GENADIS: 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.
GENADIS
Largest movements
- Receivables within one year -€253,033
down €253,033 (-82.4%), from €306,955 to €53,922
of which Trade receivables: -€246,582
- Tangible fixed assets -€239,937
down €239,937 (-12.9%), from €1.9m to €1.6m
of which Plant, machinery and equipment: -€172,696
- Intangible fixed assets -€81,089
down €81,089 (-18.0%), from €450,609 to €369,520
- Stocks and contracts -€44,053
down €44,053 (-6.7%), from €658,387 to €614,334
- Current portion of long-term debt -€756,900
down €756,900 (-94.1%), from €804,544 to €47,645
- Profit (loss) carried forward -€515,356
down €515,356 (-160.8%), from -€320,447 to -€835,803
- Debts after one year +€487,832
up €487,832 (+27.3%), from €1.8m to €2.3m
- Other debts +€260,000
up €260,000 (+104.0%), from €250,000 to €510,000
- Trade debts -€91,288
down €91,288 (-7.7%), from €1.2m to €1.1m
- Gross operating margin -€459,980
down €459,980 (-30.6%), from €1.5m to €1.0m
- Staff costs -€173,151
down €173,151 (-15.7%), from €1.1m to €932,985
- Financial charges +€36,429
up €36,429 (+25.0%), from €145,548 to €181,977
of which Financial charges: +€21,547
- Depreciation +€16,915
up €16,915 (+4.3%), from €396,246 to €413,162
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 | €4,064,716 | €3,462,664 | -€602,052 | -14.8% |
| Formation expenses | 20 | €104,571 | €78,797 | -€25,774 | -24.6% |
| Fixed assets | 21/28 | €2,326,463 | €1,997,254 | -€329,209 | -14.2% |
| Intangible fixed assets | 21 | €450,609 | €369,520 | -€81,089 | -18.0% |
| Tangible fixed assets | 22/27 | €1,866,171 | €1,626,235 | -€239,937 | -12.9% |
| Plant, machinery and equipment | 23 | €1,297,490 | €1,124,794 | -€172,696 | -13.3% |
| Furniture and vehicles | 24 | €85,855 | €73,641 | -€12,214 | -14.2% |
| Other tangible fixed assets | 26 | €482,827 | €427,800 | -€55,027 | -11.4% |
| Financial fixed assets | 28 | €9,683 | €1,500 | -€8,183 | -84.5% |
| Current assets | 29/58 | €1,633,681 | €1,386,612 | -€247,069 | -15.1% |
| Stocks and contracts in progress | 3 | €658,387 | €614,334 | -€44,053 | -6.7% |
| Stocks | 30/36 | €658,387 | €614,334 | -€44,053 | -6.7% |
| Amounts receivable within one year | 40/41 | €306,955 | €53,922 | -€253,033 | -82.4% |
| Trade receivables | 40 | €282,648 | €36,066 | -€246,582 | -87.2% |
| Other amounts receivable | 41 | €24,307 | €17,856 | -€6,451 | -26.5% |
| Cash at bank and in hand | 54/58 | €611,679 | €632,989 | +€21,309 | +3.5% |
| Deferred charges and accrued income | 490/1 | €56,660 | €85,368 | +€28,708 | +50.7% |
| Total equity and liabilities | 10/49 | €4,064,716 | €3,462,664 | -€602,052 | -14.8% |
| Equity | 10/15 | -€173,595 | -€688,952 | -€515,356 | -296.9% |
| Contributions | 10/11 | €146,851 | €146,851 | = | 0.0% |
| Capital | 10 | €146,851 | €146,851 | = | 0.0% |
| Issued capital | 100 | €146,851 | €146,851 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€320,447 | -€835,803 | -€515,356 | -160.8% |
| Amounts payable | 17/49 | €4,238,311 | €4,151,615 | -€86,696 | -2.0% |
| Amounts payable after more than one year | 17 | €1,788,024 | €2,275,856 | +€487,832 | +27.3% |
| Financial debts | 170/4 | €1,788,024 | €2,275,856 | +€487,832 | +27.3% |
| Amounts payable within one year | 42/48 | €2,399,973 | €1,852,145 | -€547,828 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €804,544 | €47,645 | -€756,900 | -94.1% |
| Financial debts | 43 | - | €56,790 | +€56,790 | |
| Credit institutions | 430/8 | - | €56,790 | +€56,790 | |
| Trade debts | 44 | €1,192,554 | €1,101,266 | -€91,288 | -7.7% |
| Suppliers | 440/4 | €1,192,554 | €1,101,266 | -€91,288 | -7.7% |
| Taxes, remuneration and social security | 45 | €152,874 | €136,444 | -€16,430 | -10.7% |
| Taxes | 450/3 | €14,817 | €5,276 | -€9,542 | -64.4% |
| Remuneration and social security | 454/9 | €138,056 | €131,168 | -€6,888 | -5.0% |
| Other amounts payable | 47/48 | €250,000 | €510,000 | +€260,000 | +104.0% |
| Accrued charges and deferred income | 492/3 | €50,315 | €23,614 | -€26,701 | -53.1% |
| Non-recurring operating income | 76A | €336,037 | €128,400 | -€207,637 | -61.8% |
| Remuneration, social security and pensions | 62 | €1,106,136 | €932,985 | -€173,151 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396,246 | €413,162 | +€16,915 | +4.3% |
| Other operating charges | 640/8 | €35,076 | €41,944 | +€6,868 | +19.6% |
| Non-recurring operating charges | 66A | - | €1,025 | +€1,025 | |
| Gross operating margin | 9900 | €1,502,951 | €1,042,972 | -€459,980 | -30.6% |
| Operating profit (loss) | 9901 | -€34,507 | -€346,144 | -€311,637 | -903.1% |
| Financial income | 75/76B | €4,062 | €13,073 | +€9,011 | +221.8% |
| Recurring financial income | 75 | €4,062 | €13,073 | +€9,011 | +221.8% |
| Financial charges | 65/66B | €145,548 | €181,977 | +€36,429 | +25.0% |
| Recurring financial charges | 65 | €141,177 | €162,723 | +€21,547 | +15.3% |
| Non-recurring financial charges | 66B | €4,372 | €19,254 | +€14,882 | +340.4% |
| Profit (loss) for the period before taxes | 9903 | -€175,993 | -€515,049 | -€339,055 | -192.7% |
| Income taxes | 67/77 | €234 | €308 | +€74 | +31.6% |
| Profit (loss) for the period | 9904 | -€176,227 | -€515,356 | -€339,129 | -192.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€176,227 | -€515,356 | -€339,129 | -192.4% |
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 30 September 2026 via checked.be.