GERMAIN-GENNART: what changed
GERMAIN-GENNART
Largest movements
- Cash -€479,737
down €479,737 (-82.5%), from €581,786 to €102,049
mainly Current investments (-€400,402) and Contributions, distributions and other (-€97,100)
- Current investments +€400,402
up €400,402 (+66.7%), from €600,000 to €1.0m
- Tangible fixed assets +€23,890
up €23,890 (+25.1%), from €95,245 to €119,135
of which Furniture and vehicles: +€23,490
- Tax, wage and social debts -€89,138
down €89,138 (-99.4%), from €89,693 to €555
- Reserves +€50,000
up €50,000 (+4.4%), from €1.1m to €1.2m
of which Distributable reserves: +€50,000
- Other debts -€27,755
down €27,755 (-23.1%), from €120,000 to €92,245
- Trade debts +€14,811
up €14,811 (+27.5%), from €53,827 to €68,637
- Gross operating margin -€386,815
down €386,815 (-63.4%), from €609,740 to €222,924
- Taxes -€107,358
down €107,358 (-60.7%), from €176,866 to €69,508
- Financial income +€9,145
up €9,145 (+286%), from €3,202 to €12,347
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,410,655 | €1,358,672 | -€51,983 | -3.7% |
| Fixed assets | 21/28 | €101,495 | €125,385 | +€23,890 | +23.5% |
| Tangible fixed assets | 22/27 | €95,245 | €119,135 | +€23,890 | +25.1% |
| Plant, machinery and equipment | 23 | €1,217 | €1,617 | +€400 | +32.9% |
| Furniture and vehicles | 24 | €94,028 | €117,518 | +€23,490 | +25.0% |
| Financial fixed assets | 28 | €6,250 | €6,250 | = | 0.0% |
| Current assets | 29/58 | €1,309,161 | €1,233,287 | -€75,873 | -5.8% |
| Amounts receivable within one year | 40/41 | €119,330 | €123,772 | +€4,442 | +3.7% |
| Other amounts receivable | 41 | €119,330 | €123,772 | +€4,442 | +3.7% |
| Current investments | 50/53 | €600,000 | €1,000,402 | +€400,402 | +66.7% |
| Cash at bank and in hand | 54/58 | €581,786 | €102,049 | -€479,737 | -82.5% |
| Deferred charges and accrued income | 490/1 | €8,045 | €7,064 | -€980 | -12.2% |
| Total equity and liabilities | 10/49 | €1,410,655 | €1,358,672 | -€51,983 | -3.7% |
| Equity | 10/15 | €1,147,135 | €1,197,235 | +€50,099 | +4.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,140,460 | €1,190,460 | +€50,000 | +4.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,138,600 | €1,188,600 | +€50,000 | +4.4% |
| Profit (loss) carried forward | 14 | €475 | €575 | +€99 | +20.9% |
| Amounts payable | 17/49 | €263,520 | €161,437 | -€102,083 | -38.7% |
| Amounts payable within one year | 42/48 | €263,520 | €161,437 | -€102,083 | -38.7% |
| Trade debts | 44 | €53,827 | €68,637 | +€14,811 | +27.5% |
| Suppliers | 440/4 | €53,827 | €68,637 | +€14,811 | +27.5% |
| Taxes, remuneration and social security | 45 | €89,693 | €555 | -€89,138 | -99.4% |
| Taxes | 450/3 | €89,693 | €555 | -€89,138 | -99.4% |
| Other amounts payable | 47/48 | €120,000 | €92,245 | -€27,755 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,527 | €13,958 | +€5,431 | +63.7% |
| Other operating charges | 640/8 | €8,505 | €2,428 | -€6,077 | -71.5% |
| Non-recurring operating charges | 66A | - | €728 | +€728 | |
| Gross operating margin | 9900 | €609,740 | €222,924 | -€386,815 | -63.4% |
| Operating profit (loss) | 9901 | €592,708 | €205,810 | -€386,898 | -65.3% |
| Financial income | 75/76B | €3,202 | €12,347 | +€9,145 | +286% |
| Recurring financial income | 75 | €3,202 | €12,347 | +€9,145 | +286% |
| Financial charges | 65/66B | €2,789 | €1,450 | -€1,339 | -48.0% |
| Recurring financial charges | 65 | €2,789 | €1,450 | -€1,339 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €593,121 | €216,707 | -€376,414 | -63.5% |
| Income taxes | 67/77 | €176,866 | €69,508 | -€107,358 | -60.7% |
| Profit (loss) for the period | 9904 | €416,255 | €147,199 | -€269,056 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €416,255 | €147,199 | -€269,056 | -64.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.