GEOREN: 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.
GEOREN
Largest movements
- Tangible fixed assets +€108,972
up €108,972 (+55.4%), from €196,762 to €305,733
of which Assets under construction and advance payments: +€110,733
- Receivables within one year +€10,654
up €10,654 (+791.5%), from €1,346 to €12,000
of which Trade receivables: +€12,000
- Cash +€3,392
up €3,392 (+373.4%), from €908 to €4,300
mainly Debts after one year (+€103,466) and Other debts (+€22,592)
- Debts after one year +€103,466
up €103,466 (+42.5%), from €243,631 to €347,097
of which Financial debts: +€100,966
- Other debts +€22,592
up €22,592 (+3848.5%), from €587 to €23,179
- Profit (loss) carried forward -€5,579
down €5,579 (-10.1%), from -€55,048 to -€60,627
- Depreciation -€27,186
down €27,186 (-92.5%), from €29,393 to €2,207
- Gross operating margin +€15,102
up €15,102, from -€10,257 to €4,845
- Financial charges -€6,733
down €6,733 (-46.9%), from €14,348 to €7,615
- Other operating charges -€447
down €447 (-42.6%), from €1,049 to €602
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 | €200,707 | €323,280 | +€122,572 | +61.1% |
| Formation expenses | 20 | €1,691 | €1,246 | -€445 | -26.3% |
| Fixed assets | 21/28 | €196,762 | €305,733 | +€108,972 | +55.4% |
| Tangible fixed assets | 22/27 | €196,762 | €305,733 | +€108,972 | +55.4% |
| Land and buildings | 22 | €196,762 | €195,000 | -€1,762 | -0.9% |
| Assets under construction and advance payments | 27 | - | €110,733 | +€110,733 | |
| Current assets | 29/58 | €2,254 | €16,300 | +€14,046 | +623.0% |
| Amounts receivable within one year | 40/41 | €1,346 | €12,000 | +€10,654 | +791.5% |
| Trade receivables | 40 | - | €12,000 | +€12,000 | |
| Other amounts receivable | 41 | €1,346 | €0 | -€1,346 | -100.0% |
| Cash at bank and in hand | 54/58 | €908 | €4,300 | +€3,392 | +373.4% |
| Total equity and liabilities | 10/49 | €200,707 | €323,280 | +€122,572 | +61.1% |
| Equity | 10/15 | -€50,048 | -€55,627 | -€5,579 | -11.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,048 | -€60,627 | -€5,579 | -10.1% |
| Amounts payable | 17/49 | €250,755 | €378,906 | +€128,151 | +51.1% |
| Amounts payable after more than one year | 17 | €243,631 | €347,097 | +€103,466 | +42.5% |
| Financial debts | 170/4 | €152,631 | €253,597 | +€100,966 | +66.2% |
| Other amounts payable | 178/9 | €91,000 | €93,500 | +€2,500 | +2.7% |
| Amounts payable within one year | 42/48 | €7,124 | €31,597 | +€24,473 | +343.5% |
| Current portion of amounts payable after more than one year | 42 | €5,926 | €6,178 | +€252 | +4.2% |
| Trade debts | 44 | €611 | €144 | -€467 | -76.4% |
| Suppliers | 440/4 | €611 | €144 | -€467 | -76.4% |
| Taxes, remuneration and social security | 45 | - | €2,097 | +€2,097 | |
| Taxes | 450/3 | - | €2,097 | +€2,097 | |
| Other amounts payable | 47/48 | €587 | €23,179 | +€22,592 | +3848.5% |
| Accrued charges and deferred income | 492/3 | - | €212 | +€212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,393 | €2,207 | -€27,186 | -92.5% |
| Other operating charges | 640/8 | €1,049 | €602 | -€447 | -42.6% |
| Gross operating margin | 9900 | -€10,257 | €4,845 | +€15,102 | |
| Operating profit (loss) | 9901 | -€40,699 | €2,036 | +€42,736 | |
| Financial charges | 65/66B | €14,348 | €7,615 | -€6,733 | -46.9% |
| Recurring financial charges | 65 | €14,348 | €7,615 | -€6,733 | -46.9% |
| Profit (loss) for the period before taxes | 9903 | -€55,048 | -€5,579 | +€49,469 | +89.9% |
| Profit (loss) for the period | 9904 | -€55,048 | -€5,579 | +€49,469 | +89.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,048 | -€5,579 | +€49,469 | +89.9% |
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 2 October 2026 via checked.be.