GÉRÉGRI: 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.
GÉRÉGRI
Largest movements
- Cash +€88,843
up €88,843 (+22.1%), from €402,029 to €490,871
mainly Net result for the year (+€146,161) and Advances received (+€80,341)
- Stocks and contracts +€26,328
up €26,328 (+95.0%), from €27,707 to €54,035
- Tangible fixed assets +€20,346
up €20,346 (+4.9%), from €415,164 to €435,510
of which Other tangible fixed assets: +€22,436
- Receivables within one year +€14,606
up €14,606 (+47.7%), from €30,614 to €45,219
of which Other amounts receivable: +€18,539
- Advances received +€80,341
up €80,341 (+70.1%), from €114,610 to €194,951
- Profit (loss) carried forward +€75,561
up €75,561 (+21.9%), from €345,431 to €420,992
- Gross operating margin -€18,716
down €18,716 (-4.2%), from €445,337 to €426,621
- Staff costs +€14,841
up €14,841 (+9.3%), from €160,114 to €174,955
- Taxes -€9,759
down €9,759 (-17.1%), from €57,025 to €47,266
- Depreciation +€4,748
up €4,748 (+10.0%), from €47,423 to €52,171
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €886,350 | €1,031,630 | +€145,280 | +16.4% |
| Fixed assets | 21/28 | €415,164 | €435,510 | +€20,346 | +4.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €415,164 | €435,510 | +€20,346 | +4.9% |
| Land and buildings | 22 | €293,210 | €281,450 | -€11,760 | -4.0% |
| Plant, machinery and equipment | 23 | €3,851 | €2,021 | -€1,831 | -47.5% |
| Furniture and vehicles | 24 | €62,898 | €74,399 | +€11,501 | +18.3% |
| Other tangible fixed assets | 26 | €55,204 | €77,640 | +€22,436 | +40.6% |
| Current assets | 29/58 | €471,186 | €596,120 | +€124,934 | +26.5% |
| Stocks and contracts in progress | 3 | €27,707 | €54,035 | +€26,328 | +95.0% |
| Stocks | 30/36 | €27,707 | €54,035 | +€26,328 | +95.0% |
| Amounts receivable within one year | 40/41 | €30,614 | €45,219 | +€14,606 | +47.7% |
| Trade receivables | 40 | €3,933 | - | -€3,933 | |
| Other amounts receivable | 41 | €26,680 | €45,219 | +€18,539 | +69.5% |
| Cash at bank and in hand | 54/58 | €402,029 | €490,871 | +€88,843 | +22.1% |
| Deferred charges and accrued income | 490/1 | €10,837 | €5,995 | -€4,843 | -44.7% |
| Total equity and liabilities | 10/49 | €886,350 | €1,031,630 | +€145,280 | +16.4% |
| Equity | 10/15 | €383,891 | €459,452 | +€75,561 | +19.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,860 | €19,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €345,431 | €420,992 | +€75,561 | +21.9% |
| Amounts payable | 17/49 | €502,459 | €572,178 | +€69,719 | +13.9% |
| Amounts payable after more than one year | 17 | €232,613 | €233,682 | +€1,069 | +0.5% |
| Financial debts | 170/4 | €232,613 | €233,682 | +€1,069 | +0.5% |
| Amounts payable within one year | 42/48 | €269,846 | €338,496 | +€68,650 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €47,320 | €46,949 | -€372 | -0.8% |
| Trade debts | 44 | €12,180 | €3,621 | -€8,559 | -70.3% |
| Suppliers | 440/4 | €12,180 | €3,621 | -€8,559 | -70.3% |
| Advances received on contracts in progress | 46 | €114,610 | €194,951 | +€80,341 | +70.1% |
| Taxes, remuneration and social security | 45 | €7,678 | €13,272 | +€5,594 | +72.9% |
| Taxes | 450/3 | €2,940 | €2,940 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,738 | €10,332 | +€5,594 | +118% |
| Other amounts payable | 47/48 | €88,058 | €79,703 | -€8,355 | -9.5% |
| Non-recurring operating income | 76A | - | €14,500 | +€14,500 | |
| Remuneration, social security and pensions | 62 | €160,114 | €174,955 | +€14,841 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,423 | €52,171 | +€4,748 | +10.0% |
| Other operating charges | 640/8 | €7,646 | €7,289 | -€357 | -4.7% |
| Gross operating margin | 9900 | €445,337 | €426,621 | -€18,716 | -4.2% |
| Operating profit (loss) | 9901 | €230,154 | €192,206 | -€37,948 | -16.5% |
| Financial income | 75/76B | €10,248 | €8,971 | -€1,277 | -12.5% |
| Recurring financial income | 75 | €10,248 | €8,971 | -€1,277 | -12.5% |
| Financial charges | 65/66B | €7,350 | €7,751 | +€401 | +5.5% |
| Recurring financial charges | 65 | €7,350 | €7,751 | +€401 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €233,052 | €193,427 | -€39,626 | -17.0% |
| Income taxes | 67/77 | €57,025 | €47,266 | -€9,759 | -17.1% |
| Profit (loss) for the period | 9904 | €176,028 | €146,161 | -€29,867 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €176,028 | €146,161 | -€29,867 | -17.0% |
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 22 October 2026 via checked.be.