GERGO: 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.
GERGO
Largest movements
- Deferred charges and accrued income -€9,277
down €9,277 (-19.5%), from €47,671 to €38,394
- Tangible fixed assets -€8,307
down €8,307 (-42.6%), from €19,482 to €11,175
of which Furniture and vehicles: -€8,228
- Receivables within one year +€6,394
up €6,394 (+15.1%), from €42,227 to €48,620
of which Trade receivables: +€4,991
- Cash -€4,657
down €4,657 (-16.7%), from €27,846 to €23,189
mainly Tax, wage and social debts (-€9,747) and Trade debts (-€9,115)
- Reserves +€12,567
up €12,567 (+195%), from €6,446 to €19,014
- Tax, wage and social debts -€9,747
down €9,747 (-16.2%), from €60,287 to €50,540
of which Taxes: -€7,612
- Trade debts -€9,115
down €9,115 (-73.7%), from €12,376 to €3,261
- Other debts -€8,864
down €8,864 (-19.7%), from €44,928 to €36,064
- Gross operating margin +€29,319
up €29,319 (+12.9%), from €227,341 to €256,659
- Staff costs +€7,606
up €7,606 (+3.8%), from €202,284 to €209,890
- Depreciation +€6,726
up €6,726 (+154%), from €4,371 to €11,098
- Financial charges +€3,447
up €3,447 (+63.6%), from €5,421 to €8,868
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 | €137,226 | €121,379 | -€15,847 | -11.5% |
| Fixed assets | 21/28 | €19,482 | €11,175 | -€8,307 | -42.6% |
| Tangible fixed assets | 22/27 | €19,482 | €11,175 | -€8,307 | -42.6% |
| Plant, machinery and equipment | 23 | €4,938 | €4,859 | -€79 | -1.6% |
| Furniture and vehicles | 24 | €14,545 | €6,317 | -€8,228 | -56.6% |
| Current assets | 29/58 | €117,744 | €110,203 | -€7,541 | -6.4% |
| Amounts receivable within one year | 40/41 | €42,227 | €48,620 | +€6,394 | +15.1% |
| Trade receivables | 40 | €34,480 | €39,471 | +€4,991 | +14.5% |
| Other amounts receivable | 41 | €7,746 | €9,149 | +€1,403 | +18.1% |
| Cash at bank and in hand | 54/58 | €27,846 | €23,189 | -€4,657 | -16.7% |
| Deferred charges and accrued income | 490/1 | €47,671 | €38,394 | -€9,277 | -19.5% |
| Total equity and liabilities | 10/49 | €137,226 | €121,379 | -€15,847 | -11.5% |
| Equity | 10/15 | €18,946 | €31,514 | +€12,567 | +66.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €6,446 | €19,014 | +€12,567 | +195% |
| Distributable reserves | 133 | €6,446 | €19,014 | +€12,567 | +195% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €118,280 | €89,865 | -€28,415 | -24.0% |
| Amounts payable within one year | 42/48 | €117,591 | €89,865 | -€27,726 | -23.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €12,376 | €3,261 | -€9,115 | -73.7% |
| Suppliers | 440/4 | €12,376 | €3,261 | -€9,115 | -73.7% |
| Taxes, remuneration and social security | 45 | €60,287 | €50,540 | -€9,747 | -16.2% |
| Taxes | 450/3 | €34,165 | €26,553 | -€7,612 | -22.3% |
| Remuneration and social security | 454/9 | €26,122 | €23,986 | -€2,135 | -8.2% |
| Other amounts payable | 47/48 | €44,928 | €36,064 | -€8,864 | -19.7% |
| Accrued charges and deferred income | 492/3 | €688 | €0 | -€688 | -100% |
| Remuneration, social security and pensions | 62 | €202,284 | €209,890 | +€7,606 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,371 | €11,098 | +€6,726 | +154% |
| Other operating charges | 640/8 | €1,564 | €1,967 | +€403 | +25.8% |
| Gross operating margin | 9900 | €227,341 | €256,659 | +€29,319 | +12.9% |
| Operating profit (loss) | 9901 | €19,121 | €33,704 | +€14,583 | +76.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,421 | €8,868 | +€3,447 | +63.6% |
| Recurring financial charges | 65 | €5,421 | €8,868 | +€3,447 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €13,700 | €24,837 | +€11,137 | +81.3% |
| Income taxes | 67/77 | €7,254 | €6,270 | -€984 | -13.6% |
| Profit (loss) for the period | 9904 | €6,446 | €18,567 | +€12,121 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €6,446 | €18,567 | +€12,121 | +188% |
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 17 October 2026 via checked.be.