GEO-MAX: 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.
GEO-MAX
Largest movements
- Cash -€26,219
down €26,219 (-85.2%), from €30,779 to €4,560
mainly Trade debts (-€19,295) and Receivables within one year (-€18,943)
- Receivables within one year +€18,943
up €18,943 (+35.6%), from €53,226 to €72,169
of which Other amounts receivable: +€27,309
- Tangible fixed assets -€11,401
down €11,401 (-25.3%), from €45,078 to €33,677
of which Leasing and similar rights: -€21,098
- Trade debts -€19,295
down €19,295 (-22.7%), from €84,984 to €65,689
of which Suppliers: -€22,889
- Other debts +€7,440
up €7,440 (+701.9%), from €1,060 to €8,500
- Tax, wage and social debts -€4,148
down €4,148 (-21.3%), from €19,485 to €15,337
of which Remuneration and social security: -€6,457
- Profit (loss) carried forward -€1,677
down €1,677 (-91.6%), from €1,831 to €154
- Debts after one year -€1,351
down €1,351 (-5.9%), from €23,043 to €21,692
- Gross operating margin +€15,553
up €15,553 (+22.7%), from €68,569 to €84,122
- Staff costs +€5,497
up €5,497 (+13.6%), from €40,525 to €46,022
- Other operating charges +€906
up €906 (+71.9%), from €1,260 to €2,166
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 | €130,403 | €111,372 | -€19,032 | -14.6% |
| Fixed assets | 21/28 | €45,258 | €34,157 | -€11,101 | -24.5% |
| Tangible fixed assets | 22/27 | €45,078 | €33,677 | -€11,401 | -25.3% |
| Plant, machinery and equipment | 23 | €190 | - | -€190 | |
| Furniture and vehicles | 24 | €7,049 | €16,935 | +€9,886 | +140.2% |
| Leasing and similar rights | 25 | €37,839 | €16,742 | -€21,098 | -55.8% |
| Financial fixed assets | 28 | €180 | €480 | +€300 | +166.7% |
| Current assets | 29/58 | €85,145 | €77,215 | -€7,930 | -9.3% |
| Amounts receivable within one year | 40/41 | €53,226 | €72,169 | +€18,943 | +35.6% |
| Trade receivables | 40 | €27,769 | €19,403 | -€8,366 | -30.1% |
| Other amounts receivable | 41 | €25,457 | €52,766 | +€27,309 | +107.3% |
| Cash at bank and in hand | 54/58 | €30,779 | €4,560 | -€26,219 | -85.2% |
| Deferred charges and accrued income | 490/1 | €1,140 | €486 | -€654 | -57.4% |
| Total equity and liabilities | 10/49 | €130,403 | €111,372 | -€19,032 | -14.6% |
| Equity | 10/15 | €1,831 | €154 | -€1,677 | -91.6% |
| Profit (loss) carried forward | 14 | €1,831 | €154 | -€1,677 | -91.6% |
| Amounts payable | 17/49 | €128,572 | €111,218 | -€17,354 | -13.5% |
| Amounts payable after more than one year | 17 | €23,043 | €21,692 | -€1,351 | -5.9% |
| Financial debts | 170/4 | €23,043 | €21,692 | -€1,351 | -5.9% |
| Amounts payable within one year | 42/48 | €105,529 | €89,526 | -€16,003 | -15.2% |
| Trade debts | 44 | €84,984 | €65,689 | -€19,295 | -22.7% |
| Suppliers | 440/4 | €84,984 | €62,095 | -€22,889 | -26.9% |
| Bills of exchange payable | 441 | - | €3,594 | +€3,594 | |
| Taxes, remuneration and social security | 45 | €19,485 | €15,337 | -€4,148 | -21.3% |
| Taxes | 450/3 | €7,472 | €9,781 | +€2,309 | +30.9% |
| Remuneration and social security | 454/9 | €12,013 | €5,556 | -€6,457 | -53.8% |
| Other amounts payable | 47/48 | €1,060 | €8,500 | +€7,440 | +701.9% |
| Remuneration, social security and pensions | 62 | €40,525 | €46,022 | +€5,497 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,359 | €21,072 | -€287 | -1.3% |
| Other operating charges | 640/8 | €1,260 | €2,166 | +€906 | +71.9% |
| Gross operating margin | 9900 | €68,569 | €84,122 | +€15,553 | +22.7% |
| Operating profit (loss) | 9901 | €5,425 | €14,862 | +€9,437 | +173.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +4800.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +4800.0% |
| Financial charges | 65/66B | €1,884 | €1,886 | +€2 | +0.1% |
| Recurring financial charges | 65 | €1,884 | €1,886 | +€2 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €3,542 | €12,976 | +€9,435 | +266.4% |
| Income taxes | 67/77 | €5,412 | €4,654 | -€759 | -14.0% |
| Profit (loss) for the period | 9904 | -€1,871 | €8,323 | +€10,193 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,871 | €8,323 | +€10,193 |
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 5 October 2026 via checked.be.