GEERTRUI: 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.
GEERTRUI
Largest movements
- Financial fixed assets -€401,263
down €401,263 (-48.9%), from €821,137 to €419,874
- Cash +€177,832
up €177,832 (+3,768%), from €4,720 to €182,551
mainly Depreciation (+€165,122) and Investment in fixed assets (net) (+€143,353)
- Tangible fixed assets +€92,882
up €92,882 (+3.9%), from €2.4m to €2.5m
of which Land and buildings: +€100,041
- Receivables within one year -€57,505
down €57,505 (-21.1%), from €273,032 to €215,527
of which Trade receivables: -€188,319
- Trade debts -€114,623
down €114,623 (-93.6%), from €122,454 to €7,831
- Profit (loss) carried forward -€56,707
down €56,707 (-10.0%), from -€566,976 to -€623,684
- Depreciation -€129,276
down €129,276 (-43.9%), from €294,398 to €165,122
- Gross operating margin -€99,971
down €99,971 (-39.8%), from €250,928 to €150,957
- Financial charges +€16,337
up €16,337 (+190%), from €8,605 to €24,942
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 | €3,794,140 | €3,602,075 | -€192,066 | -5.1% |
| Fixed assets | 21/28 | €3,199,388 | €2,890,912 | -€308,475 | -9.6% |
| Intangible fixed assets | 21 | €1,511 | €1,416 | -€94 | -6.3% |
| Tangible fixed assets | 22/27 | €2,376,739 | €2,469,622 | +€92,882 | +3.9% |
| Land and buildings | 22 | €2,361,971 | €2,462,012 | +€100,041 | +4.2% |
| Furniture and vehicles | 24 | €14,768 | €7,610 | -€7,159 | -48.5% |
| Financial fixed assets | 28 | €821,137 | €419,874 | -€401,263 | -48.9% |
| Current assets | 29/58 | €594,753 | €711,162 | +€116,410 | +19.6% |
| Stocks and contracts in progress | 3 | €311,782 | €311,782 | = | 0.0% |
| Stocks | 30/36 | €311,782 | €311,782 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €273,032 | €215,527 | -€57,505 | -21.1% |
| Trade receivables | 40 | €269,289 | €80,970 | -€188,319 | -69.9% |
| Other amounts receivable | 41 | €3,743 | €134,557 | +€130,814 | +3,495% |
| Cash at bank and in hand | 54/58 | €4,720 | €182,551 | +€177,832 | +3,768% |
| Deferred charges and accrued income | 490/1 | €5,219 | €1,302 | -€3,918 | -75.1% |
| Total equity and liabilities | 10/49 | €3,794,140 | €3,602,075 | -€192,066 | -5.1% |
| Equity | 10/15 | €733,295 | €676,587 | -€56,707 | -7.7% |
| Contributions | 10/11 | €1,296,213 | €1,296,213 | = | 0.0% |
| Capital | 10 | €1,296,213 | €1,296,213 | = | 0.0% |
| Issued capital | 100 | €1,546,213 | €1,546,213 | = | 0.0% |
| Uncalled capital | 101 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €4,058 | €4,058 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,058 | €4,058 | = | 0.0% |
| Legal reserve | 130 | €4,058 | €4,058 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€566,976 | -€623,684 | -€56,707 | -10.0% |
| Provisions and deferred taxes | 16 | €60,015 | €60,015 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €60,015 | €60,015 | = | 0.0% |
| Pensions and similar obligations | 160 | €60,015 | €60,015 | = | 0.0% |
| Amounts payable | 17/49 | €3,000,831 | €2,865,472 | -€135,358 | -4.5% |
| Amounts payable after more than one year | 17 | €1,803,288 | €1,767,188 | -€36,100 | -2.0% |
| Financial debts | 170/4 | €1,803,288 | €1,767,188 | -€36,100 | -2.0% |
| Amounts payable within one year | 42/48 | €1,194,156 | €1,088,518 | -€105,639 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €36,100 | €36,100 | = | 0.0% |
| Trade debts | 44 | €122,454 | €7,831 | -€114,623 | -93.6% |
| Suppliers | 440/4 | €122,454 | €7,831 | -€114,623 | -93.6% |
| Taxes, remuneration and social security | 45 | €798 | €10,487 | +€9,689 | +1,214% |
| Taxes | 450/3 | €798 | €10,487 | +€9,689 | +1,214% |
| Other amounts payable | 47/48 | €1,034,804 | €1,034,099 | -€705 | -0.1% |
| Accrued charges and deferred income | 492/3 | €3,386 | €9,766 | +€6,381 | +188% |
| Non-recurring operating income | 76A | - | €6,335 | +€6,335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €294,398 | €165,122 | -€129,276 | -43.9% |
| Other operating charges | 640/8 | €16,008 | €17,715 | +€1,707 | +10.7% |
| Gross operating margin | 9900 | €250,928 | €150,957 | -€99,971 | -39.8% |
| Operating profit (loss) | 9901 | -€59,477 | -€31,879 | +€27,598 | +46.4% |
| Financial income | 75/76B | €1,743 | €132 | -€1,611 | -92.4% |
| Recurring financial income | 75 | €1,743 | €132 | -€1,611 | -92.4% |
| Financial charges | 65/66B | €8,605 | €24,942 | +€16,337 | +190% |
| Recurring financial charges | 65 | €8,605 | €24,942 | +€16,337 | +190% |
| Profit (loss) for the period before taxes | 9903 | -€66,339 | -€56,689 | +€9,650 | +14.5% |
| Income taxes | 67/77 | €61 | €18 | -€43 | -70.7% |
| Profit (loss) for the period | 9904 | -€66,400 | -€56,707 | +€9,693 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,400 | -€56,707 | +€9,693 | +14.6% |
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 21 October 2026 via checked.be.