GERARD: 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.
GERARD
Largest movements
- Receivables within one year +€136,011
up €136,011 (+6,458%), from €2,106 to €138,117
of which Trade receivables: +€133,494
- Stocks and contracts -€5,700
down €5,700 (-37.1%), from €15,346 to €9,646
- Financial fixed assets +€3,550
up €3,550 (+123%), from €2,876 to €6,426
- Cash -€3,131
down €3,131 (-47.8%), from €6,557 to €3,426
mainly Receivables within one year (-€136,011) and Investment in fixed assets (net) (-€6,330)
- Tangible fixed assets +€2,020
up €2,020 (+551%), from €367 to €2,387
of which Plant, machinery and equipment: +€2,320
- Trade debts +€51,002
up €51,002 (+509%), from €10,024 to €61,026
- Advances received +€34,792
new in 2024: €34,792
- Profit (loss) carried forward +€26,186
up €26,186, from -€12,529 to €13,657
- Other debts +€9,639
up €9,639 (+80.3%), from €12,006 to €21,645
- Tax, wage and social debts +€8,142
up €8,142 (+233%), from €3,501 to €11,643
of which Taxes: +€7,508
- Gross operating margin +€55,656
up €55,656, from -€10,109 to €45,547
- Staff costs +€12,035
new in 2024: €12,035
- Taxes +€3,478
new in 2024: €3,478
- Financial charges +€810
up €810 (+62.0%), from €1,306 to €2,116
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,280 | €160,002 | +€132,722 | +487% |
| Fixed assets | 21/28 | €3,243 | €8,813 | +€5,570 | +172% |
| Tangible fixed assets | 22/27 | €367 | €2,387 | +€2,020 | +551% |
| Plant, machinery and equipment | 23 | - | €2,320 | +€2,320 | |
| Furniture and vehicles | 24 | €367 | €67 | -€300 | -81.8% |
| Financial fixed assets | 28 | €2,876 | €6,426 | +€3,550 | +123% |
| Current assets | 29/58 | €24,038 | €151,189 | +€127,152 | +529% |
| Stocks and contracts in progress | 3 | €15,346 | €9,646 | -€5,700 | -37.1% |
| Stocks | 30/36 | €15,346 | €9,646 | -€5,700 | -37.1% |
| Amounts receivable within one year | 40/41 | €2,106 | €138,117 | +€136,011 | +6,458% |
| Trade receivables | 40 | €2,106 | €135,599 | +€133,494 | +6,339% |
| Other amounts receivable | 41 | - | €2,517 | +€2,517 | |
| Cash at bank and in hand | 54/58 | €6,557 | €3,426 | -€3,131 | -47.8% |
| Deferred charges and accrued income | 490/1 | €28 | - | -€28 | |
| Total equity and liabilities | 10/49 | €27,280 | €160,002 | +€132,722 | +487% |
| Equity | 10/15 | -€4,428 | €21,758 | +€26,186 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,101 | €3,101 | = | 0.0% |
| Distributable reserves | 133 | €3,101 | €3,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,529 | €13,657 | +€26,186 | |
| Amounts payable | 17/49 | €31,708 | €138,244 | +€106,536 | +336% |
| Amounts payable after more than one year | 17 | €4,076 | €2,033 | -€2,043 | -50.1% |
| Financial debts | 170/4 | €4,076 | €2,033 | -€2,043 | -50.1% |
| Amounts payable within one year | 42/48 | €27,574 | €136,153 | +€108,578 | +394% |
| Current portion of amounts payable after more than one year | 42 | €2,043 | €2,397 | +€354 | +17.3% |
| Financial debts | 43 | - | €4,650 | +€4,650 | |
| Credit institutions | 430/8 | - | €4,650 | +€4,650 | |
| Trade debts | 44 | €10,024 | €61,026 | +€51,002 | +509% |
| Suppliers | 440/4 | €10,024 | €61,026 | +€51,002 | +509% |
| Advances received on contracts in progress | 46 | - | €34,792 | +€34,792 | |
| Taxes, remuneration and social security | 45 | €3,501 | €11,643 | +€8,142 | +233% |
| Taxes | 450/3 | €3,501 | €11,009 | +€7,508 | +214% |
| Remuneration and social security | 454/9 | - | €634 | +€634 | |
| Other amounts payable | 47/48 | €12,006 | €21,645 | +€9,639 | +80.3% |
| Accrued charges and deferred income | 492/3 | €58 | €58 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €12,035 | +€12,035 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400 | €760 | +€360 | +90.1% |
| Other operating charges | 640/8 | €1,069 | €1,363 | +€295 | +27.6% |
| Gross operating margin | 9900 | -€10,109 | €45,547 | +€55,656 | |
| Operating profit (loss) | 9901 | -€11,577 | €31,389 | +€42,966 | |
| Financial income | 75/76B | €355 | €391 | +€36 | +10.2% |
| Recurring financial income | 75 | €355 | €391 | +€36 | +10.2% |
| Financial charges | 65/66B | €1,306 | €2,116 | +€810 | +62.0% |
| Recurring financial charges | 65 | €1,306 | €2,116 | +€810 | +62.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,529 | €29,664 | +€42,192 | |
| Income taxes | 67/77 | - | €3,478 | +€3,478 | |
| Profit (loss) for the period | 9904 | -€12,529 | €26,186 | +€38,714 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,529 | €26,186 | +€38,714 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.