Geerts: what changed
Geerts
Largest movements
- Cash +€205,703
up €205,703 (+159%), from €129,741 to €335,443
mainly Stocks and contracts (+€133,654) and Receivables within one year (+€55,692)
- Stocks and contracts -€133,654
down €133,654 (-86.9%), from €153,814 to €20,160
of which Stocks: -€133,654
- Receivables within one year -€55,692
down €55,692 (-51.8%), from €107,600 to €51,908
of which Trade receivables: -€63,018
- Tangible fixed assets -€29,921
down €29,921 (-19.2%), from €155,945 to €126,023
of which Furniture and vehicles: -€22,496
- Deferred charges and accrued income -€13,047
down €13,047 (-72.4%), from €18,010 to €4,963
- Trade debts -€33,670
down €33,670 (-76.3%), from €44,128 to €10,458
- Reserves +€23,595
up €23,595 (+6.0%), from €390,618 to €414,213
of which Distributable reserves: +€23,595
- Tax, wage and social debts -€12,801
down €12,801 (-75.8%), from €16,893 to €4,092
of which Remuneration and social security: -€14,354
- Staff costs -€296,515
down €296,515 (-81.2%), from €365,191 to €68,676
- Gross operating margin -€275,477
down €275,477 (-65.8%), from €418,955 to €143,477
- Depreciation +€7,116
up €7,116 (+29.7%), from €23,998 to €31,114
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €565,109 | €538,498 | -€26,611 | -4.7% |
| Fixed assets | 21/28 | €155,945 | €126,023 | -€29,921 | -19.2% |
| Tangible fixed assets | 22/27 | €155,945 | €126,023 | -€29,921 | -19.2% |
| Plant, machinery and equipment | 23 | €2,716 | €1,857 | -€860 | -31.6% |
| Furniture and vehicles | 24 | €93,744 | €71,248 | -€22,496 | -24.0% |
| Other tangible fixed assets | 26 | €59,485 | €52,919 | -€6,566 | -11.0% |
| Current assets | 29/58 | €409,164 | €412,475 | +€3,310 | +0.8% |
| Stocks and contracts in progress | 3 | €153,814 | €20,160 | -€133,654 | -86.9% |
| Stocks | 30/36 | €153,814 | €20,160 | -€133,654 | -86.9% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €107,600 | €51,908 | -€55,692 | -51.8% |
| Trade receivables | 40 | €100,841 | €37,823 | -€63,018 | -62.5% |
| Other amounts receivable | 41 | €6,759 | €14,085 | +€7,326 | +108% |
| Cash at bank and in hand | 54/58 | €129,741 | €335,443 | +€205,703 | +159% |
| Deferred charges and accrued income | 490/1 | €18,010 | €4,963 | -€13,047 | -72.4% |
| Total equity and liabilities | 10/49 | €565,109 | €538,498 | -€26,611 | -4.7% |
| Equity | 10/15 | €452,618 | €476,213 | +€23,595 | +5.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €390,618 | €414,213 | +€23,595 | +6.0% |
| Non-distributable reserves | 130/1 | €6,342 | €6,342 | = | 0.0% |
| Legal reserve | 130 | €6,342 | €6,342 | = | 0.0% |
| Distributable reserves | 133 | €384,276 | €407,871 | +€23,595 | +6.1% |
| Amounts payable | 17/49 | €112,492 | €62,285 | -€50,207 | -44.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €112,492 | €61,512 | -€50,979 | -45.3% |
| Current portion of amounts payable after more than one year | 42 | €836 | €0 | -€836 | -100% |
| Financial debts | 43 | €243 | €874 | +€631 | +259% |
| Other loans | 439 | €243 | €874 | +€631 | +259% |
| Trade debts | 44 | €44,128 | €10,458 | -€33,670 | -76.3% |
| Suppliers | 440/4 | €44,128 | €10,458 | -€33,670 | -76.3% |
| Taxes, remuneration and social security | 45 | €16,893 | €4,092 | -€12,801 | -75.8% |
| Taxes | 450/3 | €2,008 | €3,561 | +€1,553 | +77.3% |
| Remuneration and social security | 454/9 | €14,885 | €531 | -€14,354 | -96.4% |
| Other amounts payable | 47/48 | €50,391 | €46,088 | -€4,303 | -8.5% |
| Accrued charges and deferred income | 492/3 | - | €773 | +€773 | |
| Non-recurring operating income | 76A | €15,197 | €4,700 | -€10,497 | -69.1% |
| Remuneration, social security and pensions | 62 | €365,191 | €68,676 | -€296,515 | -81.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,998 | €31,114 | +€7,116 | +29.7% |
| Other operating charges | 640/8 | €3,322 | €2,493 | -€829 | -24.9% |
| Non-recurring operating charges | 66A | - | €3,082 | +€3,082 | |
| Gross operating margin | 9900 | €418,955 | €143,477 | -€275,477 | -65.8% |
| Operating profit (loss) | 9901 | €26,444 | €38,112 | +€11,668 | +44.1% |
| Financial income | 75/76B | €1,835 | €868 | -€967 | -52.7% |
| Recurring financial income | 75 | €1,835 | €868 | -€967 | -52.7% |
| Financial charges | 65/66B | €5,739 | €2,615 | -€3,124 | -54.4% |
| Recurring financial charges | 65 | €5,739 | €2,615 | -€3,124 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | €22,540 | €36,365 | +€13,825 | +61.3% |
| Income taxes | 67/77 | €8,936 | €12,770 | +€3,834 | +42.9% |
| Profit (loss) for the period | 9904 | €13,605 | €23,595 | +€9,990 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,605 | €23,595 | +€9,990 | +73.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.