GEERS THIERRY: what changed
GEERS THIERRY
Largest movements
- Tangible fixed assets -€44,824
down €44,824 (-12.2%), from €366,641 to €321,818
of which Plant, machinery and equipment: -€42,786
- Cash -€30,237
down €30,237 (-35.7%), from €84,633 to €54,397
mainly Debts after one year (-€77,970) and Other debts (-€33,032)
- Receivables within one year -€27,002
down €27,002 (-35.5%), from €76,066 to €49,064
of which Trade receivables: -€29,455
- Debts after one year -€77,970
down €77,970 (-32.7%), from €238,606 to €160,637
- Other debts -€33,032
down €33,032 (-82.1%), from €40,219 to €7,187
- Reserves +€25,000
up €25,000 (+1,344%), from €1,860 to €26,860
- Trade debts -€23,973
down €23,973 (-54.0%), from €44,416 to €20,442
- Profit (loss) carried forward +€11,402
up €11,402 (+13.5%), from €84,316 to €95,718
- Gross operating margin -€10,304
down €10,304 (-9.0%), from €114,611 to €104,307
- Financial charges -€1,284
down €1,284 (-16.0%), from €8,042 to €6,758
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €527,340 | €425,278 | -€102,062 | -19.4% |
| Fixed assets | 21/28 | €366,641 | €321,818 | -€44,824 | -12.2% |
| Tangible fixed assets | 22/27 | €366,641 | €321,818 | -€44,824 | -12.2% |
| Plant, machinery and equipment | 23 | €354,027 | €311,241 | -€42,786 | -12.1% |
| Furniture and vehicles | 24 | €12,614 | €10,577 | -€2,037 | -16.2% |
| Current assets | 29/58 | €160,699 | €103,460 | -€57,239 | -35.6% |
| Amounts receivable within one year | 40/41 | €76,066 | €49,064 | -€27,002 | -35.5% |
| Trade receivables | 40 | €65,157 | €35,702 | -€29,455 | -45.2% |
| Other amounts receivable | 41 | €10,909 | €13,362 | +€2,453 | +22.5% |
| Cash at bank and in hand | 54/58 | €84,633 | €54,397 | -€30,237 | -35.7% |
| Total equity and liabilities | 10/49 | €527,340 | €425,278 | -€102,062 | -19.4% |
| Equity | 10/15 | €98,576 | €134,978 | +€36,402 | +36.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €26,860 | +€25,000 | +1,344% |
| Distributable reserves | 133 | €1,860 | €26,860 | +€25,000 | +1,344% |
| Profit (loss) carried forward | 14 | €84,316 | €95,718 | +€11,402 | +13.5% |
| Amounts payable | 17/49 | €428,764 | €290,300 | -€138,464 | -32.3% |
| Amounts payable after more than one year | 17 | €238,606 | €160,637 | -€77,970 | -32.7% |
| Financial debts | 170/4 | €238,606 | €160,637 | -€77,970 | -32.7% |
| Amounts payable within one year | 42/48 | €190,158 | €129,663 | -€60,494 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €76,444 | €77,970 | +€1,525 | +2.0% |
| Financial debts | 43 | €9,270 | €15,292 | +€6,022 | +65.0% |
| Credit institutions | 430/8 | €9,270 | €15,292 | +€6,022 | +65.0% |
| Trade debts | 44 | €44,416 | €20,442 | -€23,973 | -54.0% |
| Suppliers | 440/4 | €44,416 | €20,442 | -€23,973 | -54.0% |
| Taxes, remuneration and social security | 45 | €19,808 | €8,772 | -€11,036 | -55.7% |
| Taxes | 450/3 | €4,808 | €8,772 | +€3,964 | +82.4% |
| Remuneration and social security | 454/9 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €40,219 | €7,187 | -€33,032 | -82.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,363 | €44,824 | -€539 | -1.2% |
| Other operating charges | 640/8 | €1,065 | €848 | -€218 | -20.4% |
| Gross operating margin | 9900 | €114,611 | €104,307 | -€10,304 | -9.0% |
| Operating profit (loss) | 9901 | €68,183 | €58,635 | -€9,547 | -14.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €8,042 | €6,758 | -€1,284 | -16.0% |
| Recurring financial charges | 65 | €8,042 | €6,758 | -€1,284 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €60,140 | €51,877 | -€8,264 | -13.7% |
| Income taxes | 67/77 | €14,400 | €15,475 | +€1,075 | +7.5% |
| Profit (loss) for the period | 9904 | €45,740 | €36,402 | -€9,338 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,740 | €36,402 | -€9,338 | -20.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.