GERARD EDDY: 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 EDDY
Largest movements
- Receivables within one year -€5,594
down €5,594 (-42.4%), from €13,189 to €7,595
of which Other amounts receivable: -€5,879
- Current investments -€4,671
down €4,671 (-5.8%), from €80,000 to €75,329
- Deferred charges and accrued income -€2,677
down €2,677 (-28.6%), from €9,367 to €6,690
- Cash +€2,566
up €2,566 (+19.0%), from €13,501 to €16,067
mainly Trade debts (+€6,317) and Receivables within one year (+€5,594)
- Reserves -€16,800
down €16,800 (-17.7%), from €95,150 to €78,350
- Trade debts +€6,317
up €6,317 (+330%), from €1,912 to €8,229
- Tax, wage and social debts -€1,500
no longer reported in 2025 (was €1,500)
- Gross operating margin -€23,312
down €23,312, from €12,738 to -€10,574
- Taxes -€2,055
down €2,055 (-94.0%), from €2,186 to €131
- Depreciation -€802
down €802 (-25.3%), from €3,168 to €2,366
- Other operating charges -€342
down €342 (-9.6%), from €3,572 to €3,229
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 | €119,834 | €108,292 | -€11,542 | -9.6% |
| Fixed assets | 21/28 | €3,777 | €2,611 | -€1,166 | -30.9% |
| Tangible fixed assets | 22/27 | €3,642 | €2,476 | -€1,166 | -32.0% |
| Plant, machinery and equipment | 23 | €1,033 | - | -€1,033 | |
| Furniture and vehicles | 24 | €2,290 | €2,237 | -€53 | -2.3% |
| Other tangible fixed assets | 26 | €318 | €239 | -€80 | -25.0% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €116,057 | €105,681 | -€10,376 | -8.9% |
| Amounts receivable within one year | 40/41 | €13,189 | €7,595 | -€5,594 | -42.4% |
| Trade receivables | 40 | €1,696 | €1,981 | +€285 | +16.8% |
| Other amounts receivable | 41 | €11,493 | €5,614 | -€5,879 | -51.2% |
| Current investments | 50/53 | €80,000 | €75,329 | -€4,671 | -5.8% |
| Cash at bank and in hand | 54/58 | €13,501 | €16,067 | +€2,566 | +19.0% |
| Deferred charges and accrued income | 490/1 | €9,367 | €6,690 | -€2,677 | -28.6% |
| Total equity and liabilities | 10/49 | €119,834 | €108,292 | -€11,542 | -9.6% |
| Equity | 10/15 | €115,234 | €98,496 | -€16,738 | -14.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €95,150 | €78,350 | -€16,800 | -17.7% |
| Distributable reserves | 133 | €95,150 | €78,350 | -€16,800 | -17.7% |
| Profit (loss) carried forward | 14 | €84 | €146 | +€62 | +74.3% |
| Amounts payable | 17/49 | €4,600 | €9,795 | +€5,196 | +113% |
| Amounts payable within one year | 42/48 | €4,212 | €9,396 | +€5,183 | +123% |
| Trade debts | 44 | €1,912 | €8,229 | +€6,317 | +330% |
| Suppliers | 440/4 | €1,912 | €8,229 | +€6,317 | +330% |
| Taxes, remuneration and social security | 45 | €1,500 | - | -€1,500 | |
| Taxes | 450/3 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €800 | €1,167 | +€367 | +45.8% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,168 | €2,366 | -€802 | -25.3% |
| Other operating charges | 640/8 | €3,572 | €3,229 | -€342 | -9.6% |
| Gross operating margin | 9900 | €12,738 | -€10,574 | -€23,312 | |
| Operating profit (loss) | 9901 | €5,998 | -€16,169 | -€22,167 | |
| Financial income | 75/76B | €503 | €470 | -€33 | -6.5% |
| Recurring financial income | 75 | €503 | €470 | -€33 | -6.5% |
| Financial charges | 65/66B | €65 | €74 | +€9 | +13.5% |
| Recurring financial charges | 65 | €65 | €74 | +€9 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €6,435 | -€15,774 | -€22,209 | |
| Income taxes | 67/77 | €2,186 | €131 | -€2,055 | -94.0% |
| Profit (loss) for the period | 9904 | €4,250 | -€15,905 | -€20,154 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,250 | -€15,905 | -€20,154 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.