GEOVEX: 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.
GEOVEX
Largest movements
- Tangible fixed assets +€50,565
up €50,565 (+100%), from €50,318 to €100,883
of which Furniture and vehicles: +€55,816
- Intangible fixed assets -€15,000
down €15,000 (-23.1%), from €65,000 to €50,000
- Cash +€9,333
up €9,333 (+11.5%), from €81,346 to €90,679
mainly Net result for the year (+€56,457) and Debts after one year (+€37,066)
- Receivables within one year +€3,172
up €3,172 (+48.0%), from €6,604 to €9,776
of which Other amounts receivable: +€4,464
- Debts after one year +€37,066
up €37,066 (+195%), from €18,974 to €56,040
- Trade debts -€12,681
down €12,681 (-99.3%), from €12,772 to €90
- Current portion of long-term debt +€12,436
up €12,436 (+219%), from €5,683 to €18,119
- Profit (loss) carried forward +€6,457
up €6,457 (+4.4%), from €146,663 to €153,120
- Tax, wage and social debts +€2,734
up €2,734 (+18.4%), from €14,858 to €17,592
- Gross operating margin +€22,950
up €22,950 (+26.1%), from €87,780 to €110,730
- Depreciation +€12,892
up €12,892 (+59.5%), from €21,653 to €34,545
- Financial charges +€2,199
up €2,199 (+256%), from €857 to €3,056
- Taxes +€1,685
up €1,685 (+12.2%), from €13,851 to €15,536
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 | €204,194 | €252,608 | +€48,414 | +23.7% |
| Fixed assets | 21/28 | €115,318 | €150,883 | +€35,565 | +30.8% |
| Intangible fixed assets | 21 | €65,000 | €50,000 | -€15,000 | -23.1% |
| Tangible fixed assets | 22/27 | €50,318 | €100,883 | +€50,565 | +100% |
| Plant, machinery and equipment | 23 | €1,654 | €1,278 | -€377 | -22.8% |
| Furniture and vehicles | 24 | €6,587 | €62,403 | +€55,816 | +847% |
| Other tangible fixed assets | 26 | €42,077 | €37,202 | -€4,875 | -11.6% |
| Current assets | 29/58 | €88,876 | €101,725 | +€12,849 | +14.5% |
| Amounts receivable within one year | 40/41 | €6,604 | €9,776 | +€3,172 | +48.0% |
| Trade receivables | 40 | €6,604 | €5,313 | -€1,291 | -19.6% |
| Other amounts receivable | 41 | - | €4,464 | +€4,464 | |
| Cash at bank and in hand | 54/58 | €81,346 | €90,679 | +€9,333 | +11.5% |
| Deferred charges and accrued income | 490/1 | €926 | €1,269 | +€344 | +37.1% |
| Total equity and liabilities | 10/49 | €204,194 | €252,608 | +€48,414 | +23.7% |
| Equity | 10/15 | €149,663 | €156,120 | +€6,457 | +4.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,663 | €153,120 | +€6,457 | +4.4% |
| Amounts payable | 17/49 | €54,531 | €96,487 | +€41,957 | +76.9% |
| Amounts payable after more than one year | 17 | €18,974 | €56,040 | +€37,066 | +195% |
| Financial debts | 170/4 | €18,974 | €56,040 | +€37,066 | +195% |
| Amounts payable within one year | 42/48 | €35,556 | €40,447 | +€4,891 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €5,683 | €18,119 | +€12,436 | +219% |
| Trade debts | 44 | €12,772 | €90 | -€12,681 | -99.3% |
| Suppliers | 440/4 | €12,772 | €90 | -€12,681 | -99.3% |
| Taxes, remuneration and social security | 45 | €14,858 | €17,592 | +€2,734 | +18.4% |
| Taxes | 450/3 | €14,858 | €17,592 | +€2,734 | +18.4% |
| Other amounts payable | 47/48 | €2,244 | €4,647 | +€2,403 | +107% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,653 | €34,545 | +€12,892 | +59.5% |
| Other operating charges | 640/8 | €500 | €1,491 | +€990 | +198% |
| Gross operating margin | 9900 | €87,780 | €110,730 | +€22,950 | +26.1% |
| Operating profit (loss) | 9901 | €65,627 | €74,695 | +€9,067 | +13.8% |
| Financial income | 75/76B | €0 | €355 | +€355 | +107,476% |
| Recurring financial income | 75 | €0 | €355 | +€355 | +107,476% |
| Financial charges | 65/66B | €857 | €3,056 | +€2,199 | +256% |
| Recurring financial charges | 65 | €857 | €3,056 | +€2,199 | +256% |
| Profit (loss) for the period before taxes | 9903 | €64,770 | €71,993 | +€7,223 | +11.2% |
| Income taxes | 67/77 | €13,851 | €15,536 | +€1,685 | +12.2% |
| Profit (loss) for the period | 9904 | €50,919 | €56,457 | +€5,538 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,919 | €56,457 | +€5,538 | +10.9% |
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 18 October 2026 via checked.be.