GerMar: 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.
GerMar
Largest movements
- Cash +€1,010
up €1,010 (+47.5%), from €2,126 to €3,136
mainly Depreciation (+€924) and Accrued charges and deferred income (+€184)
- Tangible fixed assets -€924
down €924 (-1.7%), from €53,052 to €52,127
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€388
down €388 (-13.1%), from €2,951 to €2,563
- Other operating charges +€179
up €179 (+14.0%), from €1,284 to €1,463
- Taxes -€138
down €138 (-84.1%), from €164 to €26
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 | €58,245 | €58,529 | +€284 | +0.5% |
| Fixed assets | 21/28 | €53,052 | €52,127 | -€924 | -1.7% |
| Tangible fixed assets | 22/27 | €53,052 | €52,127 | -€924 | -1.7% |
| Land and buildings | 22 | €53,052 | €52,127 | -€924 | -1.7% |
| Current assets | 29/58 | €5,193 | €6,402 | +€1,209 | +23.3% |
| Amounts receivable within one year | 40/41 | €2,061 | €2,061 | = | 0.0% |
| Other amounts receivable | 41 | €2,061 | €2,061 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,126 | €3,136 | +€1,010 | +47.5% |
| Deferred charges and accrued income | 490/1 | €1,007 | €1,205 | +€199 | +19.7% |
| Total equity and liabilities | 10/49 | €58,245 | €58,529 | +€284 | +0.5% |
| Equity | 10/15 | €57,241 | €57,320 | +€78 | +0.1% |
| Contributions | 10/11 | €11,222 | €11,222 | = | 0.0% |
| Reserves | 13 | €42,229 | €42,229 | = | 0.0% |
| Distributable reserves | 133 | €42,229 | €42,229 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,791 | €3,869 | +€78 | +2.1% |
| Amounts payable | 17/49 | €1,004 | €1,210 | +€206 | +20.5% |
| Amounts payable within one year | 42/48 | €217 | €239 | +€22 | +10.2% |
| Trade debts | 44 | - | €144 | +€144 | |
| Suppliers | 440/4 | - | €144 | +€144 | |
| Taxes, remuneration and social security | 45 | €217 | €95 | -€122 | -56.2% |
| Taxes | 450/3 | €217 | €95 | -€122 | -56.2% |
| Accrued charges and deferred income | 492/3 | €787 | €971 | +€184 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €925 | €924 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,284 | €1,463 | +€179 | +14.0% |
| Gross operating margin | 9900 | €2,951 | €2,563 | -€388 | -13.1% |
| Operating profit (loss) | 9901 | €742 | €175 | -€567 | -76.4% |
| Financial charges | 65/66B | €67 | €71 | +€5 | +6.8% |
| Recurring financial charges | 65 | €67 | €71 | +€5 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €676 | €104 | -€572 | -84.6% |
| Income taxes | 67/77 | €164 | €26 | -€138 | -84.1% |
| Profit (loss) for the period | 9904 | €512 | €78 | -€434 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €512 | €78 | -€434 | -84.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.