GENATAX: 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.
GENATAX
Largest movements
- Cash +€83,500
up €83,500 (+214%), from €38,936 to €122,437
mainly Net result for the year (+€148,613) and Depreciation (+€31,125)
- Tangible fixed assets -€31,158
down €31,158 (-4.8%), from €654,912 to €623,755
of which Land and buildings: -€26,000
- Receivables within one year +€22,636
up €22,636 (+32.3%), from €70,080 to €92,716
of which Trade receivables: +€29,464
- Reserves +€353,180
up €353,180 (+87.3%), from €404,544 to €757,725
of which Distributable reserves: +€368,045
- Profit (loss) carried forward -€204,567
no longer reported in 2025 (was €204,567)
- Other debts -€70,937
down €70,937 (-76.0%), from €93,302 to €22,364
- Financial income +€72,143
up €72,143 (+11,543%), from €625 to €72,768
- Other operating charges -€65,119
down €65,119 (-94.7%), from €68,786 to €3,667
- Gross operating margin +€27,474
up €27,474 (+20.5%), from €134,001 to €161,475
- Taxes +€27,131
up €27,131 (+95.8%), from €28,318 to €55,449
- Depreciation -€9,316
down €9,316 (-23.0%), from €40,441 to €31,125
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.
Derived cash bridge
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 | €863,334 | €938,065 | +€74,731 | +8.7% |
| Fixed assets | 21/28 | €754,318 | €722,912 | -€31,405 | -4.2% |
| Tangible fixed assets | 22/27 | €654,912 | €623,755 | -€31,158 | -4.8% |
| Land and buildings | 22 | €630,180 | €604,180 | -€26,000 | -4.1% |
| Plant, machinery and equipment | 23 | €8,962 | €7,583 | -€1,379 | -15.4% |
| Furniture and vehicles | 24 | €15,770 | €11,992 | -€3,778 | -24.0% |
| Financial fixed assets | 28 | €99,405 | €99,157 | -€248 | -0.2% |
| Current assets | 29/58 | €109,016 | €215,153 | +€106,136 | +97.4% |
| Amounts receivable within one year | 40/41 | €70,080 | €92,716 | +€22,636 | +32.3% |
| Trade receivables | 40 | €787 | €30,250 | +€29,464 | +3,746% |
| Other amounts receivable | 41 | €69,293 | €62,466 | -€6,827 | -9.9% |
| Cash at bank and in hand | 54/58 | €38,936 | €122,437 | +€83,500 | +214% |
| Total equity and liabilities | 10/49 | €863,334 | €938,065 | +€74,731 | +8.7% |
| Equity | 10/15 | €616,548 | €765,162 | +€148,613 | +24.1% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €404,544 | €757,725 | +€353,180 | +87.3% |
| Tax-exempt reserves | 132 | €278,685 | €263,820 | -€14,865 | -5.3% |
| Distributable reserves | 133 | €125,859 | €493,904 | +€368,045 | +292% |
| Profit (loss) carried forward | 14 | €204,567 | - | -€204,567 | |
| Provisions and deferred taxes | 16 | €92,895 | €87,940 | -€4,955 | -5.3% |
| Deferred taxes | 168 | €92,895 | €87,940 | -€4,955 | -5.3% |
| Amounts payable | 17/49 | €153,891 | €84,963 | -€68,928 | -44.8% |
| Amounts payable within one year | 42/48 | €153,891 | €84,963 | -€68,928 | -44.8% |
| Trade debts | 44 | €4,905 | €1,176 | -€3,730 | -76.0% |
| Suppliers | 440/4 | €4,905 | €1,176 | -€3,730 | -76.0% |
| Taxes, remuneration and social security | 45 | €55,684 | €61,423 | +€5,739 | +10.3% |
| Taxes | 450/3 | €55,684 | €61,423 | +€5,739 | +10.3% |
| Other amounts payable | 47/48 | €93,302 | €22,364 | -€70,937 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,441 | €31,125 | -€9,316 | -23.0% |
| Other operating charges | 640/8 | €68,786 | €3,667 | -€65,119 | -94.7% |
| Gross operating margin | 9900 | €134,001 | €161,475 | +€27,474 | +20.5% |
| Operating profit (loss) | 9901 | €24,774 | €126,684 | +€101,910 | +411% |
| Financial income | 75/76B | €625 | €72,768 | +€72,143 | +11,543% |
| Recurring financial income | 75 | €625 | €72,768 | +€72,143 | +11,543% |
| Financial charges | 65/66B | €829 | €344 | -€485 | -58.5% |
| Recurring financial charges | 65 | €829 | €344 | -€485 | -58.5% |
| Profit (loss) for the period before taxes | 9903 | €24,570 | €199,108 | +€174,538 | +710% |
| Transfer from deferred taxes | 780 | €4,955 | €4,955 | +€0 | 0.0% |
| Income taxes | 67/77 | €28,318 | €55,449 | +€27,131 | +95.8% |
| Profit (loss) for the period | 9904 | €1,207 | €148,613 | +€147,406 | +12,210% |
| Transfer from tax-exempt reserves | 789 | €14,865 | €14,865 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,072 | €163,478 | +€147,406 | +917% |
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 19 October 2026 via checked.be.