GERNIC: 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.
What changed
GERNIC
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€34,637
2024 · €138,087-€103,450
Equity
€5.1m
2024 · €5.1m-€5,363
Cash
€204,605
2024 · €814,130-€609,525
Balance sheet total
€6.3m
2024 · €6.4m-€130,064
Largest movements
Assets
- Current investments +€700,000
up €700,000, from €0 to €700,000
- Cash -€609,525
down €609,525 (-74.9%), from €814,130 to €204,605
mainly Current investments (-€700,000) and Debts after one year (-€154,556)
- Tangible fixed assets -€254,565
down €254,565 (-4.9%), from €5.2m to €4.9m
of which Land and buildings: -€224,013
Equity and liabilities
- Debts after one year -€154,556
down €154,556 (-27.3%), from €565,532 to €410,977
Income statement
- Gross operating margin -€107,266
down €107,266 (-11.8%), from €907,635 to €800,369
- Staff costs +€65,862
up €65,862 (+22.8%), from €288,407 to €354,269
- Depreciation -€30,750
down €30,750 (-9.8%), from €314,373 to €283,623
- Financial income -€11,104
down €11,104 (-63.8%), from €17,409 to €6,305
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.
Result 2024
€138,087
Gross operating margin
-€107,266
Staff costs
-€65,862
Depreciation
+€30,750
Other operating charges
-€1,198
Other operating items
+€345
Financial income
-€11,104
Financial charges
+€5,069
Taxes
-€7,299
Deferred taxes and other
+€53,114
Result 2025
€34,637
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.
From operations
+€310,673
Investment
-€728,112
Financing
-€192,086
Cash 2024
€814,130
From operations (derived)
+€310,673
Net result for the year
+€34,637
Depreciation
+€283,623
Receivables within one year
-€31,423
Deferred charges and accrued income
-€3,549
Provisions
-€9,727
Trade debts
+€12,621
Tax, wage and social debts
+€6,265
Advances received
-€6,334
Other debts
+€40,250
Accrued charges and deferred income
-€15,691
Investment (derived)
-€728,112
Investment in fixed assets (net)
-€28,112
Current investments
-€700,000
Financing
-€192,086
Debts after one year
-€154,556
Current portion of long-term debt
+€2,470
Contributions, distributions and other
-€40,000
Cash 2025
€204,605
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,398,253 | €6,268,189 | -€130,064 | -2.0% |
| Fixed assets | 21/28 | €5,218,968 | €4,963,457 | -€255,511 | -4.9% |
| Intangible fixed assets | 21 | €1,483 | €537 | -€946 | -63.8% |
| Tangible fixed assets | 22/27 | €5,177,486 | €4,922,921 | -€254,565 | -4.9% |
| Land and buildings | 22 | €5,002,417 | €4,778,404 | -€224,013 | -4.5% |
| Plant, machinery and equipment | 23 | €123,157 | €108,496 | -€14,662 | -11.9% |
| Furniture and vehicles | 24 | €51,911 | €36,021 | -€15,890 | -30.6% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €1,179,285 | €1,304,732 | +€125,447 | +10.6% |
| Stocks and contracts in progress | 3 | €267,330 | €267,330 | = | 0.0% |
| Stocks | 30/36 | €267,330 | €267,330 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €82,642 | €114,065 | +€31,423 | +38.0% |
| Trade receivables | 40 | €14,998 | €6,480 | -€8,519 | -56.8% |
| Other amounts receivable | 41 | €67,644 | €107,586 | +€39,942 | +59.0% |
| Current investments | 50/53 | €0 | €700,000 | +€700,000 | |
| Cash at bank and in hand | 54/58 | €814,130 | €204,605 | -€609,525 | -74.9% |
| Deferred charges and accrued income | 490/1 | €15,182 | €18,731 | +€3,549 | +23.4% |
| Total equity and liabilities | 10/49 | €6,398,253 | €6,268,189 | -€130,064 | -2.0% |
| Equity | 10/15 | €5,110,111 | €5,104,748 | -€5,363 | -0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,091,519 | €5,086,156 | -€5,363 | -0.1% |
| Tax-exempt reserves | 132 | €266,867 | €237,687 | -€29,180 | -10.9% |
| Distributable reserves | 133 | €4,824,652 | €4,848,469 | +€23,816 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €88,956 | €79,229 | -€9,727 | -10.9% |
| Deferred taxes | 168 | €88,956 | €79,229 | -€9,727 | -10.9% |
| Amounts payable | 17/49 | €1,199,186 | €1,084,211 | -€114,974 | -9.6% |
| Amounts payable after more than one year | 17 | €565,532 | €410,977 | -€154,556 | -27.3% |
| Financial debts | 170/4 | €565,532 | €410,977 | -€154,556 | -27.3% |
| Amounts payable within one year | 42/48 | €564,415 | €619,687 | +€55,272 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €152,086 | €154,556 | +€2,470 | +1.6% |
| Trade debts | 44 | €40,887 | €53,508 | +€12,621 | +30.9% |
| Suppliers | 440/4 | €40,887 | €53,508 | +€12,621 | +30.9% |
| Advances received on contracts in progress | 46 | €34,095 | €27,762 | -€6,334 | -18.6% |
| Taxes, remuneration and social security | 45 | €42,539 | €48,804 | +€6,265 | +14.7% |
| Taxes | 450/3 | €2,741 | €5,748 | +€3,008 | +109.7% |
| Remuneration and social security | 454/9 | €39,799 | €43,056 | +€3,257 | +8.2% |
| Other amounts payable | 47/48 | €294,808 | €335,058 | +€40,250 | +13.7% |
| Accrued charges and deferred income | 492/3 | €69,238 | €53,547 | -€15,691 | -22.7% |
| Non-recurring operating income | 76A | €206,920 | €78,508 | -€128,412 | -62.1% |
| Remuneration, social security and pensions | 62 | €288,407 | €354,269 | +€65,862 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314,373 | €283,623 | -€30,750 | -9.8% |
| Other operating charges | 640/8 | €88,825 | €90,023 | +€1,198 | +1.3% |
| Non-recurring operating charges | 66A | €345 | €0 | -€345 | -100.0% |
| Gross operating margin | 9900 | €907,635 | €800,369 | -€107,266 | -11.8% |
| Operating profit (loss) | 9901 | €215,684 | €72,454 | -€143,230 | -66.4% |
| Financial income | 75/76B | €17,409 | €6,305 | -€11,104 | -63.8% |
| Recurring financial income | 75 | €17,409 | €6,305 | -€11,104 | -63.8% |
| Financial charges | 65/66B | €48,935 | €43,865 | -€5,069 | -10.4% |
| Recurring financial charges | 65 | €48,935 | €43,865 | -€5,069 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €184,159 | €34,894 | -€149,265 | -81.1% |
| Transfer from deferred taxes | 780 | €7,768 | €9,727 | +€1,958 | +25.2% |
| Transfer to deferred taxes | 680 | €51,155 | €0 | -€51,155 | -100.0% |
| Income taxes | 67/77 | €2,685 | €9,984 | +€7,299 | +271.9% |
| Profit (loss) for the period | 9904 | €138,087 | €34,637 | -€103,450 | -74.9% |
| Transfer from tax-exempt reserves | 789 | €23,304 | €29,180 | +€5,875 | +25.2% |
| Transfer to tax-exempt reserves | 689 | €153,466 | €0 | -€153,466 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,925 | €63,816 | +€55,891 | +705.2% |
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 1 October 2026 via checked.be.