GERAUD ANDREUX: 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.
GERAUD ANDREUX
Largest movements
- Cash +€37,937
up €37,937 (+106%), from €35,882 to €73,819
mainly Net result for the year (+€45,392) and Other debts (+€23,194)
- Tangible fixed assets -€9,943
down €9,943 (-68.0%), from €14,624 to €4,681
- Other debts +€23,194
up €23,194 (+77.3%), from €30,006 to €53,200
- Tax, wage and social debts +€11,593
up €11,593 (+67.2%), from €17,247 to €28,840
- Profit (loss) carried forward -€4,608
down €4,608 (-76.1%), from €6,053 to €1,445
- Trade debts -€1,440
down €1,440 (-44.4%), from €3,244 to €1,804
- Gross operating margin +€12,384
up €12,384 (+22.7%), from €54,478 to €66,862
- Financial income +€4,334
up €4,334 (+277%), from €1,564 to €5,898
- Taxes +€3,251
up €3,251 (+30.7%), from €10,589 to €13,840
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 | €72,010 | €100,802 | +€28,792 | +40.0% |
| Fixed assets | 21/28 | €14,624 | €4,681 | -€9,943 | -68.0% |
| Tangible fixed assets | 22/27 | €14,624 | €4,681 | -€9,943 | -68.0% |
| Furniture and vehicles | 24 | €14,624 | €4,681 | -€9,943 | -68.0% |
| Current assets | 29/58 | €57,387 | €96,121 | +€38,734 | +67.5% |
| Stocks and contracts in progress | 3 | €741 | €460 | -€281 | -37.9% |
| Stocks | 30/36 | €741 | €460 | -€281 | -37.9% |
| Amounts receivable within one year | 40/41 | €17,487 | €18,066 | +€578 | +3.3% |
| Trade receivables | 40 | €11,371 | €11,340 | -€31 | -0.3% |
| Other amounts receivable | 41 | €6,116 | €6,726 | +€609 | +10.0% |
| Cash at bank and in hand | 54/58 | €35,882 | €73,819 | +€37,937 | +106% |
| Deferred charges and accrued income | 490/1 | €3,277 | €3,777 | +€499 | +15.2% |
| Total equity and liabilities | 10/49 | €72,010 | €100,802 | +€28,792 | +40.0% |
| Equity | 10/15 | €21,513 | €16,905 | -€4,608 | -21.4% |
| Contributions | 10/11 | €15,460 | €15,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,053 | €1,445 | -€4,608 | -76.1% |
| Amounts payable | 17/49 | €50,497 | €83,896 | +€33,400 | +66.1% |
| Amounts payable within one year | 42/48 | €50,497 | €83,896 | +€33,400 | +66.1% |
| Financial debts | 43 | - | €53 | +€53 | |
| Credit institutions | 430/8 | - | €53 | +€53 | |
| Trade debts | 44 | €3,244 | €1,804 | -€1,440 | -44.4% |
| Suppliers | 440/4 | €3,244 | €1,804 | -€1,440 | -44.4% |
| Taxes, remuneration and social security | 45 | €17,247 | €28,840 | +€11,593 | +67.2% |
| Taxes | 450/3 | €17,247 | €28,840 | +€11,593 | +67.2% |
| Other amounts payable | 47/48 | €30,006 | €53,200 | +€23,194 | +77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,389 | €12,258 | -€132 | -1.1% |
| Other operating charges | 640/8 | €957 | €1,189 | +€232 | +24.2% |
| Gross operating margin | 9900 | €54,478 | €66,862 | +€12,384 | +22.7% |
| Operating profit (loss) | 9901 | €41,131 | €53,415 | +€12,284 | +29.9% |
| Financial income | 75/76B | €1,564 | €5,898 | +€4,334 | +277% |
| Recurring financial income | 75 | €1,564 | €5,898 | +€4,334 | +277% |
| Financial charges | 65/66B | €90 | €81 | -€10 | -10.9% |
| Recurring financial charges | 65 | €90 | €81 | -€10 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €42,604 | €59,232 | +€16,628 | +39.0% |
| Income taxes | 67/77 | €10,589 | €13,840 | +€3,251 | +30.7% |
| Profit (loss) for the period | 9904 | €32,016 | €45,392 | +€13,376 | +41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,016 | €45,392 | +€13,376 | +41.8% |
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 25 October 2026 via checked.be.