GERLADE: what changed
Two fiscal 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.
GERLADE
Largest movements
- Current investments -€79,398
down €79,398 (-82.9%), from €95,814 to €16,416
- Cash -€31,273
down €31,273 (-92.9%), from €33,656 to €2,384
mainly Other debts (-€201,052) and Contributions, distributions and other (-€184,213)
- Receivables within one year +€24,137
new in 2025: €24,137
- Tangible fixed assets -€16,962
down €16,962 (-13.4%), from €126,247 to €109,285
of which Furniture and vehicles: -€10,746
- Other debts -€201,052
down €201,052 (-99.6%), from €201,885 to €833
- Reserves +€109,150
up €109,150 (+37.4%), from €292,155 to €401,305
- Current portion of long-term debt -€5,792
down €5,792 (-58.0%), from €9,983 to €4,191
- Gross operating margin -€18,405
down €18,405 (-4.3%), from €425,476 to €407,072
- Taxes -€4,915
down €4,915 (-5.0%), from €98,309 to €93,395
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 | €522,382 | €419,734 | -€102,648 | -19.7% |
| Fixed assets | 21/28 | €126,247 | €109,285 | -€16,962 | -13.4% |
| Tangible fixed assets | 22/27 | €126,247 | €109,285 | -€16,962 | -13.4% |
| Land and buildings | 22 | €96,748 | €91,021 | -€5,727 | -5.9% |
| Plant, machinery and equipment | 23 | €1,139 | €649 | -€490 | -43.0% |
| Furniture and vehicles | 24 | €28,361 | €17,615 | -€10,746 | -37.9% |
| Current assets | 29/58 | €396,135 | €310,449 | -€85,686 | -21.6% |
| Amounts receivable within one year | 40/41 | - | €24,137 | +€24,137 | |
| Other amounts receivable | 41 | - | €24,137 | +€24,137 | |
| Current investments | 50/53 | €95,814 | €16,416 | -€79,398 | -82.9% |
| Cash at bank and in hand | 54/58 | €33,656 | €2,384 | -€31,273 | -92.9% |
| Deferred charges and accrued income | 490/1 | €266,664 | €267,512 | +€848 | +0.3% |
| Total equity and liabilities | 10/49 | €522,382 | €419,734 | -€102,648 | -19.7% |
| Equity | 10/15 | €296,155 | €405,305 | +€109,150 | +36.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €292,155 | €401,305 | +€109,150 | +37.4% |
| Distributable reserves | 133 | €292,155 | €401,305 | +€109,150 | +37.4% |
| Amounts payable | 17/49 | €226,227 | €14,428 | -€211,799 | -93.6% |
| Amounts payable after more than one year | 17 | €4,191 | - | -€4,191 | |
| Financial debts | 170/4 | €4,191 | - | -€4,191 | |
| Amounts payable within one year | 42/48 | €221,095 | €11,696 | -€209,398 | -94.7% |
| Current portion of amounts payable after more than one year | 42 | €9,983 | €4,191 | -€5,792 | -58.0% |
| Trade debts | 44 | €2,267 | €2,766 | +€499 | +22.0% |
| Suppliers | 440/4 | €2,267 | €2,766 | +€499 | +22.0% |
| Taxes, remuneration and social security | 45 | €6,959 | €3,906 | -€3,053 | -43.9% |
| Taxes | 450/3 | €6,959 | €3,906 | -€3,053 | -43.9% |
| Other amounts payable | 47/48 | €201,885 | €833 | -€201,052 | -99.6% |
| Accrued charges and deferred income | 492/3 | €942 | €2,732 | +€1,791 | +190.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,767 | €17,571 | -€196 | -1.1% |
| Other operating charges | 640/8 | €804 | €700 | -€104 | -12.9% |
| Non-recurring operating charges | 66A | - | €933 | +€933 | |
| Gross operating margin | 9900 | €425,476 | €407,072 | -€18,405 | -4.3% |
| Operating profit (loss) | 9901 | €406,906 | €387,868 | -€19,038 | -4.7% |
| Financial income | 75/76B | €2,661 | €2,939 | +€278 | +10.4% |
| Recurring financial income | 75 | €2,661 | €2,939 | +€278 | +10.4% |
| Financial charges | 65/66B | €1,624 | €4,048 | +€2,424 | +149.3% |
| Recurring financial charges | 65 | €1,624 | €4,048 | +€2,424 | +149.3% |
| Profit (loss) for the period before taxes | 9903 | €407,943 | €386,759 | -€21,184 | -5.2% |
| Income taxes | 67/77 | €98,309 | €93,395 | -€4,915 | -5.0% |
| Profit (loss) for the period | 9904 | €309,634 | €293,364 | -€16,270 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €309,634 | €293,364 | -€16,270 | -5.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.