GERMABU: 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.
GERMABU
Largest movements
- Cash -€35,690
down €35,690 (-44.0%), from €81,067 to €45,377
mainly Contributions, distributions and other (-€201,162) and Investment in fixed assets (net) (-€27,500)
- Financial fixed assets +€27,500
up €27,500 (+110.0%), from €25,000 to €52,500
- Receivables within one year +€21,572
up €21,572 (+38.0%), from €56,737 to €78,309
of which Trade receivables: +€28,504
- Tangible fixed assets -€13,628
down €13,628 (-27.4%), from €49,773 to €36,146
- Profit (loss) carried forward -€159,648
down €159,648 (-79.4%), from €201,162 to €41,514
- Other debts +€148,644
up €148,644, from €0 to €148,644
- Tax, wage and social debts +€9,557
up €9,557 (+131.5%), from €7,270 to €16,827
- Financial income -€289,013
down €289,013 (-100.0%), from €289,013 to €0
- Gross operating margin +€42,859
up €42,859 (+151.0%), from €28,374 to €71,233
- Taxes +€4,599
up €4,599 (+43.1%), from €10,679 to €15,277
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 | €213,432 | €212,331 | -€1,101 | -0.5% |
| Fixed assets | 21/28 | €74,773 | €88,646 | +€13,872 | +18.6% |
| Tangible fixed assets | 22/27 | €49,773 | €36,146 | -€13,628 | -27.4% |
| Furniture and vehicles | 24 | €49,773 | €36,146 | -€13,628 | -27.4% |
| Financial fixed assets | 28 | €25,000 | €52,500 | +€27,500 | +110.0% |
| Current assets | 29/58 | €138,658 | €123,686 | -€14,973 | -10.8% |
| Amounts receivable within one year | 40/41 | €56,737 | €78,309 | +€21,572 | +38.0% |
| Trade receivables | 40 | €10,473 | €38,977 | +€28,504 | +272.2% |
| Other amounts receivable | 41 | €46,264 | €39,332 | -€6,932 | -15.0% |
| Cash at bank and in hand | 54/58 | €81,067 | €45,377 | -€35,690 | -44.0% |
| Deferred charges and accrued income | 490/1 | €854 | €0 | -€854 | -100.0% |
| Total equity and liabilities | 10/49 | €213,432 | €212,331 | -€1,101 | -0.5% |
| Equity | 10/15 | €206,162 | €46,514 | -€159,648 | -77.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €201,162 | €41,514 | -€159,648 | -79.4% |
| Amounts payable | 17/49 | €7,270 | €165,817 | +€158,547 | +2180.9% |
| Amounts payable within one year | 42/48 | €7,270 | €165,817 | +€158,547 | +2180.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €347 | +€347 | |
| Suppliers | 440/4 | €0 | €347 | +€347 | |
| Taxes, remuneration and social security | 45 | €7,270 | €16,827 | +€9,557 | +131.5% |
| Taxes | 450/3 | €7,270 | €16,827 | +€9,557 | +131.5% |
| Other amounts payable | 47/48 | €0 | €148,644 | +€148,644 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,434 | €13,628 | +€194 | +1.4% |
| Other operating charges | 640/8 | €568 | €694 | +€126 | +22.1% |
| Gross operating margin | 9900 | €28,374 | €71,233 | +€42,859 | +151.0% |
| Operating profit (loss) | 9901 | €14,372 | €56,911 | +€42,539 | +296.0% |
| Financial income | 75/76B | €289,013 | €0 | -€289,013 | -100.0% |
| Recurring financial income | 75 | €289,013 | €0 | -€289,013 | -100.0% |
| Financial charges | 65/66B | €110 | €120 | +€10 | +9.2% |
| Recurring financial charges | 65 | €110 | €120 | +€10 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €303,275 | €56,791 | -€246,484 | -81.3% |
| Income taxes | 67/77 | €10,679 | €15,277 | +€4,599 | +43.1% |
| Profit (loss) for the period | 9904 | €292,597 | €41,514 | -€251,083 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €292,597 | €41,514 | -€251,083 | -85.8% |
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 7 October 2026 via checked.be.