GEERT VERSLUYS: 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 VERSLUYS
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+1316.7%), from €101,910 to €1.4m
of which Land and buildings: +€1.3m
- Receivables within one year +€320,016
up €320,016 (+47.7%), from €671,524 to €991,539
of which Trade receivables: +€280,928
- Cash -€57,310
down €57,310 (-68.1%), from €84,179 to €26,869
mainly Investment in fixed assets (net) (-€1.4m) and Receivables within one year (-€320,016)
- Revaluation surpluses +€1.4m
new in 2024: €1.4m
- Trade debts +€227,633
up €227,633 (+118.4%), from €192,250 to €419,883
- Other debts +€28,602
up €28,602 (+66.3%), from €43,149 to €71,751
- Gross operating margin -€61,625
down €61,625 (-69.0%), from €89,309 to €27,684
- Depreciation -€20,447
down €20,447 (-67.2%), from €30,424 to €9,977
- Other operating charges -€9,007
down €9,007 (-57.5%), from €15,655 to €6,648
- Financial charges -€2,717
down €2,717 (-52.4%), from €5,182 to €2,465
- Financial income +€2,399
up €2,399 (+38.3%), from €6,258 to €8,657
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €865,757 | €2,469,998 | +€1.6m | +185.3% |
| Fixed assets | 21/28 | €102,119 | €1,443,927 | +€1.3m | +1314.0% |
| Tangible fixed assets | 22/27 | €101,910 | €1,443,717 | +€1.3m | +1316.7% |
| Land and buildings | 22 | €100,500 | €1,442,515 | +€1.3m | +1335.3% |
| Plant, machinery and equipment | 23 | €1,410 | €1,202 | -€208 | -14.7% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €763,638 | €1,026,071 | +€262,432 | +34.4% |
| Amounts receivable within one year | 40/41 | €671,524 | €991,539 | +€320,016 | +47.7% |
| Trade receivables | 40 | €519,119 | €800,047 | +€280,928 | +54.1% |
| Other amounts receivable | 41 | €152,405 | €191,492 | +€39,088 | +25.6% |
| Cash at bank and in hand | 54/58 | €84,179 | €26,869 | -€57,310 | -68.1% |
| Deferred charges and accrued income | 490/1 | €7,935 | €7,662 | -€273 | -3.4% |
| Total equity and liabilities | 10/49 | €865,757 | €2,469,998 | +€1.6m | +185.3% |
| Equity | 10/15 | €590,383 | €1,957,487 | +€1.4m | +231.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,350,887 | +€1.4m | |
| Reserves | 13 | €74,973 | €74,973 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,065 | €37,065 | = | 0.0% |
| Legal reserve | 130 | €37,065 | €37,065 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,908 | €37,908 | = | 0.0% |
| Profit (loss) carried forward | 14 | €453,909 | €470,127 | +€16,218 | +3.6% |
| Amounts payable | 17/49 | €275,375 | €512,510 | +€237,136 | +86.1% |
| Amounts payable within one year | 42/48 | €275,375 | €512,408 | +€237,033 | +86.1% |
| Current portion of amounts payable after more than one year | 42 | €1,503 | - | -€1,503 | |
| Trade debts | 44 | €192,250 | €419,883 | +€227,633 | +118.4% |
| Suppliers | 440/4 | €192,250 | €419,883 | +€227,633 | +118.4% |
| Taxes, remuneration and social security | 45 | €38,473 | €20,774 | -€17,698 | -46.0% |
| Taxes | 450/3 | €38,473 | €20,774 | -€17,698 | -46.0% |
| Other amounts payable | 47/48 | €43,149 | €71,751 | +€28,602 | +66.3% |
| Accrued charges and deferred income | 492/3 | - | €103 | +€103 | |
| Non-recurring operating income | 76A | €905 | €4,115 | +€3,210 | +354.8% |
| Remuneration, social security and pensions | 62 | €760 | €904 | +€144 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,424 | €9,977 | -€20,447 | -67.2% |
| Other operating charges | 640/8 | €15,655 | €6,648 | -€9,007 | -57.5% |
| Non-recurring operating charges | 66A | €21,788 | €162 | -€21,626 | -99.3% |
| Gross operating margin | 9900 | €89,309 | €27,684 | -€61,625 | -69.0% |
| Operating profit (loss) | 9901 | €20,682 | €9,992 | -€10,690 | -51.7% |
| Financial income | 75/76B | €6,258 | €8,657 | +€2,399 | +38.3% |
| Recurring financial income | 75 | €6,258 | €8,657 | +€2,399 | +38.3% |
| Financial charges | 65/66B | €5,182 | €2,465 | -€2,717 | -52.4% |
| Recurring financial charges | 65 | €5,182 | €2,465 | -€2,717 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €21,758 | €16,184 | -€5,574 | -25.6% |
| Income taxes | 67/77 | €1,485 | -€34 | -€1,519 | |
| Profit (loss) for the period | 9904 | €20,273 | €16,218 | -€4,055 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,273 | €16,218 | -€4,055 | -20.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.