GERALDINE CORNIL: 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.
What changed
GERALDINE CORNIL
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3,680
2024 · -€25,452+€29,132
Equity
€939,014
2024 · €935,334+€3,680
Cash
€14,906
2024 · €13,837+€1,069
Balance sheet total
€2.1m
2024 · €2.2m-€46,433
Largest movements
Assets
- Tangible fixed assets -€55,602
down €55,602 (-3.2%), from €1.7m to €1.7m
Equity and liabilities
- Debts after one year -€55,306
down €55,306 (-7.4%), from €744,950 to €689,644
Income statement
- Gross operating margin +€1,854
up €1,854 (+2.7%), from €68,405 to €70,259
- Financial charges -€904
down €904 (-6.1%), from €14,857 to €13,953
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.
Result 2024
-€25,452
Gross operating margin
+€1,854
Depreciation
-€139
Other operating charges
-€83
Other operating items
+€10,200
Financial income
+€22
Financial charges
+€904
Taxes
-€1
Deferred taxes and other
+€16,375
Result 2025
€3,680
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.
From operations
+€56,724
Investment
-€1,311
Financing
-€54,344
Cash 2024
€13,837
From operations (derived)
+€56,724
Net result for the year
+€3,680
Depreciation
+€55,602
Receivables within one year
+€304
Deferred charges and accrued income
-€7,093
Provisions
-€4,545
Trade debts
-€382
Tax, wage and social debts
-€1,161
Other debts
+€10,320
Investment (derived)
-€1,311
Current investments
-€1,311
Financing
-€54,344
Debts after one year
-€55,306
Current portion of long-term debt
+€962
Cash 2025
€14,906
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,177,271 | €2,130,838 | -€46,433 | -2.1% |
| Fixed assets | 21/28 | €1,735,231 | €1,679,630 | -€55,602 | -3.2% |
| Tangible fixed assets | 22/27 | €1,735,231 | €1,679,630 | -€55,602 | -3.2% |
| Land and buildings | 22 | €1,735,231 | €1,679,630 | -€55,602 | -3.2% |
| Current assets | 29/58 | €442,040 | €451,208 | +€9,169 | +2.1% |
| Amounts receivable within one year | 40/41 | €919 | €615 | -€304 | -33.1% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €919 | €615 | -€304 | -33.1% |
| Current investments | 50/53 | €421,744 | €423,054 | +€1,311 | +0.3% |
| Cash at bank and in hand | 54/58 | €13,837 | €14,906 | +€1,069 | +7.7% |
| Deferred charges and accrued income | 490/1 | €5,540 | €12,633 | +€7,093 | +128.0% |
| Total equity and liabilities | 10/49 | €2,177,271 | €2,130,838 | -€46,433 | -2.1% |
| Equity | 10/15 | €935,334 | €939,014 | +€3,680 | +0.4% |
| Contributions | 10/11 | €182,500 | €182,500 | = | 0.0% |
| Reserves | 13 | €764,527 | €750,890 | -€13,636 | -1.8% |
| Non-distributable reserves | 130/1 | €14,043 | €14,043 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,043 | €14,043 | = | 0.0% |
| Tax-exempt reserves | 132 | €394,484 | €380,847 | -€13,636 | -3.5% |
| Distributable reserves | 133 | €356,000 | €356,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,692 | €5,624 | +€17,316 | |
| Provisions and deferred taxes | 16 | €131,495 | €126,949 | -€4,545 | -3.5% |
| Deferred taxes | 168 | €131,495 | €126,949 | -€4,545 | -3.5% |
| Amounts payable | 17/49 | €1,110,442 | €1,064,875 | -€45,568 | -4.1% |
| Amounts payable after more than one year | 17 | €744,950 | €689,644 | -€55,306 | -7.4% |
| Financial debts | 170/4 | €744,950 | €689,644 | -€55,306 | -7.4% |
| Amounts payable within one year | 42/48 | €359,142 | €368,880 | +€9,739 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €54,344 | €55,306 | +€962 | +1.8% |
| Trade debts | 44 | €582 | €200 | -€382 | -65.7% |
| Suppliers | 440/4 | €582 | €200 | -€382 | -65.7% |
| Taxes, remuneration and social security | 45 | €1,236 | €75 | -€1,161 | -93.9% |
| Taxes | 450/3 | €1,236 | €75 | -€1,161 | -93.9% |
| Other amounts payable | 47/48 | €302,979 | €313,299 | +€10,320 | +3.4% |
| Accrued charges and deferred income | 492/3 | €6,350 | €6,350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,463 | €55,602 | +€139 | +0.3% |
| Other operating charges | 640/8 | €2,745 | €2,828 | +€83 | +3.0% |
| Non-recurring operating charges | 66A | €10,200 | - | -€10,200 | |
| Gross operating margin | 9900 | €68,405 | €70,259 | +€1,854 | +2.7% |
| Operating profit (loss) | 9901 | -€2 | €11,829 | +€11,832 | |
| Financial income | 75/76B | €1,311 | €1,333 | +€22 | +1.7% |
| Recurring financial income | 75 | €1,311 | €1,333 | +€22 | +1.7% |
| Financial charges | 65/66B | €14,857 | €13,953 | -€904 | -6.1% |
| Recurring financial charges | 65 | €14,857 | €13,953 | -€904 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,549 | -€791 | +€12,758 | +94.2% |
| Transfer from deferred taxes | 780 | - | €4,545 | +€4,545 | |
| Transfer to deferred taxes | 680 | €11,829 | - | -€11,829 | |
| Income taxes | 67/77 | €74 | €75 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€25,452 | €3,680 | +€29,132 | |
| Transfer from tax-exempt reserves | 789 | - | €13,636 | +€13,636 | |
| Transfer to tax-exempt reserves | 689 | €35,488 | - | -€35,488 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,940 | €17,316 | +€78,256 |
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 7 October 2026 via checked.be.