GEERT SINNESAEL: 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 SINNESAEL
Largest movements
- Receivables after one year +€271,000
up €271,000 (+417%), from €65,000 to €336,000
- Current investments -€98,419
down €98,419 (-39.3%), from €250,641 to €152,222
- Cash -€53,162
down €53,162 (-65.0%), from €81,809 to €28,647
mainly Receivables after one year (-€271,000) and Other debts (-€56,018)
- Tangible fixed assets -€8,073
down €8,073 (-43.6%), from €18,514 to €10,441
of which Furniture and vehicles: -€7,637
- Reserves +€148,475
up €148,475 (+50.9%), from €291,710 to €440,185
- Other debts -€56,018
down €56,018 (-58.5%), from €95,767 to €39,749
- Tax, wage and social debts +€20,095
up €20,095 (+187%), from €10,725 to €30,820
- Financial income +€110,001
up €110,001 (+689%), from €15,967 to €125,968
of which Non-recurring financial income: +€122,018
- Taxes +€23,434
up €23,434 (+103%), from €22,706 to €46,140
- Gross operating margin -€3,044
down €3,044 (-3.6%), from €85,143 to €82,099
- Financial charges -€2,563
down €2,563 (-39.9%), from €6,423 to €3,860
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 | €417,064 | €529,686 | +€112,622 | +27.0% |
| Fixed assets | 21/28 | €18,514 | €10,441 | -€8,073 | -43.6% |
| Tangible fixed assets | 22/27 | €18,514 | €10,441 | -€8,073 | -43.6% |
| Furniture and vehicles | 24 | €16,906 | €9,269 | -€7,637 | -45.2% |
| Other tangible fixed assets | 26 | €1,608 | €1,172 | -€436 | -27.1% |
| Current assets | 29/58 | €398,550 | €519,245 | +€120,695 | +30.3% |
| Amounts receivable after more than one year | 29 | €65,000 | €336,000 | +€271,000 | +417% |
| Other amounts receivable | 291 | €65,000 | €336,000 | +€271,000 | +417% |
| Amounts receivable within one year | 40/41 | €1,100 | €15 | -€1,085 | -98.6% |
| Other amounts receivable | 41 | €1,100 | €15 | -€1,085 | -98.6% |
| Current investments | 50/53 | €250,641 | €152,222 | -€98,419 | -39.3% |
| Cash at bank and in hand | 54/58 | €81,809 | €28,647 | -€53,162 | -65.0% |
| Deferred charges and accrued income | 490/1 | - | €2,361 | +€2,361 | |
| Total equity and liabilities | 10/49 | €417,064 | €529,686 | +€112,622 | +27.0% |
| Equity | 10/15 | €310,310 | €458,785 | +€148,475 | +47.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €291,710 | €440,185 | +€148,475 | +50.9% |
| Distributable reserves | 133 | €291,710 | €440,185 | +€148,475 | +50.9% |
| Amounts payable | 17/49 | €106,754 | €70,901 | -€35,853 | -33.6% |
| Amounts payable within one year | 42/48 | €106,754 | €70,771 | -€35,983 | -33.7% |
| Trade debts | 44 | €262 | €202 | -€60 | -22.9% |
| Suppliers | 440/4 | €262 | €202 | -€60 | -22.9% |
| Taxes, remuneration and social security | 45 | €10,725 | €30,820 | +€20,095 | +187% |
| Taxes | 450/3 | €10,725 | €30,820 | +€20,095 | +187% |
| Other amounts payable | 47/48 | €95,767 | €39,749 | -€56,018 | -58.5% |
| Accrued charges and deferred income | 492/3 | - | €130 | +€130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,780 | €8,072 | -€708 | -8.1% |
| Other operating charges | 640/8 | €1,754 | €1,520 | -€234 | -13.3% |
| Gross operating margin | 9900 | €85,143 | €82,099 | -€3,044 | -3.6% |
| Operating profit (loss) | 9901 | €74,609 | €72,507 | -€2,102 | -2.8% |
| Financial income | 75/76B | €15,967 | €125,968 | +€110,001 | +689% |
| Recurring financial income | 75 | €15,967 | €3,950 | -€12,017 | -75.3% |
| Non-recurring financial income | 76B | - | €122,018 | +€122,018 | |
| Financial charges | 65/66B | €6,423 | €3,860 | -€2,563 | -39.9% |
| Recurring financial charges | 65 | €6,423 | €3,860 | -€2,563 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €84,153 | €194,615 | +€110,462 | +131% |
| Income taxes | 67/77 | €22,706 | €46,140 | +€23,434 | +103% |
| Profit (loss) for the period | 9904 | €61,447 | €148,475 | +€87,028 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €61,447 | €148,475 | +€87,028 | +142% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.