GEERT VRINTS: 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 VRINTS
Largest movements
- Cash +€47,237
up €47,237 (+71.2%), from €66,350 to €113,587
mainly Net result for the year (+€70,102) and Depreciation (+€54,273)
- Tangible fixed assets -€33,269
down €33,269 (-15.0%), from €222,220 to €188,951
of which Furniture and vehicles: -€20,784
- Receivables within one year -€15,069
down €15,069 (-46.1%), from €32,673 to €17,604
of which Trade receivables: -€7,827
- Other debts +€29,419
up €29,419 (+172%), from €17,148 to €46,567
- Debts after one year -€25,989
down €25,989 (-21.6%), from €120,459 to €94,470
- Reserves +€12,309
up €12,309 (+8.3%), from €148,175 to €160,485
- Trade debts -€11,244
down €11,244 (-74.7%), from €15,048 to €3,804
- Current portion of long-term debt -€5,853
down €5,853 (-18.4%), from €31,842 to €25,989
- Gross operating margin +€64,965
up €64,965 (+38.1%), from €170,597 to €235,562
- Taxes +€17,065
up €17,065 (+127%), from €13,448 to €30,513
- Staff costs +€8,096
up €8,096 (+12.6%), from €64,407 to €72,503
- Depreciation -€4,780
down €4,780 (-8.1%), from €59,053 to €54,273
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 | €342,756 | €339,945 | -€2,811 | -0.8% |
| Fixed assets | 21/28 | €222,535 | €189,266 | -€33,269 | -15.0% |
| Tangible fixed assets | 22/27 | €222,220 | €188,951 | -€33,269 | -15.0% |
| Land and buildings | 22 | €117,010 | €107,666 | -€9,344 | -8.0% |
| Plant, machinery and equipment | 23 | €11,999 | €9,853 | -€2,146 | -17.9% |
| Furniture and vehicles | 24 | €90,240 | €69,456 | -€20,784 | -23.0% |
| Other tangible fixed assets | 26 | €2,971 | €1,975 | -€996 | -33.5% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €120,222 | €150,680 | +€30,458 | +25.3% |
| Stocks and contracts in progress | 3 | €18,025 | €15,465 | -€2,560 | -14.2% |
| Stocks | 30/36 | €18,025 | €15,465 | -€2,560 | -14.2% |
| Amounts receivable within one year | 40/41 | €32,673 | €17,604 | -€15,069 | -46.1% |
| Trade receivables | 40 | €25,056 | €17,229 | -€7,827 | -31.2% |
| Other amounts receivable | 41 | €7,617 | €375 | -€7,242 | -95.1% |
| Cash at bank and in hand | 54/58 | €66,350 | €113,587 | +€47,237 | +71.2% |
| Deferred charges and accrued income | 490/1 | €3,174 | €4,024 | +€850 | +26.8% |
| Total equity and liabilities | 10/49 | €342,756 | €339,945 | -€2,811 | -0.8% |
| Equity | 10/15 | €151,675 | €163,985 | +€12,309 | +8.1% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €148,175 | €160,485 | +€12,309 | +8.3% |
| Distributable reserves | 133 | €148,175 | €160,485 | +€12,309 | +8.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €191,081 | €175,960 | -€15,121 | -7.9% |
| Amounts payable after more than one year | 17 | €120,459 | €94,470 | -€25,989 | -21.6% |
| Financial debts | 170/4 | €120,459 | €94,470 | -€25,989 | -21.6% |
| Amounts payable within one year | 42/48 | €70,622 | €81,491 | +€10,869 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €31,842 | €25,989 | -€5,853 | -18.4% |
| Trade debts | 44 | €15,048 | €3,804 | -€11,244 | -74.7% |
| Suppliers | 440/4 | €15,048 | €3,804 | -€11,244 | -74.7% |
| Taxes, remuneration and social security | 45 | €6,584 | €5,131 | -€1,453 | -22.1% |
| Taxes | 450/3 | €285 | €931 | +€646 | +227% |
| Remuneration and social security | 454/9 | €6,299 | €4,200 | -€2,099 | -33.3% |
| Other amounts payable | 47/48 | €17,148 | €46,567 | +€29,419 | +172% |
| Remuneration, social security and pensions | 62 | €64,407 | €72,503 | +€8,096 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,053 | €54,273 | -€4,780 | -8.1% |
| Other operating charges | 640/8 | €4,018 | €3,675 | -€343 | -8.5% |
| Gross operating margin | 9900 | €170,597 | €235,562 | +€64,965 | +38.1% |
| Operating profit (loss) | 9901 | €43,120 | €105,112 | +€61,992 | +144% |
| Financial income | 75/76B | €150 | €316 | +€166 | +111% |
| Recurring financial income | 75 | €150 | €316 | +€166 | +111% |
| Financial charges | 65/66B | €5,396 | €4,813 | -€583 | -10.8% |
| Recurring financial charges | 65 | €5,396 | €4,813 | -€583 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €37,874 | €100,615 | +€62,741 | +166% |
| Income taxes | 67/77 | €13,448 | €30,513 | +€17,065 | +127% |
| Profit (loss) for the period | 9904 | €24,427 | €70,102 | +€45,676 | +187% |
| Profit (loss) for the period to be appropriated | 9905 | €24,427 | €70,102 | +€45,676 | +187% |
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 16 October 2026 via checked.be.