GEERTRUI DE SMET: 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 DE SMET
Largest movements
- Cash +€29,632
up €29,632 (+23.3%), from €127,355 to €156,987
mainly Depreciation (+€26,228) and Net result for the year (+€9,169)
- Tangible fixed assets -€23,214
down €23,214 (-49.4%), from €46,984 to €23,770
- Reserves +€9,169
up €9,169 (+5.8%), from €157,703 to €166,872
- Gross operating margin -€15,666
down €15,666 (-27.7%), from €56,484 to €40,818
- Depreciation -€8,842
down €8,842 (-25.2%), from €35,070 to €26,228
- Taxes -€3,105
down €3,105 (-41.2%), from €7,533 to €4,428
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 | €176,584 | €184,768 | +€8,183 | +4.6% |
| Fixed assets | 21/28 | €49,229 | €26,016 | -€23,214 | -47.2% |
| Tangible fixed assets | 22/27 | €46,984 | €23,770 | -€23,214 | -49.4% |
| Plant, machinery and equipment | 23 | €13,608 | €4,567 | -€9,041 | -66.4% |
| Furniture and vehicles | 24 | €14,876 | €10,000 | -€4,876 | -32.8% |
| Other tangible fixed assets | 26 | €18,500 | €9,203 | -€9,297 | -50.3% |
| Financial fixed assets | 28 | €2,246 | €2,246 | = | 0.0% |
| Current assets | 29/58 | €127,355 | €158,752 | +€31,397 | +24.7% |
| Amounts receivable within one year | 40/41 | - | €1,765 | +€1,765 | |
| Other amounts receivable | 41 | - | €1,765 | +€1,765 | |
| Cash at bank and in hand | 54/58 | €127,355 | €156,987 | +€29,632 | +23.3% |
| Total equity and liabilities | 10/49 | €176,584 | €184,768 | +€8,183 | +4.6% |
| Equity | 10/15 | €170,106 | €179,275 | +€9,169 | +5.4% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €157,703 | €166,872 | +€9,169 | +5.8% |
| Distributable reserves | 133 | €157,703 | €166,872 | +€9,169 | +5.8% |
| Amounts payable | 17/49 | €6,479 | €5,493 | -€986 | -15.2% |
| Amounts payable after more than one year | 17 | €2,557 | €1,469 | -€1,088 | -42.6% |
| Other amounts payable | 178/9 | €2,557 | €1,469 | -€1,088 | -42.6% |
| Amounts payable within one year | 42/48 | €3,922 | €4,024 | +€102 | +2.6% |
| Trade debts | 44 | €3,461 | €4,024 | +€563 | +16.3% |
| Suppliers | 440/4 | €3,461 | €4,024 | +€563 | +16.3% |
| Taxes, remuneration and social security | 45 | €461 | - | -€461 | |
| Taxes | 450/3 | €461 | - | -€461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,070 | €26,228 | -€8,842 | -25.2% |
| Other operating charges | 640/8 | €1,572 | €1,517 | -€55 | -3.5% |
| Gross operating margin | 9900 | €56,484 | €40,818 | -€15,666 | -27.7% |
| Operating profit (loss) | 9901 | €19,842 | €13,073 | -€6,769 | -34.1% |
| Financial income | 75/76B | €241 | €645 | +€404 | +168% |
| Recurring financial income | 75 | €241 | €645 | +€404 | +168% |
| Financial charges | 65/66B | €112 | €120 | +€9 | +7.9% |
| Recurring financial charges | 65 | €112 | €120 | +€9 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €19,972 | €13,598 | -€6,374 | -31.9% |
| Income taxes | 67/77 | €7,533 | €4,428 | -€3,105 | -41.2% |
| Profit (loss) for the period | 9904 | €12,438 | €9,169 | -€3,269 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,438 | €9,169 | -€3,269 | -26.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.