GEERT VAN DYCK: what changed
GEERT VAN DYCK
Largest movements
- Tangible fixed assets +€219,077
up €219,077 (+27.7%), from €790,281 to €1.0m
of which Assets under construction and advance payments: +€219,987
- Financial fixed assets +€141,099
up €141,099 (+103%), from €136,612 to €277,711
- Receivables within one year -€118,165
down €118,165 (-62.5%), from €188,924 to €70,759
of which Other amounts receivable: -€149,284
- Cash +€64,396
up €64,396 (+278%), from €23,203 to €87,600
mainly Net result for the year (+€362,771) and Debts after one year (+€221,863)
- Stocks and contracts +€57,211
up €57,211 (+112%), from €50,993 to €108,204
- Reserves +€250,000
up €250,000 (+13,441%), from €1,860 to €251,860
of which Distributable reserves: +€250,000
- Debts after one year +€221,863
up €221,863 (+49.0%), from €452,506 to €674,369
- Current portion of long-term debt -€114,653
down €114,653 (-84.4%), from €135,852 to €21,199
- Tax, wage and social debts +€42,009
up €42,009 (+939%), from €4,476 to €46,485
- Other debts -€26,847
down €26,847 (-21.2%), from €126,527 to €99,680
- Financial income +€163,984
up €163,984 (+87.3%), from €187,914 to €351,898
- Taxes +€21,074
up €21,074 (+98.7%), from €21,348 to €42,422
- Financial charges +€9,770
up €9,770 (+93.3%), from €10,471 to €20,241
- Gross operating margin +€7,631
up €7,631 (+8.0%), from €95,901 to €103,532
- Depreciation +€6,681
up €6,681 (+35.6%), from €18,788 to €25,469
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,364,016 | €1,731,749 | +€367,733 | +27.0% |
| Fixed assets | 21/28 | €926,893 | €1,287,068 | +€360,176 | +38.9% |
| Tangible fixed assets | 22/27 | €790,281 | €1,009,357 | +€219,077 | +27.7% |
| Land and buildings | 22 | €557,628 | €542,996 | -€14,632 | -2.6% |
| Furniture and vehicles | 24 | €40,410 | €34,119 | -€6,291 | -15.6% |
| Other tangible fixed assets | 26 | €31,362 | €51,375 | +€20,013 | +63.8% |
| Assets under construction and advance payments | 27 | €160,881 | €380,868 | +€219,987 | +137% |
| Financial fixed assets | 28 | €136,612 | €277,711 | +€141,099 | +103% |
| Current assets | 29/58 | €437,123 | €444,680 | +€7,557 | +1.7% |
| Stocks and contracts in progress | 3 | €50,993 | €108,204 | +€57,211 | +112% |
| Stocks | 30/36 | €50,993 | €108,204 | +€57,211 | +112% |
| Amounts receivable within one year | 40/41 | €188,924 | €70,759 | -€118,165 | -62.5% |
| Trade receivables | 40 | €0 | €31,119 | +€31,119 | |
| Other amounts receivable | 41 | €188,924 | €39,640 | -€149,284 | -79.0% |
| Current investments | 50/53 | €136,411 | €142,411 | +€6,000 | +4.4% |
| Cash at bank and in hand | 54/58 | €23,203 | €87,600 | +€64,396 | +278% |
| Deferred charges and accrued income | 490/1 | €37,592 | €35,707 | -€1,885 | -5.0% |
| Total equity and liabilities | 10/49 | €1,364,016 | €1,731,749 | +€367,733 | +27.0% |
| Equity | 10/15 | €617,472 | €880,243 | +€262,771 | +42.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €251,860 | +€250,000 | +13,441% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €250,000 | +€250,000 | |
| Profit (loss) carried forward | 14 | €597,012 | €609,783 | +€12,771 | +2.1% |
| Amounts payable | 17/49 | €746,544 | €851,506 | +€104,962 | +14.1% |
| Amounts payable after more than one year | 17 | €452,506 | €674,369 | +€221,863 | +49.0% |
| Financial debts | 170/4 | €452,506 | €674,369 | +€221,863 | +49.0% |
| Amounts payable within one year | 42/48 | €294,038 | €177,137 | -€116,901 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €135,852 | €21,199 | -€114,653 | -84.4% |
| Financial debts | 43 | €14,936 | €0 | -€14,936 | -100% |
| Credit institutions | 430/8 | €14,936 | €0 | -€14,936 | -100% |
| Trade debts | 44 | €12,246 | €9,773 | -€2,473 | -20.2% |
| Suppliers | 440/4 | €12,246 | €9,773 | -€2,473 | -20.2% |
| Taxes, remuneration and social security | 45 | €4,476 | €46,485 | +€42,009 | +939% |
| Taxes | 450/3 | €4,476 | €46,485 | +€42,009 | +939% |
| Other amounts payable | 47/48 | €126,527 | €99,680 | -€26,847 | -21.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,788 | €25,469 | +€6,681 | +35.6% |
| Other operating charges | 640/8 | €5,830 | €4,527 | -€1,303 | -22.4% |
| Gross operating margin | 9900 | €95,901 | €103,532 | +€7,631 | +8.0% |
| Operating profit (loss) | 9901 | €71,283 | €73,535 | +€2,252 | +3.2% |
| Financial income | 75/76B | €187,914 | €351,898 | +€163,984 | +87.3% |
| Recurring financial income | 75 | €187,914 | €351,898 | +€163,984 | +87.3% |
| Financial charges | 65/66B | €10,471 | €20,241 | +€9,770 | +93.3% |
| Recurring financial charges | 65 | €10,471 | €20,241 | +€9,770 | +93.3% |
| Profit (loss) for the period before taxes | 9903 | €248,726 | €405,193 | +€156,467 | +62.9% |
| Income taxes | 67/77 | €21,348 | €42,422 | +€21,074 | +98.7% |
| Profit (loss) for the period | 9904 | €227,378 | €362,771 | +€135,393 | +59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €227,378 | €362,771 | +€135,393 | +59.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.