GER: what changed
Two fiscal 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.
GER
Largest movements
- Receivables within one year -€688,238
down €688,238 (-58.9%), from €1.2m to €480,853
of which Other amounts receivable: -€702,800
- Tangible fixed assets -€232,012
down €232,012 (-3.4%), from €6.8m to €6.5m
- Reserves -€571,218
down €571,218 (-23.6%), from €2.4m to €1.8m
of which Tax-exempt reserves: -€571,218
- Profit (loss) carried forward +€466,749
up €466,749 (+1320.2%), from €35,354 to €502,103
- Other debts -€459,520
down €459,520 (-84.3%), from €545,233 to €85,713
- Debts after one year -€433,336
down €433,336 (-12.6%), from €3.4m to €3.0m
- Provisions -€190,406
down €190,406 (-23.9%), from €797,490 to €607,084
- Gross operating margin -€1.1m
down €1.1m (-82.7%), from €1.3m to €232,531
- Other operating charges -€170,991
down €170,991 (-80.1%), from €213,498 to €42,508
- Taxes +€145,710
up €145,710 (+100130.4%), from €146 to €145,855
- Financial charges -€23,011
down €23,011 (-15.9%), from €144,583 to €121,572
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.
Cash bridge derived
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 | €7,954,492 | €7,033,995 | -€920,497 | -11.6% |
| Fixed assets | 21/28 | €6,776,468 | €6,544,259 | -€232,209 | -3.4% |
| Intangible fixed assets | 21 | €197 | €0 | -€197 | -100.0% |
| Tangible fixed assets | 22/27 | €6,776,272 | €6,544,259 | -€232,012 | -3.4% |
| Land and buildings | 22 | €6,776,272 | €6,544,259 | -€232,012 | -3.4% |
| Current assets | 29/58 | €1,178,024 | €489,735 | -€688,289 | -58.4% |
| Amounts receivable within one year | 40/41 | €1,169,091 | €480,853 | -€688,238 | -58.9% |
| Trade receivables | 40 | €13,182 | €27,744 | +€14,562 | +110.5% |
| Other amounts receivable | 41 | €1,155,909 | €453,109 | -€702,800 | -60.8% |
| Cash at bank and in hand | 54/58 | €605 | €762 | +€157 | +26.0% |
| Deferred charges and accrued income | 490/1 | €8,328 | €8,120 | -€208 | -2.5% |
| Total equity and liabilities | 10/49 | €7,954,492 | €7,033,995 | -€920,497 | -11.6% |
| Equity | 10/15 | €2,724,240 | €2,619,772 | -€104,468 | -3.8% |
| Contributions | 10/11 | €269,469 | €269,469 | = | 0.0% |
| Reserves | 13 | €2,419,417 | €1,848,199 | -€571,218 | -23.6% |
| Tax-exempt reserves | 132 | €2,392,470 | €1,821,252 | -€571,218 | -23.9% |
| Distributable reserves | 133 | €26,947 | €26,947 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,354 | €502,103 | +€466,749 | +1320.2% |
| Provisions and deferred taxes | 16 | €797,490 | €607,084 | -€190,406 | -23.9% |
| Deferred taxes | 168 | €797,490 | €607,084 | -€190,406 | -23.9% |
| Amounts payable | 17/49 | €4,432,762 | €3,807,139 | -€625,623 | -14.1% |
| Amounts payable after more than one year | 17 | €3,444,190 | €3,010,854 | -€433,336 | -12.6% |
| Financial debts | 170/4 | €3,444,190 | €3,010,854 | -€433,336 | -12.6% |
| Amounts payable within one year | 42/48 | €988,572 | €796,285 | -€192,287 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €177,182 | €184,051 | +€6,869 | +3.9% |
| Financial debts | 43 | €257,459 | €352,073 | +€94,614 | +36.7% |
| Credit institutions | 430/8 | €257,459 | €352,073 | +€94,614 | +36.7% |
| Trade debts | 44 | €8,583 | €27,228 | +€18,645 | +217.2% |
| Suppliers | 440/4 | €8,583 | €27,228 | +€18,645 | +217.2% |
| Taxes, remuneration and social security | 45 | €115 | €147,220 | +€147,105 | +128218.8% |
| Taxes | 450/3 | €115 | €147,220 | +€147,105 | +128218.8% |
| Other amounts payable | 47/48 | €545,233 | €85,713 | -€459,520 | -84.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,226 | €232,209 | -€17 | 0.0% |
| Other operating charges | 640/8 | €213,498 | €42,508 | -€170,991 | -80.1% |
| Gross operating margin | 9900 | €1,341,240 | €232,531 | -€1.1m | -82.7% |
| Operating profit (loss) | 9901 | €895,516 | -€42,185 | -€937,701 | |
| Financial income | 75/76B | €17,909 | €14,738 | -€3,171 | -17.7% |
| Recurring financial income | 75 | €17,909 | €14,738 | -€3,171 | -17.7% |
| Financial charges | 65/66B | €144,583 | €121,572 | -€23,011 | -15.9% |
| Recurring financial charges | 65 | €144,583 | €121,572 | -€23,011 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €768,843 | -€149,019 | -€917,862 | |
| Transfer from deferred taxes | 780 | €12,219 | €190,406 | +€178,187 | +1458.2% |
| Transfer to deferred taxes | 680 | €256,188 | €0 | -€256,188 | -100.0% |
| Income taxes | 67/77 | €146 | €145,855 | +€145,710 | +100130.4% |
| Profit (loss) for the period | 9904 | €524,729 | -€104,468 | -€629,197 | |
| Transfer from tax-exempt reserves | 789 | €38,047 | €571,218 | +€533,171 | +1401.4% |
| Transfer to tax-exempt reserves | 689 | €768,563 | €0 | -€768,563 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€205,787 | €466,749 | +€672,537 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.