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 -€43,599
down €43,599 (-82.7%), from €52,690 to €9,091
mainly Receivables within one year (-€27,192) and Short-term financial debts (-€10,000)
- Receivables within one year +€27,192
up €27,192 (+109.7%), from €24,798 to €51,989
of which Trade receivables: +€27,414
- Receivables after one year -€5,502
down €5,502 (-16.7%), from €32,874 to €27,372
- Stocks and contracts +€2,239
up €2,239 (+7.8%), from €28,784 to €31,023
- Tangible fixed assets +€1,683
up €1,683 (+7.7%), from €21,739 to €23,422
of which Furniture and vehicles: +€5,846
- Short-term financial debts -€10,000
down €10,000 (-25.0%), from €40,000 to €30,000
- Tax, wage and social debts -€5,933
down €5,933 (-62.5%), from €9,486 to €3,553
- Other debts -€4,548
down €4,548 (-34.3%), from €13,249 to €8,701
- Trade debts +€1,888
up €1,888 (+21.2%), from €8,888 to €10,776
- Gross operating margin -€17,304
down €17,304 (-60.8%), from €28,453 to €11,149
- Depreciation -€7,243
down €7,243 (-58.4%), from €12,410 to €5,167
- Taxes -€3,365
down €3,365 (-80.6%), from €4,177 to €812
- Other operating charges +€716
up €716 (+103.8%), from €690 to €1,406
- Financial charges -€417
down €417 (-9.6%), from €4,337 to €3,920
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.
Cash bridge derived
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 | €160,885 | €142,898 | -€17,987 | -11.2% |
| Fixed assets | 21/28 | €21,739 | €23,422 | +€1,683 | +7.7% |
| Tangible fixed assets | 22/27 | €21,739 | €23,422 | +€1,683 | +7.7% |
| Land and buildings | 22 | €20,818 | €16,654 | -€4,164 | -20.0% |
| Furniture and vehicles | 24 | €921 | €6,767 | +€5,846 | +634.8% |
| Current assets | 29/58 | €139,146 | €119,476 | -€19,670 | -14.1% |
| Amounts receivable after more than one year | 29 | €32,874 | €27,372 | -€5,502 | -16.7% |
| Other amounts receivable | 291 | €32,874 | €27,372 | -€5,502 | -16.7% |
| Stocks and contracts in progress | 3 | €28,784 | €31,023 | +€2,239 | +7.8% |
| Stocks | 30/36 | €28,784 | €31,023 | +€2,239 | +7.8% |
| Amounts receivable within one year | 40/41 | €24,798 | €51,989 | +€27,192 | +109.7% |
| Trade receivables | 40 | €22,489 | €49,903 | +€27,414 | +121.9% |
| Other amounts receivable | 41 | €2,309 | €2,087 | -€222 | -9.6% |
| Cash at bank and in hand | 54/58 | €52,690 | €9,091 | -€43,599 | -82.7% |
| Total equity and liabilities | 10/49 | €160,885 | €142,898 | -€17,987 | -11.2% |
| Equity | 10/15 | €89,262 | €89,869 | +€607 | +0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,662 | €71,269 | +€607 | +0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €68,802 | €69,409 | +€607 | +0.9% |
| Amounts payable | 17/49 | €71,623 | €53,029 | -€18,594 | -26.0% |
| Amounts payable within one year | 42/48 | €71,623 | €53,029 | -€18,594 | -26.0% |
| Financial debts | 43 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Credit institutions | 430/8 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Trade debts | 44 | €8,888 | €10,776 | +€1,888 | +21.2% |
| Suppliers | 440/4 | €8,888 | €10,776 | +€1,888 | +21.2% |
| Taxes, remuneration and social security | 45 | €9,486 | €3,553 | -€5,933 | -62.5% |
| Taxes | 450/3 | €9,486 | €3,553 | -€5,933 | -62.5% |
| Other amounts payable | 47/48 | €13,249 | €8,701 | -€4,548 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,410 | €5,167 | -€7,243 | -58.4% |
| Other operating charges | 640/8 | €690 | €1,406 | +€716 | +103.8% |
| Gross operating margin | 9900 | €28,453 | €11,149 | -€17,304 | -60.8% |
| Operating profit (loss) | 9901 | €15,353 | €4,576 | -€10,777 | -70.2% |
| Financial income | 75/76B | €870 | €763 | -€107 | -12.3% |
| Recurring financial income | 75 | €870 | €763 | -€107 | -12.3% |
| Financial charges | 65/66B | €4,337 | €3,920 | -€417 | -9.6% |
| Recurring financial charges | 65 | €4,337 | €3,920 | -€417 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €11,886 | €1,419 | -€10,467 | -88.1% |
| Income taxes | 67/77 | €4,177 | €812 | -€3,365 | -80.6% |
| Profit (loss) for the period | 9904 | €7,709 | €607 | -€7,102 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,709 | €607 | -€7,102 | -92.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.