Geert Glas: 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 Glas
Largest movements
- Cash -€77,098
down €77,098 (-61.9%), from €124,541 to €47,443
mainly Tax, wage and social debts (-€91,859) and Receivables within one year (-€23,179)
- Receivables within one year +€23,179
up €23,179 (+54.4%), from €42,602 to €65,781
of which Trade receivables: +€15,008
- Tax, wage and social debts -€91,859
down €91,859 (-90.5%), from €101,501 to €9,643
- Other debts +€42,835
up €42,835 (+5.4%), from €786,870 to €829,705
- Trade debts -€21,629
down €21,629 (-97.2%), from €22,246 to €618
- Gross operating margin -€239,895
down €239,895 (-88.9%), from €269,749 to €29,854
- Taxes -€64,594
down €64,594 (-93.7%), from €68,917 to €4,323
- Financial income -€11,355
down €11,355 (-99.8%), from €11,374 to €19
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 | €1,899,403 | €1,837,875 | -€61,527 | -3.2% |
| Fixed assets | 21/28 | €14,416 | €6,588 | -€7,828 | -54.3% |
| Tangible fixed assets | 22/27 | €14,416 | €6,588 | -€7,828 | -54.3% |
| Furniture and vehicles | 24 | €14,416 | €6,588 | -€7,828 | -54.3% |
| Current assets | 29/58 | €1,884,987 | €1,831,288 | -€53,699 | -2.8% |
| Amounts receivable within one year | 40/41 | €42,602 | €65,781 | +€23,179 | +54.4% |
| Trade receivables | 40 | €40,925 | €55,933 | +€15,008 | +36.7% |
| Other amounts receivable | 41 | €1,677 | €9,848 | +€8,171 | +487% |
| Current investments | 50/53 | €1,717,049 | €1,717,049 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €124,541 | €47,443 | -€77,098 | -61.9% |
| Deferred charges and accrued income | 490/1 | €794 | €1,014 | +€220 | +27.7% |
| Total equity and liabilities | 10/49 | €1,899,403 | €1,837,875 | -€61,527 | -3.2% |
| Equity | 10/15 | €984,831 | €993,759 | +€8,928 | +0.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €964,831 | €973,759 | +€8,928 | +0.9% |
| Distributable reserves | 133 | €964,831 | €973,759 | +€8,928 | +0.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €914,571 | €844,117 | -€70,455 | -7.7% |
| Amounts payable within one year | 42/48 | €910,618 | €839,966 | -€70,652 | -7.8% |
| Trade debts | 44 | €22,246 | €618 | -€21,629 | -97.2% |
| Suppliers | 440/4 | €22,246 | €618 | -€21,629 | -97.2% |
| Taxes, remuneration and social security | 45 | €101,501 | €9,643 | -€91,859 | -90.5% |
| Taxes | 450/3 | €101,501 | €9,643 | -€91,859 | -90.5% |
| Other amounts payable | 47/48 | €786,870 | €829,705 | +€42,835 | +5.4% |
| Accrued charges and deferred income | 492/3 | €3,954 | €4,151 | +€197 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,828 | €7,828 | = | 0.0% |
| Other operating charges | 640/8 | €4,493 | €4,163 | -€329 | -7.3% |
| Gross operating margin | 9900 | €269,749 | €29,854 | -€239,895 | -88.9% |
| Operating profit (loss) | 9901 | €257,428 | €17,862 | -€239,566 | -93.1% |
| Financial income | 75/76B | €11,374 | €19 | -€11,355 | -99.8% |
| Recurring financial income | 75 | €11,374 | €19 | -€11,355 | -99.8% |
| Financial charges | 65/66B | €3,071 | €4,631 | +€1,561 | +50.8% |
| Recurring financial charges | 65 | €3,071 | €4,631 | +€1,561 | +50.8% |
| Profit (loss) for the period before taxes | 9903 | €265,732 | €13,250 | -€252,481 | -95.0% |
| Income taxes | 67/77 | €68,917 | €4,323 | -€64,594 | -93.7% |
| Profit (loss) for the period | 9904 | €196,815 | €8,928 | -€187,887 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €196,815 | €8,928 | -€187,887 | -95.5% |
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 17 October 2026 via checked.be.