liabilities | 10/49 | €449,866 | €433,247 | -€16,619 | -3.7% |
| Equity | 10/15 | €347,514 | €414,303 | +€66,789 | +19.2% |
| Contributions | 10/11 | €119,277 | €119,277 | = | 0.0% |
| Reserves | 13 | €228,072 | €294,861 | +€66,789 | +29.3% |
| Non-distributable reserves | 130/1 | €100,402 | €93,375 | -€7,027 | -7.0% |
| Reserves not available under the articles | 1311 | €7,027 | €0 | -€7,027 | -100.0% |
| Own shares acquired | 1312 | €93,375 | €93,375 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,594 | €1,594 | = | 0.0% |
| Distributable reserves | 133 | €126,076 | €199,891 | +€73,816 | +58.5% |
| Profit (loss) carried forward | 14 | €165 | €165 | = | 0.0% |
| Amounts payable | 17/49 | €102,352 | €18,944 | -€83,408 | -81.5% |
| Amounts payable within one year | 42/48 | €101,081 | €17,813 | -€83,268 | -82.4% |
| Trade debts | 44 | €15,588 | €2,697 | -€12,891 | -82.7% |
| Suppliers | 440/4 | €15,588 | €2,697 | -€12,891 | -82.7% |
| Taxes, remuneration and social security | 45 | €18,708 | €14,283 | -€4,425 | -23.7% |
| Taxes | 450/3 | €12,312 | €7,841 | -€4,470 | -36.3% |
| Remuneration and social security | 454/9 | €6,397 | €6,442 | +€45 | +0.7% |
| Other amounts payable | 47/48 | €66,785 | €833 | -€65,952 | -98.8% |
| Accrued charges and deferred income | 492/3 | €1,271 | €1,131 | -€141 | -11.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,218 | €14,143 | -€1,075 | -7.1% |
| Other operating charges | 640/8 | €246 | €655 | +€408 | +166.0% |
| Gross operating margin | 9900 | €107,856 | €129,488 | +€21,632 | +20.1% |
| Operating profit (loss) | 9901 | €92,392 | €114,690 | +€22,298 | +24.1% |
| Financial income | 75/76B | €1,250 | €1,263 | +€13 | +1.1% |
| Recurring financial income | 75 | €1,250 | €1,263 | +€13 | +1.1% |
| Financial charges | 65/66B | €113 | €111 | -€2 | -1.3% |
| Recurring financial charges | 65 | €113 | €111 | -€2 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €93,529 | €115,842 | +€22,313 | +23.9% |
| Income taxes | 67/77 | €42,687 | €48,220 | +€5,534 | +13.0% |
| Profit (loss) for the period | 9904 | €50,843 | €67,622 | +€16,779 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,843 | €67,622 | +€16,779 | +33.0% |
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 10 October 2026 via checked.be.