GERARDIPHAR: 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.
GERARDIPHAR
Largest movements
- Cash -€304,336
down €304,336 (-69.8%), from €436,303 to €131,967
mainly Other debts (-€223,582) and Current investments (-€110,600)
- Current investments +€110,600
new in 2025: €110,600
- Tangible fixed assets -€19,146
down €19,146 (-2.8%), from €695,744 to €676,598
of which Furniture and vehicles: -€40,206
- Receivables within one year -€14,167
down €14,167 (-58.9%), from €24,071 to €9,904
of which Trade receivables: -€13,630
- Other debts -€223,582
down €223,582 (-77.0%), from €290,348 to €66,766
- Debts after one year -€88,369
down €88,369 (-23.3%), from €379,488 to €291,119
- Tax, wage and social debts +€86,614
up €86,614 (+115%), from €75,559 to €162,173
of which Taxes: +€86,614
- Gross operating margin -€444,118
down €444,118 (-72.1%), from €615,711 to €171,593
- Staff costs -€222,337
down €222,337 (-99.6%), from €223,244 to €907
- Other operating charges +€100,256
up €100,256 (+1,169%), from €8,574 to €108,830
- Taxes -€86,197
down €86,197 (-99.7%), from €86,466 to €269
- Depreciation -€63,704
down €63,704 (-52.0%), from €122,455 to €58,751
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 | €1,168,053 | €931,701 | -€236,352 | -20.2% |
| Fixed assets | 21/28 | €697,758 | €678,612 | -€19,146 | -2.7% |
| Tangible fixed assets | 22/27 | €695,744 | €676,598 | -€19,146 | -2.8% |
| Land and buildings | 22 | €616,421 | €637,481 | +€21,060 | +3.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €79,323 | €39,117 | -€40,206 | -50.7% |
| Financial fixed assets | 28 | €2,014 | €2,014 | = | 0.0% |
| Current assets | 29/58 | €470,294 | €253,089 | -€217,206 | -46.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €24,071 | €9,904 | -€14,167 | -58.9% |
| Trade receivables | 40 | €23,533 | €9,904 | -€13,630 | -57.9% |
| Other amounts receivable | 41 | €537 | €0 | -€537 | -100% |
| Current investments | 50/53 | - | €110,600 | +€110,600 | |
| Cash at bank and in hand | 54/58 | €436,303 | €131,967 | -€304,336 | -69.8% |
| Deferred charges and accrued income | 490/1 | €9,921 | €618 | -€9,303 | -93.8% |
| Total equity and liabilities | 10/49 | €1,168,053 | €931,701 | -€236,352 | -20.2% |
| Equity | 10/15 | €329,264 | €323,275 | -€5,989 | -1.8% |
| Contributions | 10/11 | €3,415 | €3,415 | = | 0.0% |
| Reserves | 13 | €325,849 | €319,860 | -€5,989 | -1.8% |
| Tax-exempt reserves | 132 | €14,365 | €14,365 | = | 0.0% |
| Distributable reserves | 133 | €311,484 | €305,495 | -€5,989 | -1.9% |
| Amounts payable | 17/49 | €838,789 | €608,426 | -€230,363 | -27.5% |
| Amounts payable after more than one year | 17 | €379,488 | €291,119 | -€88,369 | -23.3% |
| Financial debts | 170/4 | €379,488 | €291,119 | -€88,369 | -23.3% |
| Amounts payable within one year | 42/48 | €459,301 | €317,308 | -€141,994 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €91,489 | €88,369 | -€3,120 | -3.4% |
| Trade debts | 44 | €1,905 | €0 | -€1,905 | -100% |
| Suppliers | 440/4 | €1,905 | €0 | -€1,905 | -100% |
| Taxes, remuneration and social security | 45 | €75,559 | €162,173 | +€86,614 | +115% |
| Taxes | 450/3 | €75,559 | €162,173 | +€86,614 | +115% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €290,348 | €66,766 | -€223,582 | -77.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €3,277 | €0 | -€3,277 | -100% |
| Remuneration, social security and pensions | 62 | €223,244 | €907 | -€222,337 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,455 | €58,751 | -€63,704 | -52.0% |
| Other operating charges | 640/8 | €8,574 | €108,830 | +€100,256 | +1,169% |
| Gross operating margin | 9900 | €615,711 | €171,593 | -€444,118 | -72.1% |
| Operating profit (loss) | 9901 | €261,438 | €3,104 | -€258,333 | -98.8% |
| Financial income | 75/76B | €2,665 | €501 | -€2,163 | -81.2% |
| Recurring financial income | 75 | €2,665 | €501 | -€2,163 | -81.2% |
| Financial charges | 65/66B | €15,507 | €9,325 | -€6,182 | -39.9% |
| Recurring financial charges | 65 | €15,507 | €9,325 | -€6,182 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €248,595 | -€5,720 | -€254,315 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €86,466 | €269 | -€86,197 | -99.7% |
| Profit (loss) for the period | 9904 | €162,129 | -€5,989 | -€168,118 | |
| Profit (loss) for the period to be appropriated | 9905 | €162,129 | -€5,989 | -€168,118 |
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 19 October 2026 via checked.be.