GEOFRA: 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.
What changed
GEOFRA
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€250,640
2024 · €261,826-€11,186
Equity
€2.7m
2024 · €2.6m+€61,173
Cash
€697,895
2024 · €244,732+€453,163
Balance sheet total
€3.3m
2024 · €2.9m+€346,879
Largest movements
Assets
- Cash +€453,163
up €453,163 (+185.2%), from €244,732 to €697,895
mainly Other debts (+€298,638) and Net result for the year (+€250,640)
- Tangible fixed assets -€95,937
down €95,937 (-4.4%), from €2.2m to €2.1m
Equity and liabilities
- Other debts +€298,638
up €298,638 (+154.8%), from €192,978 to €491,617
- Reserves +€61,173
up €61,173 (+3.2%), from €1.9m to €2.0m
of which Non-distributable reserves: +€297,500
Income statement
- Financial income -€15,281
down €15,281 (-62.2%), from €24,579 to €9,298
- Taxes -€5,171
down €5,171 (-4.1%), from €125,383 to €120,212
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.
Result 2024
€261,826
Gross operating margin
-€812
Depreciation
-€618
Provisions
-€2,904
Other operating charges
-€377
Financial income
-€15,281
Financial charges
+€3,635
Taxes
+€5,171
Result 2025
€250,640
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.
From operations
+€647,479
Investment
-€4,849
Financing
-€189,467
Cash 2024
€244,732
From operations (derived)
+€647,479
Net result for the year
+€250,640
Depreciation
+€102,294
Receivables within one year
-€1,426
Deferred charges and accrued income
+€10,266
Provisions
-€2,284
Trade debts
-€338
Tax, wage and social debts
+€764
Other debts
+€298,638
Accrued charges and deferred income
-€11,074
Investment (derived)
-€4,849
Investment in fixed assets (net)
-€6,357
Current investments
+€1,508
Financing
-€189,467
Contributions, distributions and other
-€189,467
Cash 2025
€697,895
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,926,594 | €3,273,474 | +€346,879 | +11.9% |
| Fixed assets | 21/28 | €2,168,775 | €2,072,838 | -€95,937 | -4.4% |
| Tangible fixed assets | 22/27 | €2,168,775 | €2,072,838 | -€95,937 | -4.4% |
| Land and buildings | 22 | €2,168,775 | €2,072,838 | -€95,937 | -4.4% |
| Current assets | 29/58 | €757,819 | €1,200,636 | +€442,816 | +58.4% |
| Amounts receivable within one year | 40/41 | - | €1,426 | +€1,426 | |
| Other amounts receivable | 41 | - | €1,426 | +€1,426 | |
| Current investments | 50/53 | €500,000 | €498,492 | -€1,508 | -0.3% |
| Cash at bank and in hand | 54/58 | €244,732 | €697,895 | +€453,163 | +185.2% |
| Deferred charges and accrued income | 490/1 | €13,087 | €2,822 | -€10,266 | -78.4% |
| Total equity and liabilities | 10/49 | €2,926,594 | €3,273,474 | +€346,879 | +11.9% |
| Equity | 10/15 | €2,630,536 | €2,691,709 | +€61,173 | +2.3% |
| Contributions | 10/11 | €446,208 | €446,208 | = | 0.0% |
| Capital | 10 | €446,208 | €446,208 | = | 0.0% |
| Issued capital | 100 | €446,208 | €446,208 | = | 0.0% |
| Reserves | 13 | €1,909,884 | €1,971,058 | +€61,173 | +3.2% |
| Non-distributable reserves | 130/1 | €44,621 | €342,121 | +€297,500 | +666.7% |
| Legal reserve | 130 | €44,621 | €44,621 | +€0 | 0.0% |
| Own shares acquired | 1312 | - | €297,500 | +€297,500 | |
| Tax-exempt reserves | 132 | €100,155 | €93,303 | -€6,851 | -6.8% |
| Distributable reserves | 133 | €1,765,109 | €1,535,634 | -€229,475 | -13.0% |
| Profit (loss) carried forward | 14 | €274,443 | €274,443 | -€0 | 0.0% |
| Provisions and deferred taxes | 16 | €36,918 | €34,634 | -€2,284 | -6.2% |
| Provisions for liabilities and charges | 160/5 | €3,533 | €3,533 | = | 0.0% |
| Major repairs and maintenance | 162 | €3,533 | €3,533 | = | 0.0% |
| Deferred taxes | 168 | €33,385 | €31,101 | -€2,284 | -6.8% |
| Amounts payable | 17/49 | €259,141 | €547,131 | +€287,990 | +111.1% |
| Amounts payable within one year | 42/48 | €210,176 | €509,240 | +€299,064 | +142.3% |
| Trade debts | 44 | €3,644 | €3,306 | -€338 | -9.3% |
| Suppliers | 440/4 | €3,644 | €3,306 | -€338 | -9.3% |
| Taxes, remuneration and social security | 45 | €13,553 | €14,317 | +€764 | +5.6% |
| Taxes | 450/3 | €13,553 | €14,317 | +€764 | +5.6% |
| Other amounts payable | 47/48 | €192,978 | €491,617 | +€298,638 | +154.8% |
| Accrued charges and deferred income | 492/3 | €48,965 | €37,891 | -€11,074 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,676 | €102,294 | +€618 | +0.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,904 | - | +€2,904 | |
| Other operating charges | 640/8 | €15,390 | €15,766 | +€377 | +2.4% |
| Gross operating margin | 9900 | €478,623 | €477,811 | -€812 | -0.2% |
| Operating profit (loss) | 9901 | €364,461 | €359,750 | -€4,711 | -1.3% |
| Financial income | 75/76B | €24,579 | €9,298 | -€15,281 | -62.2% |
| Recurring financial income | 75 | €24,579 | €9,298 | -€15,281 | -62.2% |
| Financial charges | 65/66B | €4,115 | €480 | -€3,635 | -88.3% |
| Recurring financial charges | 65 | €4,115 | €480 | -€3,635 | -88.3% |
| Profit (loss) for the period before taxes | 9903 | €384,925 | €368,568 | -€16,357 | -4.2% |
| Transfer from deferred taxes | 780 | €2,284 | €2,284 | = | 0.0% |
| Income taxes | 67/77 | €125,383 | €120,212 | -€5,171 | -4.1% |
| Profit (loss) for the period | 9904 | €261,826 | €250,640 | -€11,186 | -4.3% |
| Transfer from tax-exempt reserves | 789 | €6,851 | €6,851 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €268,678 | €257,491 | -€11,186 | -4.2% |
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 8 October 2026 via checked.be.