GERALIE: 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.
GERALIE
Largest movements
- Cash -€41,319
down €41,319 (-70.5%), from €58,637 to €17,318
mainly Investment in fixed assets (net) (-€12,179) and Receivables within one year (-€11,945)
- Receivables within one year +€11,945
up €11,945 (+9,744%), from €123 to €12,067
- Stocks and contracts +€11,394
up €11,394 (+7.9%), from €144,232 to €155,626
- Tangible fixed assets +€4,100
up €4,100 (+15.3%), from €26,788 to €30,888
of which Plant, machinery and equipment: +€7,583
- Other debts -€9,156
down €9,156 (-49.2%), from €18,607 to €9,451
- Trade debts -€8,133
down €8,133 (-74.6%), from €10,895 to €2,762
- Accrued charges and deferred income +€4,248
new in 2025: €4,248
- Tax, wage and social debts +€2,652
up €2,652 (+14.3%), from €18,585 to €21,237
of which Taxes: +€2,605
- Gross operating margin -€35,070
down €35,070 (-67.6%), from €51,896 to €16,826
- Taxes -€7,561
down €7,561 (-94.7%), from €7,980 to €420
- Depreciation +€2,802
up €2,802 (+53.1%), from €5,277 to €8,079
- Financial charges -€741
down €741 (-7.0%), from €10,649 to €9,908
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 | €232,269 | €219,610 | -€12,659 | -5.5% |
| Fixed assets | 21/28 | €26,913 | €31,013 | +€4,100 | +15.2% |
| Tangible fixed assets | 22/27 | €26,788 | €30,888 | +€4,100 | +15.3% |
| Plant, machinery and equipment | 23 | €2,486 | €10,069 | +€7,583 | +305% |
| Furniture and vehicles | 24 | €0 | €711 | +€711 | |
| Other tangible fixed assets | 26 | €24,303 | €20,109 | -€4,194 | -17.3% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €205,356 | €188,597 | -€16,759 | -8.2% |
| Stocks and contracts in progress | 3 | €144,232 | €155,626 | +€11,394 | +7.9% |
| Stocks | 30/36 | €144,232 | €155,626 | +€11,394 | +7.9% |
| Amounts receivable within one year | 40/41 | €123 | €12,067 | +€11,945 | +9,744% |
| Other amounts receivable | 41 | €123 | €12,067 | +€11,945 | +9,744% |
| Cash at bank and in hand | 54/58 | €58,637 | €17,318 | -€41,319 | -70.5% |
| Deferred charges and accrued income | 490/1 | €2,364 | €3,585 | +€1,221 | +51.7% |
| Total equity and liabilities | 10/49 | €232,269 | €219,610 | -€12,659 | -5.5% |
| Equity | 10/15 | €124,181 | €121,912 | -€2,269 | -1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,721 | €101,452 | -€2,269 | -2.2% |
| Amounts payable | 17/49 | €108,088 | €97,698 | -€10,390 | -9.6% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,088 | €33,450 | -€14,638 | -30.4% |
| Trade debts | 44 | €10,895 | €2,762 | -€8,133 | -74.6% |
| Suppliers | 440/4 | €10,895 | €2,762 | -€8,133 | -74.6% |
| Taxes, remuneration and social security | 45 | €18,585 | €21,237 | +€2,652 | +14.3% |
| Taxes | 450/3 | €15,967 | €18,572 | +€2,605 | +16.3% |
| Remuneration and social security | 454/9 | €2,618 | €2,665 | +€47 | +1.8% |
| Other amounts payable | 47/48 | €18,607 | €9,451 | -€9,156 | -49.2% |
| Accrued charges and deferred income | 492/3 | - | €4,248 | +€4,248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,277 | €8,079 | +€2,802 | +53.1% |
| Other operating charges | 640/8 | €719 | €688 | -€31 | -4.3% |
| Gross operating margin | 9900 | €51,896 | €16,826 | -€35,070 | -67.6% |
| Operating profit (loss) | 9901 | €45,900 | €8,059 | -€37,841 | -82.4% |
| Financial income | 75/76B | €169 | €0 | -€169 | -99.9% |
| Recurring financial income | 75 | €169 | €0 | -€169 | -99.9% |
| Financial charges | 65/66B | €10,649 | €9,908 | -€741 | -7.0% |
| Recurring financial charges | 65 | €10,649 | €9,908 | -€741 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €35,420 | -€1,849 | -€37,269 | |
| Income taxes | 67/77 | €7,980 | €420 | -€7,561 | -94.7% |
| Profit (loss) for the period | 9904 | €27,440 | -€2,269 | -€29,709 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,440 | -€2,269 | -€29,709 |
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 14 October 2026 via checked.be.