GERIVAL: 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.
GERIVAL
Largest movements
- Receivables within one year +€680,000
up €680,000 (+170%), from €400,000 to €1.1m
- Tangible fixed assets -€164,983
down €164,983 (-17.7%), from €932,961 to €767,978
of which Land and buildings: -€85,203
- Reserves +€649,405
up €649,405 (+85.5%), from €759,656 to €1.4m
of which Distributable reserves: +€649,405
- Other debts -€100,000
down €100,000 (-25.0%), from €400,000 to €300,000
- Short-term financial debts -€30,008
down €30,008 (-19.0%), from €157,596 to €127,588
- Debts after one year -€25,706
down €25,706 (-13.2%), from €194,865 to €169,159
- Gross operating margin -€118,049
down €118,049 (-9.8%), from €1.2m to €1.1m
- Taxes -€28,511
down €28,511 (-11.6%), from €244,980 to €216,468
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 | €1,604,845 | €2,115,874 | +€511,029 | +31.8% |
| Fixed assets | 21/28 | €932,961 | €767,978 | -€164,983 | -17.7% |
| Tangible fixed assets | 22/27 | €932,961 | €767,978 | -€164,983 | -17.7% |
| Land and buildings | 22 | €523,120 | €437,917 | -€85,203 | -16.3% |
| Plant, machinery and equipment | 23 | €409,841 | €330,060 | -€79,780 | -19.5% |
| Current assets | 29/58 | €671,884 | €1,347,896 | +€676,012 | +101% |
| Amounts receivable within one year | 40/41 | €400,000 | €1,080,000 | +€680,000 | +170% |
| Other amounts receivable | 41 | €400,000 | €1,080,000 | +€680,000 | +170% |
| Cash at bank and in hand | 54/58 | €269,029 | €265,019 | -€4,010 | -1.5% |
| Deferred charges and accrued income | 490/1 | €2,855 | €2,877 | +€22 | +0.8% |
| Total equity and liabilities | 10/49 | €1,604,845 | €2,115,874 | +€511,029 | +31.8% |
| Equity | 10/15 | €821,656 | €1,471,061 | +€649,405 | +79.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €759,656 | €1,409,061 | +€649,405 | +85.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €753,456 | €1,402,861 | +€649,405 | +86.2% |
| Amounts payable | 17/49 | €783,189 | €644,813 | -€138,376 | -17.7% |
| Amounts payable after more than one year | 17 | €194,865 | €169,159 | -€25,706 | -13.2% |
| Financial debts | 170/4 | €194,865 | €169,159 | -€25,706 | -13.2% |
| Amounts payable within one year | 42/48 | €588,170 | €475,494 | -€112,676 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €25,617 | €25,706 | +€89 | +0.3% |
| Financial debts | 43 | €157,596 | €127,588 | -€30,008 | -19.0% |
| Credit institutions | 430/8 | €157,596 | €127,588 | -€30,008 | -19.0% |
| Trade debts | 44 | - | €775 | +€775 | |
| Suppliers | 440/4 | - | €775 | +€775 | |
| Taxes, remuneration and social security | 45 | €4,957 | €21,425 | +€16,468 | +332% |
| Taxes | 450/3 | €4,957 | €21,425 | +€16,468 | +332% |
| Other amounts payable | 47/48 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Accrued charges and deferred income | 492/3 | €154 | €160 | +€6 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193,088 | €195,076 | +€1,988 | +1.0% |
| Other operating charges | 640/8 | €19,106 | €19,706 | +€600 | +3.1% |
| Gross operating margin | 9900 | €1,207,596 | €1,089,547 | -€118,049 | -9.8% |
| Operating profit (loss) | 9901 | €995,401 | €874,765 | -€120,637 | -12.1% |
| Financial charges | 65/66B | €15,483 | €8,891 | -€6,592 | -42.6% |
| Recurring financial charges | 65 | €15,483 | €8,891 | -€6,592 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €979,919 | €865,873 | -€114,045 | -11.6% |
| Income taxes | 67/77 | €244,980 | €216,468 | -€28,511 | -11.6% |
| Profit (loss) for the period | 9904 | €734,939 | €649,405 | -€85,534 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €734,939 | €649,405 | -€85,534 | -11.6% |
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.