GEREFA: 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.
GEREFA
Largest movements
- Receivables within one year -€4,738
down €4,738 (-21.2%), from €22,372 to €17,633
of which Trade receivables: -€4,493
- Profit (loss) carried forward -€5,551
down €5,551 (-11.9%), from -€46,505 to -€52,055
- Trade debts +€1,169
up €1,169 (+93.7%), from €1,247 to €2,416
- Accrued charges and deferred income -€387
down €387 (-86.2%), from €449 to €62
- Other operating charges +€4,444
up €4,444 (+869.1%), from €511 to €4,955
- Write-downs -€2,900
no longer reported in 2025 (was €2,900)
- Financial charges +€352
up €352 (+1162.0%), from €30 to €382
- Gross operating margin +€34
up €34 (+13.6%), from -€247 to -€214
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 | €22,596 | €17,869 | -€4,727 | -20.9% |
| Current assets | 29/58 | €22,596 | €17,869 | -€4,727 | -20.9% |
| Amounts receivable within one year | 40/41 | €22,372 | €17,633 | -€4,738 | -21.2% |
| Trade receivables | 40 | €21,808 | €17,315 | -€4,493 | -20.6% |
| Other amounts receivable | 41 | €563 | €318 | -€245 | -43.5% |
| Cash at bank and in hand | 54/58 | €225 | €236 | +€11 | +4.9% |
| Total equity and liabilities | 10/49 | €22,596 | €17,869 | -€4,727 | -20.9% |
| Equity | 10/15 | €17,796 | €12,246 | -€5,551 | -31.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €58,104 | €58,104 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €56,244 | €56,244 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,505 | -€52,055 | -€5,551 | -11.9% |
| Amounts payable | 17/49 | €4,800 | €5,624 | +€823 | +17.1% |
| Amounts payable within one year | 42/48 | €4,351 | €5,562 | +€1,211 | +27.8% |
| Trade debts | 44 | €1,247 | €2,416 | +€1,169 | +93.7% |
| Suppliers | 440/4 | €1,247 | €2,416 | +€1,169 | +93.7% |
| Other amounts payable | 47/48 | €3,104 | €3,146 | +€42 | +1.3% |
| Accrued charges and deferred income | 492/3 | €449 | €62 | -€387 | -86.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,900 | - | -€2,900 | |
| Other operating charges | 640/8 | €511 | €4,955 | +€4,444 | +869.1% |
| Gross operating margin | 9900 | -€247 | -€214 | +€34 | +13.6% |
| Operating profit (loss) | 9901 | -€3,659 | -€5,169 | -€1,510 | -41.3% |
| Financial charges | 65/66B | €30 | €382 | +€352 | +1162.0% |
| Recurring financial charges | 65 | €30 | €382 | +€352 | +1162.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,689 | -€5,551 | -€1,862 | -50.5% |
| Profit (loss) for the period | 9904 | -€3,689 | -€5,551 | -€1,862 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,689 | -€5,551 | -€1,862 | -50.5% |
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 28 September 2026 via checked.be.