GEO-D: what changed
Two financial 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.
GEO-D
Largest movements
- Cash +€34,102
up €34,102 (+49.0%), from €69,640 to €103,742
mainly Net result for the year (+€36,562) and Depreciation (+€8,652)
- Receivables within one year +€9,388
up €9,388 (+6.2%), from €151,569 to €160,957
of which Trade receivables: +€15,270
- Tangible fixed assets -€5,324
down €5,324 (-22.4%), from €23,725 to €18,401
of which Plant, machinery and equipment: -€6,888
- Reserves +€36,562
up €36,562 (+20.7%), from €176,726 to €213,288
of which Distributable reserves: +€36,562
- Trade debts +€6,326
up €6,326 (+333.8%), from €1,895 to €8,222
- Debts after one year -€5,207
down €5,207 (-48.9%), from €10,640 to €5,433
- Gross operating margin +€37,372
up €37,372 (+145.2%), from €25,730 to €63,102
- Taxes +€11,528
up €11,528 (+345.1%), from €3,340 to €14,868
- Depreciation -€2,481
down €2,481 (-22.3%), from €11,132 to €8,652
- Financial charges -€813
down €813 (-23.9%), from €3,405 to €2,592
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 | €251,784 | €290,692 | +€38,908 | +15.5% |
| Fixed assets | 21/28 | €25,825 | €18,401 | -€7,424 | -28.7% |
| Tangible fixed assets | 22/27 | €23,725 | €18,401 | -€5,324 | -22.4% |
| Plant, machinery and equipment | 23 | €18,652 | €11,764 | -€6,888 | -36.9% |
| Furniture and vehicles | 24 | €4,161 | €5,954 | +€1,793 | +43.1% |
| Other tangible fixed assets | 26 | €912 | €684 | -€228 | -25.0% |
| Financial fixed assets | 28 | €2,100 | €0 | -€2,100 | -100.0% |
| Current assets | 29/58 | €225,959 | €272,291 | +€46,332 | +20.5% |
| Amounts receivable within one year | 40/41 | €151,569 | €160,957 | +€9,388 | +6.2% |
| Trade receivables | 40 | €145,301 | €160,572 | +€15,270 | +10.5% |
| Other amounts receivable | 41 | €6,268 | €386 | -€5,882 | -93.8% |
| Cash at bank and in hand | 54/58 | €69,640 | €103,742 | +€34,102 | +49.0% |
| Deferred charges and accrued income | 490/1 | €4,750 | €7,591 | +€2,842 | +59.8% |
| Total equity and liabilities | 10/49 | €251,784 | €290,692 | +€38,908 | +15.5% |
| Equity | 10/15 | €183,031 | €219,593 | +€36,562 | +20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €176,726 | €213,288 | +€36,562 | +20.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €176,726 | €213,288 | +€36,562 | +20.7% |
| Profit (loss) carried forward | 14 | €106 | €106 | = | 0.0% |
| Amounts payable | 17/49 | €68,753 | €71,099 | +€2,346 | +3.4% |
| Amounts payable after more than one year | 17 | €10,640 | €5,433 | -€5,207 | -48.9% |
| Financial debts | 170/4 | €10,640 | €5,433 | -€5,207 | -48.9% |
| Amounts payable within one year | 42/48 | €58,113 | €65,666 | +€7,553 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €4,991 | €5,207 | +€216 | +4.3% |
| Trade debts | 44 | €1,895 | €8,222 | +€6,326 | +333.8% |
| Suppliers | 440/4 | €1,895 | €8,222 | +€6,326 | +333.8% |
| Taxes, remuneration and social security | 45 | €10,408 | €12,443 | +€2,035 | +19.6% |
| Taxes | 450/3 | €10,408 | €12,443 | +€2,035 | +19.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €40,818 | €39,794 | -€1,024 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,132 | €8,652 | -€2,481 | -22.3% |
| Other operating charges | 640/8 | €604 | €524 | -€80 | -13.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €25,730 | €63,102 | +€37,372 | +145.2% |
| Operating profit (loss) | 9901 | €13,994 | €53,927 | +€39,933 | +285.4% |
| Financial income | 75/76B | €31 | €95 | +€64 | +203.1% |
| Recurring financial income | 75 | €31 | €95 | +€64 | +203.1% |
| Financial charges | 65/66B | €3,405 | €2,592 | -€813 | -23.9% |
| Recurring financial charges | 65 | €3,405 | €2,592 | -€813 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €10,621 | €51,430 | +€40,810 | +384.3% |
| Income taxes | 67/77 | €3,340 | €14,868 | +€11,528 | +345.1% |
| Profit (loss) for the period | 9904 | €7,280 | €36,562 | +€29,282 | +402.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,280 | €36,562 | +€29,282 | +402.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.