Geert Van Houtte: 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 Van Houtte
Largest movements
- Tangible fixed assets -€5,111
down €5,111 (-31.2%), from €16,392 to €11,281
of which Furniture and vehicles: -€3,409
- Deferred charges and accrued income -€4,933
down €4,933 (-49.7%), from €9,917 to €4,984
- Cash +€3,190
up €3,190 (+14.2%), from €22,392 to €25,582
mainly Net result for the year (+€9,816) and Depreciation (+€5,111)
- Receivables within one year +€1,706
up €1,706 (+8.7%), from €19,718 to €21,424
of which Trade receivables: +€2,979
- Reserves +€9,816
up €9,816 (+7.4%), from €133,378 to €143,194
of which Distributable reserves: +€9,816
- Current portion of long-term debt -€8,846
down €8,846 (-66.4%), from €13,331 to €4,484
- Debts after one year -€4,484
down €4,484 (-100.0%), from €4,484 to €0
- Depreciation -€11,993
down €11,993 (-70.1%), from €17,104 to €5,111
- Gross operating margin -€6,119
down €6,119 (-23.8%), from €25,715 to €19,596
- Taxes +€1,829
up €1,829 (+64.4%), from €2,841 to €4,669
- Other operating charges -€1,558
down €1,558 (-68.1%), from €2,287 to €728
- Write-downs +€1,200
up €1,200, from -€1,200 to €0
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.
Cash bridge derived
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 | €168,419 | €163,271 | -€5,148 | -3.1% |
| Fixed assets | 21/28 | €16,392 | €11,281 | -€5,111 | -31.2% |
| Tangible fixed assets | 22/27 | €16,392 | €11,281 | -€5,111 | -31.2% |
| Land and buildings | 22 | €12,843 | €11,242 | -€1,601 | -12.5% |
| Plant, machinery and equipment | 23 | €140 | €39 | -€101 | -72.1% |
| Furniture and vehicles | 24 | €3,409 | €0 | -€3,409 | -100.0% |
| Current assets | 29/58 | €152,027 | €151,990 | -€37 | 0.0% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €19,718 | €21,424 | +€1,706 | +8.7% |
| Trade receivables | 40 | €16,480 | €19,459 | +€2,979 | +18.1% |
| Other amounts receivable | 41 | €3,238 | €1,965 | -€1,273 | -39.3% |
| Cash at bank and in hand | 54/58 | €22,392 | €25,582 | +€3,190 | +14.2% |
| Deferred charges and accrued income | 490/1 | €9,917 | €4,984 | -€4,933 | -49.7% |
| Total equity and liabilities | 10/49 | €168,419 | €163,271 | -€5,148 | -3.1% |
| Equity | 10/15 | €140,671 | €150,488 | +€9,816 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €133,378 | €143,194 | +€9,816 | +7.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,143 | €3,143 | = | 0.0% |
| Distributable reserves | 133 | €128,375 | €138,192 | +€9,816 | +7.6% |
| Profit (loss) carried forward | 14 | €1,093 | €1,093 | = | 0.0% |
| Amounts payable | 17/49 | €27,748 | €12,783 | -€14,965 | -53.9% |
| Amounts payable after more than one year | 17 | €4,484 | €0 | -€4,484 | -100.0% |
| Financial debts | 170/4 | €4,484 | €0 | -€4,484 | -100.0% |
| Amounts payable within one year | 42/48 | €23,263 | €12,783 | -€10,480 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €13,331 | €4,484 | -€8,846 | -66.4% |
| Trade debts | 44 | €5,009 | €4,885 | -€123 | -2.5% |
| Suppliers | 440/4 | €5,009 | €4,885 | -€123 | -2.5% |
| Taxes, remuneration and social security | 45 | €4,840 | €3,246 | -€1,595 | -32.9% |
| Taxes | 450/3 | €2,039 | €3,246 | +€1,207 | +59.2% |
| Remuneration and social security | 454/9 | €2,801 | €0 | -€2,801 | -100.0% |
| Other amounts payable | 47/48 | €84 | €168 | +€84 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,104 | €5,111 | -€11,993 | -70.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,200 | €0 | +€1,200 | |
| Other operating charges | 640/8 | €2,287 | €728 | -€1,558 | -68.1% |
| Gross operating margin | 9900 | €25,715 | €19,596 | -€6,119 | -23.8% |
| Operating profit (loss) | 9901 | €7,523 | €13,756 | +€6,233 | +82.8% |
| Financial income | 75/76B | €1,493 | €1,500 | +€7 | +0.4% |
| Recurring financial income | 75 | €1,493 | €1,500 | +€7 | +0.4% |
| Financial charges | 65/66B | €939 | €771 | -€168 | -17.9% |
| Recurring financial charges | 65 | €939 | €771 | -€168 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €8,078 | €14,486 | +€6,408 | +79.3% |
| Income taxes | 67/77 | €2,841 | €4,669 | +€1,829 | +64.4% |
| Profit (loss) for the period | 9904 | €5,237 | €9,816 | +€4,579 | +87.4% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €5,237 | €9,816 | +€4,579 | +87.4% |
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 12 October 2026 via checked.be.