GERPHI: 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.
GERPHI
Largest movements
- Receivables within one year -€85,817
down €85,817 (-80.3%), from €106,910 to €21,093
of which Other amounts receivable: -€68,549
- Cash -€50,657
down €50,657 (-58.5%), from €86,589 to €35,932
mainly Contributions, distributions and other (-€375,000) and Tax, wage and social debts (-€74,900)
- Tangible fixed assets -€21,385
down €21,385 (-8.0%), from €265,973 to €244,588
of which Furniture and vehicles: -€11,835
- Deferred charges and accrued income +€14,928
up €14,928 (+1,123%), from €1,329 to €16,257
- Reserves -€175,458
down €175,458 (-29.5%), from €594,121 to €418,663
of which Distributable reserves: -€175,458
- Other debts +€166,999
up €166,999, from €0 to €166,999
- Tax, wage and social debts -€74,900
down €74,900 (-81.0%), from €92,439 to €17,539
- Debts after one year -€55,008
down €55,008 (-18.9%), from €290,674 to €235,666
- Financial charges -€61,019
down €61,019 (-94.0%), from €64,905 to €3,886
- Taxes +€13,178
up €13,178 (+36.7%), from €35,922 to €49,100
- Gross operating margin -€10,481
down €10,481 (-4.6%), from €226,646 to €216,165
- Financial income -€7,793
down €7,793 (-11.3%), from €69,270 to €61,477
of which Financial income: -€7,793
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 | €1,057,686 | €914,755 | -€142,931 | -13.5% |
| Fixed assets | 21/28 | €862,858 | €841,473 | -€21,385 | -2.5% |
| Tangible fixed assets | 22/27 | €265,973 | €244,588 | -€21,385 | -8.0% |
| Land and buildings | 22 | €223,973 | €214,765 | -€9,208 | -4.1% |
| Plant, machinery and equipment | 23 | €3,415 | €3,073 | -€342 | -10.0% |
| Furniture and vehicles | 24 | €38,585 | €26,750 | -€11,835 | -30.7% |
| Financial fixed assets | 28 | €596,885 | €596,885 | = | 0.0% |
| Current assets | 29/58 | €194,828 | €73,282 | -€121,546 | -62.4% |
| Amounts receivable within one year | 40/41 | €106,910 | €21,093 | -€85,817 | -80.3% |
| Trade receivables | 40 | €17,310 | €42 | -€17,268 | -99.8% |
| Other amounts receivable | 41 | €89,599 | €21,051 | -€68,549 | -76.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €86,589 | €35,932 | -€50,657 | -58.5% |
| Deferred charges and accrued income | 490/1 | €1,329 | €16,257 | +€14,928 | +1,123% |
| Total equity and liabilities | 10/49 | €1,057,686 | €914,755 | -€142,931 | -13.5% |
| Equity | 10/15 | €612,721 | €437,263 | -€175,458 | -28.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €594,121 | €418,663 | -€175,458 | -29.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €592,261 | €416,803 | -€175,458 | -29.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €444,965 | €477,492 | +€32,527 | +7.3% |
| Amounts payable after more than one year | 17 | €290,674 | €235,666 | -€55,008 | -18.9% |
| Financial debts | 170/4 | €290,674 | €235,666 | -€55,008 | -18.9% |
| Amounts payable within one year | 42/48 | €154,039 | €241,526 | +€87,487 | +56.8% |
| Current portion of amounts payable after more than one year | 42 | €58,041 | €55,008 | -€3,033 | -5.2% |
| Financial debts | 43 | - | €49 | +€49 | |
| Credit institutions | 430/8 | - | €49 | +€49 | |
| Trade debts | 44 | €3,412 | €1,931 | -€1,481 | -43.4% |
| Suppliers | 440/4 | €3,412 | €1,931 | -€1,481 | -43.4% |
| Advances received on contracts in progress | 46 | €147 | - | -€147 | |
| Taxes, remuneration and social security | 45 | €92,439 | €17,539 | -€74,900 | -81.0% |
| Taxes | 450/3 | €92,439 | €17,539 | -€74,900 | -81.0% |
| Other amounts payable | 47/48 | €0 | €166,999 | +€166,999 | |
| Accrued charges and deferred income | 492/3 | €252 | €300 | +€48 | +19.1% |
| Non-recurring operating income | 76A | €74,906 | - | -€74,906 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,835 | €22,126 | -€709 | -3.1% |
| Other operating charges | 640/8 | €2,962 | €2,987 | +€26 | +0.9% |
| Gross operating margin | 9900 | €226,646 | €216,165 | -€10,481 | -4.6% |
| Operating profit (loss) | 9901 | €200,849 | €191,051 | -€9,798 | -4.9% |
| Financial income | 75/76B | €69,270 | €61,477 | -€7,793 | -11.3% |
| Recurring financial income | 75 | €69,270 | €61,477 | -€7,793 | -11.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €64,905 | €3,886 | -€61,019 | -94.0% |
| Recurring financial charges | 65 | €64,905 | €3,886 | -€61,019 | -94.0% |
| Profit (loss) for the period before taxes | 9903 | €205,214 | €248,642 | +€43,428 | +21.2% |
| Income taxes | 67/77 | €35,922 | €49,100 | +€13,178 | +36.7% |
| Profit (loss) for the period | 9904 | €169,292 | €199,542 | +€30,250 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €169,292 | €199,542 | +€30,250 | +17.9% |
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 14 October 2026 via checked.be.