GENEX: 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.
GENEX
Largest movements
- Receivables within one year +€8,782
up €8,782 (+75.6%), from €11,619 to €20,402
of which Trade receivables: +€9,071
- Tangible fixed assets -€6,648
down €6,648 (-16.8%), from €39,663 to €33,014
of which Furniture and vehicles: -€8,449
- Stocks and contracts -€746
down €746 (-25.3%), from €2,955 to €2,209
- Tax, wage and social debts +€11,172
up €11,172 (+1321.2%), from €846 to €12,017
- Current portion of long-term debt -€5,064
down €5,064 (-69.0%), from €7,341 to €2,277
- Trade debts -€2,339
down €2,339 (-42.1%), from €5,558 to €3,219
- Debts after one year -€2,277
no longer reported in 2025 (was €2,277)
- Reserves +€1,189
up €1,189 (+5.4%), from €22,023 to €23,212
- Gross operating margin +€23,001
up €23,001 (+116.4%), from €19,760 to €42,761
- Taxes +€8,445
up €8,445 (+349.1%), from €2,419 to €10,864
- Depreciation -€2,434
down €2,434 (-14.0%), from €17,377 to €14,943
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 | €60,281 | €62,324 | +€2,043 | +3.4% |
| Fixed assets | 21/28 | €41,095 | €34,446 | -€6,648 | -16.2% |
| Tangible fixed assets | 22/27 | €39,663 | €33,014 | -€6,648 | -16.8% |
| Plant, machinery and equipment | 23 | €1,193 | €3,510 | +€2,317 | +194.2% |
| Furniture and vehicles | 24 | €36,983 | €28,534 | -€8,449 | -22.8% |
| Other tangible fixed assets | 26 | €1,487 | €971 | -€516 | -34.7% |
| Financial fixed assets | 28 | €1,432 | €1,432 | = | 0.0% |
| Current assets | 29/58 | €19,187 | €27,878 | +€8,691 | +45.3% |
| Stocks and contracts in progress | 3 | €2,955 | €2,209 | -€746 | -25.3% |
| Stocks | 30/36 | €2,955 | €2,209 | -€746 | -25.3% |
| Amounts receivable within one year | 40/41 | €11,619 | €20,402 | +€8,782 | +75.6% |
| Trade receivables | 40 | €6,025 | €15,096 | +€9,071 | +150.5% |
| Other amounts receivable | 41 | €5,594 | €5,306 | -€289 | -5.2% |
| Cash at bank and in hand | 54/58 | €3,766 | €3,921 | +€155 | +4.1% |
| Deferred charges and accrued income | 490/1 | €847 | €1,347 | +€500 | +59.1% |
| Total equity and liabilities | 10/49 | €60,281 | €62,324 | +€2,043 | +3.4% |
| Equity | 10/15 | €40,589 | €41,804 | +€1,214 | +3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €22,023 | €23,212 | +€1,189 | +5.4% |
| Distributable reserves | 133 | €22,023 | €23,212 | +€1,189 | +5.4% |
| Profit (loss) carried forward | 14 | -€26 | - | +€26 | |
| Amounts payable | 17/49 | €19,692 | €20,520 | +€829 | +4.2% |
| Amounts payable after more than one year | 17 | €2,277 | - | -€2,277 | |
| Financial debts | 170/4 | €2,277 | - | -€2,277 | |
| Amounts payable within one year | 42/48 | €17,365 | €20,520 | +€3,156 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €7,341 | €2,277 | -€5,064 | -69.0% |
| Trade debts | 44 | €5,558 | €3,219 | -€2,339 | -42.1% |
| Suppliers | 440/4 | €5,558 | €3,219 | -€2,339 | -42.1% |
| Taxes, remuneration and social security | 45 | €846 | €12,017 | +€11,172 | +1321.2% |
| Taxes | 450/3 | €846 | €12,017 | +€11,172 | +1321.2% |
| Other amounts payable | 47/48 | €3,620 | €3,007 | -€613 | -16.9% |
| Accrued charges and deferred income | 492/3 | €50 | - | -€50 | |
| Non-recurring operating income | 76A | - | €7,761 | +€7,761 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,377 | €14,943 | -€2,434 | -14.0% |
| Other operating charges | 640/8 | €318 | €320 | +€2 | +0.6% |
| Gross operating margin | 9900 | €19,760 | €42,761 | +€23,001 | +116.4% |
| Operating profit (loss) | 9901 | €2,065 | €27,498 | +€25,433 | +1231.4% |
| Financial income | 75/76B | €23 | €1 | -€21 | -94.1% |
| Recurring financial income | 75 | €23 | €1 | -€21 | -94.1% |
| Financial charges | 65/66B | €1,554 | €1,351 | -€203 | -13.1% |
| Recurring financial charges | 65 | €1,554 | €1,351 | -€203 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €534 | €26,149 | +€25,615 | +4797.1% |
| Income taxes | 67/77 | €2,419 | €10,864 | +€8,445 | +349.1% |
| Profit (loss) for the period | 9904 | -€1,885 | €15,285 | +€17,170 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,885 | €15,285 | +€17,170 |
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.