GERDYS: what changed
What changed
GERDYS
NACE 43.341, Painting of buildings
filed annual accounts (NBB)
Net result for the year
-€9,874
2024 · €51,427-€61,301
Equity
€265,483
2024 · €275,356-€9,874
Cash
€18,607
2024 · €13,672+€4,935
Balance sheet total
€853,458
2024 · €818,011+€35,447
Largest movements
Assets
- Tangible fixed assets +€158,790
up €158,790 (+32.1%), from €495,365 to €654,155
of which Land and buildings: +€104,424
- Receivables within one year -€147,407
down €147,407 (-54.8%), from €268,789 to €121,382
of which Trade receivables: -€164,630
- Stocks and contracts +€18,632
up €18,632 (+62.2%), from €29,937 to €48,569
Equity and liabilities
- Debts after one year +€51,806
up €51,806 (+20.8%), from €249,407 to €301,213
- Current portion of long-term debt +€25,490
up €25,490 (+60.6%), from €42,067 to €67,557
- Trade debts -€18,266
down €18,266 (-33.7%), from €54,176 to €35,910
- Short-term financial debts -€10,000
down €10,000 (-14.3%), from €70,000 to €60,000
- Profit (loss) carried forward -€9,874
new in 2025: -€9,874
Income statement
- Gross operating margin -€67,277
down €67,277 (-18.1%), from €371,701 to €304,424
- Taxes -€25,130
down €25,130 (-99.5%), from €25,245 to €115
- Depreciation +€17,325
up €17,325 (+34.3%), from €50,531 to €67,857
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€51,427
Gross operating margin
-€67,277
Staff costs
-€1,706
Depreciation
-€17,325
Other operating charges
+€260
Financial income
-€112
Financial charges
-€270
Taxes
+€25,130
Result 2025
-€9,874
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€164,285
Investment
-€226,646
Financing
+€67,296
Cash 2024
€13,672
From operations (derived)
+€164,285
Net result for the year
-€9,874
Depreciation
+€67,857
Stocks and contracts
-€18,632
Receivables within one year
+€147,407
Deferred charges and accrued income
-€498
Trade debts
-€18,266
Tax, wage and social debts
-€4,304
Other debts
+€595
Investment (derived)
-€226,646
Investment in fixed assets (net)
-€226,646
Financing
+€67,296
Debts after one year
+€51,806
Current portion of long-term debt
+€25,490
Short-term financial debts
-€10,000
Cash 2025
€18,607
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €818,011 | €853,458 | +€35,447 | +4.3% |
| Fixed assets | 21/28 | €496,640 | €655,430 | +€158,790 | +32.0% |
| Tangible fixed assets | 22/27 | €495,365 | €654,155 | +€158,790 | +32.1% |
| Land and buildings | 22 | €421,900 | €526,324 | +€104,424 | +24.8% |
| Plant, machinery and equipment | 23 | €45,644 | €46,667 | +€1,023 | +2.2% |
| Furniture and vehicles | 24 | €10,701 | €9,465 | -€1,236 | -11.6% |
| Leasing and similar rights | 25 | €17,119 | €71,698 | +€54,579 | +319% |
| Financial fixed assets | 28 | €1,275 | €1,275 | = | 0.0% |
| Current assets | 29/58 | €321,371 | €198,029 | -€123,342 | -38.4% |
| Stocks and contracts in progress | 3 | €29,937 | €48,569 | +€18,632 | +62.2% |
| Stocks | 30/36 | €29,937 | €48,569 | +€18,632 | +62.2% |
| Amounts receivable within one year | 40/41 | €268,789 | €121,382 | -€147,407 | -54.8% |
| Trade receivables | 40 | €258,668 | €94,038 | -€164,630 | -63.6% |
| Other amounts receivable | 41 | €10,121 | €27,344 | +€17,223 | +170% |
| Cash at bank and in hand | 54/58 | €13,672 | €18,607 | +€4,935 | +36.1% |
| Deferred charges and accrued income | 490/1 | €8,973 | €9,471 | +€498 | +5.6% |
| Total equity and liabilities | 10/49 | €818,011 | €853,458 | +€35,447 | +4.3% |
| Equity | 10/15 | €275,356 | €265,483 | -€9,874 | -3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €256,756 | €256,756 | = | 0.0% |
| Tax-exempt reserves | 132 | €319 | €319 | = | 0.0% |
| Distributable reserves | 133 | €256,437 | €256,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,874 | -€9,874 | |
| Provisions and deferred taxes | 16 | €24,031 | €24,031 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €24,031 | €24,031 | = | 0.0% |
| Environmental obligations | 163 | €24,031 | €24,031 | = | 0.0% |
| Amounts payable | 17/49 | €518,623 | €563,944 | +€45,321 | +8.7% |
| Amounts payable after more than one year | 17 | €249,407 | €301,213 | +€51,806 | +20.8% |
| Financial debts | 170/4 | €249,407 | €301,213 | +€51,806 | +20.8% |
| Amounts payable within one year | 42/48 | €269,216 | €262,731 | -€6,485 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €42,067 | €67,557 | +€25,490 | +60.6% |
| Financial debts | 43 | €70,000 | €60,000 | -€10,000 | -14.3% |
| Credit institutions | 430/8 | €70,000 | €60,000 | -€10,000 | -14.3% |
| Trade debts | 44 | €54,176 | €35,910 | -€18,266 | -33.7% |
| Suppliers | 440/4 | €54,176 | €35,910 | -€18,266 | -33.7% |
| Taxes, remuneration and social security | 45 | €10,792 | €6,487 | -€4,304 | -39.9% |
| Taxes | 450/3 | €5,312 | €452 | -€4,860 | -91.5% |
| Remuneration and social security | 454/9 | €5,480 | €6,035 | +€556 | +10.1% |
| Other amounts payable | 47/48 | €92,181 | €92,777 | +€595 | +0.6% |
| Non-recurring operating income | 76A | - | €1,653 | +€1,653 | |
| Remuneration, social security and pensions | 62 | €223,473 | €225,179 | +€1,706 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,531 | €67,857 | +€17,325 | +34.3% |
| Other operating charges | 640/8 | €6,460 | €6,200 | -€260 | -4.0% |
| Gross operating margin | 9900 | €371,701 | €304,424 | -€67,277 | -18.1% |
| Operating profit (loss) | 9901 | €91,236 | €5,188 | -€86,048 | -94.3% |
| Financial income | 75/76B | €112 | - | -€112 | |
| Recurring financial income | 75 | €112 | - | -€112 | |
| Financial charges | 65/66B | €14,677 | €14,947 | +€270 | +1.8% |
| Recurring financial charges | 65 | €14,677 | €14,947 | +€270 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €76,672 | -€9,759 | -€86,431 | |
| Income taxes | 67/77 | €25,245 | €115 | -€25,130 | -99.5% |
| Profit (loss) for the period | 9904 | €51,427 | -€9,874 | -€61,301 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,427 | -€9,874 | -€61,301 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.