GERALD BASSEM: 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.
GERALD BASSEM
Largest movements
- Receivables within one year -€52,533
down €52,533 (-35.3%), from €148,816 to €96,284
of which Trade receivables: -€63,090
- Cash +€36,479
up €36,479 (+35.2%), from €103,723 to €140,201
mainly Receivables within one year (+€52,533) and Trade debts (+€36,864)
- Deferred charges and accrued income +€21,858
up €21,858 (+4,030%), from €542 to €22,400
- Trade debts +€36,864
up €36,864 (+187%), from €19,743 to €56,607
- Reserves -€18,646
down €18,646 (-12.9%), from €144,035 to €125,388
of which Distributable reserves: -€18,646
- Tax, wage and social debts -€15,047
down €15,047 (-81.6%), from €18,449 to €3,402
- Other debts +€6,634
up €6,634 (+11.4%), from €58,205 to €64,839
- Gross operating margin -€42,311
down €42,311, from €26,116 to -€16,195
- Financial charges +€4,242
up €4,242 (+1,319%), from €322 to €4,563
- Financial income +€2,225
new in 2025: €2,225
- Taxes -€2,120
down €2,120 (-100%), from €2,120 to €0
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 | €256,972 | €264,361 | +€7,389 | +2.9% |
| Fixed assets | 21/28 | €3,890 | €5,476 | +€1,586 | +40.8% |
| Tangible fixed assets | 22/27 | €3,890 | €5,476 | +€1,586 | +40.8% |
| Land and buildings | 22 | €1,358 | €813 | -€545 | -40.1% |
| Plant, machinery and equipment | 23 | - | €1,074 | +€1,074 | |
| Furniture and vehicles | 24 | €2,533 | €3,589 | +€1,056 | +41.7% |
| Current assets | 29/58 | €253,082 | €258,885 | +€5,804 | +2.3% |
| Amounts receivable within one year | 40/41 | €148,816 | €96,284 | -€52,533 | -35.3% |
| Trade receivables | 40 | €111,980 | €48,890 | -€63,090 | -56.3% |
| Other amounts receivable | 41 | €36,836 | €47,394 | +€10,558 | +28.7% |
| Cash at bank and in hand | 54/58 | €103,723 | €140,201 | +€36,479 | +35.2% |
| Deferred charges and accrued income | 490/1 | €542 | €22,400 | +€21,858 | +4,030% |
| Total equity and liabilities | 10/49 | €256,972 | €264,361 | +€7,389 | +2.9% |
| Equity | 10/15 | €160,574 | €139,512 | -€21,062 | -13.1% |
| Contributions | 10/11 | €19,250 | €19,250 | = | 0.0% |
| Reserves | 13 | €144,035 | €125,388 | -€18,646 | -12.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €144,035 | €125,388 | -€18,646 | -12.9% |
| Profit (loss) carried forward | 14 | -€2,710 | -€5,126 | -€2,416 | -89.1% |
| Amounts payable | 17/49 | €96,397 | €124,849 | +€28,451 | +29.5% |
| Amounts payable within one year | 42/48 | €96,397 | €124,849 | +€28,451 | +29.5% |
| Trade debts | 44 | €19,743 | €56,607 | +€36,864 | +187% |
| Suppliers | 440/4 | €19,743 | €56,607 | +€36,864 | +187% |
| Taxes, remuneration and social security | 45 | €18,449 | €3,402 | -€15,047 | -81.6% |
| Taxes | 450/3 | €18,449 | €3,402 | -€15,047 | -81.6% |
| Other amounts payable | 47/48 | €58,205 | €64,839 | +€6,634 | +11.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,957 | €2,001 | +€44 | +2.2% |
| Other operating charges | 640/8 | €515 | €527 | +€12 | +2.4% |
| Gross operating margin | 9900 | €26,116 | -€16,195 | -€42,311 | |
| Operating profit (loss) | 9901 | €23,643 | -€18,724 | -€42,367 | |
| Financial income | 75/76B | - | €2,225 | +€2,225 | |
| Recurring financial income | 75 | - | €2,225 | +€2,225 | |
| Financial charges | 65/66B | €322 | €4,563 | +€4,242 | +1,319% |
| Recurring financial charges | 65 | €322 | €4,563 | +€4,242 | +1,319% |
| Profit (loss) for the period before taxes | 9903 | €23,322 | -€21,062 | -€44,384 | |
| Income taxes | 67/77 | €2,120 | €0 | -€2,120 | -100% |
| Profit (loss) for the period | 9904 | €21,202 | -€21,062 | -€42,264 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,202 | -€21,062 | -€42,264 |
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 19 October 2026 via checked.be.