GENEROUS: 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.
GENEROUS
Largest movements
- Cash -€31,971
down €31,971 (-13.3%), from €239,534 to €207,563
mainly Investment in fixed assets (net) (-€83,546) and Trade debts (-€64,462)
- Stocks and contracts +€22,918
up €22,918 (+11.9%), from €192,602 to €215,520
- Tangible fixed assets -€17,705
down €17,705 (-7.8%), from €228,193 to €210,488
of which Furniture and vehicles: -€26,585
- Deferred charges and accrued income -€13,818
down €13,818 (-96.5%), from €14,322 to €504
- Trade debts -€64,462
down €64,462 (-30.9%), from €208,847 to €144,384
- Current portion of long-term debt -€50,462
down €50,462 (-57.5%), from €87,784 to €37,322
- Debts after one year +€37,900
up €37,900 (+18.0%), from €210,513 to €248,412
- Profit (loss) carried forward +€27,766
up €27,766 (+5.0%), from -€552,668 to -€524,902
- Tax, wage and social debts +€10,944
up €10,944 (+49.2%), from €22,267 to €33,212
of which Remuneration and social security: +€9,372
- Purchases and services +€1.2m
new in 2025: €1.2m
- Gross operating margin +€71,591
up €71,591 (+14.7%), from €487,959 to €559,550
- Financial charges +€21,995
up €21,995 (+422.2%), from €5,210 to €27,205
- Staff costs -€19,706
down €19,706 (-5.0%), from €397,806 to €378,100
- Other operating charges -€15,774
down €15,774 (-36.5%), from €43,186 to €27,411
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 | €1,023,374 | €980,395 | -€42,979 | -4.2% |
| Fixed assets | 21/28 | €243,513 | €222,561 | -€20,951 | -8.6% |
| Intangible fixed assets | 21 | €5,346 | €2,099 | -€3,247 | -60.7% |
| Tangible fixed assets | 22/27 | €228,193 | €210,488 | -€17,705 | -7.8% |
| Plant, machinery and equipment | 23 | €63,226 | €37,678 | -€25,548 | -40.4% |
| Furniture and vehicles | 24 | €30,519 | €3,933 | -€26,585 | -87.1% |
| Leasing and similar rights | 25 | €23,252 | €70,673 | +€47,420 | +203.9% |
| Other tangible fixed assets | 26 | €111,196 | €98,205 | -€12,991 | -11.7% |
| Financial fixed assets | 28 | €9,974 | €9,974 | = | 0.0% |
| Current assets | 29/58 | €779,861 | €757,834 | -€22,027 | -2.8% |
| Stocks and contracts in progress | 3 | €192,602 | €215,520 | +€22,918 | +11.9% |
| Stocks | 30/36 | €192,602 | €215,520 | +€22,918 | +11.9% |
| Amounts receivable within one year | 40/41 | €333,403 | €334,246 | +€844 | +0.3% |
| Trade receivables | 40 | €316,200 | €329,572 | +€13,371 | +4.2% |
| Other amounts receivable | 41 | €17,202 | €4,675 | -€12,527 | -72.8% |
| Cash at bank and in hand | 54/58 | €239,534 | €207,563 | -€31,971 | -13.3% |
| Deferred charges and accrued income | 490/1 | €14,322 | €504 | -€13,818 | -96.5% |
| Total equity and liabilities | 10/49 | €1,023,374 | €980,395 | -€42,979 | -4.2% |
| Equity | 10/15 | €467,714 | €488,093 | +€20,378 | +4.4% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€552,668 | -€524,902 | +€27,766 | +5.0% |
| Investment grants | 15 | €20,382 | €12,995 | -€7,388 | -36.2% |
| Amounts payable | 17/49 | €555,660 | €492,303 | -€63,357 | -11.4% |
| Amounts payable after more than one year | 17 | €210,513 | €248,412 | +€37,900 | +18.0% |
| Financial debts | 170/4 | €210,513 | €248,412 | +€37,900 | +18.0% |
| Amounts payable within one year | 42/48 | €345,147 | €238,918 | -€106,229 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €87,784 | €37,322 | -€50,462 | -57.5% |
| Trade debts | 44 | €208,847 | €144,384 | -€64,462 | -30.9% |
| Suppliers | 440/4 | €208,847 | €144,384 | -€64,462 | -30.9% |
| Taxes, remuneration and social security | 45 | €22,267 | €33,212 | +€10,944 | +49.2% |
| Taxes | 450/3 | - | €1,572 | +€1,572 | |
| Remuneration and social security | 454/9 | €22,267 | €31,639 | +€9,372 | +42.1% |
| Other amounts payable | 47/48 | €26,250 | €24,000 | -€2,250 | -8.6% |
| Accrued charges and deferred income | 492/3 | - | €4,973 | +€4,973 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,215,231 | +€1.2m | |
| Remuneration, social security and pensions | 62 | €397,806 | €378,100 | -€19,706 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,660 | €104,498 | -€3,162 | -2.9% |
| Other operating charges | 640/8 | €43,186 | €27,411 | -€15,774 | -36.5% |
| Gross operating margin | 9900 | €487,959 | €559,550 | +€71,591 | +14.7% |
| Operating profit (loss) | 9901 | -€60,692 | €49,541 | +€110,233 | |
| Financial income | 75/76B | €7,399 | €7,472 | +€73 | +1.0% |
| Recurring financial income | 75 | €7,399 | €7,472 | +€73 | +1.0% |
| Financial charges | 65/66B | €5,210 | €27,205 | +€21,995 | +422.2% |
| Recurring financial charges | 65 | €5,210 | €27,205 | +€21,995 | +422.2% |
| Profit (loss) for the period before taxes | 9903 | -€58,502 | €29,809 | +€88,311 | |
| Income taxes | 67/77 | - | €2,042 | +€2,042 | |
| Profit (loss) for the period | 9904 | -€58,502 | €27,766 | +€86,268 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,502 | €27,766 | +€86,268 |
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 29 September 2026 via checked.be.