Geert Spiloes: 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 Spiloes
Largest movements
- Tangible fixed assets -€26,062
down €26,062 (-15.0%), from €174,063 to €148,002
of which Furniture and vehicles: -€13,566
- Receivables within one year -€8,522
down €8,522 (-90.7%), from €9,401 to €879
of which Other amounts receivable: -€8,493
- Cash +€6,268
up €6,268 (+30.7%), from €20,405 to €26,673
mainly Depreciation (+€30,490) and Net result for the year (+€13,620)
- Current portion of long-term debt -€9,792
down €9,792 (-61.8%), from €15,846 to €6,054
- Debts after one year -€6,054
down €6,054 (-35.0%), from €17,299 to €11,245
- Reserves -€5,243
down €5,243 (-5.2%), from €101,222 to €95,979
- Other debts -€4,705
down €4,705 (-14.7%), from €32,058 to €27,353
- Gross operating margin +€8,336
up €8,336 (+18.3%), from €45,464 to €53,799
- Taxes +€3,493
up €3,493 (+114%), from €3,051 to €6,545
- Financial charges -€1,964
down €1,964 (-46.7%), from €4,207 to €2,243
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 | €204,975 | €176,002 | -€28,973 | -14.1% |
| Fixed assets | 21/28 | €174,212 | €148,151 | -€26,062 | -15.0% |
| Tangible fixed assets | 22/27 | €174,063 | €148,002 | -€26,062 | -15.0% |
| Plant, machinery and equipment | 23 | €10,860 | €7,947 | -€2,914 | -26.8% |
| Furniture and vehicles | 24 | €55,013 | €41,447 | -€13,566 | -24.7% |
| Other tangible fixed assets | 26 | €108,190 | €98,608 | -€9,582 | -8.9% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €30,763 | €27,852 | -€2,911 | -9.5% |
| Amounts receivable within one year | 40/41 | €9,401 | €879 | -€8,522 | -90.7% |
| Trade receivables | 40 | €452 | €424 | -€28 | -6.3% |
| Other amounts receivable | 41 | €8,949 | €455 | -€8,493 | -94.9% |
| Cash at bank and in hand | 54/58 | €20,405 | €26,673 | +€6,268 | +30.7% |
| Deferred charges and accrued income | 490/1 | €957 | €300 | -€658 | -68.7% |
| Total equity and liabilities | 10/49 | €204,975 | €176,002 | -€28,973 | -14.1% |
| Equity | 10/15 | €131,222 | €125,979 | -€5,243 | -4.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €101,222 | €95,979 | -€5,243 | -5.2% |
| Distributable reserves | 133 | €101,222 | €95,979 | -€5,243 | -5.2% |
| Amounts payable | 17/49 | €73,753 | €50,024 | -€23,730 | -32.2% |
| Amounts payable after more than one year | 17 | €17,299 | €11,245 | -€6,054 | -35.0% |
| Financial debts | 170/4 | €17,299 | €11,245 | -€6,054 | -35.0% |
| Amounts payable within one year | 42/48 | €55,195 | €38,088 | -€17,107 | -31.0% |
| Current portion of amounts payable after more than one year | 42 | €15,846 | €6,054 | -€9,792 | -61.8% |
| Financial debts | 43 | €2,032 | - | -€2,032 | |
| Credit institutions | 430/8 | €2,032 | - | -€2,032 | |
| Trade debts | 44 | €542 | €326 | -€216 | -39.8% |
| Suppliers | 440/4 | €542 | €326 | -€216 | -39.8% |
| Taxes, remuneration and social security | 45 | €4,717 | €4,356 | -€361 | -7.7% |
| Taxes | 450/3 | €4,717 | €4,356 | -€361 | -7.7% |
| Other amounts payable | 47/48 | €32,058 | €27,353 | -€4,705 | -14.7% |
| Accrued charges and deferred income | 492/3 | €1,260 | €691 | -€569 | -45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,598 | €30,490 | -€108 | -0.4% |
| Other operating charges | 640/8 | €876 | €902 | +€26 | +3.0% |
| Non-recurring operating charges | 66A | €58 | - | -€58 | |
| Gross operating margin | 9900 | €45,464 | €53,799 | +€8,336 | +18.3% |
| Operating profit (loss) | 9901 | €13,932 | €22,407 | +€8,476 | +60.8% |
| Financial charges | 65/66B | €4,207 | €2,243 | -€1,964 | -46.7% |
| Recurring financial charges | 65 | €4,207 | €2,243 | -€1,964 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €9,725 | €20,165 | +€10,440 | +107% |
| Income taxes | 67/77 | €3,051 | €6,545 | +€3,493 | +114% |
| Profit (loss) for the period | 9904 | €6,673 | €13,620 | +€6,947 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €6,673 | €13,620 | +€6,947 | +104% |
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 20 October 2026 via checked.be.