GEERT DE WITTE: 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 WITTE
Largest movements
- Cash +€22,620
up €22,620 (+18.9%), from €119,393 to €142,013
mainly Receivables within one year (+€14,669) and Depreciation (+€13,018)
- Receivables within one year -€14,669
down €14,669 (-60.4%), from €24,290 to €9,622
of which Trade receivables: -€7,801
- Stocks and contracts -€3,125
down €3,125 (-22.8%), from €13,678 to €10,553
- Reserves +€4,398
up €4,398 (+6.6%), from €66,730 to €71,127
of which Distributable reserves: +€4,398
- Other debts -€2,321
down €2,321 (-3.8%), from €61,464 to €59,143
- Gross operating margin -€30,450
down €30,450 (-51.0%), from €59,741 to €29,291
- Taxes -€9,477
down €9,477 (-84.4%), from €11,228 to €1,752
- Write-downs +€1,700
new in 2025: €1,700
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 | €216,507 | €219,821 | +€3,314 | +1.5% |
| Fixed assets | 21/28 | €53,138 | €52,101 | -€1,037 | -2.0% |
| Tangible fixed assets | 22/27 | €53,138 | €52,101 | -€1,037 | -2.0% |
| Land and buildings | 22 | €1,704 | €5,518 | +€3,814 | +224% |
| Plant, machinery and equipment | 23 | €823 | €8,096 | +€7,273 | +884% |
| Furniture and vehicles | 24 | €38,506 | €27,984 | -€10,522 | -27.3% |
| Other tangible fixed assets | 26 | €12,105 | €10,503 | -€1,602 | -13.2% |
| Current assets | 29/58 | €163,369 | €167,720 | +€4,351 | +2.7% |
| Stocks and contracts in progress | 3 | €13,678 | €10,553 | -€3,125 | -22.8% |
| Stocks | 30/36 | €13,678 | €10,553 | -€3,125 | -22.8% |
| Amounts receivable within one year | 40/41 | €24,290 | €9,622 | -€14,669 | -60.4% |
| Trade receivables | 40 | €17,423 | €9,622 | -€7,801 | -44.8% |
| Other amounts receivable | 41 | €6,867 | €0 | -€6,867 | -100% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €119,393 | €142,013 | +€22,620 | +18.9% |
| Deferred charges and accrued income | 490/1 | €6,008 | €5,532 | -€476 | -7.9% |
| Total equity and liabilities | 10/49 | €216,507 | €219,821 | +€3,314 | +1.5% |
| Equity | 10/15 | €107,591 | €111,155 | +€3,565 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,730 | €71,127 | +€4,398 | +6.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €37,047 | €37,047 | = | 0.0% |
| Distributable reserves | 133 | €29,683 | €34,080 | +€4,398 | +14.8% |
| Profit (loss) carried forward | 14 | €22,261 | €21,428 | -€833 | -3.7% |
| Amounts payable | 17/49 | €108,916 | €108,665 | -€251 | -0.2% |
| Amounts payable after more than one year | 17 | €38,500 | €38,500 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €38,500 | €38,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €68,660 | €68,503 | -€157 | -0.2% |
| Trade debts | 44 | €3,275 | €5,310 | +€2,035 | +62.1% |
| Suppliers | 440/4 | €3,275 | €5,310 | +€2,035 | +62.1% |
| Taxes, remuneration and social security | 45 | €3,920 | €4,050 | +€130 | +3.3% |
| Taxes | 450/3 | €3,920 | €4,050 | +€130 | +3.3% |
| Other amounts payable | 47/48 | €61,464 | €59,143 | -€2,321 | -3.8% |
| Accrued charges and deferred income | 492/3 | €1,756 | €1,663 | -€94 | -5.3% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,434 | €13,018 | +€584 | +4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,700 | +€1,700 | |
| Other operating charges | 640/8 | €5,831 | €5,912 | +€81 | +1.4% |
| Gross operating margin | 9900 | €59,741 | €29,291 | -€30,450 | -51.0% |
| Operating profit (loss) | 9901 | €41,476 | €8,661 | -€32,814 | -79.1% |
| Financial income | 75/76B | €933 | €635 | -€298 | -31.9% |
| Recurring financial income | 75 | €933 | €635 | -€298 | -31.9% |
| Financial charges | 65/66B | €3,357 | €3,147 | -€210 | -6.3% |
| Recurring financial charges | 65 | €3,357 | €3,147 | -€210 | -6.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €39,051 | €6,149 | -€32,902 | -84.3% |
| Income taxes | 67/77 | €11,228 | €1,752 | -€9,477 | -84.4% |
| Profit (loss) for the period | 9904 | €27,823 | €4,398 | -€23,425 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,823 | €4,398 | -€23,425 | -84.2% |
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 21 October 2026 via checked.be.