GERALDINE BOURGUIGNON: 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.
GERALDINE BOURGUIGNON
Largest movements
- Receivables within one year +€84,131
up €84,131 (+57.3%), from €146,915 to €231,046
of which Other amounts receivable: +€68,226
- Cash -€12,981
down €12,981 (-93.1%), from €13,939 to €959
mainly Receivables within one year (-€84,131) and Trade debts (-€489)
- Profit (loss) carried forward +€53,594
up €53,594 (+265.6%), from €20,177 to €73,771
- Tax, wage and social debts +€17,117
up €17,117 (+157.0%), from €10,905 to €28,022
- Taxes +€17,441
up €17,441 (+9964.5%), from €175 to €17,616
- Gross operating margin +€11,810
up €11,810 (+19.2%), from €61,568 to €73,379
- Depreciation -€823
down €823 (-38.1%), from €2,161 to €1,338
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 | €179,089 | €248,923 | +€69,835 | +39.0% |
| Fixed assets | 21/28 | €18,058 | €16,720 | -€1,338 | -7.4% |
| Tangible fixed assets | 22/27 | €18,058 | €16,720 | -€1,338 | -7.4% |
| Furniture and vehicles | 24 | €4,271 | €2,933 | -€1,338 | -31.3% |
| Other tangible fixed assets | 26 | €13,787 | €13,787 | = | 0.0% |
| Current assets | 29/58 | €161,031 | €232,203 | +€71,173 | +44.2% |
| Amounts receivable within one year | 40/41 | €146,915 | €231,046 | +€84,131 | +57.3% |
| Trade receivables | 40 | €22,453 | €38,358 | +€15,905 | +70.8% |
| Other amounts receivable | 41 | €124,462 | €192,688 | +€68,226 | +54.8% |
| Cash at bank and in hand | 54/58 | €13,939 | €959 | -€12,981 | -93.1% |
| Deferred charges and accrued income | 490/1 | €176 | €199 | +€22 | +12.7% |
| Total equity and liabilities | 10/49 | €179,089 | €248,923 | +€69,835 | +39.0% |
| Equity | 10/15 | €166,380 | €219,973 | +€53,594 | +32.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €133,802 | €133,802 | = | 0.0% |
| Distributable reserves | 133 | €133,802 | €133,802 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,177 | €73,771 | +€53,594 | +265.6% |
| Amounts payable | 17/49 | €12,709 | €28,950 | +€16,241 | +127.8% |
| Amounts payable within one year | 42/48 | €12,322 | €28,950 | +€16,628 | +135.0% |
| Trade debts | 44 | €1,416 | €928 | -€489 | -34.5% |
| Suppliers | 440/4 | €1,416 | €928 | -€489 | -34.5% |
| Taxes, remuneration and social security | 45 | €10,905 | €28,022 | +€17,117 | +157.0% |
| Taxes | 450/3 | €10,905 | €28,022 | +€17,117 | +157.0% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,161 | €1,338 | -€823 | -38.1% |
| Other operating charges | 640/8 | €669 | €692 | +€23 | +3.5% |
| Gross operating margin | 9900 | €61,568 | €73,379 | +€11,810 | +19.2% |
| Operating profit (loss) | 9901 | €58,738 | €71,348 | +€12,610 | +21.5% |
| Financial income | 75/76B | €2 | €0 | -€2 | -88.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -88.0% |
| Financial charges | 65/66B | €183 | €139 | -€44 | -24.1% |
| Recurring financial charges | 65 | €183 | €139 | -€44 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €58,557 | €71,210 | +€12,652 | +21.6% |
| Income taxes | 67/77 | €175 | €17,616 | +€17,441 | +9964.5% |
| Profit (loss) for the period | 9904 | €58,382 | €53,594 | -€4,789 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,382 | €53,594 | -€4,789 | -8.2% |
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 10 October 2026 via checked.be.