GERPIMETAL: 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.
GERPIMETAL
Largest movements
- Receivables within one year -€20,670
down €20,670 (-32.5%), from €63,584 to €42,915
of which Trade receivables: -€14,614
- Tangible fixed assets +€13,881
up €13,881 (+52.5%), from €26,464 to €40,345
of which Land and buildings: +€22,282
- Cash +€9,915
up €9,915 (+95.7%), from €10,360 to €20,275
mainly Net result for the year (+€26,858) and Receivables within one year (+€20,670)
- Trade debts -€31,513
down €31,513 (-63.9%), from €49,342 to €17,829
- Reserves +€26,858
up €26,858 (+69.5%), from €38,642 to €65,500
- Tax, wage and social debts +€8,978
up €8,978 (+107%), from €8,373 to €17,351
of which Taxes: +€7,436
- Other debts -€1,965
down €1,965 (-32.4%), from €6,061 to €4,096
- Gross operating margin +€44,913
up €44,913 (+59.9%), from €74,985 to €119,898
- Taxes +€11,465
up €11,465 (+1,165%), from €984 to €12,449
- Write-downs +€6,424
new in 2025: €6,424
- Depreciation +€2,746
up €2,746 (+44.5%), from €6,173 to €8,919
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 | €111,676 | €114,145 | +€2,469 | +2.2% |
| Fixed assets | 21/28 | €26,708 | €40,589 | +€13,881 | +52.0% |
| Tangible fixed assets | 22/27 | €26,464 | €40,345 | +€13,881 | +52.5% |
| Land and buildings | 22 | €2,479 | €24,760 | +€22,282 | +899% |
| Plant, machinery and equipment | 23 | €3,542 | €1,540 | -€2,002 | -56.5% |
| Furniture and vehicles | 24 | €18,372 | €12,909 | -€5,463 | -29.7% |
| Other tangible fixed assets | 26 | €2,071 | €1,135 | -€936 | -45.2% |
| Financial fixed assets | 28 | €244 | €244 | = | 0.0% |
| Current assets | 29/58 | €84,968 | €73,556 | -€11,412 | -13.4% |
| Stocks and contracts in progress | 3 | €7,224 | €6,574 | -€649 | -9.0% |
| Stocks | 30/36 | €7,224 | €6,574 | -€649 | -9.0% |
| Amounts receivable within one year | 40/41 | €63,584 | €42,915 | -€20,670 | -32.5% |
| Trade receivables | 40 | €54,185 | €39,571 | -€14,614 | -27.0% |
| Other amounts receivable | 41 | €9,400 | €3,344 | -€6,056 | -64.4% |
| Cash at bank and in hand | 54/58 | €10,360 | €20,275 | +€9,915 | +95.7% |
| Deferred charges and accrued income | 490/1 | €3,801 | €3,792 | -€8 | -0.2% |
| Total equity and liabilities | 10/49 | €111,676 | €114,145 | +€2,469 | +2.2% |
| Equity | 10/15 | €44,840 | €71,698 | +€26,858 | +59.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €38,642 | €65,500 | +€26,858 | +69.5% |
| Distributable reserves | 133 | €38,642 | €65,500 | +€26,858 | +69.5% |
| Amounts payable | 17/49 | €66,836 | €42,448 | -€24,389 | -36.5% |
| Amounts payable within one year | 42/48 | €66,836 | €42,448 | -€24,389 | -36.5% |
| Trade debts | 44 | €49,342 | €17,829 | -€31,513 | -63.9% |
| Suppliers | 440/4 | €49,342 | €17,829 | -€31,513 | -63.9% |
| Advances received on contracts in progress | 46 | €3,061 | €3,172 | +€111 | +3.6% |
| Taxes, remuneration and social security | 45 | €8,373 | €17,351 | +€8,978 | +107% |
| Taxes | 450/3 | €640 | €8,076 | +€7,436 | +1,162% |
| Remuneration and social security | 454/9 | €7,733 | €9,275 | +€1,542 | +19.9% |
| Other amounts payable | 47/48 | €6,061 | €4,096 | -€1,965 | -32.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,653 | - | -€1,653 | |
| Remuneration, social security and pensions | 62 | €59,203 | €59,700 | +€497 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,173 | €8,919 | +€2,746 | +44.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,424 | +€6,424 | |
| Other operating charges | 640/8 | €2,633 | €2,949 | +€316 | +12.0% |
| Non-recurring operating charges | 66A | €4,090 | €1,010 | -€3,080 | -75.3% |
| Gross operating margin | 9900 | €74,985 | €119,898 | +€44,913 | +59.9% |
| Operating profit (loss) | 9901 | €2,887 | €40,897 | +€38,010 | +1,317% |
| Financial income | 75/76B | €430 | €81 | -€349 | -81.2% |
| Recurring financial income | 75 | €218 | €81 | -€138 | -63.0% |
| Non-recurring financial income | 76B | €212 | - | -€212 | |
| Financial charges | 65/66B | €1,106 | €1,670 | +€564 | +51.0% |
| Recurring financial charges | 65 | €1,106 | €1,222 | +€116 | +10.5% |
| Non-recurring financial charges | 66B | - | €448 | +€448 | |
| Profit (loss) for the period before taxes | 9903 | €2,211 | €39,307 | +€37,096 | +1,678% |
| Income taxes | 67/77 | €984 | €12,449 | +€11,465 | +1,165% |
| Profit (loss) for the period | 9904 | €1,227 | €26,858 | +€25,631 | +2,090% |
| Profit (loss) for the period to be appropriated | 9905 | €1,227 | €26,858 | +€25,631 | +2,090% |
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 18 October 2026 via checked.be.