GEROBA: 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.
GEROBA
Largest movements
- Tangible fixed assets +€51,685
up €51,685 (+59.8%), from €86,495 to €138,180
of which Furniture and vehicles: +€60,668
- Cash -€44,226
down €44,226 (-16.4%), from €269,792 to €225,566
mainly Contributions, distributions and other (-€437,769) and Investment in fixed assets (net) (-€97,709)
- Stocks and contracts -€14,397
down €14,397 (-2.6%), from €555,384 to €540,987
- Financial fixed assets +€12,300
up €12,300 (+141%), from €8,700 to €21,000
- Reserves -€240,967
down €240,967 (-29.0%), from €830,684 to €589,717
of which Distributable reserves: -€240,967
- Other debts +€143,343
up €143,343 (+437%), from €32,765 to €176,109
- Tax, wage and social debts +€40,236
up €40,236 (+92.5%), from €43,518 to €83,754
of which Taxes: +€22,314
- Trade debts +€36,566
up €36,566 (+32.8%), from €111,618 to €148,184
- Current portion of long-term debt +€18,922
up €18,922 (+145%), from €13,084 to €32,006
- Gross operating margin +€255,971
up €255,971 (+46.3%), from €553,336 to €809,307
- Staff costs +€181,398
up €181,398 (+64.6%), from €280,661 to €462,059
- Taxes +€23,351
up €23,351 (+37.4%), from €62,386 to €85,737
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.
Derived cash bridge
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 | €1,168,336 | €1,183,077 | +€14,742 | +1.3% |
| Fixed assets | 21/28 | €95,267 | €164,178 | +€68,910 | +72.3% |
| Intangible fixed assets | 21 | €73 | €4,998 | +€4,925 | +6,774% |
| Tangible fixed assets | 22/27 | €86,495 | €138,180 | +€51,685 | +59.8% |
| Plant, machinery and equipment | 23 | €40,239 | €30,534 | -€9,704 | -24.1% |
| Furniture and vehicles | 24 | €8,597 | €69,265 | +€60,668 | +706% |
| Other tangible fixed assets | 26 | €37,659 | €38,381 | +€722 | +1.9% |
| Financial fixed assets | 28 | €8,700 | €21,000 | +€12,300 | +141% |
| Current assets | 29/58 | €1,073,068 | €1,018,900 | -€54,169 | -5.0% |
| Stocks and contracts in progress | 3 | €555,384 | €540,987 | -€14,397 | -2.6% |
| Stocks | 30/36 | €555,384 | €540,987 | -€14,397 | -2.6% |
| Amounts receivable within one year | 40/41 | €224,668 | €224,197 | -€470 | -0.2% |
| Trade receivables | 40 | €207,914 | €223,665 | +€15,751 | +7.6% |
| Other amounts receivable | 41 | €16,754 | €532 | -€16,221 | -96.8% |
| Cash at bank and in hand | 54/58 | €269,792 | €225,566 | -€44,226 | -16.4% |
| Deferred charges and accrued income | 490/1 | €23,225 | €28,150 | +€4,925 | +21.2% |
| Total equity and liabilities | 10/49 | €1,168,336 | €1,183,077 | +€14,742 | +1.3% |
| Equity | 10/15 | €840,984 | €600,017 | -€240,967 | -28.7% |
| Contributions | 10/11 | €10,300 | €10,300 | = | 0.0% |
| Reserves | 13 | €830,684 | €589,717 | -€240,967 | -29.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €828,829 | €587,862 | -€240,967 | -29.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €327,351 | €583,060 | +€255,709 | +78.1% |
| Amounts payable after more than one year | 17 | €126,366 | €141,534 | +€15,168 | +12.0% |
| Financial debts | 170/4 | €126,366 | €141,534 | +€15,168 | +12.0% |
| Amounts payable within one year | 42/48 | €200,985 | €441,527 | +€240,541 | +120% |
| Current portion of amounts payable after more than one year | 42 | €13,084 | €32,006 | +€18,922 | +145% |
| Financial debts | 43 | €0 | €1,474 | +€1,474 | |
| Credit institutions | 430/8 | €0 | €1,474 | +€1,474 | |
| Trade debts | 44 | €111,618 | €148,184 | +€36,566 | +32.8% |
| Suppliers | 440/4 | €111,618 | €148,184 | +€36,566 | +32.8% |
| Taxes, remuneration and social security | 45 | €43,518 | €83,754 | +€40,236 | +92.5% |
| Taxes | 450/3 | €16,520 | €38,834 | +€22,314 | +135% |
| Remuneration and social security | 454/9 | €26,998 | €44,921 | +€17,922 | +66.4% |
| Other amounts payable | 47/48 | €32,765 | €176,109 | +€143,343 | +437% |
| Non-recurring operating income | 76A | €12,500 | €12,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €280,661 | €462,059 | +€181,398 | +64.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,533 | €28,799 | +€5,266 | +22.4% |
| Other operating charges | 640/8 | €15,782 | €17,676 | +€1,894 | +12.0% |
| Gross operating margin | 9900 | €553,336 | €809,307 | +€255,971 | +46.3% |
| Operating profit (loss) | 9901 | €233,360 | €300,773 | +€67,413 | +28.9% |
| Financial income | 75/76B | €979 | €448 | -€531 | -54.3% |
| Recurring financial income | 75 | €979 | €448 | -€531 | -54.3% |
| Financial charges | 65/66B | €18,916 | €18,682 | -€234 | -1.2% |
| Recurring financial charges | 65 | €18,916 | €18,682 | -€234 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €215,422 | €282,539 | +€67,116 | +31.2% |
| Income taxes | 67/77 | €62,386 | €85,737 | +€23,351 | +37.4% |
| Profit (loss) for the period | 9904 | €153,037 | €196,802 | +€43,765 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €153,037 | €196,802 | +€43,765 | +28.6% |
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 19 October 2026 via checked.be.