Gerolfus: 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.
Gerolfus
Largest movements
- Deferred charges and accrued income -€424,135
down €424,135 (-69.4%), from €611,371 to €187,236
- Cash +€398,753
up €398,753 (+227.4%), from €175,321 to €574,073
mainly Deferred charges and accrued income (+€424,135) and Stocks and contracts (+€367,281)
- Stocks and contracts -€367,281
down €367,281 (-60.4%), from €608,496 to €241,215
- Receivables within one year -€173,905
down €173,905 (-78.9%), from €220,447 to €46,543
- Current portion of long-term debt -€680,000
no longer reported in 2025 (was €680,000)
- Debts after one year +€75,721
up €75,721 (+17.9%), from €422,000 to €497,721
- Profit (loss) carried forward +€33,381
no longer reported in 2025 (was -€33,381)
- Gross operating margin +€46,738
up €46,738 (+162.8%), from €28,710 to €75,448
- Financial charges -€19,526
down €19,526 (-45.6%), from €42,816 to €23,290
- Financial income -€7,108
down €7,108 (-64.9%), from €10,959 to €3,851
- Taxes +€5,680
new in 2025: €5,680
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 | €1,618,657 | €1,056,173 | -€562,484 | -34.8% |
| Fixed assets | 21/28 | €3,021 | €7,105 | +€4,084 | +135.2% |
| Tangible fixed assets | 22/27 | €3,021 | €7,105 | +€4,084 | +135.2% |
| Plant, machinery and equipment | 23 | €2,007 | €6,389 | +€4,382 | +218.3% |
| Furniture and vehicles | 24 | €1,014 | €717 | -€297 | -29.3% |
| Current assets | 29/58 | €1,615,636 | €1,049,067 | -€566,568 | -35.1% |
| Stocks and contracts in progress | 3 | €608,496 | €241,215 | -€367,281 | -60.4% |
| Stocks | 30/36 | €608,496 | €241,215 | -€367,281 | -60.4% |
| Amounts receivable within one year | 40/41 | €220,447 | €46,543 | -€173,905 | -78.9% |
| Other amounts receivable | 41 | €220,447 | €46,543 | -€173,905 | -78.9% |
| Cash at bank and in hand | 54/58 | €175,321 | €574,073 | +€398,753 | +227.4% |
| Deferred charges and accrued income | 490/1 | €611,371 | €187,236 | -€424,135 | -69.4% |
| Total equity and liabilities | 10/49 | €1,618,657 | €1,056,173 | -€562,484 | -34.8% |
| Equity | 10/15 | €506,323 | €551,800 | +€45,477 | +9.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €439,704 | €451,800 | +€12,096 | +2.8% |
| Distributable reserves | 133 | €439,704 | €451,800 | +€12,096 | +2.8% |
| Profit (loss) carried forward | 14 | -€33,381 | - | +€33,381 | |
| Amounts payable | 17/49 | €1,112,334 | €504,373 | -€607,961 | -54.7% |
| Amounts payable after more than one year | 17 | €422,000 | €497,721 | +€75,721 | +17.9% |
| Financial debts | 170/4 | €422,000 | €497,721 | +€75,721 | +17.9% |
| Amounts payable within one year | 42/48 | €684,944 | €3,499 | -€681,445 | -99.5% |
| Current portion of amounts payable after more than one year | 42 | €680,000 | - | -€680,000 | |
| Trade debts | 44 | €4,884 | €3,136 | -€1,748 | -35.8% |
| Suppliers | 440/4 | €4,884 | €3,136 | -€1,748 | -35.8% |
| Taxes, remuneration and social security | 45 | €60 | €363 | +€303 | +509.0% |
| Taxes | 450/3 | €60 | €363 | +€303 | +509.0% |
| Accrued charges and deferred income | 492/3 | €5,390 | €3,154 | -€2,237 | -41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,137 | €1,437 | -€700 | -32.8% |
| Other operating charges | 640/8 | €3,844 | €3,415 | -€429 | -11.2% |
| Gross operating margin | 9900 | €28,710 | €75,448 | +€46,738 | +162.8% |
| Operating profit (loss) | 9901 | €22,729 | €70,596 | +€47,867 | +210.6% |
| Financial income | 75/76B | €10,959 | €3,851 | -€7,108 | -64.9% |
| Recurring financial income | 75 | €10,959 | €3,851 | -€7,108 | -64.9% |
| Financial charges | 65/66B | €42,816 | €23,290 | -€19,526 | -45.6% |
| Recurring financial charges | 65 | €42,816 | €23,290 | -€19,526 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,128 | €51,157 | +€60,285 | |
| Income taxes | 67/77 | - | €5,680 | +€5,680 | |
| Profit (loss) for the period | 9904 | -€9,128 | €45,477 | +€54,604 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,128 | €45,477 | +€54,604 |
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 6 October 2026 via checked.be.