GERONDAL: 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.
GERONDAL
Largest movements
- Receivables within one year +€50,270
up €50,270 (+109%), from €45,971 to €96,240
of which Trade receivables: +€48,425
- Tangible fixed assets -€28,968
down €28,968 (-35.5%), from €81,669 to €52,701
- Cash -€9,985
down €9,985 (-69.7%), from €14,326 to €4,342
mainly Receivables within one year (-€50,270) and Debts after one year (-€12,966)
- Stocks and contracts -€6,285
down €6,285 (-3.9%), from €162,058 to €155,773
- Financial fixed assets +€4,950
up €4,950 (+444%), from €1,115 to €6,065
- Trade debts +€19,841
up €19,841 (+42.7%), from €46,471 to €66,311
- Debts after one year -€12,966
down €12,966 (-7.2%), from €180,187 to €167,221
of which Financial debts: -€12,740
- Profit (loss) carried forward +€10,303
up €10,303 (+56.9%), from €18,094 to €28,397
- Current portion of long-term debt -€7,173
down €7,173 (-32.4%), from €22,115 to €14,942
- Other debts -€3,500
down €3,500 (-21.2%), from €16,500 to €13,000
- Staff costs +€45,682
up €45,682 (+6,418%), from €712 to €46,394
- Gross operating margin +€43,510
up €43,510 (+84.6%), from €51,432 to €94,942
- Financial charges -€3,823
down €3,823 (-43.0%), from €8,893 to €5,070
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 | €307,012 | €315,602 | +€8,590 | +2.8% |
| Fixed assets | 21/28 | €82,784 | €58,766 | -€24,018 | -29.0% |
| Tangible fixed assets | 22/27 | €81,669 | €52,701 | -€28,968 | -35.5% |
| Plant, machinery and equipment | 23 | €27,400 | €16,392 | -€11,008 | -40.2% |
| Furniture and vehicles | 24 | €50,509 | €36,149 | -€14,360 | -28.4% |
| Other tangible fixed assets | 26 | €3,760 | €160 | -€3,600 | -95.7% |
| Financial fixed assets | 28 | €1,115 | €6,065 | +€4,950 | +444% |
| Current assets | 29/58 | €224,228 | €256,836 | +€32,608 | +14.5% |
| Stocks and contracts in progress | 3 | €162,058 | €155,773 | -€6,285 | -3.9% |
| Stocks | 30/36 | €162,058 | €155,773 | -€6,285 | -3.9% |
| Amounts receivable within one year | 40/41 | €45,971 | €96,240 | +€50,270 | +109% |
| Trade receivables | 40 | €45,971 | €94,396 | +€48,425 | +105% |
| Other amounts receivable | 41 | €0 | €1,844 | +€1,844 | |
| Cash at bank and in hand | 54/58 | €14,326 | €4,342 | -€9,985 | -69.7% |
| Deferred charges and accrued income | 490/1 | €1,873 | €482 | -€1,391 | -74.3% |
| Total equity and liabilities | 10/49 | €307,012 | €315,602 | +€8,590 | +2.8% |
| Equity | 10/15 | €38,554 | €48,857 | +€10,303 | +26.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,094 | €28,397 | +€10,303 | +56.9% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €268,458 | €266,745 | -€1,713 | -0.6% |
| Amounts payable after more than one year | 17 | €180,187 | €167,221 | -€12,966 | -7.2% |
| Financial debts | 170/4 | €34,379 | €21,639 | -€12,740 | -37.1% |
| Other amounts payable | 178/9 | €145,808 | €145,582 | -€226 | -0.2% |
| Amounts payable within one year | 42/48 | €88,271 | €99,524 | +€11,253 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €22,115 | €14,942 | -€7,173 | -32.4% |
| Trade debts | 44 | €46,471 | €66,311 | +€19,841 | +42.7% |
| Suppliers | 440/4 | €46,471 | €66,311 | +€19,841 | +42.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,185 | €5,270 | +€2,086 | +65.5% |
| Taxes | 450/3 | €959 | €395 | -€565 | -58.9% |
| Remuneration and social security | 454/9 | €2,226 | €4,876 | +€2,650 | +119% |
| Other amounts payable | 47/48 | €16,500 | €13,000 | -€3,500 | -21.2% |
| Remuneration, social security and pensions | 62 | €712 | €46,394 | +€45,682 | +6,418% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,257 | €32,140 | -€117 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €770 | €1,606 | +€837 | +109% |
| Gross operating margin | 9900 | €51,432 | €94,942 | +€43,510 | +84.6% |
| Operating profit (loss) | 9901 | €17,694 | €14,802 | -€2,892 | -16.3% |
| Financial income | 75/76B | €1,013 | €682 | -€331 | -32.7% |
| Recurring financial income | 75 | €1,013 | €682 | -€331 | -32.7% |
| Financial charges | 65/66B | €8,893 | €5,070 | -€3,823 | -43.0% |
| Recurring financial charges | 65 | €8,893 | €5,070 | -€3,823 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €9,815 | €10,415 | +€600 | +6.1% |
| Income taxes | 67/77 | - | €112 | +€112 | |
| Profit (loss) for the period | 9904 | €9,815 | €10,303 | +€488 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,815 | €10,303 | +€488 | +5.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.