GEORGE-BP: 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.
GEORGE-BP
Largest movements
- Tangible fixed assets -€19,331
down €19,331 (-25.9%), from €74,520 to €55,190
of which Other tangible fixed assets: -€10,167
- Debts after one year -€22,769
down €22,769 (-47.2%), from €48,256 to €25,487
- Current portion of long-term debt -€7,200
down €7,200 (-24.8%), from €29,087 to €21,887
- Other debts +€5,738
up €5,738 (+27.0%), from €21,283 to €27,021
- Profit (loss) carried forward +€4,043
up €4,043 (+5.7%), from -€71,359 to -€67,316
- Short-term financial debts +€2,175
up €2,175 (+25.6%), from €8,485 to €10,660
- Gross operating margin -€3,473
down €3,473 (-10.3%), from €33,632 to €30,159
- Financial charges -€571
down €571 (-13.8%), from €4,126 to €3,555
- Staff costs -€358
down €358 (-100%), from €358 to €0
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 | €88,993 | €70,465 | -€18,527 | -20.8% |
| Fixed assets | 21/28 | €79,170 | €59,840 | -€19,331 | -24.4% |
| Tangible fixed assets | 22/27 | €74,520 | €55,190 | -€19,331 | -25.9% |
| Plant, machinery and equipment | 23 | €14,303 | €5,550 | -€8,753 | -61.2% |
| Furniture and vehicles | 24 | €3,169 | €2,758 | -€411 | -13.0% |
| Other tangible fixed assets | 26 | €57,048 | €46,881 | -€10,167 | -17.8% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €9,822 | €10,626 | +€804 | +8.2% |
| Stocks and contracts in progress | 3 | €6,768 | €6,135 | -€634 | -9.4% |
| Stocks | 30/36 | €6,768 | €6,135 | -€634 | -9.4% |
| Amounts receivable within one year | 40/41 | €474 | €1,175 | +€701 | +148% |
| Trade receivables | 40 | €30 | €724 | +€694 | +2,312% |
| Other amounts receivable | 41 | €444 | €452 | +€8 | +1.8% |
| Cash at bank and in hand | 54/58 | €2,369 | €3,233 | +€864 | +36.5% |
| Deferred charges and accrued income | 490/1 | €211 | €83 | -€128 | -60.6% |
| Total equity and liabilities | 10/49 | €88,993 | €70,465 | -€18,527 | -20.8% |
| Equity | 10/15 | -€46,359 | -€42,316 | +€4,043 | +8.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,359 | -€67,316 | +€4,043 | +5.7% |
| Amounts payable | 17/49 | €135,352 | €112,782 | -€22,570 | -16.7% |
| Amounts payable after more than one year | 17 | €48,256 | €25,487 | -€22,769 | -47.2% |
| Financial debts | 170/4 | €48,256 | €25,487 | -€22,769 | -47.2% |
| Amounts payable within one year | 42/48 | €87,077 | €87,294 | +€217 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €29,087 | €21,887 | -€7,200 | -24.8% |
| Financial debts | 43 | €8,485 | €10,660 | +€2,175 | +25.6% |
| Other loans | 439 | €8,485 | €10,660 | +€2,175 | +25.6% |
| Trade debts | 44 | €26,412 | €26,913 | +€501 | +1.9% |
| Suppliers | 440/4 | €26,412 | €26,913 | +€501 | +1.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,810 | €814 | -€996 | -55.0% |
| Taxes | 450/3 | €1,810 | €814 | -€996 | -55.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,283 | €27,021 | +€5,738 | +27.0% |
| Accrued charges and deferred income | 492/3 | €19 | €0 | -€19 | -100% |
| Remuneration, social security and pensions | 62 | €358 | €0 | -€358 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,581 | €19,331 | -€251 | -1.3% |
| Other operating charges | 640/8 | €3,457 | €3,252 | -€205 | -5.9% |
| Gross operating margin | 9900 | €33,632 | €30,159 | -€3,473 | -10.3% |
| Operating profit (loss) | 9901 | €10,235 | €7,576 | -€2,659 | -26.0% |
| Financial income | 75/76B | €127 | €22 | -€105 | -82.9% |
| Recurring financial income | 75 | €127 | €22 | -€105 | -82.9% |
| Financial charges | 65/66B | €4,126 | €3,555 | -€571 | -13.8% |
| Recurring financial charges | 65 | €4,126 | €3,555 | -€571 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €6,236 | €4,043 | -€2,193 | -35.2% |
| Profit (loss) for the period | 9904 | €6,236 | €4,043 | -€2,193 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,236 | €4,043 | -€2,193 | -35.2% |
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.