GERAPH: 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.
GERAPH
Largest movements
- Tangible fixed assets -€6,904
down €6,904 (-29.0%), from €23,794 to €16,891
- Stocks and contracts +€5,107
up €5,107 (+73.0%), from €6,995 to €12,102
- Receivables within one year +€1,116
up €1,116 (+39.8%), from €2,806 to €3,923
of which Trade receivables: +€1,879
- Deferred charges and accrued income +€698
new in 2025: €698
- Cash +€582
up €582 (+45.4%), from €1,282 to €1,864
mainly Other debts (+€19,240) and Debts after one year (+€11,193)
- Profit (loss) carried forward -€21,494
down €21,494 (-38.2%), from -€56,195 to -€77,689
- Other debts +€19,240
up €19,240 (+105.2%), from €18,293 to €37,533
- Current portion of long-term debt -€15,431
down €15,431 (-68.2%), from €22,622 to €7,191
- Debts after one year +€11,193
up €11,193 (+34.0%), from €32,896 to €44,089
- Tax, wage and social debts +€2,980
up €2,980 (+60.3%), from €4,946 to €7,926
of which Remuneration and social security: +€1,757
- Staff costs -€3,214
down €3,214 (-9.1%), from €35,176 to €31,963
- Gross operating margin -€1,071
down €1,071 (-4.7%), from €22,752 to €21,681
- Other operating charges +€836
up €836 (+340.9%), from €245 to €1,082
- Financial charges +€813
up €813 (+33.0%), from €2,464 to €3,277
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 | €38,037 | €38,637 | +€600 | +1.6% |
| Fixed assets | 21/28 | €26,954 | €20,051 | -€6,904 | -25.6% |
| Tangible fixed assets | 22/27 | €23,794 | €16,891 | -€6,904 | -29.0% |
| Plant, machinery and equipment | 23 | €11,192 | €7,939 | -€3,252 | -29.1% |
| Furniture and vehicles | 24 | €2,133 | €1,414 | -€719 | -33.7% |
| Other tangible fixed assets | 26 | €10,470 | €7,537 | -€2,933 | -28.0% |
| Financial fixed assets | 28 | €3,160 | €3,160 | = | 0.0% |
| Current assets | 29/58 | €11,083 | €18,586 | +€7,504 | +67.7% |
| Stocks and contracts in progress | 3 | €6,995 | €12,102 | +€5,107 | +73.0% |
| Stocks | 30/36 | €6,995 | €12,102 | +€5,107 | +73.0% |
| Amounts receivable within one year | 40/41 | €2,806 | €3,923 | +€1,116 | +39.8% |
| Trade receivables | 40 | - | €1,879 | +€1,879 | |
| Other amounts receivable | 41 | €2,806 | €2,044 | -€762 | -27.2% |
| Cash at bank and in hand | 54/58 | €1,282 | €1,864 | +€582 | +45.4% |
| Deferred charges and accrued income | 490/1 | - | €698 | +€698 | |
| Total equity and liabilities | 10/49 | €38,037 | €38,637 | +€600 | +1.6% |
| Equity | 10/15 | -€46,195 | -€67,689 | -€21,494 | -46.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,195 | -€77,689 | -€21,494 | -38.2% |
| Amounts payable | 17/49 | €84,233 | €106,326 | +€22,094 | +26.2% |
| Amounts payable after more than one year | 17 | €32,896 | €44,089 | +€11,193 | +34.0% |
| Financial debts | 170/4 | €32,896 | €44,089 | +€11,193 | +34.0% |
| Amounts payable within one year | 42/48 | €51,337 | €60,973 | +€9,636 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €22,622 | €7,191 | -€15,431 | -68.2% |
| Trade debts | 44 | €5,476 | €7,723 | +€2,248 | +41.0% |
| Suppliers | 440/4 | €5,476 | €7,723 | +€2,248 | +41.0% |
| Advances received on contracts in progress | 46 | - | €600 | +€600 | |
| Taxes, remuneration and social security | 45 | €4,946 | €7,926 | +€2,980 | +60.3% |
| Taxes | 450/3 | €550 | €1,773 | +€1,223 | +222.2% |
| Remuneration and social security | 454/9 | €4,395 | €6,152 | +€1,757 | +40.0% |
| Other amounts payable | 47/48 | €18,293 | €37,533 | +€19,240 | +105.2% |
| Accrued charges and deferred income | 492/3 | - | €1,265 | +€1,265 | |
| Remuneration, social security and pensions | 62 | €35,176 | €31,963 | -€3,214 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,904 | €6,904 | = | 0.0% |
| Other operating charges | 640/8 | €245 | €1,082 | +€836 | +340.9% |
| Gross operating margin | 9900 | €22,752 | €21,681 | -€1,071 | -4.7% |
| Operating profit (loss) | 9901 | -€19,573 | -€18,267 | +€1,306 | +6.7% |
| Financial income | 75/76B | €1 | €51 | +€50 | +6294.9% |
| Recurring financial income | 75 | €1 | €51 | +€50 | +6294.9% |
| Financial charges | 65/66B | €2,464 | €3,277 | +€813 | +33.0% |
| Recurring financial charges | 65 | €2,464 | €3,277 | +€813 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | -€22,037 | -€21,494 | +€543 | +2.5% |
| Profit (loss) for the period | 9904 | -€22,037 | -€21,494 | +€543 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,037 | -€21,494 | +€543 | +2.5% |
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 3 October 2026 via checked.be.