GEOS: 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.
GEOS
Largest movements
- Cash -€237,142
down €237,142 (-59.3%), from €399,695 to €162,553
mainly Investment in fixed assets (net) (-€230,516) and Current investments (-€157,843)
- Current investments +€157,843
new in 2025: €157,843
- Tangible fixed assets +€145,149
up €145,149 (+7.3%), from €2.0m to €2.1m
of which Land and buildings: +€144,964
- Reserves +€225,000
up €225,000 (+11,924%), from €1,887 to €226,887
of which Distributable reserves: +€225,000
- Trade debts -€119,675
down €119,675 (-33.4%), from €358,467 to €238,792
- Short-term financial debts -€72,320
down €72,320 (-85.5%), from €84,535 to €12,215
of which Credit institutions: -€67,479
- Gross operating margin +€238,659
up €238,659 (+115%), from €208,193 to €446,852
- Taxes +€37,012
up €37,012 (+153%), from €24,119 to €61,131
- Financial charges +€24,845
up €24,845 (+131%), from €18,947 to €43,792
- Depreciation +€21,865
up €21,865 (+26.8%), from €81,666 to €103,531
- Staff costs -€9,184
no longer reported in 2025 (was €9,184)
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 | €2,396,257 | €2,444,073 | +€47,816 | +2.0% |
| Fixed assets | 21/28 | €1,996,562 | €2,123,547 | +€126,985 | +6.4% |
| Tangible fixed assets | 22/27 | €1,978,321 | €2,123,470 | +€145,149 | +7.3% |
| Land and buildings | 22 | €1,953,214 | €2,098,178 | +€144,964 | +7.4% |
| Plant, machinery and equipment | 23 | €16,914 | €11,794 | -€5,120 | -30.3% |
| Furniture and vehicles | 24 | €8,193 | €7,455 | -€738 | -9.0% |
| Other tangible fixed assets | 26 | - | €6,043 | +€6,043 | |
| Financial fixed assets | 28 | €18,241 | €77 | -€18,164 | -99.6% |
| Current assets | 29/58 | €399,695 | €320,526 | -€79,169 | -19.8% |
| Amounts receivable within one year | 40/41 | - | €130 | +€130 | |
| Other amounts receivable | 41 | - | €130 | +€130 | |
| Current investments | 50/53 | - | €157,843 | +€157,843 | |
| Cash at bank and in hand | 54/58 | €399,695 | €162,553 | -€237,142 | -59.3% |
| Total equity and liabilities | 10/49 | €2,396,257 | €2,444,073 | +€47,816 | +2.0% |
| Equity | 10/15 | €534,741 | €761,400 | +€226,659 | +42.4% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Capital | 10 | - | €6,205 | +€6,205 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €12,395 | +€12,395 | |
| Reserves | 13 | €1,887 | €226,887 | +€225,000 | +11,924% |
| Non-distributable reserves | 130/1 | €1,887 | €1,887 | = | 0.0% |
| Legal reserve | 130 | - | €1,887 | +€1,887 | |
| Reserves not available under the articles | 1311 | €1,887 | - | -€1,887 | |
| Distributable reserves | 133 | - | €225,000 | +€225,000 | |
| Profit (loss) carried forward | 14 | €526,649 | €528,308 | +€1,659 | +0.3% |
| Amounts payable | 17/49 | €1,861,516 | €1,682,674 | -€178,842 | -9.6% |
| Amounts payable after more than one year | 17 | €1,406,237 | €1,396,703 | -€9,534 | -0.7% |
| Financial debts | 170/4 | €1,406,237 | €1,063,005 | -€343,232 | -24.4% |
| Other amounts payable | 178/9 | - | €333,698 | +€333,698 | |
| Amounts payable within one year | 42/48 | €455,279 | €285,970 | -€169,309 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | - | €2,184 | +€2,184 | |
| Financial debts | 43 | €84,535 | €12,215 | -€72,320 | -85.5% |
| Credit institutions | 430/8 | €79,694 | €12,215 | -€67,479 | -84.7% |
| Other loans | 439 | €4,841 | - | -€4,841 | |
| Trade debts | 44 | €358,467 | €238,792 | -€119,675 | -33.4% |
| Suppliers | 440/4 | €358,467 | €238,792 | -€119,675 | -33.4% |
| Advances received on contracts in progress | 46 | - | €5,441 | +€5,441 | |
| Taxes, remuneration and social security | 45 | €12,277 | €27,338 | +€15,061 | +123% |
| Taxes | 450/3 | €12,277 | €27,338 | +€15,061 | +123% |
| Non-recurring operating income | 76A | - | €152,600 | +€152,600 | |
| Remuneration, social security and pensions | 62 | €9,184 | - | -€9,184 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,666 | €103,531 | +€21,865 | +26.8% |
| Other operating charges | 640/8 | €5,625 | €12,795 | +€7,170 | +127% |
| Gross operating margin | 9900 | €208,193 | €446,852 | +€238,659 | +115% |
| Operating profit (loss) | 9901 | €111,718 | €330,525 | +€218,807 | +196% |
| Financial income | 75/76B | - | €1,056 | +€1,056 | |
| Recurring financial income | 75 | - | €1,056 | +€1,056 | |
| Financial charges | 65/66B | €18,947 | €43,792 | +€24,845 | +131% |
| Recurring financial charges | 65 | €18,947 | €25,627 | +€6,680 | +35.3% |
| Non-recurring financial charges | 66B | €18,947 | €18,164 | -€783 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €92,771 | €287,790 | +€195,019 | +210% |
| Income taxes | 67/77 | €24,119 | €61,131 | +€37,012 | +153% |
| Profit (loss) for the period | 9904 | €68,652 | €226,659 | +€158,007 | +230% |
| Profit (loss) for the period to be appropriated | 9905 | €68,652 | €226,659 | +€158,007 | +230% |
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 26 October 2026 via checked.be.