GEO2W: 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.
GEO2W
Largest movements
- Cash -€46,130
down €46,130 (-16.8%), from €274,722 to €228,592
mainly Contributions, distributions and other (-€46,413) and Net result for the year (-€39,057)
- Tangible fixed assets -€43,898
down €43,898 (-17.9%), from €244,651 to €200,753
- Receivables within one year +€20,925
up €20,925 (+241.8%), from €8,655 to €29,580
of which Other amounts receivable: +€24,099
- Reserves -€45,000
down €45,000 (-23.4%), from €192,294 to €147,294
- Other debts +€45,000
new in 2025: €45,000
- Profit (loss) carried forward -€39,057
down €39,057 (-25.9%), from €151,036 to €111,979
- Debts after one year -€22,344
down €22,344 (-21.4%), from €104,230 to €81,886
- Gross operating margin -€73,130
down €73,130, from €66,883 to -€6,247
- Taxes -€10,159
down €10,159, from €9,700 to -€459
- Depreciation -€6,669
down €6,669 (-21.5%), from €30,990 to €24,321
- Other operating charges +€5,448
up €5,448 (+201.5%), from €2,703 to €8,151
- Financial income +€1,810
up €1,810 (+6702.9%), from €27 to €1,837
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 | €529,908 | €459,041 | -€70,867 | -13.4% |
| Fixed assets | 21/28 | €244,651 | €200,753 | -€43,898 | -17.9% |
| Tangible fixed assets | 22/27 | €244,651 | €200,753 | -€43,898 | -17.9% |
| Land and buildings | 22 | €179,489 | €172,694 | -€6,794 | -3.8% |
| Plant, machinery and equipment | 23 | €5,490 | - | -€5,490 | |
| Furniture and vehicles | 24 | €40,207 | €28,059 | -€12,149 | -30.2% |
| Other tangible fixed assets | 26 | €19,465 | - | -€19,465 | |
| Current assets | 29/58 | €285,257 | €258,288 | -€26,969 | -9.5% |
| Amounts receivable within one year | 40/41 | €8,655 | €29,580 | +€20,925 | +241.8% |
| Trade receivables | 40 | €7,163 | €3,989 | -€3,174 | -44.3% |
| Other amounts receivable | 41 | €1,492 | €25,591 | +€24,099 | +1615.1% |
| Cash at bank and in hand | 54/58 | €274,722 | €228,592 | -€46,130 | -16.8% |
| Deferred charges and accrued income | 490/1 | €1,880 | €115 | -€1,765 | -93.9% |
| Total equity and liabilities | 10/49 | €529,908 | €459,041 | -€70,867 | -13.4% |
| Equity | 10/15 | €378,719 | €293,249 | -€85,470 | -22.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,550 | - | -€18,550 | |
| Uncalled capital | 101 | €6,150 | - | -€6,150 | |
| Reserves | 13 | €192,294 | €147,294 | -€45,000 | -23.4% |
| Distributable reserves | 133 | €192,294 | €147,294 | -€45,000 | -23.4% |
| Profit (loss) carried forward | 14 | €151,036 | €111,979 | -€39,057 | -25.9% |
| Investment grants | 15 | €22,989 | €21,575 | -€1,413 | -6.1% |
| Amounts payable | 17/49 | €151,189 | €165,792 | +€14,603 | +9.7% |
| Amounts payable after more than one year | 17 | €104,230 | €81,886 | -€22,344 | -21.4% |
| Financial debts | 170/4 | €104,230 | €81,886 | -€22,344 | -21.4% |
| Amounts payable within one year | 42/48 | €42,558 | €83,907 | +€41,348 | +97.2% |
| Current portion of amounts payable after more than one year | 42 | €21,982 | €20,344 | -€1,638 | -7.5% |
| Trade debts | 44 | €15,831 | €12,700 | -€3,132 | -19.8% |
| Suppliers | 440/4 | €15,831 | €12,700 | -€3,132 | -19.8% |
| Taxes, remuneration and social security | 45 | €4,745 | €5,863 | +€1,118 | +23.6% |
| Taxes | 450/3 | €4,745 | €5,863 | +€1,118 | +23.6% |
| Other amounts payable | 47/48 | - | €45,000 | +€45,000 | |
| Accrued charges and deferred income | 492/3 | €4,401 | - | -€4,401 | |
| Non-recurring operating income | 76A | - | €2,036 | +€2,036 | |
| Remuneration, social security and pensions | 62 | €1,799 | - | -€1,799 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,990 | €24,321 | -€6,669 | -21.5% |
| Other operating charges | 640/8 | €2,703 | €8,151 | +€5,448 | +201.5% |
| Gross operating margin | 9900 | €66,883 | -€6,247 | -€73,130 | |
| Operating profit (loss) | 9901 | €31,390 | -€38,719 | -€70,109 | |
| Financial income | 75/76B | €27 | €1,837 | +€1,810 | +6702.9% |
| Recurring financial income | 75 | €27 | €1,837 | +€1,810 | +6702.9% |
| Financial charges | 65/66B | €3,278 | €2,634 | -€644 | -19.7% |
| Recurring financial charges | 65 | €3,215 | €2,570 | -€645 | -20.1% |
| Non-recurring financial charges | 66B | €63 | €64 | +€1 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €28,139 | -€39,516 | -€67,655 | |
| Income taxes | 67/77 | €9,700 | -€459 | -€10,159 | |
| Profit (loss) for the period | 9904 | €18,439 | -€39,057 | -€57,496 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,439 | -€39,057 | -€57,496 |
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 30 September 2026 via checked.be.