GEOTEL: 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.
GEOTEL
Largest movements
- Tangible fixed assets -€201,415
down €201,415 (-4.0%), from €5.0m to €4.8m
of which Land and buildings: -€186,362
- Cash +€191,265
up €191,265 (+849%), from €22,532 to €213,796
mainly Net result for the year (+€211,485) and Depreciation (+€206,623)
- Receivables within one year +€136,051
up €136,051 (+26.7%), from €509,401 to €645,452
of which Trade receivables: +€98,168
- Other debts +€150,000
new in 2025: €150,000
- Profit (loss) carried forward +€97,979
up €97,979 (+9.4%), from €1.0m to €1.1m
- Short-term financial debts -€75,000
no longer reported in 2025 (was €75,000)
- Gross operating margin +€172,762
up €172,762 (+45.2%), from €382,455 to €555,217
- Taxes +€17,083
up €17,083 (+22.5%), from €76,087 to €93,170
- Depreciation -€16,021
down €16,021 (-7.2%), from €222,644 to €206,623
- Financial charges -€8,153
down €8,153 (-82.4%), from €9,893 to €1,740
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 | €6,111,612 | €6,242,574 | +€130,962 | +2.1% |
| Fixed assets | 21/28 | €5,506,367 | €5,296,934 | -€209,433 | -3.8% |
| Tangible fixed assets | 22/27 | €4,977,875 | €4,776,460 | -€201,415 | -4.0% |
| Land and buildings | 22 | €4,949,390 | €4,763,028 | -€186,362 | -3.8% |
| Plant, machinery and equipment | 23 | €28,485 | €13,432 | -€15,053 | -52.8% |
| Financial fixed assets | 28 | €528,492 | €520,474 | -€8,018 | -1.5% |
| Current assets | 29/58 | €605,245 | €945,640 | +€340,395 | +56.2% |
| Amounts receivable within one year | 40/41 | €509,401 | €645,452 | +€136,051 | +26.7% |
| Trade receivables | 40 | €951 | €99,119 | +€98,168 | +10,325% |
| Other amounts receivable | 41 | €508,450 | €546,333 | +€37,883 | +7.5% |
| Current investments | 50/53 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €22,532 | €213,796 | +€191,265 | +849% |
| Deferred charges and accrued income | 490/1 | €73,312 | €86,390 | +€13,078 | +17.8% |
| Total equity and liabilities | 10/49 | €6,111,612 | €6,242,574 | +€130,962 | +2.1% |
| Equity | 10/15 | €5,500,197 | €5,561,682 | +€61,485 | +1.1% |
| Contributions | 10/11 | €1,288,001 | €1,288,001 | = | 0.0% |
| Capital | 10 | €1,288,001 | €1,288,001 | = | 0.0% |
| Issued capital | 100 | €1,288,001 | €1,288,001 | = | 0.0% |
| Reserves | 13 | €3,171,313 | €3,134,819 | -€36,493 | -1.2% |
| Non-distributable reserves | 130/1 | €85,439 | €98,491 | +€13,052 | +15.3% |
| Legal reserve | 130 | €85,439 | €98,491 | +€13,052 | +15.3% |
| Tax-exempt reserves | 132 | €1,176,853 | €1,127,308 | -€49,545 | -4.2% |
| Distributable reserves | 133 | €1,909,021 | €1,909,021 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,040,883 | €1,138,862 | +€97,979 | +9.4% |
| Provisions and deferred taxes | 16 | €392,284 | €375,769 | -€16,515 | -4.2% |
| Deferred taxes | 168 | €392,284 | €375,769 | -€16,515 | -4.2% |
| Amounts payable | 17/49 | €219,131 | €305,122 | +€85,992 | +39.2% |
| Amounts payable after more than one year | 17 | €57,397 | €57,397 | = | 0.0% |
| Other amounts payable | 178/9 | €57,397 | €57,397 | = | 0.0% |
| Amounts payable within one year | 42/48 | €137,493 | €242,726 | +€105,233 | +76.5% |
| Financial debts | 43 | €75,000 | - | -€75,000 | |
| Credit institutions | 430/8 | €75,000 | - | -€75,000 | |
| Trade debts | 44 | €6,932 | €3,734 | -€3,198 | -46.1% |
| Suppliers | 440/4 | €6,932 | €3,734 | -€3,198 | -46.1% |
| Taxes, remuneration and social security | 45 | €55,561 | €88,992 | +€33,431 | +60.2% |
| Taxes | 450/3 | €55,561 | €88,992 | +€33,431 | +60.2% |
| Other amounts payable | 47/48 | - | €150,000 | +€150,000 | |
| Accrued charges and deferred income | 492/3 | €24,241 | €5,000 | -€19,241 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,644 | €206,623 | -€16,021 | -7.2% |
| Other operating charges | 640/8 | €76,313 | €74,153 | -€2,160 | -2.8% |
| Gross operating margin | 9900 | €382,455 | €555,217 | +€172,762 | +45.2% |
| Operating profit (loss) | 9901 | €83,498 | €274,441 | +€190,943 | +229% |
| Financial income | 75/76B | €16,078 | €15,439 | -€639 | -4.0% |
| Recurring financial income | 75 | €16,078 | €15,439 | -€639 | -4.0% |
| Financial charges | 65/66B | €9,893 | €1,740 | -€8,153 | -82.4% |
| Recurring financial charges | 65 | €9,893 | €1,740 | -€8,153 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €89,683 | €288,140 | +€198,457 | +221% |
| Transfer from deferred taxes | 780 | €47,745 | €16,515 | -€31,230 | -65.4% |
| Income taxes | 67/77 | €76,087 | €93,170 | +€17,083 | +22.5% |
| Profit (loss) for the period | 9904 | €61,341 | €211,485 | +€150,144 | +245% |
| Transfer from tax-exempt reserves | 789 | €143,234 | €49,545 | -€93,689 | -65.4% |
| Profit (loss) for the period to be appropriated | 9905 | €204,575 | €261,030 | +€56,455 | +27.6% |
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 20 October 2026 via checked.be.