GERKO: 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.
GERKO
Largest movements
- Receivables within one year +€27,799
up €27,799 (+24.5%), from €113,659 to €141,458
of which Trade receivables: +€28,251
- Profit (loss) carried forward -€232,323
down €232,323 (-86.8%), from -€267,500 to -€499,823
- Debts after one year +€99,903
up €99,903 (+18.9%), from €529,496 to €629,399
- Trade debts +€78,274
up €78,274 (+35.3%), from €221,984 to €300,258
- Current portion of long-term debt +€76,307
up €76,307 (+485.0%), from €15,734 to €92,041
- Financial charges -€478,812
down €478,812 (-90.5%), from €529,174 to €50,361
of which Non-recurring financial charges: -€491,484
- Gross operating margin -€96,772
down €96,772, from €33,141 to -€63,631
- Staff costs -€37,396
down €37,396 (-29.6%), from €126,307 to €88,911
- Financial income -€2,285
down €2,285 (-61.1%), from €3,738 to €1,452
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 | €2,137,582 | €2,160,809 | +€23,226 | +1.1% |
| Fixed assets | 21/28 | €1,161,561 | €1,144,731 | -€16,830 | -1.4% |
| Tangible fixed assets | 22/27 | €1,161,561 | €1,144,731 | -€16,830 | -1.4% |
| Land and buildings | 22 | €1,099,633 | €1,099,267 | -€367 | 0.0% |
| Plant, machinery and equipment | 23 | €38,630 | €30,001 | -€8,628 | -22.3% |
| Furniture and vehicles | 24 | €23,298 | €15,463 | -€7,835 | -33.6% |
| Current assets | 29/58 | €976,021 | €1,016,077 | +€40,056 | +4.1% |
| Stocks and contracts in progress | 3 | €830,670 | €850,360 | +€19,690 | +2.4% |
| Stocks | 30/36 | €830,670 | €850,360 | +€19,690 | +2.4% |
| Amounts receivable within one year | 40/41 | €113,659 | €141,458 | +€27,799 | +24.5% |
| Trade receivables | 40 | €109,072 | €137,323 | +€28,251 | +25.9% |
| Other amounts receivable | 41 | €4,587 | €4,135 | -€452 | -9.8% |
| Cash at bank and in hand | 54/58 | €30,911 | €24,260 | -€6,652 | -21.5% |
| Deferred charges and accrued income | 490/1 | €781 | - | -€781 | |
| Total equity and liabilities | 10/49 | €2,137,582 | €2,160,809 | +€23,226 | +1.1% |
| Equity | 10/15 | €967,160 | €734,838 | -€232,323 | -24.0% |
| Contributions | 10/11 | €169,000 | €169,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,016,039 | €1,016,039 | = | 0.0% |
| Reserves | 13 | €49,622 | €49,622 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,385 | €12,385 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,385 | €12,385 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,237 | €37,237 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€267,500 | -€499,823 | -€232,323 | -86.8% |
| Amounts payable | 17/49 | €1,170,422 | €1,425,971 | +€255,549 | +21.8% |
| Amounts payable after more than one year | 17 | €529,496 | €629,399 | +€99,903 | +18.9% |
| Financial debts | 170/4 | €529,496 | €629,399 | +€99,903 | +18.9% |
| Amounts payable within one year | 42/48 | €640,423 | €796,572 | +€156,149 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | €15,734 | €92,041 | +€76,307 | +485.0% |
| Financial debts | 43 | €395,000 | €395,000 | = | 0.0% |
| Credit institutions | 430/8 | €395,000 | €395,000 | = | 0.0% |
| Trade debts | 44 | €221,984 | €300,258 | +€78,274 | +35.3% |
| Suppliers | 440/4 | €221,984 | €300,258 | +€78,274 | +35.3% |
| Taxes, remuneration and social security | 45 | €7,705 | €9,273 | +€1,567 | +20.3% |
| Remuneration and social security | 454/9 | €7,705 | €9,273 | +€1,567 | +20.3% |
| Accrued charges and deferred income | 492/3 | €502 | - | -€502 | |
| Non-recurring operating income | 76A | €5,647 | - | -€5,647 | |
| Remuneration, social security and pensions | 62 | €126,307 | €88,911 | -€37,396 | -29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,370 | €16,830 | -€540 | -3.1% |
| Other operating charges | 640/8 | €13,942 | €14,041 | +€99 | +0.7% |
| Gross operating margin | 9900 | €33,141 | -€63,631 | -€96,772 | |
| Operating profit (loss) | 9901 | -€124,479 | -€183,414 | -€58,935 | -47.3% |
| Financial income | 75/76B | €3,738 | €1,452 | -€2,285 | -61.1% |
| Recurring financial income | 75 | €3,738 | €1,452 | -€2,285 | -61.1% |
| Financial charges | 65/66B | €529,174 | €50,361 | -€478,812 | -90.5% |
| Recurring financial charges | 65 | €37,689 | €50,361 | +€12,672 | +33.6% |
| Non-recurring financial charges | 66B | €491,484 | - | -€491,484 | |
| Profit (loss) for the period before taxes | 9903 | -€649,915 | -€232,323 | +€417,592 | +64.3% |
| Profit (loss) for the period | 9904 | -€649,915 | -€232,323 | +€417,592 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€649,915 | -€232,323 | +€417,592 | +64.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.