GEERT DE ROUCK: 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.
GEERT DE ROUCK
Largest movements
- Cash -€64,993
down €64,993 (-63.1%), from €102,963 to €37,970
mainly Net result for the year (-€44,408) and Investment in fixed assets (net) (-€15,303)
- Tangible fixed assets +€12,693
up €12,693 (+360%), from €3,528 to €16,221
of which Furniture and vehicles: +€13,251
- Receivables within one year +€8,131
up €8,131 (+111%), from €7,293 to €15,425
of which Trade receivables: +€4,244
- Profit (loss) carried forward -€44,408
down €44,408 (-298%), from -€14,908 to -€59,315
- Depreciation +€2,027
up €2,027 (+348%), from €583 to €2,610
- Gross operating margin +€944
up €944 (+2.3%), from -€40,691 to -€39,746
- Financial charges +€752
up €752 (+104%), from €720 to €1,472
- Financial income +€633
up €633 (+267%), from €237 to €870
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 | €115,886 | €70,974 | -€44,912 | -38.8% |
| Fixed assets | 21/28 | €3,528 | €16,221 | +€12,693 | +360% |
| Tangible fixed assets | 22/27 | €3,528 | €16,221 | +€12,693 | +360% |
| Furniture and vehicles | 24 | €2,494 | €15,745 | +€13,251 | +531% |
| Other tangible fixed assets | 26 | €1,034 | €476 | -€557 | -53.9% |
| Current assets | 29/58 | €112,358 | €54,753 | -€57,605 | -51.3% |
| Amounts receivable within one year | 40/41 | €7,293 | €15,425 | +€8,131 | +111% |
| Trade receivables | 40 | €6,829 | €11,074 | +€4,244 | +62.1% |
| Other amounts receivable | 41 | €464 | €4,351 | +€3,887 | +838% |
| Cash at bank and in hand | 54/58 | €102,963 | €37,970 | -€64,993 | -63.1% |
| Deferred charges and accrued income | 490/1 | €2,101 | €1,358 | -€743 | -35.4% |
| Total equity and liabilities | 10/49 | €115,886 | €70,974 | -€44,912 | -38.8% |
| Equity | 10/15 | €3,932 | -€40,475 | -€44,408 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €290 | €290 | = | 0.0% |
| Non-distributable reserves | 130/1 | €290 | €290 | = | 0.0% |
| Reserves not available under the articles | 1311 | €290 | €290 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,908 | -€59,315 | -€44,408 | -298% |
| Amounts payable | 17/49 | €111,954 | €111,450 | -€504 | -0.5% |
| Amounts payable within one year | 42/48 | €111,954 | €111,450 | -€504 | -0.5% |
| Trade debts | 44 | €1,440 | €1,224 | -€215 | -15.0% |
| Suppliers | 440/4 | €1,440 | €1,224 | -€215 | -15.0% |
| Taxes, remuneration and social security | 45 | €45,249 | €44,742 | -€507 | -1.1% |
| Taxes | 450/3 | €604 | €97 | -€507 | -83.9% |
| Remuneration and social security | 454/9 | €44,645 | €44,645 | = | 0.0% |
| Other amounts payable | 47/48 | €65,265 | €65,483 | +€218 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €583 | €2,610 | +€2,027 | +348% |
| Other operating charges | 640/8 | €1,235 | €1,269 | +€34 | +2.7% |
| Gross operating margin | 9900 | -€40,691 | -€39,746 | +€944 | +2.3% |
| Operating profit (loss) | 9901 | -€42,509 | -€43,625 | -€1,116 | -2.6% |
| Financial income | 75/76B | €237 | €870 | +€633 | +267% |
| Recurring financial income | 75 | €237 | €870 | +€633 | +267% |
| Financial charges | 65/66B | €720 | €1,472 | +€752 | +104% |
| Recurring financial charges | 65 | €720 | €1,472 | +€752 | +104% |
| Profit (loss) for the period before taxes | 9903 | -€42,992 | -€44,227 | -€1,236 | -2.9% |
| Income taxes | 67/77 | €168 | €180 | +€12 | +7.2% |
| Profit (loss) for the period | 9904 | -€43,160 | -€44,408 | -€1,248 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,160 | -€44,408 | -€1,248 | -2.9% |
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 26 October 2026 via checked.be.