GEORGES BLOEM: 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.
GEORGES BLOEM
Largest movements
- Current investments -€100,000
down €100,000 (-66.7%), from €150,000 to €50,000
- Cash +€95,142
up €95,142 (+92.9%), from €102,366 to €197,507
mainly Current investments (+€100,000) and Receivables within one year (+€89,650)
- Receivables within one year -€89,650
down €89,650 (-68.0%), from €131,934 to €42,284
of which Other amounts receivable: -€105,066
- Tangible fixed assets -€21,611
down €21,611 (-27.7%), from €77,923 to €56,312
of which Furniture and vehicles: -€20,761
- Reserves -€51,590
down €51,590 (-16.9%), from €304,899 to €253,309
- Other debts -€34,396
down €34,396 (-38.0%), from €90,633 to €56,237
- Tax, wage and social debts -€28,943
down €28,943 (-31.4%), from €92,033 to €63,090
- Financial income -€72,277
down €72,277 (-97.7%), from €74,006 to €1,729
- Gross operating margin +€32,291
up €32,291 (+32.0%), from €100,863 to €133,155
- Taxes +€7,770
up €7,770 (+35.2%), from €22,092 to €29,862
- Other operating charges +€1,356
up €1,356 (+122%), from €1,107 to €2,463
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 | €489,899 | €374,803 | -€115,096 | -23.5% |
| Fixed assets | 21/28 | €104,260 | €82,650 | -€21,611 | -20.7% |
| Tangible fixed assets | 22/27 | €77,923 | €56,312 | -€21,611 | -27.7% |
| Furniture and vehicles | 24 | €72,692 | €51,931 | -€20,761 | -28.6% |
| Other tangible fixed assets | 26 | €5,231 | €4,381 | -€850 | -16.2% |
| Financial fixed assets | 28 | €26,337 | €26,337 | = | 0.0% |
| Current assets | 29/58 | €385,639 | €292,154 | -€93,485 | -24.2% |
| Amounts receivable within one year | 40/41 | €131,934 | €42,284 | -€89,650 | -68.0% |
| Trade receivables | 40 | €23,268 | €38,684 | +€15,416 | +66.3% |
| Other amounts receivable | 41 | €108,666 | €3,600 | -€105,066 | -96.7% |
| Current investments | 50/53 | €150,000 | €50,000 | -€100,000 | -66.7% |
| Cash at bank and in hand | 54/58 | €102,366 | €197,507 | +€95,142 | +92.9% |
| Deferred charges and accrued income | 490/1 | €1,339 | €2,362 | +€1,023 | +76.4% |
| Total equity and liabilities | 10/49 | €489,899 | €374,803 | -€115,096 | -23.5% |
| Equity | 10/15 | €306,199 | €254,609 | -€51,590 | -16.8% |
| Contributions | 10/11 | €1,300 | €1,300 | = | 0.0% |
| Reserves | 13 | €304,899 | €253,309 | -€51,590 | -16.9% |
| Distributable reserves | 133 | €304,899 | €253,309 | -€51,590 | -16.9% |
| Amounts payable | 17/49 | €183,700 | €120,194 | -€63,506 | -34.6% |
| Amounts payable within one year | 42/48 | €183,700 | €120,194 | -€63,506 | -34.6% |
| Trade debts | 44 | €1,035 | €868 | -€167 | -16.1% |
| Suppliers | 440/4 | €1,035 | €868 | -€167 | -16.1% |
| Taxes, remuneration and social security | 45 | €92,033 | €63,090 | -€28,943 | -31.4% |
| Taxes | 450/3 | €92,033 | €63,090 | -€28,943 | -31.4% |
| Other amounts payable | 47/48 | €90,633 | €56,237 | -€34,396 | -38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,611 | €21,611 | = | 0.0% |
| Other operating charges | 640/8 | €1,107 | €2,463 | +€1,356 | +122% |
| Gross operating margin | 9900 | €100,863 | €133,155 | +€32,291 | +32.0% |
| Operating profit (loss) | 9901 | €78,146 | €109,081 | +€30,936 | +39.6% |
| Financial income | 75/76B | €74,006 | €1,729 | -€72,277 | -97.7% |
| Recurring financial income | 75 | €74,006 | €1,729 | -€72,277 | -97.7% |
| Financial charges | 65/66B | €585 | €610 | +€25 | +4.3% |
| Recurring financial charges | 65 | €585 | €610 | +€25 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €151,567 | €110,200 | -€41,367 | -27.3% |
| Income taxes | 67/77 | €22,092 | €29,862 | +€7,770 | +35.2% |
| Profit (loss) for the period | 9904 | €129,475 | €80,338 | -€49,137 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €129,475 | €80,338 | -€49,137 | -38.0% |
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 27 October 2026 via checked.be.