Gert: 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.
Gert
Largest movements
- Cash +€162,323
up €162,323 (+220%), from €73,872 to €236,195
mainly Net result for the year (+€128,849) and Receivables within one year (+€30,250)
- Receivables within one year -€30,250
down €30,250 (-23.1%), from €130,691 to €100,441
of which Trade receivables: -€30,250
- Current investments -€10,000
down €10,000 (-3.1%), from €320,000 to €310,000
- Reserves +€128,849
up €128,849 (+28.4%), from €453,946 to €582,796
- Tax, wage and social debts -€6,555
down €6,555 (-10.5%), from €62,456 to €55,902
of which Taxes: -€4,527
- Gross operating margin +€23,652
up €23,652 (+15.6%), from €151,266 to €174,917
- Taxes +€8,138
up €8,138 (+17.8%), from €45,784 to €53,921
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 | €524,563 | €646,637 | +€122,073 | +23.3% |
| Current assets | 29/58 | €524,563 | €646,637 | +€122,073 | +23.3% |
| Amounts receivable within one year | 40/41 | €130,691 | €100,441 | -€30,250 | -23.1% |
| Trade receivables | 40 | €125,328 | €95,079 | -€30,250 | -24.1% |
| Other amounts receivable | 41 | €5,363 | €5,363 | = | 0.0% |
| Current investments | 50/53 | €320,000 | €310,000 | -€10,000 | -3.1% |
| Cash at bank and in hand | 54/58 | €73,872 | €236,195 | +€162,323 | +220% |
| Total equity and liabilities | 10/49 | €524,563 | €646,637 | +€122,073 | +23.3% |
| Equity | 10/15 | €458,946 | €587,796 | +€128,849 | +28.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €453,946 | €582,796 | +€128,849 | +28.4% |
| Distributable reserves | 133 | €453,946 | €582,796 | +€128,849 | +28.4% |
| Amounts payable | 17/49 | €65,617 | €58,841 | -€6,776 | -10.3% |
| Amounts payable within one year | 42/48 | €65,617 | €58,841 | -€6,776 | -10.3% |
| Trade debts | 44 | €28 | - | -€28 | |
| Suppliers | 440/4 | €28 | - | -€28 | |
| Taxes, remuneration and social security | 45 | €62,456 | €55,902 | -€6,555 | -10.5% |
| Taxes | 450/3 | €60,429 | €55,902 | -€4,527 | -7.5% |
| Remuneration and social security | 454/9 | €2,027 | - | -€2,027 | |
| Other amounts payable | 47/48 | €3,133 | €2,940 | -€193 | -6.2% |
| Other operating charges | 640/8 | €449 | €400 | -€50 | -11.0% |
| Gross operating margin | 9900 | €151,266 | €174,917 | +€23,652 | +15.6% |
| Operating profit (loss) | 9901 | €150,816 | €174,518 | +€23,701 | +15.7% |
| Financial income | 75/76B | €7,361 | €8,253 | +€892 | +12.1% |
| Recurring financial income | 75 | €7,361 | €8,253 | +€892 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €158,177 | €182,771 | +€24,594 | +15.5% |
| Income taxes | 67/77 | €45,784 | €53,921 | +€8,138 | +17.8% |
| Profit (loss) for the period | 9904 | €112,393 | €128,849 | +€16,456 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €112,393 | €128,849 | +€16,456 | +14.6% |
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 16 October 2026 via checked.be.