GERARDO FORERO: 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.
GERARDO FORERO
Largest movements
- Receivables within one year -€7,412
down €7,412 (-84.0%), from €8,822 to €1,410
of which Other amounts receivable: -€7,591
- Cash -€4,087
down €4,087 (-8.5%), from €47,954 to €43,868
mainly Trade debts (-€8,074) and Net result for the year (-€3,686)
- Trade debts -€8,074
down €8,074 (-93.1%), from €8,674 to €600
- Profit (loss) carried forward -€3,686
down €3,686 (-9.1%), from €40,473 to €36,787
- Gross operating margin -€8,903
down €8,903, from €6,416 to -€2,487
- Other operating charges +€118
up €118 (+17.3%), from €679 to €796
- Depreciation -€92
down €92 (-22.9%), from €401 to €309
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 | €58,162 | €46,196 | -€11,965 | -20.6% |
| Fixed assets | 21/28 | €255 | €602 | +€347 | +136% |
| Tangible fixed assets | 22/27 | €255 | €602 | +€347 | +136% |
| Plant, machinery and equipment | 23 | €255 | €94 | -€161 | -63.1% |
| Furniture and vehicles | 24 | - | €508 | +€508 | |
| Current assets | 29/58 | €57,907 | €45,594 | -€12,313 | -21.3% |
| Amounts receivable after more than one year | 29 | €265 | - | -€265 | |
| Other amounts receivable | 291 | €265 | - | -€265 | |
| Stocks and contracts in progress | 3 | €450 | €250 | -€200 | -44.4% |
| Stocks | 30/36 | €450 | €250 | -€200 | -44.4% |
| Amounts receivable within one year | 40/41 | €8,822 | €1,410 | -€7,412 | -84.0% |
| Trade receivables | 40 | - | €179 | +€179 | |
| Other amounts receivable | 41 | €8,822 | €1,231 | -€7,591 | -86.0% |
| Cash at bank and in hand | 54/58 | €47,954 | €43,868 | -€4,087 | -8.5% |
| Deferred charges and accrued income | 490/1 | €415 | €67 | -€349 | -83.9% |
| Total equity and liabilities | 10/49 | €58,162 | €46,196 | -€11,965 | -20.6% |
| Equity | 10/15 | €48,533 | €44,847 | -€3,686 | -7.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,473 | €36,787 | -€3,686 | -9.1% |
| Amounts payable | 17/49 | €9,629 | €1,350 | -€8,279 | -86.0% |
| Amounts payable within one year | 42/48 | €9,616 | €1,350 | -€8,266 | -86.0% |
| Trade debts | 44 | €8,674 | €600 | -€8,074 | -93.1% |
| Suppliers | 440/4 | €8,674 | €600 | -€8,074 | -93.1% |
| Taxes, remuneration and social security | 45 | €942 | €750 | -€192 | -20.4% |
| Taxes | 450/3 | €942 | €750 | -€192 | -20.4% |
| Accrued charges and deferred income | 492/3 | €12 | - | -€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401 | €309 | -€92 | -22.9% |
| Other operating charges | 640/8 | €679 | €796 | +€118 | +17.3% |
| Gross operating margin | 9900 | €6,416 | -€2,487 | -€8,903 | |
| Operating profit (loss) | 9901 | €5,336 | -€3,592 | -€8,929 | |
| Financial income | 75/76B | €40 | - | -€40 | |
| Recurring financial income | 75 | €40 | - | -€40 | |
| Non-recurring financial income | 76B | €40 | - | -€40 | |
| Financial charges | 65/66B | €137 | €94 | -€43 | -31.1% |
| Recurring financial charges | 65 | €137 | €94 | -€43 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €5,240 | -€3,686 | -€8,926 | |
| Profit (loss) for the period | 9904 | €5,240 | -€3,686 | -€8,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,240 | -€3,686 | -€8,926 |
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 23 October 2026 via checked.be.