GENORIF: 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.
GENORIF
Largest movements
- Cash -€57,935
down €57,935 (-14.6%), from €396,533 to €338,597
mainly Investment in fixed assets (net) (-€66,166) and Net result for the year (-€20,629)
- Tangible fixed assets +€33,981
up €33,981 (+15.1%), from €225,004 to €258,985
of which Furniture and vehicles: +€27,718
- Profit (loss) carried forward -€20,629
down €20,629 (-112.5%), from -€18,340 to -€38,968
- Other operating charges +€26,565
up €26,565 (+374.9%), from €7,086 to €33,651
- Gross operating margin +€19,419
up €19,419 (+68.7%), from €28,250 to €47,669
- Depreciation +€7,249
up €7,249 (+29.1%), from €24,937 to €32,186
- Staff costs +€3,936
new in 2025: €3,936
- Financial income +€497
up €497 (+39.2%), from €1,268 to €1,765
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 | €628,534 | €609,662 | -€18,872 | -3.0% |
| Fixed assets | 21/28 | €230,012 | €263,992 | +€33,981 | +14.8% |
| Tangible fixed assets | 22/27 | €225,004 | €258,985 | +€33,981 | +15.1% |
| Land and buildings | 22 | €203,232 | €209,829 | +€6,597 | +3.2% |
| Plant, machinery and equipment | 23 | €1,004 | €669 | -€335 | -33.3% |
| Furniture and vehicles | 24 | €20,768 | €48,487 | +€27,718 | +133.5% |
| Financial fixed assets | 28 | €5,008 | €5,008 | = | 0.0% |
| Current assets | 29/58 | €398,522 | €345,670 | -€52,853 | -13.3% |
| Amounts receivable within one year | 40/41 | €1,740 | €6,574 | +€4,834 | +277.7% |
| Trade receivables | 40 | - | €1,755 | +€1,755 | |
| Other amounts receivable | 41 | €1,740 | €4,820 | +€3,079 | +176.9% |
| Cash at bank and in hand | 54/58 | €396,533 | €338,597 | -€57,935 | -14.6% |
| Deferred charges and accrued income | 490/1 | €249 | €498 | +€249 | +100.0% |
| Total equity and liabilities | 10/49 | €628,534 | €609,662 | -€18,872 | -3.0% |
| Equity | 10/15 | €624,682 | €604,053 | -€20,629 | -3.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €581,022 | €581,022 | = | 0.0% |
| Distributable reserves | 133 | €581,022 | €581,022 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,340 | -€38,968 | -€20,629 | -112.5% |
| Amounts payable | 17/49 | €3,852 | €5,609 | +€1,757 | +45.6% |
| Amounts payable within one year | 42/48 | €3,852 | €5,609 | +€1,757 | +45.6% |
| Trade debts | 44 | €597 | €2,241 | +€1,644 | +275.3% |
| Suppliers | 440/4 | €597 | €2,241 | +€1,644 | +275.3% |
| Other amounts payable | 47/48 | €3,255 | €3,368 | +€113 | +3.5% |
| Remuneration, social security and pensions | 62 | - | €3,936 | +€3,936 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,937 | €32,186 | +€7,249 | +29.1% |
| Other operating charges | 640/8 | €7,086 | €33,651 | +€26,565 | +374.9% |
| Gross operating margin | 9900 | €28,250 | €47,669 | +€19,419 | +68.7% |
| Operating profit (loss) | 9901 | -€3,773 | -€22,104 | -€18,330 | -485.8% |
| Financial income | 75/76B | €1,268 | €1,765 | +€497 | +39.2% |
| Recurring financial income | 75 | €1,268 | €1,765 | +€497 | +39.2% |
| Financial charges | 65/66B | €129 | €91 | -€39 | -30.0% |
| Recurring financial charges | 65 | €129 | €91 | -€39 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,635 | -€20,429 | -€17,794 | -675.3% |
| Income taxes | 67/77 | €316 | €199 | -€117 | -37.0% |
| Profit (loss) for the period | 9904 | -€2,951 | -€20,629 | -€17,677 | -598.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,951 | -€20,629 | -€17,677 | -598.9% |
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 4 October 2026 via checked.be.