germaine: 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.
germaine
Largest movements
- Cash -€42,498
down €42,498 (-77.3%), from €54,952 to €12,453
mainly Other debts (-€24,966) and Receivables within one year (-€14,894)
- Receivables within one year +€14,894
up €14,894 (+133%), from €11,230 to €26,125
of which Trade receivables: +€9,831
- Tangible fixed assets +€964
up €964 (+18.8%), from €5,118 to €6,082
- Other debts -€24,966
no longer reported in 2025 (was €24,966)
- Trade debts +€4,665
up €4,665 (+1,412%), from €330 to €4,996
- Profit (loss) carried forward -€3,815
new in 2025: -€3,815
- Accrued charges and deferred income -€3,070
no longer reported in 2025 (was €3,070)
- Write-downs +€11,361
new in 2025: €11,361
- Gross operating margin -€8,231
down €8,231 (-43.1%), from €19,115 to €10,884
- Taxes -€4,118
no longer reported in 2025 (was €4,118)
- Financial charges +€226
up €226 (+571%), from €40 to €265
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €71,300 | €44,660 | -€26,640 | -37.4% |
| Fixed assets | 21/28 | €5,118 | €6,082 | +€964 | +18.8% |
| Tangible fixed assets | 22/27 | €5,118 | €6,082 | +€964 | +18.8% |
| Furniture and vehicles | 24 | €5,118 | €6,082 | +€964 | +18.8% |
| Current assets | 29/58 | €66,182 | €38,578 | -€27,604 | -41.7% |
| Amounts receivable within one year | 40/41 | €11,230 | €26,125 | +€14,894 | +133% |
| Trade receivables | 40 | €8,848 | €18,679 | +€9,831 | +111% |
| Other amounts receivable | 41 | €2,382 | €7,445 | +€5,063 | +213% |
| Cash at bank and in hand | 54/58 | €54,952 | €12,453 | -€42,498 | -77.3% |
| Total equity and liabilities | 10/49 | €71,300 | €44,660 | -€26,640 | -37.4% |
| Equity | 10/15 | €33,318 | €29,503 | -€3,815 | -11.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €27,318 | €27,318 | = | 0.0% |
| Distributable reserves | 133 | €27,318 | €27,318 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,815 | -€3,815 | |
| Amounts payable | 17/49 | €37,981 | €15,157 | -€22,825 | -60.1% |
| Amounts payable within one year | 42/48 | €34,911 | €15,157 | -€19,755 | -56.6% |
| Trade debts | 44 | €330 | €4,996 | +€4,665 | +1,412% |
| Suppliers | 440/4 | €330 | €4,996 | +€4,665 | +1,412% |
| Taxes, remuneration and social security | 45 | €9,615 | €10,161 | +€546 | +5.7% |
| Taxes | 450/3 | €9,615 | €10,161 | +€546 | +5.7% |
| Other amounts payable | 47/48 | €24,966 | - | -€24,966 | |
| Accrued charges and deferred income | 492/3 | €3,070 | - | -€3,070 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,785 | €2,929 | +€144 | +5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,361 | +€11,361 | |
| Other operating charges | 640/8 | €327 | €144 | -€183 | -55.9% |
| Gross operating margin | 9900 | €19,115 | €10,884 | -€8,231 | -43.1% |
| Operating profit (loss) | 9901 | €16,003 | -€3,550 | -€19,553 | |
| Financial charges | 65/66B | €40 | €265 | +€226 | +571% |
| Recurring financial charges | 65 | €40 | €265 | +€226 | +571% |
| Profit (loss) for the period before taxes | 9903 | €15,963 | -€3,815 | -€19,778 | |
| Income taxes | 67/77 | €4,118 | - | -€4,118 | |
| Profit (loss) for the period | 9904 | €11,846 | -€3,815 | -€15,660 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,846 | -€3,815 | -€15,660 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.