Gerluk: 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.
Gerluk
Largest movements
- Stocks and contracts +€22,400
up €22,400 (+814.5%), from €2,750 to €25,150
- Receivables within one year +€11,655
up €11,655 (+72.3%), from €16,124 to €27,780
of which Trade receivables: +€11,038
- Cash -€7,893
down €7,893 (-65.8%), from €12,000 to €4,107
mainly Stocks and contracts (-€22,400) and Receivables within one year (-€11,655)
- Tangible fixed assets -€6,280
down €6,280 (-12.1%), from €52,067 to €45,787
of which Plant, machinery and equipment: -€7,355
- Financial fixed assets +€4,063
up €4,063 (+1805.6%), from €225 to €4,288
- Trade debts +€21,782
up €21,782 (+108.7%), from €20,043 to €41,825
- Debts after one year -€8,677
down €8,677 (-22.9%), from €37,862 to €29,186
- Profit (loss) carried forward +€6,130
up €6,130 (+20.5%), from -€29,941 to -€23,810
- Accrued charges and deferred income +€3,904
up €3,904 (+2764.5%), from €141 to €4,045
- Other debts -€1,681
down €1,681 (-6.4%), from €26,241 to €24,559
- Gross operating margin +€23,709
up €23,709 (+1624.3%), from €1,460 to €25,168
- Depreciation +€11,616
up €11,616 (+1209.5%), from €960 to €12,577
- Other operating charges +€4,437
up €4,437 (+596.8%), from €743 to €5,181
- Financial charges -€467
down €467 (-20.0%), from €2,334 to €1,867
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 | €98,080 | €120,525 | +€22,445 | +22.9% |
| Fixed assets | 21/28 | €67,206 | €63,488 | -€3,718 | -5.5% |
| Intangible fixed assets | 21 | €14,914 | €13,414 | -€1,500 | -10.1% |
| Tangible fixed assets | 22/27 | €52,067 | €45,787 | -€6,280 | -12.1% |
| Plant, machinery and equipment | 23 | €50,087 | €42,731 | -€7,355 | -14.7% |
| Furniture and vehicles | 24 | €319 | €1,562 | +€1,243 | +389.9% |
| Other tangible fixed assets | 26 | €1,662 | €1,494 | -€168 | -10.1% |
| Financial fixed assets | 28 | €225 | €4,288 | +€4,063 | +1805.6% |
| Current assets | 29/58 | €30,874 | €57,037 | +€26,162 | +84.7% |
| Stocks and contracts in progress | 3 | €2,750 | €25,150 | +€22,400 | +814.5% |
| Stocks | 30/36 | €2,750 | €25,150 | +€22,400 | +814.5% |
| Amounts receivable within one year | 40/41 | €16,124 | €27,780 | +€11,655 | +72.3% |
| Trade receivables | 40 | €5,203 | €16,241 | +€11,038 | +212.1% |
| Other amounts receivable | 41 | €10,921 | €11,539 | +€618 | +5.7% |
| Cash at bank and in hand | 54/58 | €12,000 | €4,107 | -€7,893 | -65.8% |
| Total equity and liabilities | 10/49 | €98,080 | €120,525 | +€22,445 | +22.9% |
| Equity | 10/15 | €5,059 | €11,190 | +€6,130 | +121.2% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,941 | -€23,810 | +€6,130 | +20.5% |
| Amounts payable | 17/49 | €93,021 | €109,335 | +€16,314 | +17.5% |
| Amounts payable after more than one year | 17 | €37,862 | €29,186 | -€8,677 | -22.9% |
| Financial debts | 170/4 | €37,862 | €29,186 | -€8,677 | -22.9% |
| Amounts payable within one year | 42/48 | €55,017 | €76,104 | +€21,087 | +38.3% |
| Current portion of amounts payable after more than one year | 42 | €7,638 | €8,677 | +€1,039 | +13.6% |
| Trade debts | 44 | €20,043 | €41,825 | +€21,782 | +108.7% |
| Suppliers | 440/4 | €20,043 | €41,825 | +€21,782 | +108.7% |
| Taxes, remuneration and social security | 45 | €1,096 | €1,044 | -€52 | -4.8% |
| Taxes | 450/3 | €1,096 | €1,044 | -€52 | -4.8% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €26,241 | €24,559 | -€1,681 | -6.4% |
| Accrued charges and deferred income | 492/3 | €141 | €4,045 | +€3,904 | +2764.5% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €960 | €12,577 | +€11,616 | +1209.5% |
| Other operating charges | 640/8 | €743 | €5,181 | +€4,437 | +596.8% |
| Gross operating margin | 9900 | €1,460 | €25,168 | +€23,709 | +1624.3% |
| Operating profit (loss) | 9901 | -€244 | €7,411 | +€7,655 | |
| Financial income | 75/76B | €512 | €587 | +€75 | +14.6% |
| Recurring financial income | 75 | €512 | €587 | +€75 | +14.6% |
| Financial charges | 65/66B | €2,334 | €1,867 | -€467 | -20.0% |
| Recurring financial charges | 65 | €2,334 | €1,867 | -€467 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,066 | €6,130 | +€8,196 | |
| Profit (loss) for the period | 9904 | -€2,066 | €6,130 | +€8,196 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,066 | €6,130 | +€8,196 |
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 5 October 2026 via checked.be.