GEORGI-NELI: what changed
GEORGI-NELI
Largest movements
- Tangible fixed assets -€8,471
down €8,471 (-4.7%), from €180,541 to €172,070
- Cash +€4,830
up €4,830 (+1,696%), from €285 to €5,115
mainly Depreciation (+€8,471) and Accrued charges and deferred income (+€4,207)
- Debts after one year -€11,794
down €11,794 (-61.8%), from €19,079 to €7,285
- Accrued charges and deferred income +€4,207
new in 2025: €4,207
- Other debts +€2,763
up €2,763 (+4.2%), from €65,972 to €68,735
- Other operating charges -€3,725
down €3,725 (-44.4%), from €8,385 to €4,660
- Gross operating margin +€2,003
up €2,003 (+16.0%), from €12,523 to €14,525
- Financial charges -€246
down €246 (-24.6%), from €1,003 to €757
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €182,076 | €178,184 | -€3,892 | -2.1% |
| Fixed assets | 21/28 | €180,541 | €172,070 | -€8,471 | -4.7% |
| Tangible fixed assets | 22/27 | €180,541 | €172,070 | -€8,471 | -4.7% |
| Land and buildings | 22 | €180,541 | €172,070 | -€8,471 | -4.7% |
| Current assets | 29/58 | €1,535 | €6,115 | +€4,580 | +298% |
| Amounts receivable within one year | 40/41 | €1,250 | €1,000 | -€250 | -20.0% |
| Other amounts receivable | 41 | €1,250 | €1,000 | -€250 | -20.0% |
| Cash at bank and in hand | 54/58 | €285 | €5,115 | +€4,830 | +1,696% |
| Total equity and liabilities | 10/49 | €182,076 | €178,184 | -€3,892 | -2.1% |
| Equity | 10/15 | €85,477 | €86,163 | +€685 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €65,017 | €65,703 | +€685 | +1.1% |
| Amounts payable | 17/49 | €96,599 | €92,022 | -€4,577 | -4.7% |
| Amounts payable after more than one year | 17 | €19,079 | €7,285 | -€11,794 | -61.8% |
| Financial debts | 170/4 | €19,079 | €7,285 | -€11,794 | -61.8% |
| Amounts payable within one year | 42/48 | €77,519 | €80,529 | +€3,010 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €11,548 | €11,794 | +€246 | +2.1% |
| Other amounts payable | 47/48 | €65,972 | €68,735 | +€2,763 | +4.2% |
| Accrued charges and deferred income | 492/3 | - | €4,207 | +€4,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,387 | €8,471 | +€85 | +1.0% |
| Other operating charges | 640/8 | €8,385 | €4,660 | -€3,725 | -44.4% |
| Gross operating margin | 9900 | €12,523 | €14,525 | +€2,003 | +16.0% |
| Operating profit (loss) | 9901 | -€4,249 | €1,394 | +€5,643 | |
| Financial income | 75/76B | €0 | €48 | +€48 | +241,800% |
| Recurring financial income | 75 | €0 | €48 | +€48 | +241,800% |
| Financial charges | 65/66B | €1,003 | €757 | -€246 | -24.6% |
| Recurring financial charges | 65 | €1,003 | €757 | -€246 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,252 | €685 | +€5,937 | |
| Profit (loss) for the period | 9904 | -€5,252 | €685 | +€5,937 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,252 | €685 | +€5,937 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.