GERDIM: 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.
GERDIM
Largest movements
- Cash +€14,517
up €14,517 (+8.2%), from €176,361 to €190,878
mainly Other debts (+€210,002) and Depreciation (+€14,510)
- Tangible fixed assets -€14,510
down €14,510 (-6.3%), from €229,110 to €214,599
of which Land and buildings: -€14,510
- Receivables within one year -€6,660
down €6,660 (-69.0%), from €9,652 to €2,992
of which Trade receivables: -€7,846
- Reserves -€256,512
down €256,512 (-90.1%), from €284,753 to €28,241
- Other debts +€210,002
up €210,002 (+795763.2%), from €26 to €210,028
- Profit (loss) carried forward +€40,794
no longer reported in 2025 (was -€40,794)
- Write-downs -€19,325
no longer reported in 2025 (was €19,325)
- Taxes -€3,125
down €3,125, from €884 to -€2,241
- Financial income -€1,940
down €1,940 (-65.9%), from €2,947 to €1,006
- Gross operating margin -€564
down €564 (-8.1%), from €6,998 to €6,434
- Financial charges -€272
down €272 (-90.0%), from €302 to €30
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 | €415,123 | €408,469 | -€6,653 | -1.6% |
| Fixed assets | 21/28 | €229,110 | €214,599 | -€14,510 | -6.3% |
| Tangible fixed assets | 22/27 | €229,110 | €214,599 | -€14,510 | -6.3% |
| Land and buildings | 22 | €229,110 | €214,599 | -€14,510 | -6.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | 0.0% |
| Current assets | 29/58 | €186,013 | €193,870 | +€7,857 | +4.2% |
| Amounts receivable within one year | 40/41 | €9,652 | €2,992 | -€6,660 | -69.0% |
| Trade receivables | 40 | €9,496 | €1,650 | -€7,846 | -82.6% |
| Other amounts receivable | 41 | €156 | €1,342 | +€1,186 | +759.1% |
| Cash at bank and in hand | 54/58 | €176,361 | €190,878 | +€14,517 | +8.2% |
| Total equity and liabilities | 10/49 | €415,123 | €408,469 | -€6,653 | -1.6% |
| Equity | 10/15 | €412,920 | €197,202 | -€215,718 | -52.2% |
| Contributions | 10/11 | €168,961 | €168,961 | = | 0.0% |
| Reserves | 13 | €284,753 | €28,241 | -€256,512 | -90.1% |
| Distributable reserves | 133 | €284,753 | €28,241 | -€256,512 | -90.1% |
| Profit (loss) carried forward | 14 | -€40,794 | - | +€40,794 | |
| Amounts payable | 17/49 | €2,202 | €211,267 | +€209,065 | +9492.3% |
| Amounts payable within one year | 42/48 | €2,202 | €211,267 | +€209,065 | +9492.3% |
| Trade debts | 44 | €819 | €1,239 | +€420 | +51.2% |
| Suppliers | 440/4 | €819 | €1,239 | +€420 | +51.2% |
| Taxes, remuneration and social security | 45 | €1,357 | - | -€1,357 | |
| Taxes | 450/3 | €1,357 | - | -€1,357 | |
| Other amounts payable | 47/48 | €26 | €210,028 | +€210,002 | +795763.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,750 | €14,510 | -€240 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,325 | - | -€19,325 | |
| Other operating charges | 640/8 | €1,054 | €857 | -€197 | -18.7% |
| Gross operating margin | 9900 | €6,998 | €6,434 | -€564 | -8.1% |
| Operating profit (loss) | 9901 | -€28,131 | -€8,933 | +€19,198 | +68.2% |
| Financial income | 75/76B | €2,947 | €1,006 | -€1,940 | -65.9% |
| Recurring financial income | 75 | €2,947 | €1,006 | -€1,940 | -65.9% |
| Financial charges | 65/66B | €302 | €30 | -€272 | -90.0% |
| Recurring financial charges | 65 | €302 | €30 | -€272 | -90.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,486 | -€7,957 | +€17,529 | +68.8% |
| Income taxes | 67/77 | €884 | -€2,241 | -€3,125 | |
| Profit (loss) for the period | 9904 | -€26,370 | -€5,716 | +€20,654 | +78.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,370 | -€5,716 | +€20,654 | +78.3% |
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 8 October 2026 via checked.be.