GEREFIS: what changed
Two financial 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.
What changed
GEREFIS
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.0m
2024 · €6.1m-€3.1m
Equity
€439.8m
2024 · €438.6m+€1.2m
Cash
€941,072
2024 · €558,713+€382,359
Balance sheet total
€443.8m
2024 · €442.2m+€1.7m
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€3.9m
down €3.9m (-70.4%), from €5.6m to €1.6m
- Turnover +€1.5m
up €1.5m (+100%), from €1.5m to €3.0m
- Taxes +€520,921
up €520,921 (+5,906%), from €8,821 to €529,741
- Services and other goods +€30,635
up €30,635 (+3.9%), from €795,534 to €826,169
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.
Result 2024
€6.1m
Turnover
+€1.5m
Other operating income
-€6,598
Services and other goods
-€30,635
Staff costs
-€13,745
Depreciation
-€6,769
Other operating charges
-€3,146
Other operating items
-€99,627
Financial income
-€3.9m
Financial charges
+€16,927
Taxes
-€520,921
Result 2025
€3.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€2.7m
Investment
-€87,870
Financing
-€2.2m
Cash 2024
€558,713
From operations (derived)
+€2.7m
Net result for the year
+€3.0m
Depreciation
+€258,195
Receivables within one year
-€1.5m
Deferred charges and accrued income
+€4,019
Trade debts
+€38,528
Tax, wage and social debts
+€492,427
Other debts
+€326,237
Accrued charges and deferred income
+€65,803
Investment (derived)
-€87,870
Investment in fixed assets (net)
-€135,734
Current investments
+€47,864
Financing
-€2.2m
Debts after one year
-€404,904
Contributions, distributions and other
-€1.8m
Cash 2025
€941,072
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €442,151,306 | €443,847,531 | +€1.7m | +0.4% |
| Fixed assets | 21/28 | €436,024,769 | €435,902,308 | -€122,460 | 0.0% |
| Tangible fixed assets | 22/27 | €7,275,001 | €7,152,541 | -€122,460 | -1.7% |
| Land and buildings | 22 | €6,073,323 | €5,945,552 | -€127,771 | -2.1% |
| Plant, machinery and equipment | 23 | €29,579 | €23,542 | -€6,037 | -20.4% |
| Furniture and vehicles | 24 | €29,358 | €43,691 | +€14,333 | +48.8% |
| Other tangible fixed assets | 26 | €1,121,257 | €1,139,756 | +€18,499 | +1.6% |
| Assets under construction and advance payments | 27 | €21,484 | - | -€21,484 | |
| Financial fixed assets | 28 | €428,749,768 | €428,749,768 | = | 0.0% |
| Affiliated companies | 280/1 | €428,660,440 | €428,660,440 | = | 0.0% |
| Participating interests | 280 | €428,660,440 | €428,660,440 | = | 0.0% |
| Other financial fixed assets | 284/8 | €89,327 | €89,327 | = | 0.0% |
| Shares | 284 | €89,277 | €89,277 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €6,126,537 | €7,945,222 | +€1.8m | +29.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €777,784 | €2,265,993 | +€1.5m | +191% |
| Trade receivables | 40 | €753,460 | €2,252,194 | +€1.5m | +199% |
| Other amounts receivable | 41 | €24,324 | €13,799 | -€10,526 | -43.3% |
| Current investments | 50/53 | €4,774,949 | €4,727,085 | -€47,864 | -1.0% |
| Other investments | 51/53 | €4,774,949 | €4,727,085 | -€47,864 | -1.0% |
| Cash at bank and in hand | 54/58 | €558,713 | €941,072 | +€382,359 | +68.4% |
| Deferred charges and accrued income | 490/1 | €15,091 | €11,073 | -€4,019 | -26.6% |
| Total equity and liabilities | 10/49 | €442,151,306 | €443,847,531 | +€1.7m | +0.4% |
| Equity | 10/15 | €438,619,991 | €439,798,124 | +€1.2m | +0.3% |
| Contributions | 10/11 | €35,544,312 | €35,544,312 | = | 0.0% |
| Capital | 10 | €35,544,312 | €35,544,312 | = | 0.0% |
| Issued capital | 100 | €35,544,312 | €35,544,312 | = | 0.0% |
| Reserves | 13 | €192,542,874 | €192,542,874 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,554,431 | €3,554,431 | = | 0.0% |
| Legal reserve | 130 | €3,554,431 | €3,554,431 | = | 0.0% |
| Distributable reserves | 133 | €188,988,442 | €188,988,442 | = | 0.0% |
| Profit (loss) carried forward | 14 | €210,532,806 | €211,710,939 | +€1.2m | +0.6% |
| Amounts payable | 17/49 | €3,531,315 | €4,049,407 | +€518,091 | +14.7% |
| Amounts payable after more than one year | 17 | €1,080,761 | €675,857 | -€404,904 | -37.5% |
| Financial debts | 170/4 | €1,080,761 | €675,857 | -€404,904 | -37.5% |
| Other loans | 174 | €1,080,761 | €675,857 | -€404,904 | -37.5% |
| Amounts payable within one year | 42/48 | €2,355,428 | €3,212,620 | +€857,192 | +36.4% |
| Trade debts | 44 | €50,735 | €89,262 | +€38,528 | +75.9% |
| Suppliers | 440/4 | €50,735 | €89,262 | +€38,528 | +75.9% |
| Taxes, remuneration and social security | 45 | €65,830 | €558,257 | +€492,427 | +748% |
| Taxes | 450/3 | €61,077 | €552,376 | +€491,299 | +804% |
| Remuneration and social security | 454/9 | €4,753 | €5,882 | +€1,128 | +23.7% |
| Other amounts payable | 47/48 | €2,238,864 | €2,565,101 | +€326,237 | +14.6% |
| Accrued charges and deferred income | 492/3 | €95,126 | €160,929 | +€65,803 | +69.2% |
| Operating income | 70/76A | €1,756,426 | €3,125,120 | +€1.4m | +77.9% |
| Turnover | 70 | €1,475,839 | €2,951,819 | +€1.5m | +100% |
| Other operating income | 74 | €166,898 | €160,300 | -€6,598 | -4.0% |
| Non-recurring operating income | 76A | €113,689 | €13,000 | -€100,689 | -88.6% |
| Operating charges | 60/66A | €1,129,511 | €1,182,744 | +€53,234 | +4.7% |
| Services and other goods | 61 | €795,534 | €826,169 | +€30,635 | +3.9% |
| Remuneration, social security and pensions | 62 | €63,954 | €77,698 | +€13,745 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €251,426 | €258,195 | +€6,769 | +2.7% |
| Other operating charges | 640/8 | €17,536 | €20,682 | +€3,146 | +17.9% |
| Non-recurring operating charges | 66A | €1,061 | - | -€1,061 | |
| Operating profit (loss) | 9901 | €626,916 | €1,942,375 | +€1.3m | +210% |
| Financial income | 75/76B | €5,566,500 | €1,648,782 | -€3.9m | -70.4% |
| Recurring financial income | 75 | €5,566,500 | €1,648,782 | -€3.9m | -70.4% |
| Income from financial fixed assets | 750 | €4,984,000 | €1,450,000 | -€3.5m | -70.9% |
| Income from current assets | 751 | €74,854 | €115,865 | +€41,011 | +54.8% |
| Other financial income | 752/9 | €507,646 | €82,918 | -€424,728 | -83.7% |
| Financial charges | 65/66B | €119,973 | €103,046 | -€16,927 | -14.1% |
| Recurring financial charges | 65 | €119,973 | €103,046 | -€16,927 | -14.1% |
| Debt charges | 650 | €95,363 | €64,658 | -€30,705 | -32.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€10,730 | -€48,565 | -€37,834 | -353% |
| Other financial charges | 652/9 | €35,340 | €86,953 | +€51,613 | +146% |
| Profit (loss) for the period before taxes | 9903 | €6,073,443 | €3,488,112 | -€2.6m | -42.6% |
| Income taxes | 67/77 | €8,821 | €529,741 | +€520,921 | +5,906% |
| Taxes | 670/3 | €8,821 | €529,741 | +€520,921 | +5,906% |
| Profit (loss) for the period | 9904 | €6,064,622 | €2,958,370 | -€3.1m | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,064,622 | €2,958,370 | -€3.1m | -51.2% |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.