Germo: 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.
Germo
Largest movements
- Cash +€18,494
up €18,494 (+727.5%), from €2,542 to €21,036
mainly Net result for the year (+€27,401) and Debts after one year (+€12,724)
- Tangible fixed assets -€8,073
down €8,073 (-21.7%), from €37,134 to €29,061
- Financial fixed assets +€3,600
new in 2025: €3,600
- Receivables within one year +€1,872
up €1,872 (+27.6%), from €6,775 to €8,647
of which Trade receivables: +€3,279
- Stocks and contracts +€1,320
up €1,320 (+334.3%), from €395 to €1,715
- Profit (loss) carried forward +€27,401
up €27,401, from -€26,613 to €788
- Other debts -€26,878
down €26,878 (-53.3%), from €50,447 to €23,569
- Debts after one year +€12,724
up €12,724 (+103.4%), from €12,304 to €25,029
of which Other amounts payable: +€20,000
- Trade debts +€2,618
up €2,618 (+122.7%), from €2,133 to €4,751
- Tax, wage and social debts +€1,846
up €1,846 (+1730.1%), from €107 to €1,952
of which Taxes: +€1,846
- Gross operating margin +€61,987
up €61,987, from -€20,596 to €41,392
- Depreciation +€4,844
up €4,844 (+150.0%), from €3,229 to €8,073
- Taxes +€1,739
up €1,739 (+1630.1%), from €107 to €1,846
- Other operating charges +€792
up €792 (+70.3%), from €1,126 to €1,918
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 | €46,846 | €65,260 | +€18,414 | +39.3% |
| Fixed assets | 21/28 | €37,134 | €32,661 | -€4,473 | -12.0% |
| Tangible fixed assets | 22/27 | €37,134 | €29,061 | -€8,073 | -21.7% |
| Furniture and vehicles | 24 | €37,134 | €29,061 | -€8,073 | -21.7% |
| Financial fixed assets | 28 | - | €3,600 | +€3,600 | |
| Current assets | 29/58 | €9,712 | €32,599 | +€22,887 | +235.6% |
| Stocks and contracts in progress | 3 | €395 | €1,715 | +€1,320 | +334.3% |
| Stocks | 30/36 | €395 | €1,715 | +€1,320 | +334.3% |
| Amounts receivable within one year | 40/41 | €6,775 | €8,647 | +€1,872 | +27.6% |
| Trade receivables | 40 | €2,077 | €5,356 | +€3,279 | +157.9% |
| Other amounts receivable | 41 | €4,698 | €3,292 | -€1,407 | -29.9% |
| Cash at bank and in hand | 54/58 | €2,542 | €21,036 | +€18,494 | +727.5% |
| Deferred charges and accrued income | 490/1 | - | €1,200 | +€1,200 | |
| Total equity and liabilities | 10/49 | €46,846 | €65,260 | +€18,414 | +39.3% |
| Equity | 10/15 | -€25,113 | €2,288 | +€27,401 | |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,613 | €788 | +€27,401 | |
| Amounts payable | 17/49 | €71,959 | €62,972 | -€8,987 | -12.5% |
| Amounts payable after more than one year | 17 | €12,304 | €25,029 | +€12,724 | +103.4% |
| Financial debts | 170/4 | €12,304 | €5,029 | -€7,276 | -59.1% |
| Other amounts payable | 178/9 | - | €20,000 | +€20,000 | |
| Amounts payable within one year | 42/48 | €59,654 | €37,943 | -€21,711 | -36.4% |
| Current portion of amounts payable after more than one year | 42 | €6,967 | €7,276 | +€308 | +4.4% |
| Trade debts | 44 | €2,133 | €4,751 | +€2,618 | +122.7% |
| Suppliers | 440/4 | €2,133 | €4,751 | +€2,618 | +122.7% |
| Advances received on contracts in progress | 46 | - | €395 | +€395 | |
| Taxes, remuneration and social security | 45 | €107 | €1,952 | +€1,846 | +1730.1% |
| Taxes | 450/3 | €107 | €1,952 | +€1,846 | +1730.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €50,447 | €23,569 | -€26,878 | -53.3% |
| Non-recurring operating income | 76A | €1,240 | €3,737 | +€2,497 | +201.3% |
| Remuneration, social security and pensions | 62 | - | €237 | +€237 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,229 | €8,073 | +€4,844 | +150.0% |
| Other operating charges | 640/8 | €1,126 | €1,918 | +€792 | +70.3% |
| Gross operating margin | 9900 | -€20,596 | €41,392 | +€61,987 | |
| Operating profit (loss) | 9901 | -€24,951 | €31,164 | +€56,115 | |
| Financial income | 75/76B | €6 | €11 | +€5 | +95.0% |
| Recurring financial income | 75 | €6 | €11 | +€5 | +95.0% |
| Financial charges | 65/66B | €1,561 | €1,928 | +€368 | +23.6% |
| Recurring financial charges | 65 | €1,561 | €1,928 | +€368 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | -€26,506 | €29,247 | +€55,753 | |
| Income taxes | 67/77 | €107 | €1,846 | +€1,739 | +1630.1% |
| Profit (loss) for the period | 9904 | -€26,613 | €27,401 | +€54,014 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,613 | €27,401 | +€54,014 |
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.