GEORGES IV: 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 IV
Largest movements
- Cash +€28,591
up €28,591 (+41.8%), from €68,325 to €96,915
mainly Net result for the year (+€30,337) and Accrued charges and deferred income (+€9,535)
- Receivables within one year +€9,768
up €9,768 (+14.7%), from €66,513 to €76,281
of which Other amounts receivable: +€15,010
- Reserves +€30,337
up €30,337 (+88.3%), from €34,339 to €64,677
of which Distributable reserves: +€30,337
- Accrued charges and deferred income +€9,535
up €9,535 (+113%), from €8,433 to €17,969
- Tax, wage and social debts +€6,170
up €6,170 (+36.5%), from €16,886 to €23,056
of which Remuneration and social security: +€6,066
- Trade debts -€5,798
down €5,798 (-45.9%), from €12,641 to €6,843
- Gross operating margin +€36,325
up €36,325 (+43.1%), from €84,247 to €120,571
- Staff costs +€25,728
up €25,728 (+49.4%), from €52,088 to €77,816
- Taxes +€7,923
up €7,923 (+268%), from €2,953 to €10,876
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 | €140,155 | €179,418 | +€39,263 | +28.0% |
| Current assets | 29/58 | €140,155 | €179,418 | +€39,263 | +28.0% |
| Stocks and contracts in progress | 3 | €3,297 | €3,394 | +€98 | +3.0% |
| Stocks | 30/36 | €3,297 | €3,394 | +€98 | +3.0% |
| Amounts receivable within one year | 40/41 | €66,513 | €76,281 | +€9,768 | +14.7% |
| Trade receivables | 40 | €19,679 | €14,437 | -€5,242 | -26.6% |
| Other amounts receivable | 41 | €46,835 | €61,845 | +€15,010 | +32.0% |
| Cash at bank and in hand | 54/58 | €68,325 | €96,915 | +€28,591 | +41.8% |
| Deferred charges and accrued income | 490/1 | €2,020 | €2,827 | +€807 | +39.9% |
| Total equity and liabilities | 10/49 | €140,155 | €179,418 | +€39,263 | +28.0% |
| Equity | 10/15 | €101,214 | €130,599 | +€29,385 | +29.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €34,339 | €64,677 | +€30,337 | +88.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €28,189 | €58,527 | +€30,337 | +108% |
| Profit (loss) carried forward | 14 | €5,374 | €4,422 | -€952 | -17.7% |
| Amounts payable | 17/49 | €38,941 | €48,819 | +€9,878 | +25.4% |
| Amounts payable within one year | 42/48 | €30,508 | €30,851 | +€343 | +1.1% |
| Trade debts | 44 | €12,641 | €6,843 | -€5,798 | -45.9% |
| Suppliers | 440/4 | €12,641 | €6,843 | -€5,798 | -45.9% |
| Taxes, remuneration and social security | 45 | €16,886 | €23,056 | +€6,170 | +36.5% |
| Taxes | 450/3 | €7,415 | €7,519 | +€104 | +1.4% |
| Remuneration and social security | 454/9 | €9,471 | €15,537 | +€6,066 | +64.0% |
| Other amounts payable | 47/48 | €982 | €952 | -€30 | -3.0% |
| Accrued charges and deferred income | 492/3 | €8,433 | €17,969 | +€9,535 | +113% |
| Remuneration, social security and pensions | 62 | €52,088 | €77,816 | +€25,728 | +49.4% |
| Other operating charges | 640/8 | €3,396 | €3,483 | +€88 | +2.6% |
| Gross operating margin | 9900 | €84,247 | €120,571 | +€36,325 | +43.1% |
| Operating profit (loss) | 9901 | €28,764 | €39,273 | +€10,509 | +36.5% |
| Financial income | 75/76B | €2,655 | €3,030 | +€374 | +14.1% |
| Recurring financial income | 75 | €2,655 | €3,030 | +€374 | +14.1% |
| Financial charges | 65/66B | €276 | €1,089 | +€812 | +294% |
| Recurring financial charges | 65 | €276 | €1,089 | +€812 | +294% |
| Profit (loss) for the period before taxes | 9903 | €31,142 | €41,214 | +€10,071 | +32.3% |
| Income taxes | 67/77 | €2,953 | €10,876 | +€7,923 | +268% |
| Profit (loss) for the period | 9904 | €28,189 | €30,337 | +€2,148 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,189 | €30,337 | +€2,148 | +7.6% |
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 21 October 2026 via checked.be.