GENERATIO: 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.
GENERATIO
Largest movements
- Tangible fixed assets -€65,505
down €65,505 (-7.1%), from €919,011 to €853,507
- Stocks and contracts -€57,500
down €57,500 (-100.0%), from €57,500 to €0
- Cash -€40,166
down €40,166 (-91.8%), from €43,762 to €3,596
mainly Contributions, distributions and other (-€231,263) and Debts after one year (-€47,692)
- Reserves -€172,176
down €172,176 (-68.3%), from €251,906 to €79,729
- Other debts +€59,317
up €59,317 (+36.7%), from €161,830 to €221,147
- Debts after one year -€47,692
down €47,692 (-9.0%), from €532,122 to €484,429
- Gross operating margin +€39,538
up €39,538 (+36.5%), from €108,225 to €147,763
- Taxes +€8,811
up €8,811 (+358.7%), from €2,456 to €11,268
- Financial charges -€7,802
down €7,802 (-53.9%), from €14,482 to €6,681
- Depreciation +€1,605
up €1,605 (+2.4%), from €67,668 to €69,273
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 | €1,022,172 | €858,200 | -€163,972 | -16.0% |
| Fixed assets | 21/28 | €919,011 | €853,507 | -€65,505 | -7.1% |
| Tangible fixed assets | 22/27 | €919,011 | €853,507 | -€65,505 | -7.1% |
| Land and buildings | 22 | €671,386 | €654,253 | -€17,133 | -2.6% |
| Plant, machinery and equipment | 23 | €1,787 | €1,239 | -€548 | -30.6% |
| Furniture and vehicles | 24 | €73,802 | €46,149 | -€27,653 | -37.5% |
| Other tangible fixed assets | 26 | €172,036 | €151,865 | -€20,172 | -11.7% |
| Current assets | 29/58 | €103,161 | €4,694 | -€98,467 | -95.5% |
| Stocks and contracts in progress | 3 | €57,500 | €0 | -€57,500 | -100.0% |
| Stocks | 30/36 | €57,500 | €0 | -€57,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €43,762 | €3,596 | -€40,166 | -91.8% |
| Deferred charges and accrued income | 490/1 | €1,899 | €1,097 | -€801 | -42.2% |
| Total equity and liabilities | 10/49 | €1,022,172 | €858,200 | -€163,972 | -16.0% |
| Equity | 10/15 | €256,906 | €84,729 | -€172,176 | -67.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €251,906 | €79,729 | -€172,176 | -68.3% |
| Distributable reserves | 133 | €251,906 | €79,729 | -€172,176 | -68.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €765,266 | €773,471 | +€8,205 | +1.1% |
| Amounts payable after more than one year | 17 | €532,122 | €484,429 | -€47,692 | -9.0% |
| Financial debts | 170/4 | €532,122 | €484,429 | -€47,692 | -9.0% |
| Amounts payable within one year | 42/48 | €233,145 | €289,042 | +€55,897 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €46,886 | €47,692 | +€806 | +1.7% |
| Trade debts | 44 | €6,165 | €1,187 | -€4,978 | -80.7% |
| Suppliers | 440/4 | €6,165 | €1,187 | -€4,978 | -80.7% |
| Taxes, remuneration and social security | 45 | €18,264 | €19,015 | +€751 | +4.1% |
| Taxes | 450/3 | €18,264 | €19,015 | +€751 | +4.1% |
| Other amounts payable | 47/48 | €161,830 | €221,147 | +€59,317 | +36.7% |
| Remuneration, social security and pensions | 62 | €900 | €0 | -€900 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,668 | €69,273 | +€1,605 | +2.4% |
| Other operating charges | 640/8 | €2,076 | €1,970 | -€105 | -5.1% |
| Gross operating margin | 9900 | €108,225 | €147,763 | +€39,538 | +36.5% |
| Operating profit (loss) | 9901 | €37,581 | €76,519 | +€38,938 | +103.6% |
| Financial income | 75/76B | €0 | €516 | +€516 | |
| Recurring financial income | 75 | €0 | €516 | +€516 | |
| Financial charges | 65/66B | €14,482 | €6,681 | -€7,802 | -53.9% |
| Recurring financial charges | 65 | €14,482 | €6,681 | -€7,802 | -53.9% |
| Profit (loss) for the period before taxes | 9903 | €23,099 | €70,355 | +€47,256 | +204.6% |
| Income taxes | 67/77 | €2,456 | €11,268 | +€8,811 | +358.7% |
| Profit (loss) for the period | 9904 | €20,642 | €59,087 | +€38,445 | +186.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,642 | €59,087 | +€38,445 | +186.2% |
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 6 October 2026 via checked.be.