GERARD Group: 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 Group
Largest movements
- Receivables within one year -€32,477
down €32,477 (-17.8%), from €182,296 to €149,819
of which Trade receivables: -€16,995
- Tangible fixed assets -€27,990
down €27,990 (-37.2%), from €75,265 to €47,275
of which Furniture and vehicles: -€16,498
- Cash -€13,374
down €13,374 (-52.4%), from €25,520 to €12,146
mainly Advances received (-€27,015) and Tax, wage and social debts (-€20,095)
- Advances received -€27,015
no longer reported in 2025 (was €27,015)
- Tax, wage and social debts -€20,095
down €20,095 (-20.5%), from €98,142 to €78,046
- Trade debts -€18,663
down €18,663 (-27.4%), from €68,071 to €49,408
- Debts after one year -€14,035
down €14,035 (-13.5%), from €104,325 to €90,291
- Accrued charges and deferred income +€7,534
new in 2025: €7,534
- Gross operating margin -€180,160
down €180,160 (-79.9%), from €225,585 to €45,426
- Purchases and services +€29,517
up €29,517 (+12.4%), from €237,942 to €267,459
- Turnover -€26,449
down €26,449 (-8.0%), from €331,108 to €304,659
- Financial income -€26,089
down €26,089 (-97.9%), from €26,654 to €565
of which Non-recurring financial income: -€25,505
- Depreciation -€23,666
down €23,666 (-45.8%), from €51,656 to €27,990
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 | €290,904 | €218,539 | -€72,365 | -24.9% |
| Fixed assets | 21/28 | €83,088 | €55,098 | -€27,990 | -33.7% |
| Tangible fixed assets | 22/27 | €75,265 | €47,275 | -€27,990 | -37.2% |
| Land and buildings | 22 | €43,198 | €35,324 | -€7,875 | -18.2% |
| Plant, machinery and equipment | 23 | €14,152 | €10,534 | -€3,618 | -25.6% |
| Furniture and vehicles | 24 | €17,915 | €1,417 | -€16,498 | -92.1% |
| Financial fixed assets | 28 | €7,823 | €7,823 | = | 0.0% |
| Current assets | 29/58 | €207,816 | €163,441 | -€44,375 | -21.4% |
| Amounts receivable within one year | 40/41 | €182,296 | €149,819 | -€32,477 | -17.8% |
| Trade receivables | 40 | €165,410 | €148,415 | -€16,995 | -10.3% |
| Other amounts receivable | 41 | €16,885 | €1,403 | -€15,482 | -91.7% |
| Cash at bank and in hand | 54/58 | €25,520 | €12,146 | -€13,374 | -52.4% |
| Deferred charges and accrued income | 490/1 | - | €1,476 | +€1,476 | |
| Total equity and liabilities | 10/49 | €290,904 | €218,539 | -€72,365 | -24.9% |
| Equity | 10/15 | -€20,242 | -€20,867 | -€624 | -3.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €51,860 | €51,860 | = | 0.0% |
| Distributable reserves | 133 | €51,860 | €51,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,103 | -€72,728 | -€624 | -0.9% |
| Amounts payable | 17/49 | €311,147 | €239,406 | -€71,741 | -23.1% |
| Amounts payable after more than one year | 17 | €104,325 | €90,291 | -€14,035 | -13.5% |
| Financial debts | 170/4 | €104,325 | €90,291 | -€14,035 | -13.5% |
| Amounts payable within one year | 42/48 | €206,821 | €141,581 | -€65,240 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €13,593 | €14,035 | +€441 | +3.2% |
| Trade debts | 44 | €68,071 | €49,408 | -€18,663 | -27.4% |
| Suppliers | 440/4 | €68,071 | €49,408 | -€18,663 | -27.4% |
| Advances received on contracts in progress | 46 | €27,015 | - | -€27,015 | |
| Taxes, remuneration and social security | 45 | €98,142 | €78,046 | -€20,095 | -20.5% |
| Taxes | 450/3 | €98,142 | €78,046 | -€20,095 | -20.5% |
| Other amounts payable | 47/48 | - | €92 | +€92 | |
| Accrued charges and deferred income | 492/3 | - | €7,534 | +€7,534 | |
| Turnover | 70 | €331,108 | €304,659 | -€26,449 | -8.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €237,942 | €267,459 | +€29,517 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,656 | €27,990 | -€23,666 | -45.8% |
| Other operating charges | 640/8 | €7,197 | €9,680 | +€2,483 | +34.5% |
| Non-recurring operating charges | 66A | - | €772 | +€772 | |
| Gross operating margin | 9900 | €225,585 | €45,426 | -€180,160 | -79.9% |
| Operating profit (loss) | 9901 | €166,733 | €6,983 | -€159,750 | -95.8% |
| Financial income | 75/76B | €26,654 | €565 | -€26,089 | -97.9% |
| Recurring financial income | 75 | €1,150 | €565 | -€584 | -50.8% |
| Non-recurring financial income | 76B | €25,505 | - | -€25,505 | |
| Financial charges | 65/66B | €8,973 | €6,194 | -€2,778 | -31.0% |
| Recurring financial charges | 65 | €8,973 | €6,194 | -€2,778 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €184,415 | €1,354 | -€183,061 | -99.3% |
| Income taxes | 67/77 | €25,595 | €1,978 | -€23,617 | -92.3% |
| Profit (loss) for the period | 9904 | €158,820 | -€624 | -€159,444 | |
| Profit (loss) for the period to be appropriated | 9905 | €158,820 | -€624 | -€159,444 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.