Gerd Speed: what changed
Two fiscal 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.
Gerd Speed
Largest movements
- Tangible fixed assets -€11,487
down €11,487 (-30.7%), from €37,420 to €25,933
- Current investments +€10,000
new in 2025: €10,000
- Reserves -€186,280
down €186,280 (-86.9%), from €214,429 to €28,149
- Other debts +€167,542
up €167,542, from €0 to €167,542
- Tax, wage and social debts +€31,139
up €31,139 (+58.5%), from €53,227 to €84,366
- Debts after one year -€9,932
down €9,932 (-100.0%), from €9,932 to €0
- Gross operating margin +€25,218
up €25,218 (+25.1%), from €100,666 to €125,883
- Taxes +€4,196
up €4,196 (+20.9%), from €20,094 to €24,290
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.
Cash bridge derived
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 | €295,472 | €295,045 | -€427 | -0.1% |
| Fixed assets | 21/28 | €37,420 | €25,933 | -€11,487 | -30.7% |
| Tangible fixed assets | 22/27 | €37,420 | €25,933 | -€11,487 | -30.7% |
| Furniture and vehicles | 24 | €37,420 | €25,933 | -€11,487 | -30.7% |
| Current assets | 29/58 | €258,052 | €269,112 | +€11,060 | +4.3% |
| Amounts receivable within one year | 40/41 | €170 | €2 | -€168 | -98.8% |
| Other amounts receivable | 41 | €170 | €2 | -€168 | -98.8% |
| Current investments | 50/53 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €255,992 | €256,337 | +€345 | +0.1% |
| Deferred charges and accrued income | 490/1 | €1,889 | €2,773 | +€883 | +46.8% |
| Total equity and liabilities | 10/49 | €295,472 | €295,045 | -€427 | -0.1% |
| Equity | 10/15 | €219,429 | €33,149 | -€186,280 | -84.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €214,429 | €28,149 | -€186,280 | -86.9% |
| Distributable reserves | 133 | €214,429 | €28,149 | -€186,280 | -86.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €76,043 | €261,896 | +€185,853 | +244.4% |
| Amounts payable after more than one year | 17 | €9,932 | €0 | -€9,932 | -100.0% |
| Financial debts | 170/4 | €9,932 | €0 | -€9,932 | -100.0% |
| Amounts payable within one year | 42/48 | €66,111 | €261,896 | +€195,785 | +296.1% |
| Current portion of amounts payable after more than one year | 42 | €11,705 | €9,932 | -€1,773 | -15.1% |
| Trade debts | 44 | €1,180 | €57 | -€1,123 | -95.2% |
| Suppliers | 440/4 | €1,180 | €57 | -€1,123 | -95.2% |
| Taxes, remuneration and social security | 45 | €53,227 | €84,366 | +€31,139 | +58.5% |
| Taxes | 450/3 | €53,227 | €84,366 | +€31,139 | +58.5% |
| Other amounts payable | 47/48 | €0 | €167,542 | +€167,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,487 | €11,487 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,087 | €582 | -€504 | -46.4% |
| Gross operating margin | 9900 | €100,666 | €125,883 | +€25,218 | +25.1% |
| Operating profit (loss) | 9901 | €88,092 | €113,814 | +€25,722 | +29.2% |
| Financial income | 75/76B | €42 | €3 | -€38 | -92.6% |
| Recurring financial income | 75 | €42 | €3 | -€38 | -92.6% |
| Financial charges | 65/66B | €882 | €807 | -€75 | -8.5% |
| Recurring financial charges | 65 | €882 | €807 | -€75 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €87,252 | €113,010 | +€25,759 | +29.5% |
| Income taxes | 67/77 | €20,094 | €24,290 | +€4,196 | +20.9% |
| Profit (loss) for the period | 9904 | €67,158 | €88,720 | +€21,563 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €67,158 | €88,720 | +€21,563 | +32.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.