GEERT JACOBS: 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 JACOBS
Largest movements
- Receivables within one year +€25,241
up €25,241 (+22.8%), from €110,921 to €136,162
of which Other amounts receivable: +€20,482
- Cash -€24,212
down €24,212 (-84.6%), from €28,604 to €4,391
mainly Receivables within one year (-€25,241) and Net result for the year (-€6,467)
- Tangible fixed assets -€3,899
down €3,899 (-44.3%), from €8,800 to €4,901
of which Plant, machinery and equipment: -€2,278
- Stocks and contracts -€2,563
down €2,563 (-15.3%), from €16,739 to €14,176
- Reserves -€6,467
down €6,467 (-4.4%), from €148,482 to €142,015
- Gross operating margin -€9,545
down €9,545, from €8,187 to -€1,358
- Depreciation -€1,557
down €1,557 (-28.5%), from €5,456 to €3,899
- Taxes -€799
down €799 (-59.3%), from €1,347 to €549
- Financial charges -€211
down €211 (-51.4%), from €411 to €200
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 | €169,039 | €163,606 | -€5,434 | -3.2% |
| Fixed assets | 21/28 | €12,775 | €8,876 | -€3,899 | -30.5% |
| Tangible fixed assets | 22/27 | €8,800 | €4,901 | -€3,899 | -44.3% |
| Plant, machinery and equipment | 23 | €5,413 | €3,135 | -€2,278 | -42.1% |
| Furniture and vehicles | 24 | €3,388 | €1,766 | -€1,621 | -47.9% |
| Financial fixed assets | 28 | €3,975 | €3,975 | = | 0.0% |
| Current assets | 29/58 | €156,264 | €154,729 | -€1,535 | -1.0% |
| Stocks and contracts in progress | 3 | €16,739 | €14,176 | -€2,563 | -15.3% |
| Contracts in progress | 37 | €16,739 | €14,176 | -€2,563 | -15.3% |
| Amounts receivable within one year | 40/41 | €110,921 | €136,162 | +€25,241 | +22.8% |
| Trade receivables | 40 | €4,080 | €8,839 | +€4,759 | +117% |
| Other amounts receivable | 41 | €106,842 | €127,323 | +€20,482 | +19.2% |
| Cash at bank and in hand | 54/58 | €28,604 | €4,391 | -€24,212 | -84.6% |
| Total equity and liabilities | 10/49 | €169,039 | €163,606 | -€5,434 | -3.2% |
| Equity | 10/15 | €167,074 | €160,607 | -€6,467 | -3.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €148,482 | €142,015 | -€6,467 | -4.4% |
| Distributable reserves | 133 | €148,482 | €142,015 | -€6,467 | -4.4% |
| Amounts payable | 17/49 | €1,966 | €2,999 | +€1,033 | +52.6% |
| Amounts payable within one year | 42/48 | €1,966 | €2,999 | +€1,033 | +52.6% |
| Trade debts | 44 | €345 | €416 | +€72 | +20.8% |
| Suppliers | 440/4 | €345 | €416 | +€72 | +20.8% |
| Taxes, remuneration and social security | 45 | €1,347 | €1,896 | +€549 | +40.7% |
| Taxes | 450/3 | €1,347 | €1,896 | +€549 | +40.7% |
| Other amounts payable | 47/48 | €273 | €687 | +€413 | +151% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,456 | €3,899 | -€1,557 | -28.5% |
| Other operating charges | 640/8 | €1,256 | €1,186 | -€71 | -5.6% |
| Gross operating margin | 9900 | €8,187 | -€1,358 | -€9,545 | |
| Operating profit (loss) | 9901 | €1,475 | -€6,442 | -€7,917 | |
| Financial income | 75/76B | €681 | €723 | +€43 | +6.2% |
| Recurring financial income | 75 | €681 | €723 | +€43 | +6.2% |
| Financial charges | 65/66B | €411 | €200 | -€211 | -51.4% |
| Recurring financial charges | 65 | €411 | €200 | -€211 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €1,745 | -€5,919 | -€7,664 | |
| Income taxes | 67/77 | €1,347 | €549 | -€799 | -59.3% |
| Profit (loss) for the period | 9904 | €398 | -€6,467 | -€6,865 | |
| Profit (loss) for the period to be appropriated | 9905 | €398 | -€6,467 | -€6,865 |
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 29 October 2026 via checked.be.