GERMIS: 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.
GERMIS
Largest movements
- Cash -€126,827
down €126,827 (-82.2%), from €154,224 to €27,397
mainly Other debts (-€120,142) and Contributions, distributions and other (-€63,263)
- Tangible fixed assets -€5,189
down €5,189 (-14.0%), from €36,954 to €31,765
of which Furniture and vehicles: -€8,363
- Receivables within one year +€3,019
up €3,019 (+19.4%), from €15,588 to €18,607
of which Trade receivables: +€1,671
- Other debts -€120,142
down €120,142 (-91.7%), from €130,969 to €10,827
- Reserves -€9,211
down €9,211 (-14.6%), from €63,263 to €54,051
- Gross operating margin -€9,305
down €9,305 (-10.4%), from €89,418 to €80,113
- Taxes -€2,217
down €2,217 (-14.0%), from €15,860 to €13,643
- Depreciation +€1,105
up €1,105 (+10.3%), from €10,681 to €11,785
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 | €207,195 | €78,277 | -€128,918 | -62.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €36,954 | €31,765 | -€5,189 | -14.0% |
| Tangible fixed assets | 22/27 | €36,954 | €31,765 | -€5,189 | -14.0% |
| Plant, machinery and equipment | 23 | - | €3,174 | +€3,174 | |
| Furniture and vehicles | 24 | €36,954 | €28,591 | -€8,363 | -22.6% |
| Current assets | 29/58 | €170,241 | €46,512 | -€123,729 | -72.7% |
| Amounts receivable within one year | 40/41 | €15,588 | €18,607 | +€3,019 | +19.4% |
| Trade receivables | 40 | €14,939 | €16,610 | +€1,671 | +11.2% |
| Other amounts receivable | 41 | €649 | €1,997 | +€1,348 | +207.8% |
| Cash at bank and in hand | 54/58 | €154,224 | €27,397 | -€126,827 | -82.2% |
| Deferred charges and accrued income | 490/1 | €428 | €507 | +€79 | +18.4% |
| Total equity and liabilities | 10/49 | €207,195 | €78,277 | -€128,918 | -62.2% |
| Equity | 10/15 | €66,263 | €57,051 | -€9,211 | -13.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €63,263 | €54,051 | -€9,211 | -14.6% |
| Distributable reserves | 133 | €63,263 | €54,051 | -€9,211 | -14.6% |
| Amounts payable | 17/49 | €140,932 | €21,225 | -€119,707 | -84.9% |
| Amounts payable within one year | 42/48 | €140,932 | €21,225 | -€119,707 | -84.9% |
| Trade debts | 44 | €72 | €1,001 | +€929 | +1294.5% |
| Suppliers | 440/4 | €72 | €1,001 | +€929 | +1294.5% |
| Taxes, remuneration and social security | 45 | €9,891 | €9,397 | -€494 | -5.0% |
| Taxes | 450/3 | €7,436 | €6,942 | -€495 | -6.7% |
| Remuneration and social security | 454/9 | €2,455 | €2,455 | +€1 | 0.0% |
| Other amounts payable | 47/48 | €130,969 | €10,827 | -€120,142 | -91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,681 | €11,785 | +€1,105 | +10.3% |
| Other operating charges | 640/8 | €633 | €569 | -€64 | -10.1% |
| Gross operating margin | 9900 | €89,418 | €80,113 | -€9,305 | -10.4% |
| Operating profit (loss) | 9901 | €78,105 | €67,759 | -€10,346 | -13.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €53 | €64 | +€12 | +22.0% |
| Recurring financial charges | 65 | €53 | €64 | +€12 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €78,053 | €67,695 | -€10,358 | -13.3% |
| Income taxes | 67/77 | €15,860 | €13,643 | -€2,217 | -14.0% |
| Profit (loss) for the period | 9904 | €62,193 | €54,051 | -€8,142 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,193 | €54,051 | -€8,142 | -13.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.