Gerlach & Co: 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
Gerlach & Co
NACE 52.250, Logistics services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.6m-€354,641
Equity
€11.4m
2024 · €10.1m+€1.2m
Cash
€12.7m
2024 · €12.5m+€147,431
Balance sheet total
€16.7m
2024 · €15.4m+€1.3m
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+42.6%), from €2.8m to €4.0m
of which Trade receivables: +€1.2m
Equity and liabilities
- Profit (loss) carried forward +€1.2m
up €1.2m (+26.0%), from €4.7m to €6.0m
- Other debts +€549,634
up €549,634 (+21.6%), from €2.5m to €3.1m
- Trade debts -€491,038
down €491,038 (-35.8%), from €1.4m to €880,728
Income statement
- Staff costs +€453,313
up €453,313 (+13.3%), from €3.4m to €3.9m
- Turnover +€319,958
up €319,958 (+3.9%), from €8.2m to €8.6m
- Write-downs +€188,996
up €188,996, from -€99,892 to €89,104
- Financial income -€178,652
down €178,652 (-31.0%), from €576,400 to €397,749
- Taxes -€105,272
down €105,272 (-19.0%), from €553,484 to €448,213
of which Taxes: -€100,931
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
€1.6m
Turnover
+€319,958
Other operating income
-€16,473
Services and other goods
+€14,032
Staff costs
-€453,313
Depreciation
+€2,507
Write-downs
-€188,996
Provisions
-€23,442
Other operating charges
+€67,308
Other operating items
+€1,367
Financial income
-€178,652
Financial charges
-€4,208
Taxes
+€105,272
Result 2025
€1.2m
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
+€147,431
Investment
€0
Financing
€0
Cash 2024
€12.5m
From operations (derived)
+€147,431
Net result for the year
+€1.2m
Depreciation
+€26,073
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€2,001
Provisions
+€23,245
Trade debts
-€491,038
Tax, wage and social debts
-€8,025
Other debts
+€549,634
Cash 2025
€12.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,408,873 | €16,716,107 | +€1.3m | +8.5% |
| Fixed assets | 21/28 | €73,186 | €47,112 | -€26,073 | -35.6% |
| Tangible fixed assets | 22/27 | €73,186 | €47,112 | -€26,073 | -35.6% |
| Plant, machinery and equipment | 23 | €37,476 | €16,371 | -€21,105 | -56.3% |
| Furniture and vehicles | 24 | €35,710 | €30,741 | -€4,968 | -13.9% |
| Current assets | 29/58 | €15,335,687 | €16,668,995 | +€1.3m | +8.7% |
| Amounts receivable within one year | 40/41 | €2,790,394 | €3,978,272 | +€1.2m | +42.6% |
| Trade receivables | 40 | €2,763,354 | €3,972,504 | +€1.2m | +43.8% |
| Other amounts receivable | 41 | €27,039 | €5,768 | -€21,271 | -78.7% |
| Cash at bank and in hand | 54/58 | €12,539,283 | €12,686,714 | +€147,431 | +1.2% |
| Deferred charges and accrued income | 490/1 | €6,010 | €4,010 | -€2,001 | -33.3% |
| Total equity and liabilities | 10/49 | €15,408,873 | €16,716,107 | +€1.3m | +8.5% |
| Equity | 10/15 | €10,119,027 | €11,352,445 | +€1.2m | +12.2% |
| Contributions | 10/11 | €4,216,000 | €4,216,000 | = | 0.0% |
| Capital | 10 | €4,216,000 | €4,216,000 | = | 0.0% |
| Issued capital | 100 | €4,216,000 | €4,216,000 | = | 0.0% |
| Reserves | 13 | €1,153,394 | €1,153,394 | = | 0.0% |
| Non-distributable reserves | 130/1 | €428,545 | €428,545 | = | 0.0% |
| Legal reserve | 130 | €421,600 | €421,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,945 | €6,945 | = | 0.0% |
| Distributable reserves | 133 | €724,849 | €724,849 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,749,633 | €5,983,051 | +€1.2m | +26.0% |
| Provisions and deferred taxes | 16 | €776,297 | €799,542 | +€23,245 | +3.0% |
| Provisions for liabilities and charges | 160/5 | €776,297 | €799,542 | +€23,245 | +3.0% |
| Other liabilities and charges | 164/5 | €776,297 | €799,542 | +€23,245 | +3.0% |
| Amounts payable | 17/49 | €4,513,549 | €4,564,121 | +€50,572 | +1.1% |
| Amounts payable within one year | 42/48 | €4,513,549 | €4,564,121 | +€50,572 | +1.1% |
| Trade debts | 44 | €1,371,766 | €880,728 | -€491,038 | -35.8% |
| Suppliers | 440/4 | €1,371,766 | €880,728 | -€491,038 | -35.8% |
| Taxes, remuneration and social security | 45 | €600,086 | €592,061 | -€8,025 | -1.3% |
| Taxes | 450/3 | €104,865 | €56,084 | -€48,781 | -46.5% |
| Remuneration and social security | 454/9 | €495,221 | €535,977 | +€40,756 | +8.2% |
| Other amounts payable | 47/48 | €2,541,697 | €3,091,331 | +€549,634 | +21.6% |
| Operating income | 70/76A | €8,382,312 | €8,685,797 | +€303,485 | +3.6% |
| Turnover | 70 | €8,244,517 | €8,564,476 | +€319,958 | +3.9% |
| Other operating income | 74 | €137,795 | €121,322 | -€16,473 | -12.0% |
| Operating charges | 60/66A | €6,780,185 | €7,360,724 | +€580,539 | +8.6% |
| Services and other goods | 61 | €3,327,923 | €3,313,891 | -€14,032 | -0.4% |
| Remuneration, social security and pensions | 62 | €3,416,886 | €3,870,199 | +€453,313 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,580 | €26,073 | -€2,507 | -8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€99,892 | €89,104 | +€188,996 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€198 | €23,245 | +€23,442 | |
| Other operating charges | 640/8 | €105,519 | €38,211 | -€67,308 | -63.8% |
| Non-recurring operating charges | 66A | €1,367 | - | -€1,367 | |
| Operating profit (loss) | 9901 | €1,602,127 | €1,325,074 | -€277,053 | -17.3% |
| Financial income | 75/76B | €576,400 | €397,749 | -€178,652 | -31.0% |
| Recurring financial income | 75 | €576,400 | €397,749 | -€178,652 | -31.0% |
| Income from current assets | 751 | €576,400 | €397,722 | -€178,678 | -31.0% |
| Other financial income | 752/9 | - | €27 | +€27 | |
| Financial charges | 65/66B | €36,984 | €41,192 | +€4,208 | +11.4% |
| Recurring financial charges | 65 | €36,984 | €41,192 | +€4,208 | +11.4% |
| Debt charges | 650 | €28,925 | €34,577 | +€5,653 | +19.5% |
| Other financial charges | 652/9 | €8,060 | €6,615 | -€1,445 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €2,141,543 | €1,681,631 | -€459,912 | -21.5% |
| Income taxes | 67/77 | €553,484 | €448,213 | -€105,272 | -19.0% |
| Taxes | 670/3 | €557,872 | €456,941 | -€100,931 | -18.1% |
| Tax adjustments and reversals of tax provisions | 77 | €4,387 | €8,728 | +€4,341 | +98.9% |
| Profit (loss) for the period | 9904 | €1,588,059 | €1,233,418 | -€354,641 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,588,059 | €1,233,418 | -€354,641 | -22.3% |
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 18 October 2026 via checked.be.