GENABEL: what changed
Two fiscal 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.
GENABEL
Largest movements
- Tangible fixed assets -€50,389
down €50,389 (-4.8%), from €1.1m to €1.0m
of which Plant, machinery and equipment: -€28,019
- Cash +€47,952
up €47,952 (+66.8%), from €71,812 to €119,763
mainly Depreciation (+€91,270) and Receivables within one year (+€9,768)
- Trade debts -€17,300
down €17,300 (-98.4%), from €17,576 to €276
- Gross operating margin +€25,216
up €25,216 (+18.9%), from €133,458 to €158,674
- Depreciation +€9,012
up €9,012 (+11.0%), from €82,258 to €91,270
- Other operating charges +€6,057
up €6,057 (+23.9%), from €25,348 to €31,405
- Financial charges -€4,683
down €4,683 (-11.4%), from €40,960 to €36,277
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 | €1,141,798 | €1,127,799 | -€14,000 | -1.2% |
| Fixed assets | 21/28 | €1,051,926 | €1,001,538 | -€50,389 | -4.8% |
| Tangible fixed assets | 22/27 | €1,051,926 | €1,001,538 | -€50,389 | -4.8% |
| Land and buildings | 22 | €960,251 | €937,881 | -€22,370 | -2.3% |
| Plant, machinery and equipment | 23 | €91,675 | €63,656 | -€28,019 | -30.6% |
| Current assets | 29/58 | €89,872 | €126,261 | +€36,389 | +40.5% |
| Amounts receivable within one year | 40/41 | €10,140 | €372 | -€9,768 | -96.3% |
| Trade receivables | 40 | €140 | €365 | +€225 | +160.8% |
| Other amounts receivable | 41 | €10,000 | €7 | -€9,993 | -99.9% |
| Cash at bank and in hand | 54/58 | €71,812 | €119,763 | +€47,952 | +66.8% |
| Deferred charges and accrued income | 490/1 | €7,921 | €6,126 | -€1,795 | -22.7% |
| Total equity and liabilities | 10/49 | €1,141,798 | €1,127,799 | -€14,000 | -1.2% |
| Equity | 10/15 | €551,503 | €551,248 | -€255 | 0.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €489,529 | €489,274 | -€255 | -0.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,039 | €42,039 | = | 0.0% |
| Distributable reserves | 133 | €441,293 | €441,038 | -€255 | -0.1% |
| Amounts payable | 17/49 | €590,296 | €576,551 | -€13,745 | -2.3% |
| Amounts payable after more than one year | 17 | €528,032 | €530,854 | +€2,822 | +0.5% |
| Other amounts payable | 178/9 | €528,032 | €530,854 | +€2,822 | +0.5% |
| Amounts payable within one year | 42/48 | €58,398 | €41,411 | -€16,986 | -29.1% |
| Trade debts | 44 | €17,576 | €276 | -€17,300 | -98.4% |
| Suppliers | 440/4 | €17,576 | €276 | -€17,300 | -98.4% |
| Taxes, remuneration and social security | 45 | €12,247 | €15,909 | +€3,662 | +29.9% |
| Taxes | 450/3 | €12,247 | €15,909 | +€3,662 | +29.9% |
| Other amounts payable | 47/48 | €28,575 | €25,227 | -€3,349 | -11.7% |
| Accrued charges and deferred income | 492/3 | €3,866 | €4,285 | +€419 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,258 | €91,270 | +€9,012 | +11.0% |
| Other operating charges | 640/8 | €25,348 | €31,405 | +€6,057 | +23.9% |
| Gross operating margin | 9900 | €133,458 | €158,674 | +€25,216 | +18.9% |
| Operating profit (loss) | 9901 | €25,852 | €35,999 | +€10,147 | +39.3% |
| Financial income | 75/76B | €62 | €23 | -€39 | -62.7% |
| Recurring financial income | 75 | €62 | €23 | -€39 | -62.7% |
| Financial charges | 65/66B | €40,960 | €36,277 | -€4,683 | -11.4% |
| Recurring financial charges | 65 | €40,960 | €36,277 | -€4,683 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€15,047 | -€255 | +€14,792 | +98.3% |
| Income taxes | 67/77 | €1 | €0 | -€1 | -100.0% |
| Profit (loss) for the period | 9904 | -€15,048 | -€255 | +€14,793 | +98.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,048 | -€255 | +€14,793 | +98.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.