GERDES: 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.
GERDES
Largest movements
- Receivables within one year -€19,985
down €19,985 (-77.0%), from €25,943 to €5,958
of which Trade receivables: -€19,636
- Tangible fixed assets -€7,767
down €7,767 (-6.6%), from €117,903 to €110,137
of which Land and buildings: -€6,401
- Receivables after one year +€7,520
up €7,520 (+49.5%), from €15,180 to €22,700
- Cash +€4,940
up €4,940 (+54.3%), from €9,101 to €14,041
mainly Receivables within one year (+€19,985) and Depreciation (+€14,859)
- Reserves -€8,060
down €8,060 (-15.1%), from €53,427 to €45,367
of which Distributable reserves: -€8,060
- Debts after one year -€5,355
down €5,355 (-34.3%), from €15,589 to €10,235
- Gross operating margin +€7,363
up €7,363 (+23.4%), from €31,416 to €38,779
- Taxes +€1,527
up €1,527 (+42.9%), from €3,561 to €5,088
- Other operating charges -€1,101
down €1,101 (-19.6%), from €5,615 to €4,514
- Depreciation +€780
up €780 (+5.5%), from €14,078 to €14,859
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 | €172,035 | €156,741 | -€15,294 | -8.9% |
| Fixed assets | 21/28 | €117,928 | €110,161 | -€7,767 | -6.6% |
| Tangible fixed assets | 22/27 | €117,903 | €110,137 | -€7,767 | -6.6% |
| Land and buildings | 22 | €93,657 | €87,256 | -€6,401 | -6.8% |
| Plant, machinery and equipment | 23 | €4,484 | €6,745 | +€2,260 | +50.4% |
| Furniture and vehicles | 24 | €593 | €2,515 | +€1,922 | +324.2% |
| Leasing and similar rights | 25 | €19,169 | €13,620 | -€5,548 | -28.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €54,107 | €46,580 | -€7,527 | -13.9% |
| Amounts receivable after more than one year | 29 | €15,180 | €22,700 | +€7,520 | +49.5% |
| Other amounts receivable | 291 | €15,180 | €22,700 | +€7,520 | +49.5% |
| Stocks and contracts in progress | 3 | €3,250 | €3,426 | +€176 | +5.4% |
| Stocks | 30/36 | €3,250 | €3,426 | +€176 | +5.4% |
| Amounts receivable within one year | 40/41 | €25,943 | €5,958 | -€19,985 | -77.0% |
| Trade receivables | 40 | €25,474 | €5,838 | -€19,636 | -77.1% |
| Other amounts receivable | 41 | €469 | €120 | -€349 | -74.4% |
| Cash at bank and in hand | 54/58 | €9,101 | €14,041 | +€4,940 | +54.3% |
| Deferred charges and accrued income | 490/1 | €633 | €455 | -€178 | -28.1% |
| Total equity and liabilities | 10/49 | €172,035 | €156,741 | -€15,294 | -8.9% |
| Equity | 10/15 | €72,108 | €64,053 | -€8,055 | -11.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €53,427 | €45,367 | -€8,060 | -15.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,718 | €4,718 | = | 0.0% |
| Distributable reserves | 133 | €46,850 | €38,790 | -€8,060 | -17.2% |
| Profit (loss) carried forward | 14 | €89 | €94 | +€5 | +5.7% |
| Provisions and deferred taxes | 16 | €11,250 | €11,250 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €11,250 | €11,250 | = | 0.0% |
| Pensions and similar obligations | 160 | €11,250 | €11,250 | = | 0.0% |
| Amounts payable | 17/49 | €88,676 | €81,438 | -€7,239 | -8.2% |
| Amounts payable after more than one year | 17 | €15,589 | €10,235 | -€5,355 | -34.3% |
| Financial debts | 170/4 | €15,589 | €10,235 | -€5,355 | -34.3% |
| Amounts payable within one year | 42/48 | €73,087 | €71,203 | -€1,884 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €8,611 | €7,702 | -€909 | -10.6% |
| Trade debts | 44 | €8,419 | €8,057 | -€362 | -4.3% |
| Suppliers | 440/4 | €8,419 | €8,057 | -€362 | -4.3% |
| Taxes, remuneration and social security | 45 | €5,525 | €4,653 | -€872 | -15.8% |
| Taxes | 450/3 | €5,525 | €4,653 | -€872 | -15.8% |
| Other amounts payable | 47/48 | €50,532 | €50,791 | +€259 | +0.5% |
| Non-recurring operating income | 76A | - | €2,120 | +€2,120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,078 | €14,859 | +€780 | +5.5% |
| Other operating charges | 640/8 | €5,615 | €4,514 | -€1,101 | -19.6% |
| Gross operating margin | 9900 | €31,416 | €38,779 | +€7,363 | +23.4% |
| Operating profit (loss) | 9901 | €11,723 | €19,406 | +€7,683 | +65.5% |
| Financial income | 75/76B | €651 | €487 | -€164 | -25.3% |
| Recurring financial income | 75 | €651 | €487 | -€164 | -25.3% |
| Financial charges | 65/66B | €4,496 | €4,827 | +€331 | +7.4% |
| Recurring financial charges | 65 | €4,496 | €4,827 | +€331 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €7,878 | €15,066 | +€7,188 | +91.2% |
| Income taxes | 67/77 | €3,561 | €5,088 | +€1,527 | +42.9% |
| Profit (loss) for the period | 9904 | €4,317 | €9,978 | +€5,661 | +131.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,317 | €9,978 | +€5,661 | +131.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.