GEODE: 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.
GEODE
Largest movements
- Tangible fixed assets +€317,143
up €317,143 (+305%), from €103,849 to €420,992
of which Land and buildings: +€308,779
- Receivables within one year +€121,835
up €121,835 (+103%), from €118,800 to €240,634
of which Trade receivables: +€98,722
- Cash -€105,619
down €105,619 (-56.3%), from €187,766 to €82,147
mainly Investment in fixed assets (net) (-€394,044) and Receivables within one year (-€121,835)
- Debts after one year +€242,317
up €242,317 (+5,708%), from €4,245 to €246,562
- Tax, wage and social debts +€43,244
up €43,244 (+108%), from €39,966 to €83,210
of which Remuneration and social security: +€37,563
- Reserves +€41,735
up €41,735 (+19.0%), from €219,714 to €261,448
- Trade debts +€13,630
up €13,630 (+102%), from €13,353 to €26,984
- Staff costs +€112,364
up €112,364 (+166%), from €67,573 to €179,936
- Depreciation +€55,535
up €55,535 (+260%), from €21,366 to €76,901
- Gross operating margin +€49,881
up €49,881 (+17.6%), from €282,728 to €332,609
- Taxes -€37,698
down €37,698 (-62.5%), from €60,334 to €22,636
- Financial charges +€4,872
up €4,872 (+152%), from €3,197 to €8,069
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.
Derived cash bridge
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 | €418,371 | €753,898 | +€335,526 | +80.2% |
| Fixed assets | 21/28 | €108,799 | €425,942 | +€317,143 | +291% |
| Tangible fixed assets | 22/27 | €103,849 | €420,992 | +€317,143 | +305% |
| Land and buildings | 22 | - | €308,779 | +€308,779 | |
| Plant, machinery and equipment | 23 | €13,538 | €20,304 | +€6,766 | +50.0% |
| Furniture and vehicles | 24 | €39,151 | €26,301 | -€12,850 | -32.8% |
| Other tangible fixed assets | 26 | €23,641 | €20,089 | -€3,552 | -15.0% |
| Assets under construction and advance payments | 27 | €27,520 | €45,520 | +€18,000 | +65.4% |
| Financial fixed assets | 28 | €4,950 | €4,950 | = | 0.0% |
| Current assets | 29/58 | €309,572 | €327,955 | +€18,383 | +5.9% |
| Amounts receivable within one year | 40/41 | €118,800 | €240,634 | +€121,835 | +103% |
| Trade receivables | 40 | €74,438 | €173,160 | +€98,722 | +133% |
| Other amounts receivable | 41 | €44,362 | €67,474 | +€23,112 | +52.1% |
| Cash at bank and in hand | 54/58 | €187,766 | €82,147 | -€105,619 | -56.3% |
| Deferred charges and accrued income | 490/1 | €3,006 | €5,174 | +€2,168 | +72.1% |
| Total equity and liabilities | 10/49 | €418,371 | €753,898 | +€335,526 | +80.2% |
| Equity | 10/15 | €307,534 | €349,269 | +€41,735 | +13.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €219,714 | €261,448 | +€41,735 | +19.0% |
| Distributable reserves | 133 | €219,714 | €261,448 | +€41,735 | +19.0% |
| Investment grants | 15 | €75,420 | €75,420 | = | 0.0% |
| Amounts payable | 17/49 | €110,838 | €404,629 | +€293,791 | +265% |
| Amounts payable after more than one year | 17 | €4,245 | €246,562 | +€242,317 | +5,708% |
| Financial debts | 170/4 | €4,245 | €246,562 | +€242,317 | +5,708% |
| Amounts payable within one year | 42/48 | €106,537 | €158,067 | +€51,530 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | €52,359 | €47,041 | -€5,318 | -10.2% |
| Trade debts | 44 | €13,353 | €26,984 | +€13,630 | +102% |
| Suppliers | 440/4 | €13,353 | €26,984 | +€13,630 | +102% |
| Taxes, remuneration and social security | 45 | €39,966 | €83,210 | +€43,244 | +108% |
| Taxes | 450/3 | €20,334 | €26,015 | +€5,681 | +27.9% |
| Remuneration and social security | 454/9 | €19,632 | €57,195 | +€37,563 | +191% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Accrued charges and deferred income | 492/3 | €55 | - | -€55 | |
| Remuneration, social security and pensions | 62 | €67,573 | €179,936 | +€112,364 | +166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,366 | €76,901 | +€55,535 | +260% |
| Other operating charges | 640/8 | €1,129 | €2,557 | +€1,428 | +126% |
| Gross operating margin | 9900 | €282,728 | €332,609 | +€49,881 | +17.6% |
| Operating profit (loss) | 9901 | €192,660 | €73,214 | -€119,446 | -62.0% |
| Financial income | 75/76B | €4 | €59 | +€55 | +1,371% |
| Recurring financial income | 75 | €4 | €59 | +€55 | +1,371% |
| Financial charges | 65/66B | €3,197 | €8,069 | +€4,872 | +152% |
| Recurring financial charges | 65 | €3,197 | €8,069 | +€4,872 | +152% |
| Profit (loss) for the period before taxes | 9903 | €189,467 | €65,204 | -€124,263 | -65.6% |
| Income taxes | 67/77 | €60,334 | €22,636 | -€37,698 | -62.5% |
| Profit (loss) for the period | 9904 | €129,133 | €42,568 | -€86,565 | -67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €129,133 | €42,568 | -€86,565 | -67.0% |
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 13 October 2026 via checked.be.