Germinal: 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.
Germinal
Largest movements
- Cash -€16,338
down €16,338 (-43.3%), from €37,768 to €21,430
mainly Provisions (-€49,697) and Net result for the year (-€12,015)
- Profit (loss) carried forward +€191,394
up €191,394, from -€87,784 to €103,610
- Reserves -€149,091
down €149,091 (-94.0%), from €158,571 to €9,480
of which Tax-exempt reserves: -€149,091
- Provisions -€49,697
no longer reported in 2025 (was €49,697)
- Debts after one year -€9,721
no longer reported in 2025 (was €9,721)
- Purchases and services -€9,002
no longer reported in 2025 (was €9,002)
- Turnover -€4,964
no longer reported in 2025 (was €4,964)
- Other operating charges +€1,353
up €1,353 (+554.5%), from €244 to €1,597
- Depreciation +€1,179
up €1,179 (+21.5%), from €5,493 to €6,672
- Gross operating margin +€336
up €336 (+8.3%), from -€4,037 to -€3,701
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 | €170,381 | €153,266 | -€17,115 | -10.0% |
| Fixed assets | 21/28 | €132,613 | €131,836 | -€777 | -0.6% |
| Tangible fixed assets | 22/27 | €132,613 | €131,836 | -€777 | -0.6% |
| Land and buildings | 22 | €132,613 | €131,836 | -€777 | -0.6% |
| Current assets | 29/58 | €37,768 | €21,430 | -€16,338 | -43.3% |
| Cash at bank and in hand | 54/58 | €37,768 | €21,430 | -€16,338 | -43.3% |
| Total equity and liabilities | 10/49 | €170,381 | €153,266 | -€17,115 | -10.0% |
| Equity | 10/15 | €110,963 | €153,266 | +€42,303 | +38.1% |
| Contributions | 10/11 | €40,176 | €40,176 | = | 0.0% |
| Reserves | 13 | €158,571 | €9,480 | -€149,091 | -94.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €149,091 | - | -€149,091 | |
| Distributable reserves | 133 | €7,625 | €7,625 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,784 | €103,610 | +€191,394 | |
| Provisions and deferred taxes | 16 | €49,697 | - | -€49,697 | |
| Deferred taxes | 168 | €49,697 | - | -€49,697 | |
| Amounts payable | 17/49 | €9,721 | - | -€9,721 | |
| Amounts payable after more than one year | 17 | €9,721 | - | -€9,721 | |
| Other amounts payable | 178/9 | €9,721 | - | -€9,721 | |
| Turnover | 70 | €4,964 | - | -€4,964 | |
| Non-recurring operating income | 76A | - | €5,100 | +€5,100 | |
| Goods, raw materials, services and sundry goods | 60/61 | €9,002 | - | -€9,002 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,493 | €6,672 | +€1,179 | +21.5% |
| Other operating charges | 640/8 | €244 | €1,597 | +€1,353 | +554.5% |
| Gross operating margin | 9900 | -€4,037 | -€3,701 | +€336 | +8.3% |
| Operating profit (loss) | 9901 | -€9,774 | -€11,970 | -€2,196 | -22.5% |
| Financial charges | 65/66B | €24 | €45 | +€21 | +87.5% |
| Recurring financial charges | 65 | €24 | €45 | +€21 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,798 | -€12,015 | -€2,217 | -22.6% |
| Profit (loss) for the period | 9904 | -€9,798 | -€12,015 | -€2,217 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,798 | -€12,015 | -€2,217 | -22.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.