Geerts: 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.
Geerts
Largest movements
- Cash -€129,931
down €129,931 (-16.7%), from €780,270 to €650,339
mainly Contributions, distributions and other (-€276,596) and Investment in fixed assets (net) (-€224,151)
- Receivables within one year +€107,790
up €107,790 (+38.3%), from €281,246 to €389,036
of which Trade receivables: +€105,696
- Debts after one year -€128,337
down €128,337 (-46.9%), from €273,773 to €145,436
- Other debts +€124,880
up €124,880 (+55.3%), from €225,917 to €350,797
- Tax, wage and social debts -€52,877
down €52,877 (-35.5%), from €149,018 to €96,141
of which Taxes: -€50,501
- Gross operating margin +€40,882
up €40,882 (+5.2%), from €788,092 to €828,974
- Taxes -€32,881
down €32,881 (-27.9%), from €117,864 to €84,983
- Depreciation +€29,465
up €29,465 (+14.3%), from €206,024 to €235,489
- Other operating charges +€18,532
up €18,532 (+74.2%), from €24,987 to €43,519
- Staff costs +€12,126
up €12,126 (+7.6%), from €159,706 to €171,833
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 | €2,072,334 | €2,025,601 | -€46,733 | -2.3% |
| Fixed assets | 21/28 | €993,332 | €981,994 | -€11,338 | -1.1% |
| Tangible fixed assets | 22/27 | €982,520 | €969,730 | -€12,790 | -1.3% |
| Land and buildings | 22 | €476,353 | €449,427 | -€26,927 | -5.7% |
| Plant, machinery and equipment | 23 | €113,731 | €72,720 | -€41,011 | -36.1% |
| Furniture and vehicles | 24 | €217,128 | €337,321 | +€120,193 | +55.4% |
| Leasing and similar rights | 25 | €175,307 | €110,262 | -€65,045 | -37.1% |
| Financial fixed assets | 28 | €10,812 | €12,264 | +€1,452 | +13.4% |
| Current assets | 29/58 | €1,079,002 | €1,043,606 | -€35,396 | -3.3% |
| Amounts receivable within one year | 40/41 | €281,246 | €389,036 | +€107,790 | +38.3% |
| Trade receivables | 40 | €276,405 | €382,101 | +€105,696 | +38.2% |
| Other amounts receivable | 41 | €4,840 | €6,934 | +€2,094 | +43.3% |
| Current investments | 50/53 | €1,100 | €1,450 | +€350 | +31.8% |
| Cash at bank and in hand | 54/58 | €780,270 | €650,339 | -€129,931 | -16.7% |
| Deferred charges and accrued income | 490/1 | €16,387 | €2,782 | -€13,605 | -83.0% |
| Total equity and liabilities | 10/49 | €2,072,334 | €2,025,601 | -€46,733 | -2.3% |
| Equity | 10/15 | €1,201,382 | €1,201,382 | = | 0.0% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €1,156,382 | €1,156,382 | = | 0.0% |
| Distributable reserves | 133 | €1,156,382 | €1,156,382 | = | 0.0% |
| Amounts payable | 17/49 | €870,952 | €824,219 | -€46,733 | -5.4% |
| Amounts payable after more than one year | 17 | €273,773 | €145,436 | -€128,337 | -46.9% |
| Financial debts | 170/4 | €273,773 | €145,436 | -€128,337 | -46.9% |
| Amounts payable within one year | 42/48 | €597,180 | €678,783 | +€81,604 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €125,251 | €128,337 | +€3,087 | +2.5% |
| Financial debts | 43 | €2,552 | €2,543 | -€9 | -0.3% |
| Credit institutions | 430/8 | €2,552 | €2,543 | -€9 | -0.3% |
| Trade debts | 44 | €94,442 | €100,965 | +€6,523 | +6.9% |
| Suppliers | 440/4 | €94,442 | €100,965 | +€6,523 | +6.9% |
| Taxes, remuneration and social security | 45 | €149,018 | €96,141 | -€52,877 | -35.5% |
| Taxes | 450/3 | €130,162 | €79,661 | -€50,501 | -38.8% |
| Remuneration and social security | 454/9 | €18,856 | €16,480 | -€2,376 | -12.6% |
| Other amounts payable | 47/48 | €225,917 | €350,797 | +€124,880 | +55.3% |
| Remuneration, social security and pensions | 62 | €159,706 | €171,833 | +€12,126 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,024 | €235,489 | +€29,465 | +14.3% |
| Other operating charges | 640/8 | €24,987 | €43,519 | +€18,532 | +74.2% |
| Gross operating margin | 9900 | €788,092 | €828,974 | +€40,882 | +5.2% |
| Operating profit (loss) | 9901 | €397,375 | €378,134 | -€19,241 | -4.8% |
| Financial income | 75/76B | €214 | €440 | +€226 | +106% |
| Recurring financial income | 75 | €214 | €440 | +€226 | +106% |
| Financial charges | 65/66B | €20,684 | €16,995 | -€3,688 | -17.8% |
| Recurring financial charges | 65 | €20,684 | €16,646 | -€4,038 | -19.5% |
| Non-recurring financial charges | 66B | - | €349 | +€349 | |
| Profit (loss) for the period before taxes | 9903 | €376,904 | €361,578 | -€15,326 | -4.1% |
| Income taxes | 67/77 | €117,864 | €84,983 | -€32,881 | -27.9% |
| Profit (loss) for the period | 9904 | €259,041 | €276,596 | +€17,555 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €259,041 | €276,596 | +€17,555 | +6.8% |
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.