Genappe Vision: 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.
Genappe Vision
Largest movements
- Cash +€158,072
up €158,072 (+25.1%), from €630,360 to €788,432
mainly Other debts (+€295,528) and Net result for the year (+€164,934)
- Tangible fixed assets -€27,608
down €27,608 (-8.9%), from €310,827 to €283,219
of which Plant, machinery and equipment: -€21,013
- Other debts +€295,528
up €295,528 (+1622.7%), from €18,212 to €313,740
- Reserves -€129,682
down €129,682 (-21.9%), from €592,083 to €462,401
of which Distributable reserves: -€129,682
- Debts after one year -€29,672
down €29,672 (-12.5%), from €237,586 to €207,914
- Gross operating margin +€35,507
up €35,507 (+10.7%), from €332,972 to €368,479
- Taxes +€8,590
up €8,590 (+13.3%), from €64,714 to €73,304
- Staff costs +€6,639
up €6,639 (+10.7%), from €61,827 to €68,466
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 | €1,010,121 | €1,146,752 | +€136,632 | +13.5% |
| Fixed assets | 21/28 | €310,952 | €283,344 | -€27,608 | -8.9% |
| Tangible fixed assets | 22/27 | €310,827 | €283,219 | -€27,608 | -8.9% |
| Land and buildings | 22 | €185,447 | €169,631 | -€15,816 | -8.5% |
| Plant, machinery and equipment | 23 | €75,880 | €54,867 | -€21,013 | -27.7% |
| Furniture and vehicles | 24 | €47,751 | €56,972 | +€9,221 | +19.3% |
| Other tangible fixed assets | 26 | €1,750 | €1,750 | = | 0.0% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €699,168 | €863,408 | +€164,240 | +23.5% |
| Stocks and contracts in progress | 3 | €58,598 | €66,251 | +€7,653 | +13.1% |
| Stocks | 30/36 | €58,598 | €66,251 | +€7,653 | +13.1% |
| Amounts receivable within one year | 40/41 | €4,842 | €2,902 | -€1,941 | -40.1% |
| Trade receivables | 40 | €4,842 | €2,902 | -€1,941 | -40.1% |
| Cash at bank and in hand | 54/58 | €630,360 | €788,432 | +€158,072 | +25.1% |
| Deferred charges and accrued income | 490/1 | €5,368 | €5,823 | +€455 | +8.5% |
| Total equity and liabilities | 10/49 | €1,010,121 | €1,146,752 | +€136,632 | +13.5% |
| Equity | 10/15 | €668,918 | €539,236 | -€129,682 | -19.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €592,083 | €462,401 | -€129,682 | -21.9% |
| Tax-exempt reserves | 132 | €34,050 | €34,050 | = | 0.0% |
| Distributable reserves | 133 | €558,033 | €428,351 | -€129,682 | -23.2% |
| Profit (loss) carried forward | 14 | €46,835 | €46,835 | = | 0.0% |
| Amounts payable | 17/49 | €341,203 | €607,516 | +€266,314 | +78.1% |
| Amounts payable after more than one year | 17 | €237,586 | €207,914 | -€29,672 | -12.5% |
| Financial debts | 170/4 | €237,586 | €207,914 | -€29,672 | -12.5% |
| Amounts payable within one year | 42/48 | €102,329 | €398,680 | +€296,352 | +289.6% |
| Current portion of amounts payable after more than one year | 42 | €29,405 | €29,672 | +€267 | +0.9% |
| Trade debts | 44 | €14,048 | €16,743 | +€2,696 | +19.2% |
| Suppliers | 440/4 | €14,048 | €16,743 | +€2,696 | +19.2% |
| Taxes, remuneration and social security | 45 | €40,665 | €38,526 | -€2,138 | -5.3% |
| Taxes | 450/3 | €28,750 | €30,369 | +€1,619 | +5.6% |
| Remuneration and social security | 454/9 | €11,914 | €8,157 | -€3,757 | -31.5% |
| Other amounts payable | 47/48 | €18,212 | €313,740 | +€295,528 | +1622.7% |
| Accrued charges and deferred income | 492/3 | €1,288 | €922 | -€366 | -28.4% |
| Remuneration, social security and pensions | 62 | €61,827 | €68,466 | +€6,639 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,099 | €56,078 | +€1,980 | +3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €396 | €1,226 | +€830 | +209.6% |
| Other operating charges | 640/8 | €3,646 | €4,326 | +€680 | +18.7% |
| Gross operating margin | 9900 | €332,972 | €368,479 | +€35,507 | +10.7% |
| Operating profit (loss) | 9901 | €213,003 | €238,381 | +€25,378 | +11.9% |
| Financial income | 75/76B | €5,850 | €7,512 | +€1,663 | +28.4% |
| Recurring financial income | 75 | €5,850 | €7,512 | +€1,663 | +28.4% |
| Financial charges | 65/66B | €7,915 | €7,655 | -€260 | -3.3% |
| Recurring financial charges | 65 | €7,915 | €7,655 | -€260 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €210,938 | €238,238 | +€27,300 | +12.9% |
| Income taxes | 67/77 | €64,714 | €73,304 | +€8,590 | +13.3% |
| Profit (loss) for the period | 9904 | €146,224 | €164,934 | +€18,710 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €146,224 | €164,934 | +€18,710 | +12.8% |
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.