GEO: 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.
What changed
GEO
NACE 49.310, Scheduled passenger transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€298,729
2024 · €270,680+€28,049
Equity
€1.9m
2024 · €1.6m+€298,729
Cash
€630,624
2024 · €361,364+€269,260
Balance sheet total
€3.6m
2024 · €3.6m+€31,379
Largest movements
Assets
- Tangible fixed assets -€301,327
down €301,327 (-9.7%), from €3.1m to €2.8m
of which Furniture and vehicles: -€494,369
- Cash +€269,260
up €269,260 (+74.5%), from €361,364 to €630,624
mainly Depreciation (+€809,062) and Net result for the year (+€298,729)
- Receivables within one year +€60,964
up €60,964 (+54.2%), from €112,561 to €173,526
of which Trade receivables: +€41,844
Equity and liabilities
- Reserves +€298,729
up €298,729 (+18.6%), from €1.6m to €1.9m
of which Distributable reserves: +€298,729
- Debts after one year -€201,616
down €201,616 (-34.0%), from €593,709 to €392,092
- Other debts -€170,603
down €170,603 (-16.7%), from €1.0m to €849,186
- Trade debts +€88,696
up €88,696 (+317.4%), from €27,947 to €116,643
Income statement
- Turnover +€676,009
up €676,009 (+23.1%), from €2.9m to €3.6m
- Services and other goods +€324,316
up €324,316 (+27.1%), from €1.2m to €1.5m
- Depreciation +€120,725
up €120,725 (+17.5%), from €688,337 to €809,062
- Staff costs +€109,162
up €109,162 (+9.4%), from €1.2m to €1.3m
- Other operating income +€69,784
up €69,784 (+15.1%), from €462,693 to €532,477
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.
Result 2024
€270,680
Turnover
+€676,009
Other operating income
+€69,784
Goods and materials
-€8,091
Services and other goods
-€324,316
Staff costs
-€109,162
Depreciation
-€120,725
Other operating charges
+€2,852
Other operating items
-€106,859
Financial income
-€374
Financial charges
-€629
Taxes
-€50,441
Result 2025
€298,729
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.
From operations
+€977,650
Investment
-€507,735
Financing
-€200,655
Cash 2024
€361,364
From operations (derived)
+€977,650
Net result for the year
+€298,729
Depreciation
+€809,062
Receivables within one year
-€60,964
Deferred charges and accrued income
-€2,481
Trade debts
+€88,696
Tax, wage and social debts
+€12,849
Other debts
-€170,603
Accrued charges and deferred income
+€2,363
Investment (derived)
-€507,735
Investment in fixed assets (net)
-€507,735
Financing
-€200,655
Debts after one year
-€201,616
Current portion of long-term debt
+€962
Cash 2025
€630,624
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,609,859 | €3,641,237 | +€31,379 | +0.9% |
| Fixed assets | 21/28 | €3,108,864 | €2,807,538 | -€301,327 | -9.7% |
| Tangible fixed assets | 22/27 | €3,105,864 | €2,804,538 | -€301,327 | -9.7% |
| Land and buildings | 22 | €358,671 | €339,071 | -€19,599 | -5.5% |
| Plant, machinery and equipment | 23 | €368,435 | €616,005 | +€247,570 | +67.2% |
| Furniture and vehicles | 24 | €2,249,375 | €1,755,006 | -€494,369 | -22.0% |
| Other tangible fixed assets | 26 | €129,384 | €94,456 | -€34,929 | -27.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €500,994 | €833,699 | +€332,705 | +66.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €112,561 | €173,526 | +€60,964 | +54.2% |
| Trade receivables | 40 | €83,795 | €125,639 | +€41,844 | +49.9% |
| Other amounts receivable | 41 | €28,766 | €47,887 | +€19,121 | +66.5% |
| Cash at bank and in hand | 54/58 | €361,364 | €630,624 | +€269,260 | +74.5% |
| Deferred charges and accrued income | 490/1 | €27,069 | €29,550 | +€2,481 | +9.2% |
| Total equity and liabilities | 10/49 | €3,609,859 | €3,641,237 | +€31,379 | +0.9% |
| Equity | 10/15 | €1,640,307 | €1,939,035 | +€298,729 | +18.2% |
| Contributions | 10/11 | €31,448 | €31,448 | = | 0.0% |
| Reserves | 13 | €1,608,859 | €1,907,588 | +€298,729 | +18.6% |
| Non-distributable reserves | 130/1 | €14,300 | €14,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,300 | €14,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,006,395 | €1,006,395 | = | 0.0% |
| Distributable reserves | 133 | €588,164 | €886,893 | +€298,729 | +50.8% |
| Amounts payable | 17/49 | €1,969,552 | €1,702,202 | -€267,350 | -13.6% |
| Amounts payable after more than one year | 17 | €593,709 | €392,092 | -€201,616 | -34.0% |
| Financial debts | 170/4 | €593,709 | €392,092 | -€201,616 | -34.0% |
| Credit institutions | 173 | €593,709 | €392,092 | -€201,616 | -34.0% |
| Amounts payable within one year | 42/48 | €1,350,188 | €1,282,091 | -€68,097 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €200,655 | €201,616 | +€962 | +0.5% |
| Trade debts | 44 | €27,947 | €116,643 | +€88,696 | +317.4% |
| Suppliers | 440/4 | €27,947 | €116,643 | +€88,696 | +317.4% |
| Taxes, remuneration and social security | 45 | €101,797 | €114,646 | +€12,849 | +12.6% |
| Taxes | 450/3 | €240 | €76 | -€163 | -68.2% |
| Remuneration and social security | 454/9 | €101,557 | €114,569 | +€13,012 | +12.8% |
| Other amounts payable | 47/48 | €1,019,790 | €849,186 | -€170,603 | -16.7% |
| Accrued charges and deferred income | 492/3 | €25,656 | €28,019 | +€2,363 | +9.2% |
| Operating income | 70/76A | €3,493,420 | €4,132,354 | +€638,935 | +18.3% |
| Turnover | 70 | €2,923,868 | €3,599,877 | +€676,009 | +23.1% |
| Other operating income | 74 | €462,693 | €532,477 | +€69,784 | +15.1% |
| Non-recurring operating income | 76A | €106,859 | €0 | -€106,859 | -100.0% |
| Operating charges | 60/66A | €3,160,291 | €3,719,732 | +€559,441 | +17.7% |
| Goods for resale, raw materials and consumables | 60 | €64,988 | €73,079 | +€8,091 | +12.4% |
| Purchases | 600/8 | €64,988 | €73,079 | +€8,091 | +12.4% |
| Services and other goods | 61 | €1,198,349 | €1,522,665 | +€324,316 | +27.1% |
| Remuneration, social security and pensions | 62 | €1,157,397 | €1,266,559 | +€109,162 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €688,337 | €809,062 | +€120,725 | +17.5% |
| Other operating charges | 640/8 | €51,218 | €48,366 | -€2,852 | -5.6% |
| Operating profit (loss) | 9901 | €333,129 | €412,623 | +€79,494 | +23.9% |
| Financial income | 75/76B | €1,811 | €1,437 | -€374 | -20.7% |
| Recurring financial income | 75 | €1,811 | €1,437 | -€374 | -20.7% |
| Income from current assets | 751 | €1,618 | €1,434 | -€184 | -11.4% |
| Other financial income | 752/9 | €193 | €3 | -€190 | -98.4% |
| Financial charges | 65/66B | €48,258 | €48,887 | +€629 | +1.3% |
| Recurring financial charges | 65 | €48,258 | €48,887 | +€629 | +1.3% |
| Debt charges | 650 | €48,177 | €48,690 | +€513 | +1.1% |
| Other financial charges | 652/9 | €81 | €197 | +€116 | +143.5% |
| Profit (loss) for the period before taxes | 9903 | €286,682 | €365,173 | +€78,490 | +27.4% |
| Income taxes | 67/77 | €16,003 | €66,444 | +€50,441 | +315.2% |
| Taxes | 670/3 | €16,003 | €66,444 | +€50,441 | +315.2% |
| Profit (loss) for the period | 9904 | €270,680 | €298,729 | +€28,049 | +10.4% |
| Transfer to tax-exempt reserves | 689 | €106,859 | €0 | -€106,859 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €163,821 | €298,729 | +€134,908 | +82.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.