GERASENCO: 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.
GERASENCO
Largest movements
- Receivables within one year +€58,956
up €58,956 (+34.2%), from €172,305 to €231,261
of which Other amounts receivable: +€81,258
- Tangible fixed assets +€35,816
up €35,816 (+1,713%), from €2,090 to €37,906
of which Leasing and similar rights: +€37,635
- Current investments +€21,273
up €21,273 (+202%), from €10,539 to €31,812
- Cash +€14,982
up €14,982 (+2,127%), from €704 to €15,687
mainly Net result for the year (+€88,269) and Debts after one year (+€30,867)
- Reserves +€88,269
up €88,269 (+60.3%), from €146,382 to €234,651
- Debts after one year +€30,867
new in 2025: €30,867
- Current portion of long-term debt +€8,394
new in 2025: €8,394
- Trade debts +€4,855
up €4,855 (+44.3%), from €10,964 to €15,819
- Gross operating margin +€54,108
up €54,108 (+62.9%), from €86,007 to €140,114
- Taxes +€21,382
up €21,382 (+72.2%), from €29,595 to €50,977
- Depreciation +€1,942
up €1,942 (+54.6%), from €3,557 to €5,498
- Financial income +€1,871
up €1,871 (+25.7%), from €7,283 to €9,155
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 | €195,321 | €328,303 | +€132,981 | +68.1% |
| Fixed assets | 21/28 | €2,395 | €37,906 | +€35,511 | +1,482% |
| Tangible fixed assets | 22/27 | €2,090 | €37,906 | +€35,816 | +1,713% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,090 | €271 | -€1,820 | -87.0% |
| Leasing and similar rights | 25 | - | €37,635 | +€37,635 | |
| Financial fixed assets | 28 | €305 | €0 | -€305 | -100% |
| Current assets | 29/58 | €192,926 | €290,396 | +€97,471 | +50.5% |
| Amounts receivable within one year | 40/41 | €172,305 | €231,261 | +€58,956 | +34.2% |
| Trade receivables | 40 | €22,302 | €0 | -€22,302 | -100% |
| Other amounts receivable | 41 | €150,003 | €231,261 | +€81,258 | +54.2% |
| Current investments | 50/53 | €10,539 | €31,812 | +€21,273 | +202% |
| Cash at bank and in hand | 54/58 | €704 | €15,687 | +€14,982 | +2,127% |
| Deferred charges and accrued income | 490/1 | €9,378 | €11,637 | +€2,259 | +24.1% |
| Total equity and liabilities | 10/49 | €195,321 | €328,303 | +€132,981 | +68.1% |
| Equity | 10/15 | €158,782 | €247,051 | +€88,269 | +55.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €146,382 | €234,651 | +€88,269 | +60.3% |
| Distributable reserves | 133 | €146,382 | €234,651 | +€88,269 | +60.3% |
| Amounts payable | 17/49 | €36,539 | €81,252 | +€44,712 | +122% |
| Amounts payable after more than one year | 17 | - | €30,867 | +€30,867 | |
| Financial debts | 170/4 | - | €30,867 | +€30,867 | |
| Amounts payable within one year | 42/48 | €36,539 | €50,384 | +€13,845 | +37.9% |
| Current portion of amounts payable after more than one year | 42 | - | €8,394 | +€8,394 | |
| Financial debts | 43 | €65 | €9 | -€56 | -85.4% |
| Credit institutions | 430/8 | €65 | €9 | -€56 | -85.4% |
| Trade debts | 44 | €10,964 | €15,819 | +€4,855 | +44.3% |
| Suppliers | 440/4 | €10,964 | €15,819 | +€4,855 | +44.3% |
| Taxes, remuneration and social security | 45 | €25,511 | €26,162 | +€651 | +2.6% |
| Taxes | 450/3 | €25,511 | €26,162 | +€651 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,557 | €5,498 | +€1,942 | +54.6% |
| Other operating charges | 640/8 | €1,914 | €2,409 | +€495 | +25.9% |
| Gross operating margin | 9900 | €86,007 | €140,114 | +€54,108 | +62.9% |
| Operating profit (loss) | 9901 | €80,536 | €132,207 | +€51,671 | +64.2% |
| Financial income | 75/76B | €7,283 | €9,155 | +€1,871 | +25.7% |
| Recurring financial income | 75 | €7,283 | €9,155 | +€1,871 | +25.7% |
| Financial charges | 65/66B | €3,510 | €2,115 | -€1,395 | -39.7% |
| Recurring financial charges | 65 | €3,510 | €2,115 | -€1,395 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | €84,309 | €139,246 | +€54,938 | +65.2% |
| Income taxes | 67/77 | €29,595 | €50,977 | +€21,382 | +72.2% |
| Profit (loss) for the period | 9904 | €54,714 | €88,269 | +€33,556 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,714 | €88,269 | +€33,556 | +61.3% |
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 14 October 2026 via checked.be.