GERMIJO: 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.
GERMIJO
Largest movements
- Cash +€38,165
up €38,165 (+36.6%), from €104,191 to €142,356
mainly Net result for the year (+€33,394) and Depreciation (+€30,947)
- Tangible fixed assets -€30,947
down €30,947 (-6.2%), from €500,774 to €469,827
of which Land and buildings: -€18,412
- Reserves +€33,394
up €33,394 (+6.4%), from €524,498 to €557,892
of which Distributable reserves: +€37,764
- Other debts -€13,305
no longer reported in 2025 (was €13,305)
- Depreciation +€8,042
up €8,042 (+35.1%), from €22,905 to €30,947
- Gross operating margin -€3,196
down €3,196 (-4.4%), from €72,488 to €69,291
- Other operating charges -€1,629
down €1,629 (-39.4%), from €4,134 to €2,506
- Taxes -€871
down €871 (-18.0%), from €4,829 to €3,958
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 | €615,172 | €624,534 | +€9,362 | +1.5% |
| Fixed assets | 21/28 | €500,774 | €469,827 | -€30,947 | -6.2% |
| Tangible fixed assets | 22/27 | €500,774 | €469,827 | -€30,947 | -6.2% |
| Land and buildings | 22 | €443,545 | €425,133 | -€18,412 | -4.2% |
| Furniture and vehicles | 24 | €57,229 | €44,693 | -€12,535 | -21.9% |
| Current assets | 29/58 | €114,398 | €154,707 | +€40,309 | +35.2% |
| Amounts receivable within one year | 40/41 | €8,831 | €10,322 | +€1,491 | +16.9% |
| Trade receivables | 40 | €8,741 | €8,241 | -€499 | -5.7% |
| Other amounts receivable | 41 | €90 | €2,081 | +€1,990 | +2205.5% |
| Cash at bank and in hand | 54/58 | €104,191 | €142,356 | +€38,165 | +36.6% |
| Deferred charges and accrued income | 490/1 | €1,377 | €2,029 | +€652 | +47.4% |
| Total equity and liabilities | 10/49 | €615,172 | €624,534 | +€9,362 | +1.5% |
| Equity | 10/15 | €555,503 | €588,897 | +€33,394 | +6.0% |
| Contributions | 10/11 | €31,005 | €31,005 | = | 0.0% |
| Reserves | 13 | €524,498 | €557,892 | +€33,394 | +6.4% |
| Tax-exempt reserves | 132 | €85,594 | €81,223 | -€4,371 | -5.1% |
| Distributable reserves | 133 | €438,904 | €476,669 | +€37,764 | +8.6% |
| Provisions and deferred taxes | 16 | €28,531 | €27,074 | -€1,457 | -5.1% |
| Deferred taxes | 168 | €28,531 | €27,074 | -€1,457 | -5.1% |
| Amounts payable | 17/49 | €31,138 | €8,562 | -€22,575 | -72.5% |
| Amounts payable within one year | 42/48 | €24,853 | €5,702 | -€19,152 | -77.1% |
| Trade debts | 44 | €3,224 | €11 | -€3,213 | -99.7% |
| Suppliers | 440/4 | €3,224 | €11 | -€3,213 | -99.7% |
| Taxes, remuneration and social security | 45 | €8,325 | €5,691 | -€2,634 | -31.6% |
| Taxes | 450/3 | €7,325 | €5,691 | -€1,634 | -22.3% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €13,305 | - | -€13,305 | |
| Accrued charges and deferred income | 492/3 | €6,284 | €2,861 | -€3,424 | -54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,905 | €30,947 | +€8,042 | +35.1% |
| Other operating charges | 640/8 | €4,134 | €2,506 | -€1,629 | -39.4% |
| Gross operating margin | 9900 | €72,488 | €69,291 | -€3,196 | -4.4% |
| Operating profit (loss) | 9901 | €45,448 | €35,839 | -€9,610 | -21.1% |
| Financial income | 75/76B | €315 | €456 | +€141 | +44.8% |
| Recurring financial income | 75 | €315 | €456 | +€141 | +44.8% |
| Financial charges | 65/66B | €98 | €401 | +€303 | +308.8% |
| Recurring financial charges | 65 | €98 | €401 | +€303 | +308.8% |
| Profit (loss) for the period before taxes | 9903 | €45,666 | €35,894 | -€9,771 | -21.4% |
| Transfer from deferred taxes | 780 | €1,457 | €1,457 | = | 0.0% |
| Income taxes | 67/77 | €4,829 | €3,958 | -€871 | -18.0% |
| Profit (loss) for the period | 9904 | €42,294 | €33,394 | -€8,900 | -21.0% |
| Transfer from tax-exempt reserves | 789 | €4,371 | €4,371 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,664 | €37,764 | -€8,900 | -19.1% |
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 9 October 2026 via checked.be.