GERMED: 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.
GERMED
Largest movements
- Cash +€114,337
up €114,337 (+146.0%), from €78,323 to €192,660
mainly Net result for the year (+€103,612) and Deferred charges and accrued income (+€38,797)
- Deferred charges and accrued income -€38,797
down €38,797 (-41.6%), from €93,341 to €54,544
- Receivables within one year +€7,343
new in 2025: €7,343
- Profit (loss) carried forward +€103,612
up €103,612 (+78.5%), from €132,046 to €235,658
- Tax, wage and social debts -€13,471
down €13,471 (-65.8%), from €20,471 to €7,000
of which Taxes: -€17,471
- Accrued charges and deferred income -€6,488
down €6,488 (-47.3%), from €13,730 to €7,242
- Gross operating margin +€23,962
up €23,962 (+21.9%), from €109,171 to €133,133
- Taxes +€6,186
up €6,186 (+27.5%), from €22,471 to €28,657
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 | €172,606 | €255,056 | +€82,450 | +47.8% |
| Fixed assets | 21/28 | €943 | €510 | -€433 | -45.9% |
| Tangible fixed assets | 22/27 | €852 | €419 | -€433 | -50.8% |
| Furniture and vehicles | 24 | €852 | €419 | -€433 | -50.8% |
| Financial fixed assets | 28 | €91 | €91 | = | 0.0% |
| Current assets | 29/58 | €171,664 | €254,547 | +€82,883 | +48.3% |
| Amounts receivable within one year | 40/41 | - | €7,343 | +€7,343 | |
| Other amounts receivable | 41 | - | €7,343 | +€7,343 | |
| Cash at bank and in hand | 54/58 | €78,323 | €192,660 | +€114,337 | +146.0% |
| Deferred charges and accrued income | 490/1 | €93,341 | €54,544 | -€38,797 | -41.6% |
| Total equity and liabilities | 10/49 | €172,606 | €255,056 | +€82,450 | +47.8% |
| Equity | 10/15 | €134,046 | €237,658 | +€103,612 | +77.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,046 | €235,658 | +€103,612 | +78.5% |
| Amounts payable | 17/49 | €38,561 | €17,399 | -€21,162 | -54.9% |
| Amounts payable within one year | 42/48 | €24,831 | €10,157 | -€14,674 | -59.1% |
| Trade debts | 44 | €4,323 | €2,108 | -€2,215 | -51.2% |
| Suppliers | 440/4 | €4,323 | €2,108 | -€2,215 | -51.2% |
| Taxes, remuneration and social security | 45 | €20,471 | €7,000 | -€13,471 | -65.8% |
| Taxes | 450/3 | €17,471 | - | -€17,471 | |
| Remuneration and social security | 454/9 | €3,000 | €7,000 | +€4,000 | +133.3% |
| Other amounts payable | 47/48 | €37 | €1,049 | +€1,012 | +2764.9% |
| Accrued charges and deferred income | 492/3 | €13,730 | €7,242 | -€6,488 | -47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €433 | €433 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €109,171 | €133,133 | +€23,962 | +21.9% |
| Operating profit (loss) | 9901 | €108,353 | €132,313 | +€23,959 | +22.1% |
| Financial charges | 65/66B | €33 | €44 | +€11 | +33.8% |
| Recurring financial charges | 65 | €33 | €44 | +€11 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €108,321 | €132,269 | +€23,948 | +22.1% |
| Income taxes | 67/77 | €22,471 | €28,657 | +€6,186 | +27.5% |
| Profit (loss) for the period | 9904 | €85,850 | €103,612 | +€17,762 | +20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €85,850 | €103,612 | +€17,762 | +20.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.