Geert Wille: 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 Wille
Largest movements
- Tangible fixed assets +€263,317
up €263,317 (+1,385%), from €19,010 to €282,327
of which Assets under construction and advance payments: +€270,170
- Receivables within one year +€14,238
up €14,238 (+68.7%), from €20,713 to €34,951
of which Trade receivables: +€14,948
- Cash -€12,783
down €12,783 (-21.3%), from €59,982 to €47,199
mainly Investment in fixed assets (net) (-€272,424) and Contributions, distributions and other (-€48,647)
- Debts after one year +€263,543
new in 2025: €263,543
- Reserves -€48,647
no longer reported in 2025 (was €48,647)
- Profit (loss) carried forward +€29,473
new in 2025: €29,473
- Other debts +€18,577
up €18,577 (+62.3%), from €29,817 to €48,394
- Gross operating margin -€16,798
down €16,798 (-26.7%), from €62,848 to €46,049
- Taxes -€9,764
down €9,764 (-86.7%), from €11,261 to €1,496
- Other operating charges +€3,349
up €3,349 (+1,236%), from €271 to €3,620
- Depreciation +€908
up €908 (+11.1%), from €8,199 to €9,107
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 | €101,852 | €366,341 | +€264,489 | +260% |
| Fixed assets | 21/28 | €19,010 | €282,327 | +€263,317 | +1,385% |
| Tangible fixed assets | 22/27 | €19,010 | €282,327 | +€263,317 | +1,385% |
| Plant, machinery and equipment | 23 | €668 | €1,124 | +€456 | +68.3% |
| Furniture and vehicles | 24 | €4,056 | €2,304 | -€1,752 | -43.2% |
| Leasing and similar rights | 25 | €5,606 | €1,455 | -€4,151 | -74.0% |
| Other tangible fixed assets | 26 | €8,681 | €7,274 | -€1,407 | -16.2% |
| Assets under construction and advance payments | 27 | - | €270,170 | +€270,170 | |
| Current assets | 29/58 | €82,842 | €84,014 | +€1,172 | +1.4% |
| Amounts receivable within one year | 40/41 | €20,713 | €34,951 | +€14,238 | +68.7% |
| Trade receivables | 40 | €15,000 | €29,948 | +€14,948 | +99.7% |
| Other amounts receivable | 41 | €5,713 | €5,004 | -€709 | -12.4% |
| Cash at bank and in hand | 54/58 | €59,982 | €47,199 | -€12,783 | -21.3% |
| Deferred charges and accrued income | 490/1 | €2,148 | €1,864 | -€284 | -13.2% |
| Total equity and liabilities | 10/49 | €101,852 | €366,341 | +€264,489 | +260% |
| Equity | 10/15 | €67,247 | €48,073 | -€19,175 | -28.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,647 | - | -€48,647 | |
| Distributable reserves | 133 | €48,647 | - | -€48,647 | |
| Profit (loss) carried forward | 14 | - | €29,473 | +€29,473 | |
| Amounts payable | 17/49 | €34,605 | €318,268 | +€283,663 | +820% |
| Amounts payable after more than one year | 17 | - | €263,543 | +€263,543 | |
| Financial debts | 170/4 | - | €263,543 | +€263,543 | |
| Amounts payable within one year | 42/48 | €32,507 | €54,726 | +€22,219 | +68.3% |
| Financial debts | 43 | €202 | €1,270 | +€1,067 | +527% |
| Credit institutions | 430/8 | €202 | €1,270 | +€1,067 | +527% |
| Trade debts | 44 | €2,488 | €2,939 | +€452 | +18.2% |
| Suppliers | 440/4 | €2,488 | €2,939 | +€452 | +18.2% |
| Taxes, remuneration and social security | 45 | - | €2,122 | +€2,122 | |
| Taxes | 450/3 | - | €2,122 | +€2,122 | |
| Other amounts payable | 47/48 | €29,817 | €48,394 | +€18,577 | +62.3% |
| Accrued charges and deferred income | 492/3 | €2,098 | - | -€2,098 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,199 | €9,107 | +€908 | +11.1% |
| Other operating charges | 640/8 | €271 | €3,620 | +€3,349 | +1,236% |
| Gross operating margin | 9900 | €62,848 | €46,049 | -€16,798 | -26.7% |
| Operating profit (loss) | 9901 | €54,377 | €33,322 | -€21,055 | -38.7% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €2,691 | €2,360 | -€330 | -12.3% |
| Recurring financial charges | 65 | €2,691 | €2,360 | -€330 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €51,687 | €30,969 | -€20,717 | -40.1% |
| Income taxes | 67/77 | €11,261 | €1,496 | -€9,764 | -86.7% |
| Profit (loss) for the period | 9904 | €40,426 | €29,473 | -€10,953 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,426 | €29,473 | -€10,953 | -27.1% |
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 25 October 2026 via checked.be.