GEERTS MATHIEU: 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 MATHIEU
Largest movements
- Tangible fixed assets -€13,443
down €13,443 (-54.9%), from €24,488 to €11,045
of which Furniture and vehicles: -€8,258
- Cash -€3,767
down €3,767 (-53.5%), from €7,044 to €3,277
mainly Trade debts (-€17,078) and Debts after one year (-€6,323)
- Deferred charges and accrued income -€1,555
down €1,555 (-75.3%), from €2,065 to €510
- Receivables within one year +€881
up €881 (+4.3%), from €20,363 to €21,244
of which Other amounts receivable: +€15,082
- Trade debts -€17,078
down €17,078 (-73.6%), from €23,213 to €6,136
- Debts after one year -€6,323
down €6,323 (-41.5%), from €15,250 to €8,927
- Profit (loss) carried forward +€6,197
up €6,197, from -€6,111 to €86
- Tax, wage and social debts -€4,350
down €4,350 (-47.7%), from €9,116 to €4,767
of which Taxes: -€4,937
- Reserves +€3,700
new in 2025: €3,700
- Gross operating margin +€12,257
up €12,257 (+18.4%), from €66,550 to €78,807
- Financial charges -€7,222
down €7,222 (-73.0%), from €9,889 to €2,667
- Depreciation -€3,737
down €3,737 (-21.7%), from €17,180 to €13,443
- Staff costs +€1,877
up €1,877 (+3.9%), from €47,979 to €49,856
- Taxes +€1,057
new in 2025: €1,057
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 | €54,323 | €36,439 | -€17,884 | -32.9% |
| Fixed assets | 21/28 | €24,851 | €11,408 | -€13,443 | -54.1% |
| Tangible fixed assets | 22/27 | €24,488 | €11,045 | -€13,443 | -54.9% |
| Furniture and vehicles | 24 | €19,303 | €11,045 | -€8,258 | -42.8% |
| Leasing and similar rights | 25 | €5,185 | - | -€5,185 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €29,472 | €25,031 | -€4,441 | -15.1% |
| Amounts receivable within one year | 40/41 | €20,363 | €21,244 | +€881 | +4.3% |
| Trade receivables | 40 | €14,353 | €152 | -€14,201 | -98.9% |
| Other amounts receivable | 41 | €6,010 | €21,092 | +€15,082 | +251.0% |
| Cash at bank and in hand | 54/58 | €7,044 | €3,277 | -€3,767 | -53.5% |
| Deferred charges and accrued income | 490/1 | €2,065 | €510 | -€1,555 | -75.3% |
| Total equity and liabilities | 10/49 | €54,323 | €36,439 | -€17,884 | -32.9% |
| Equity | 10/15 | €389 | €10,286 | +€9,897 | +2546.6% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | - | €3,700 | +€3,700 | |
| Distributable reserves | 133 | - | €3,700 | +€3,700 | |
| Profit (loss) carried forward | 14 | -€6,111 | €86 | +€6,197 | |
| Amounts payable | 17/49 | €53,934 | €26,153 | -€27,782 | -51.5% |
| Amounts payable after more than one year | 17 | €15,250 | €8,927 | -€6,323 | -41.5% |
| Financial debts | 170/4 | €15,250 | €8,927 | -€6,323 | -41.5% |
| Amounts payable within one year | 42/48 | €38,684 | €17,226 | -€21,458 | -55.5% |
| Current portion of amounts payable after more than one year | 42 | €6,354 | €6,323 | -€31 | -0.5% |
| Trade debts | 44 | €23,213 | €6,136 | -€17,078 | -73.6% |
| Suppliers | 440/4 | €23,213 | €6,136 | -€17,078 | -73.6% |
| Taxes, remuneration and social security | 45 | €9,116 | €4,767 | -€4,350 | -47.7% |
| Taxes | 450/3 | €7,518 | €2,581 | -€4,937 | -65.7% |
| Remuneration and social security | 454/9 | €1,598 | €2,186 | +€587 | +36.7% |
| Remuneration, social security and pensions | 62 | €47,979 | €49,856 | +€1,877 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,180 | €13,443 | -€3,737 | -21.7% |
| Other operating charges | 640/8 | €1,427 | €2,297 | +€870 | +61.0% |
| Gross operating margin | 9900 | €66,550 | €78,807 | +€12,257 | +18.4% |
| Operating profit (loss) | 9901 | -€36 | €13,211 | +€13,247 | |
| Financial income | 75/76B | €896 | €410 | -€486 | -54.2% |
| Recurring financial income | 75 | €896 | €410 | -€486 | -54.2% |
| Financial charges | 65/66B | €9,889 | €2,667 | -€7,222 | -73.0% |
| Recurring financial charges | 65 | €9,889 | €2,667 | -€7,222 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,029 | €10,954 | +€19,983 | |
| Income taxes | 67/77 | - | €1,057 | +€1,057 | |
| Profit (loss) for the period | 9904 | -€9,029 | €9,897 | +€18,926 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,029 | €9,897 | +€18,926 |
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 10 October 2026 via checked.be.