GERO: 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.
GERO
Largest movements
- Cash +€28,807
up €28,807 (+11.4%), from €253,388 to €282,195
mainly Depreciation (+€136,304) and Other debts (+€33,854)
- Tangible fixed assets -€28,278
down €28,278 (-4.4%), from €638,207 to €609,929
of which Plant, machinery and equipment: -€137,543
- Debts after one year -€74,446
down €74,446 (-17.6%), from €422,200 to €347,754
of which Financial debts: -€74,446
- Other debts +€33,854
up €33,854 (+266.0%), from €12,729 to €46,582
- Reserves +€28,864
up €28,864 (+6.8%), from €422,461 to €451,325
- Gross operating margin -€103,506
down €103,506 (-33.9%), from €305,260 to €201,754
- Taxes -€29,805
down €29,805 (-76.4%), from €38,994 to €9,189
- Financial charges +€22,046
up €22,046 (+1325.7%), from €1,663 to €23,709
- Depreciation +€8,071
up €8,071 (+6.3%), from €128,233 to €136,304
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 | €985,587 | €969,972 | -€15,616 | -1.6% |
| Fixed assets | 21/28 | €638,257 | €609,979 | -€28,278 | -4.4% |
| Tangible fixed assets | 22/27 | €638,207 | €609,929 | -€28,278 | -4.4% |
| Land and buildings | 22 | €67,541 | €58,296 | -€9,245 | -13.7% |
| Plant, machinery and equipment | 23 | €570,666 | €433,123 | -€137,543 | -24.1% |
| Furniture and vehicles | 24 | - | €118,510 | +€118,510 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €347,330 | €359,993 | +€12,663 | +3.6% |
| Stocks and contracts in progress | 3 | €3,542 | - | -€3,542 | |
| Stocks | 30/36 | €3,542 | - | -€3,542 | |
| Amounts receivable within one year | 40/41 | €73,268 | €67,206 | -€6,061 | -8.3% |
| Trade receivables | 40 | €39,973 | €35,489 | -€4,484 | -11.2% |
| Other amounts receivable | 41 | €33,295 | €31,718 | -€1,577 | -4.7% |
| Cash at bank and in hand | 54/58 | €253,388 | €282,195 | +€28,807 | +11.4% |
| Deferred charges and accrued income | 490/1 | €17,132 | €10,591 | -€6,541 | -38.2% |
| Total equity and liabilities | 10/49 | €985,587 | €969,972 | -€15,616 | -1.6% |
| Equity | 10/15 | €441,053 | €469,917 | +€28,864 | +6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €422,461 | €451,325 | +€28,864 | +6.8% |
| Distributable reserves | 133 | €422,461 | €451,325 | +€28,864 | +6.8% |
| Amounts payable | 17/49 | €544,534 | €500,055 | -€44,479 | -8.2% |
| Amounts payable after more than one year | 17 | €422,200 | €347,754 | -€74,446 | -17.6% |
| Financial debts | 170/4 | €122,200 | €47,754 | -€74,446 | -60.9% |
| Other amounts payable | 178/9 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €118,433 | €146,784 | +€28,351 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €74,003 | €74,446 | +€444 | +0.6% |
| Trade debts | 44 | €14,042 | €14,501 | +€459 | +3.3% |
| Suppliers | 440/4 | €14,042 | €14,501 | +€459 | +3.3% |
| Taxes, remuneration and social security | 45 | €17,659 | €11,254 | -€6,405 | -36.3% |
| Taxes | 450/3 | €17,659 | €11,254 | -€6,405 | -36.3% |
| Other amounts payable | 47/48 | €12,729 | €46,582 | +€33,854 | +266.0% |
| Accrued charges and deferred income | 492/3 | €3,902 | €5,518 | +€1,616 | +41.4% |
| Non-recurring operating income | 76A | - | €5,500 | +€5,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,233 | €136,304 | +€8,071 | +6.3% |
| Other operating charges | 640/8 | €1,923 | €2,031 | +€108 | +5.6% |
| Gross operating margin | 9900 | €305,260 | €201,754 | -€103,506 | -33.9% |
| Operating profit (loss) | 9901 | €175,104 | €63,418 | -€111,685 | -63.8% |
| Financial income | 75/76B | €31 | €10 | -€21 | -68.1% |
| Recurring financial income | 75 | €31 | €10 | -€21 | -68.1% |
| Financial charges | 65/66B | €1,663 | €23,709 | +€22,046 | +1325.7% |
| Recurring financial charges | 65 | €1,663 | €23,709 | +€22,046 | +1325.7% |
| Profit (loss) for the period before taxes | 9903 | €173,472 | €39,719 | -€133,753 | -77.1% |
| Income taxes | 67/77 | €38,994 | €9,189 | -€29,805 | -76.4% |
| Profit (loss) for the period | 9904 | €134,478 | €30,530 | -€103,948 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €134,478 | €30,530 | -€103,948 | -77.3% |
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 7 October 2026 via checked.be.