GEERS P.: 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.
GEERS P.
Largest movements
- Tangible fixed assets -€1.0m
down €1.0m (-3.3%), from €30.7m to €29.7m
of which Other tangible fixed assets: -€975,447
- Receivables within one year -€1.0m
down €1.0m (-2.4%), from €41.8m to €40.8m
of which Trade receivables: -€1.8m
- Other debts -€930,489
down €930,489 (-2.0%), from €46.2m to €45.3m
- Gross operating margin +€333,376
up €333,376 (+30.7%), from €1.1m to €1.4m
- Financial charges -€259,047
down €259,047 (-22.6%), from €1.1m to €887,967
- Depreciation +€82,359
up €82,359 (+9.7%), from €850,993 to €933,352
- Financial income -€15,452
no longer reported in 2025 (was €15,452)
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 | €72,475,182 | €70,518,120 | -€2.0m | -2.7% |
| Fixed assets | 21/28 | €30,668,420 | €29,658,002 | -€1.0m | -3.3% |
| Tangible fixed assets | 22/27 | €30,668,420 | €29,658,002 | -€1.0m | -3.3% |
| Land and buildings | 22 | €3,078,487 | €3,056,270 | -€22,217 | -0.7% |
| Plant, machinery and equipment | 23 | €77,187 | €64,683 | -€12,504 | -16.2% |
| Furniture and vehicles | 24 | €543 | €293 | -€250 | -46.0% |
| Other tangible fixed assets | 26 | €27,512,203 | €26,536,756 | -€975,447 | -3.5% |
| Current assets | 29/58 | €41,806,762 | €40,860,118 | -€946,644 | -2.3% |
| Amounts receivable within one year | 40/41 | €41,759,197 | €40,752,990 | -€1.0m | -2.4% |
| Trade receivables | 40 | €40,651,621 | €38,804,981 | -€1.8m | -4.5% |
| Other amounts receivable | 41 | €1,107,576 | €1,948,009 | +€840,433 | +75.9% |
| Cash at bank and in hand | 54/58 | €47,565 | €107,128 | +€59,563 | +125.2% |
| Total equity and liabilities | 10/49 | €72,475,182 | €70,518,120 | -€2.0m | -2.7% |
| Equity | 10/15 | €8,383,518 | €7,975,492 | -€408,026 | -4.9% |
| Contributions | 10/11 | €6,526,000 | €6,526,000 | = | 0.0% |
| Capital | 10 | €6,526,000 | €6,526,000 | = | 0.0% |
| Issued capital | 100 | €6,526,000 | €6,526,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,078,486 | €3,056,270 | -€22,216 | -0.7% |
| Reserves | 13 | €378,046 | €400,262 | +€22,216 | +5.9% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €365,546 | €387,762 | +€22,216 | +6.1% |
| Profit (loss) carried forward | 14 | -€1,599,014 | -€2,007,040 | -€408,026 | -25.5% |
| Amounts payable | 17/49 | €64,091,664 | €62,542,628 | -€1.5m | -2.4% |
| Amounts payable within one year | 42/48 | €64,091,664 | €62,542,628 | -€1.5m | -2.4% |
| Financial debts | 43 | €17,432,200 | €16,975,625 | -€456,575 | -2.6% |
| Credit institutions | 430/8 | €17,432,200 | €16,975,625 | -€456,575 | -2.6% |
| Trade debts | 44 | €440,760 | €278,937 | -€161,823 | -36.7% |
| Suppliers | 440/4 | €440,760 | €278,937 | -€161,823 | -36.7% |
| Taxes, remuneration and social security | 45 | €149 | - | -€149 | |
| Taxes | 450/3 | €149 | - | -€149 | |
| Other amounts payable | 47/48 | €46,218,555 | €45,288,066 | -€930,489 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €850,993 | €933,352 | +€82,359 | +9.7% |
| Other operating charges | 640/8 | €7,741 | €4,325 | -€3,416 | -44.1% |
| Gross operating margin | 9900 | €1,084,242 | €1,417,618 | +€333,376 | +30.7% |
| Operating profit (loss) | 9901 | €225,508 | €479,941 | +€254,433 | +112.8% |
| Financial income | 75/76B | €15,452 | - | -€15,452 | |
| Recurring financial income | 75 | €15,452 | - | -€15,452 | |
| Financial charges | 65/66B | €1,147,014 | €887,967 | -€259,047 | -22.6% |
| Recurring financial charges | 65 | €1,147,014 | €887,967 | -€259,047 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | -€906,054 | -€408,026 | +€498,028 | +55.0% |
| Income taxes | 67/77 | €4,634 | - | -€4,634 | |
| Profit (loss) for the period | 9904 | -€910,688 | -€408,026 | +€502,662 | +55.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€910,688 | -€408,026 | +€502,662 | +55.2% |
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 5 October 2026 via checked.be.