GERAN: 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
GERAN
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11,506
2024 · €12,534-€1,028
Equity
€344,422
2024 · €332,916+€11,506
Cash
€33,286
2024 · €9,026+€24,261
Balance sheet total
€1.3m
2024 · €1.3m-€54,437
Largest movements
Assets
- Tangible fixed assets -€79,647
down €79,647 (-6.1%), from €1.3m to €1.2m
of which Land and buildings: -€86,909
- Cash +€24,261
up €24,261 (+268.8%), from €9,026 to €33,286
mainly Depreciation (+€141,224) and Other debts (+€65,220)
Equity and liabilities
- Debts after one year -€117,939
down €117,939 (-21.8%), from €540,358 to €422,418
- Other debts +€65,220
up €65,220 (+22.7%), from €287,113 to €352,333
- Trade debts -€19,272
down €19,272 (-83.7%), from €23,020 to €3,748
Income statement
- Depreciation +€23,633
up €23,633 (+20.1%), from €117,591 to €141,224
- Gross operating margin +€22,172
up €22,172 (+13.0%), from €170,927 to €193,099
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
€12,534
Gross operating margin
+€22,172
Depreciation
-€23,633
Other operating charges
-€311
Financial income
-€419
Financial charges
+€1,047
Taxes
+€117
Result 2025
€11,506
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
+€201,849
Investment
-€61,577
Financing
-€116,011
Cash 2024
€9,026
From operations (derived)
+€201,849
Net result for the year
+€11,506
Depreciation
+€141,224
Receivables within one year
+€2,185
Deferred charges and accrued income
-€3,134
Provisions
-€176
Trade debts
-€19,272
Tax, wage and social debts
+€2,407
Other debts
+€65,220
Accrued charges and deferred income
+€1,889
Investment (derived)
-€61,577
Investment in fixed assets (net)
-€61,577
Financing
-€116,011
Debts after one year
-€117,939
Current portion of long-term debt
+€1,929
Cash 2025
€33,286
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,340,862 | €1,286,424 | -€54,437 | -4.1% |
| Fixed assets | 21/28 | €1,297,904 | €1,218,257 | -€79,647 | -6.1% |
| Tangible fixed assets | 22/27 | €1,297,886 | €1,218,239 | -€79,647 | -6.1% |
| Land and buildings | 22 | €1,297,793 | €1,210,883 | -€86,909 | -6.7% |
| Furniture and vehicles | 24 | €93 | €7,355 | +€7,262 | +7797.1% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €42,957 | €68,167 | +€25,210 | +58.7% |
| Amounts receivable within one year | 40/41 | €31,557 | €29,373 | -€2,185 | -6.9% |
| Trade receivables | 40 | €24,805 | €24,805 | = | 0.0% |
| Other amounts receivable | 41 | €6,752 | €4,568 | -€2,185 | -32.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €9,026 | €33,286 | +€24,261 | +268.8% |
| Deferred charges and accrued income | 490/1 | €2,374 | €5,508 | +€3,134 | +132.0% |
| Total equity and liabilities | 10/49 | €1,340,862 | €1,286,424 | -€54,437 | -4.1% |
| Equity | 10/15 | €332,916 | €344,422 | +€11,506 | +3.5% |
| Contributions | 10/11 | €186,973 | €186,973 | = | 0.0% |
| Capital | 10 | €186,973 | €186,973 | = | 0.0% |
| Issued capital | 100 | €186,973 | €186,973 | = | 0.0% |
| Reserves | 13 | €144,484 | €155,990 | +€11,506 | +8.0% |
| Non-distributable reserves | 130/1 | €18,697 | €18,697 | = | 0.0% |
| Legal reserve | 130 | €18,697 | €18,697 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,967 | €19,262 | -€705 | -3.5% |
| Distributable reserves | 133 | €105,820 | €118,030 | +€12,211 | +11.5% |
| Profit (loss) carried forward | 14 | €1,458 | €1,458 | = | 0.0% |
| Provisions and deferred taxes | 16 | €4,992 | €4,816 | -€176 | -3.5% |
| Deferred taxes | 168 | €4,992 | €4,816 | -€176 | -3.5% |
| Amounts payable | 17/49 | €1,002,954 | €937,187 | -€65,767 | -6.6% |
| Amounts payable after more than one year | 17 | €540,358 | €422,418 | -€117,939 | -21.8% |
| Financial debts | 170/4 | €540,358 | €422,418 | -€117,939 | -21.8% |
| Amounts payable within one year | 42/48 | €438,604 | €488,888 | +€50,284 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €116,011 | €117,939 | +€1,929 | +1.7% |
| Trade debts | 44 | €23,020 | €3,748 | -€19,272 | -83.7% |
| Suppliers | 440/4 | €23,020 | €3,748 | -€19,272 | -83.7% |
| Taxes, remuneration and social security | 45 | €12,460 | €14,867 | +€2,407 | +19.3% |
| Taxes | 450/3 | €9,229 | €11,618 | +€2,389 | +25.9% |
| Remuneration and social security | 454/9 | €3,231 | €3,249 | +€18 | +0.6% |
| Other amounts payable | 47/48 | €287,113 | €352,333 | +€65,220 | +22.7% |
| Accrued charges and deferred income | 492/3 | €23,992 | €25,881 | +€1,889 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,591 | €141,224 | +€23,633 | +20.1% |
| Other operating charges | 640/8 | €6,197 | €6,507 | +€311 | +5.0% |
| Gross operating margin | 9900 | €170,927 | €193,099 | +€22,172 | +13.0% |
| Operating profit (loss) | 9901 | €47,140 | €45,368 | -€1,772 | -3.8% |
| Financial income | 75/76B | €860 | €440 | -€419 | -48.8% |
| Recurring financial income | 75 | €860 | €440 | -€419 | -48.8% |
| Financial charges | 65/66B | €34,093 | €33,046 | -€1,047 | -3.1% |
| Recurring financial charges | 65 | €34,093 | €33,046 | -€1,047 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €13,907 | €12,762 | -€1,144 | -8.2% |
| Transfer from deferred taxes | 780 | €176 | €176 | = | 0.0% |
| Income taxes | 67/77 | €1,549 | €1,432 | -€117 | -7.5% |
| Profit (loss) for the period | 9904 | €12,534 | €11,506 | -€1,028 | -8.2% |
| Transfer from tax-exempt reserves | 789 | €705 | €705 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,238 | €12,211 | -€1,028 | -7.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.