Gerand: 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.
Gerand
Largest movements
- Receivables within one year +€10,788
up €10,788 (+65.9%), from €16,379 to €27,167
of which Trade receivables: +€9,354
- Cash -€5,496
down €5,496 (-57.0%), from €9,638 to €4,143
mainly Receivables within one year (-€10,788) and Debts after one year (-€7,128)
- Tangible fixed assets -€2,684
down €2,684 (-7.1%), from €38,042 to €35,358
of which Land and buildings: -€1,647
- Reserves +€32,729
new in 2025: €32,729
- Profit (loss) carried forward -€25,478
down €25,478 (-100%), from €25,478 to €0
- Debts after one year -€7,128
down €7,128 (-92.3%), from €7,725 to €597
- Tax, wage and social debts +€3,323
up €3,323 (+114%), from €2,913 to €6,236
- Trade debts -€3,136
down €3,136 (-46.8%), from €6,698 to €3,562
- Depreciation -€7,108
down €7,108 (-72.6%), from €9,792 to €2,684
- Gross operating margin -€2,558
down €2,558 (-15.0%), from €17,067 to €14,509
- Taxes +€1,982
up €1,982 (+138%), from €1,440 to €3,421
- Other operating charges -€1,320
down €1,320 (-54.9%), from €2,405 to €1,085
- Financial income +€257
up €257 (+311%), from €83 to €340
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 | €66,673 | €69,489 | +€2,816 | +4.2% |
| Fixed assets | 21/28 | €40,542 | €37,858 | -€2,684 | -6.6% |
| Tangible fixed assets | 22/27 | €38,042 | €35,358 | -€2,684 | -7.1% |
| Land and buildings | 22 | €35,464 | €33,817 | -€1,647 | -4.6% |
| Furniture and vehicles | 24 | €2,578 | €1,541 | -€1,037 | -40.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €26,131 | €31,631 | +€5,500 | +21.0% |
| Amounts receivable within one year | 40/41 | €16,379 | €27,167 | +€10,788 | +65.9% |
| Trade receivables | 40 | €9,767 | €19,121 | +€9,354 | +95.8% |
| Other amounts receivable | 41 | €6,613 | €8,046 | +€1,433 | +21.7% |
| Cash at bank and in hand | 54/58 | €9,638 | €4,143 | -€5,496 | -57.0% |
| Deferred charges and accrued income | 490/1 | €113 | €321 | +€208 | +185% |
| Total equity and liabilities | 10/49 | €66,673 | €69,489 | +€2,816 | +4.2% |
| Equity | 10/15 | €40,478 | €47,729 | +€7,251 | +17.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | - | €32,729 | +€32,729 | |
| Distributable reserves | 133 | - | €32,729 | +€32,729 | |
| Profit (loss) carried forward | 14 | €25,478 | €0 | -€25,478 | -100% |
| Amounts payable | 17/49 | €26,195 | €21,760 | -€4,435 | -16.9% |
| Amounts payable after more than one year | 17 | €7,725 | €597 | -€7,128 | -92.3% |
| Financial debts | 170/4 | €7,725 | €597 | -€7,128 | -92.3% |
| Amounts payable within one year | 42/48 | €18,470 | €21,163 | +€2,693 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €7,061 | €7,128 | +€67 | +1.0% |
| Trade debts | 44 | €6,698 | €3,562 | -€3,136 | -46.8% |
| Suppliers | 440/4 | €6,698 | €3,562 | -€3,136 | -46.8% |
| Taxes, remuneration and social security | 45 | €2,913 | €6,236 | +€3,323 | +114% |
| Taxes | 450/3 | €2,913 | €6,236 | +€3,323 | +114% |
| Other amounts payable | 47/48 | €1,799 | €4,237 | +€2,439 | +136% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,792 | €2,684 | -€7,108 | -72.6% |
| Other operating charges | 640/8 | €2,405 | €1,085 | -€1,320 | -54.9% |
| Gross operating margin | 9900 | €17,067 | €14,509 | -€2,558 | -15.0% |
| Operating profit (loss) | 9901 | €4,870 | €10,740 | +€5,870 | +121% |
| Financial income | 75/76B | €83 | €340 | +€257 | +311% |
| Recurring financial income | 75 | €83 | €340 | +€257 | +311% |
| Financial charges | 65/66B | €621 | €407 | -€214 | -34.4% |
| Recurring financial charges | 65 | €621 | €407 | -€214 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €4,331 | €10,672 | +€6,341 | +146% |
| Income taxes | 67/77 | €1,440 | €3,421 | +€1,982 | +138% |
| Profit (loss) for the period | 9904 | €2,891 | €7,251 | +€4,360 | +151% |
| Profit (loss) for the period to be appropriated | 9905 | €2,891 | €7,251 | +€4,360 | +151% |
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 25 October 2026 via checked.be.