GENEREX, DOCTEUR ANDRE DELFORGE: what changed
GENEREX, DOCTEUR ANDRE DELFORGE
Largest movements
- Current investments +€65,948
up €65,948 (+5.2%), from €1.3m to €1.3m
- Cash -€31,775
down €31,775 (-23.4%), from €136,073 to €104,298
mainly Contributions, distributions and other (-€210,526) and Current investments (-€65,948)
- Tangible fixed assets -€17,278
down €17,278 (-18.9%), from €91,249 to €73,971
of which Furniture and vehicles: -€16,700
- Reserves -€69,866
down €69,866 (-5.1%), from €1.4m to €1.3m
- Advances received +€64,750
up €64,750 (+70.1%), from €92,310 to €157,060
- Other debts +€38,598
up €38,598 (+529%), from €7,297 to €45,895
- Tax, wage and social debts -€22,758
down €22,758 (-71.7%), from €31,742 to €8,984
- Gross operating margin -€21,353
down €21,353 (-9.0%), from €237,190 to €215,837
- Taxes -€5,399
down €5,399 (-7.3%), from €74,045 to €68,646
- Other operating charges -€4,900
down €4,900 (-83.8%), from €5,850 to €950
- Financial income -€4,195
down €4,195 (-19.9%), from €21,108 to €16,914
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,522,833 | €1,532,175 | +€9,342 | +0.6% |
| Fixed assets | 21/28 | €91,499 | €74,221 | -€17,278 | -18.9% |
| Tangible fixed assets | 22/27 | €91,249 | €73,971 | -€17,278 | -18.9% |
| Plant, machinery and equipment | 23 | €2,331 | €5,145 | +€2,814 | +121% |
| Furniture and vehicles | 24 | €60,038 | €43,338 | -€16,700 | -27.8% |
| Other tangible fixed assets | 26 | €28,880 | €25,488 | -€3,392 | -11.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,431,333 | €1,457,954 | +€26,621 | +1.9% |
| Amounts receivable within one year | 40/41 | €16,167 | €9,690 | -€6,477 | -40.1% |
| Trade receivables | 40 | €16,167 | €9,690 | -€6,477 | -40.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €1,275,492 | €1,341,440 | +€65,948 | +5.2% |
| Cash at bank and in hand | 54/58 | €136,073 | €104,298 | -€31,775 | -23.4% |
| Deferred charges and accrued income | 490/1 | €3,601 | €2,526 | -€1,075 | -29.9% |
| Total equity and liabilities | 10/49 | €1,522,833 | €1,532,175 | +€9,342 | +0.6% |
| Equity | 10/15 | €1,385,088 | €1,315,222 | -€69,866 | -5.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,372,679 | €1,302,813 | -€69,866 | -5.1% |
| Distributable reserves | 133 | €1,372,679 | €1,302,813 | -€69,866 | -5.1% |
| Profit (loss) carried forward | 14 | €9 | €9 | = | 0.0% |
| Amounts payable | 17/49 | €137,744 | €216,953 | +€79,209 | +57.5% |
| Amounts payable within one year | 42/48 | €137,699 | €216,907 | +€79,208 | +57.5% |
| Trade debts | 44 | €6,350 | €4,968 | -€1,382 | -21.8% |
| Suppliers | 440/4 | €6,350 | €4,968 | -€1,382 | -21.8% |
| Advances received on contracts in progress | 46 | €92,310 | €157,060 | +€64,750 | +70.1% |
| Taxes, remuneration and social security | 45 | €31,742 | €8,984 | -€22,758 | -71.7% |
| Taxes | 450/3 | €31,742 | €8,984 | -€22,758 | -71.7% |
| Other amounts payable | 47/48 | €7,297 | €45,895 | +€38,598 | +529% |
| Accrued charges and deferred income | 492/3 | €45 | €46 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,933 | €21,407 | +€1,474 | +7.4% |
| Other operating charges | 640/8 | €5,850 | €950 | -€4,900 | -83.8% |
| Gross operating margin | 9900 | €237,190 | €215,837 | -€21,353 | -9.0% |
| Operating profit (loss) | 9901 | €211,407 | €193,480 | -€17,927 | -8.5% |
| Financial income | 75/76B | €21,108 | €16,914 | -€4,195 | -19.9% |
| Recurring financial income | 75 | €21,108 | €16,914 | -€4,195 | -19.9% |
| Financial charges | 65/66B | €1,131 | €1,088 | -€44 | -3.9% |
| Recurring financial charges | 65 | €1,131 | €1,088 | -€44 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €231,384 | €209,306 | -€22,078 | -9.5% |
| Income taxes | 67/77 | €74,045 | €68,646 | -€5,399 | -7.3% |
| Profit (loss) for the period | 9904 | €157,339 | €140,660 | -€16,679 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €157,339 | €140,660 | -€16,679 | -10.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.