GENNAKER: 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.
GENNAKER
Largest movements
- Cash -€36,765
down €36,765 (-55.3%), from €66,530 to €29,764
mainly Contributions, distributions and other (-€73,274) and Other debts (-€39,794)
- Tangible fixed assets -€12,754
down €12,754 (-24.2%), from €52,604 to €39,850
of which Other tangible fixed assets: -€10,464
- Receivables within one year +€5,762
up €5,762 (+27.9%), from €20,654 to €26,416
of which Trade receivables: +€7,004
- Other debts -€39,794
down €39,794 (-40.5%), from €98,236 to €58,442
- Tax, wage and social debts -€2,519
down €2,519 (-15.1%), from €16,664 to €14,145
- Trade debts -€1,787
down €1,787 (-79.1%), from €2,261 to €473
- Gross operating margin -€29,423
down €29,423 (-21.4%), from €137,711 to €108,288
- Taxes -€7,758
down €7,758 (-28.2%), from €27,496 to €19,738
- Other operating charges +€1,609
up €1,609 (+379.1%), from €424 to €2,033
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 | €139,987 | €96,030 | -€43,956 | -31.4% |
| Fixed assets | 21/28 | €52,604 | €39,850 | -€12,754 | -24.2% |
| Tangible fixed assets | 22/27 | €52,604 | €39,850 | -€12,754 | -24.2% |
| Plant, machinery and equipment | 23 | €287 | €59 | -€228 | -79.5% |
| Furniture and vehicles | 24 | €8,103 | €6,041 | -€2,062 | -25.4% |
| Other tangible fixed assets | 26 | €44,214 | €33,750 | -€10,464 | -23.7% |
| Current assets | 29/58 | €87,383 | €56,180 | -€31,203 | -35.7% |
| Amounts receivable within one year | 40/41 | €20,654 | €26,416 | +€5,762 | +27.9% |
| Trade receivables | 40 | €18,150 | €25,154 | +€7,004 | +38.6% |
| Other amounts receivable | 41 | €2,504 | €1,262 | -€1,242 | -49.6% |
| Cash at bank and in hand | 54/58 | €66,530 | €29,764 | -€36,765 | -55.3% |
| Deferred charges and accrued income | 490/1 | €200 | €0 | -€200 | -100.0% |
| Total equity and liabilities | 10/49 | €139,987 | €96,030 | -€43,956 | -31.4% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €121,437 | €77,480 | -€43,956 | -36.2% |
| Amounts payable within one year | 42/48 | €117,160 | €73,060 | -€44,100 | -37.6% |
| Trade debts | 44 | €2,261 | €473 | -€1,787 | -79.1% |
| Suppliers | 440/4 | €2,261 | €473 | -€1,787 | -79.1% |
| Taxes, remuneration and social security | 45 | €16,664 | €14,145 | -€2,519 | -15.1% |
| Taxes | 450/3 | €16,664 | €14,145 | -€2,519 | -15.1% |
| Other amounts payable | 47/48 | €98,236 | €58,442 | -€39,794 | -40.5% |
| Accrued charges and deferred income | 492/3 | €4,277 | €4,420 | +€143 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,326 | €12,754 | +€428 | +3.5% |
| Other operating charges | 640/8 | €424 | €2,033 | +€1,609 | +379.1% |
| Gross operating margin | 9900 | €137,711 | €108,288 | -€29,423 | -21.4% |
| Operating profit (loss) | 9901 | €124,961 | €93,501 | -€31,459 | -25.2% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €467 | €493 | +€26 | +5.6% |
| Recurring financial charges | 65 | €467 | €493 | +€26 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €124,494 | €93,012 | -€31,482 | -25.3% |
| Income taxes | 67/77 | €27,496 | €19,738 | -€7,758 | -28.2% |
| Profit (loss) for the period | 9904 | €96,998 | €73,274 | -€23,724 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €96,998 | €73,274 | -€23,724 | -24.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.