GEO4: 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.
GEO4
Largest movements
- Receivables within one year +€34,078
up €34,078 (+42.4%), from €80,350 to €114,428
of which Trade receivables: +€33,764
- Cash -€13,972
down €13,972 (-45.0%), from €31,062 to €17,090
mainly Receivables within one year (-€34,078) and Tax, wage and social debts (-€12,583)
- Tangible fixed assets +€1,816
up €1,816 (+109.4%), from €1,659 to €3,475
of which Furniture and vehicles: +€2,003
- Deferred charges and accrued income -€1,490
down €1,490 (-48.1%), from €3,097 to €1,607
- Trade debts +€30,317
up €30,317 (+73.1%), from €41,484 to €71,801
- Tax, wage and social debts -€12,583
down €12,583 (-75.7%), from €16,632 to €4,049
- Other debts +€1,884
up €1,884 (+3089.2%), from €61 to €1,945
- Gross operating margin -€17,481
down €17,481 (-88.9%), from €19,665 to €2,184
- Taxes -€3,566
down €3,566 (-93.6%), from €3,808 to €242
- Other operating charges +€431
up €431 (+1723.2%), from €25 to €456
- Depreciation +€284
up €284 (+64.1%), from €443 to €726
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 | €117,004 | €137,182 | +€20,177 | +17.2% |
| Formation expenses | 20 | €837 | €581 | -€256 | -30.5% |
| Fixed assets | 21/28 | €1,659 | €3,475 | +€1,816 | +109.4% |
| Tangible fixed assets | 22/27 | €1,659 | €3,475 | +€1,816 | +109.4% |
| Plant, machinery and equipment | 23 | €1,659 | €1,472 | -€187 | -11.3% |
| Furniture and vehicles | 24 | - | €2,003 | +€2,003 | |
| Current assets | 29/58 | €114,508 | €133,125 | +€18,617 | +16.3% |
| Amounts receivable within one year | 40/41 | €80,350 | €114,428 | +€34,078 | +42.4% |
| Trade receivables | 40 | €72,925 | €106,688 | +€33,764 | +46.3% |
| Other amounts receivable | 41 | €7,425 | €7,740 | +€315 | +4.2% |
| Cash at bank and in hand | 54/58 | €31,062 | €17,090 | -€13,972 | -45.0% |
| Deferred charges and accrued income | 490/1 | €3,097 | €1,607 | -€1,490 | -48.1% |
| Total equity and liabilities | 10/49 | €117,004 | €137,182 | +€20,177 | +17.2% |
| Equity | 10/15 | €58,828 | €59,386 | +€558 | +0.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,828 | €54,386 | +€558 | +1.0% |
| Amounts payable | 17/49 | €58,177 | €77,796 | +€19,619 | +33.7% |
| Amounts payable within one year | 42/48 | €58,177 | €77,796 | +€19,619 | +33.7% |
| Trade debts | 44 | €41,484 | €71,801 | +€30,317 | +73.1% |
| Suppliers | 440/4 | €41,484 | €71,801 | +€30,317 | +73.1% |
| Taxes, remuneration and social security | 45 | €16,632 | €4,049 | -€12,583 | -75.7% |
| Taxes | 450/3 | €16,632 | €4,049 | -€12,583 | -75.7% |
| Other amounts payable | 47/48 | €61 | €1,945 | +€1,884 | +3089.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €443 | €726 | +€284 | +64.1% |
| Other operating charges | 640/8 | €25 | €456 | +€431 | +1723.2% |
| Gross operating margin | 9900 | €19,665 | €2,184 | -€17,481 | -88.9% |
| Operating profit (loss) | 9901 | €19,197 | €1,002 | -€18,196 | -94.8% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €185 | €202 | +€18 | +9.6% |
| Recurring financial charges | 65 | €185 | €202 | +€18 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €19,013 | €800 | -€18,213 | -95.8% |
| Income taxes | 67/77 | €3,808 | €242 | -€3,566 | -93.6% |
| Profit (loss) for the period | 9904 | €15,205 | €558 | -€14,647 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,205 | €558 | -€14,647 | -96.3% |
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 29 September 2026 via checked.be.