Gert Achten: what changed
Gert Achten
Largest movements
- Cash +€33,087
up €33,087 (+88.6%), from €37,348 to €70,434
mainly Trade debts (+€56,706) and Other debts (+€37,165)
- Receivables within one year +€23,999
up €23,999 (+113%), from €21,271 to €45,269
of which Trade receivables: +€34,348
- Stocks and contracts +€19,344
up €19,344 (+198%), from €9,789 to €29,134
of which Contracts in progress: +€20,489
- Tangible fixed assets +€13,781
up €13,781 (+16.3%), from €84,660 to €98,441
of which Furniture and vehicles: +€12,645
- Deferred charges and accrued income -€4,400
down €4,400 (-33.6%), from €13,100 to €8,700
- Trade debts +€56,706
up €56,706 (+232%), from €24,408 to €81,114
- Other debts +€37,165
up €37,165 (+1,781%), from €2,086 to €39,252
- Reserves -€32,346
down €32,346 (-58.7%), from €55,070 to €22,725
- Tax, wage and social debts +€11,209
up €11,209, from €0 to €11,209
- Current portion of long-term debt +€4,693
up €4,693 (+90.4%), from €5,189 to €9,882
- Gross operating margin +€26,342
up €26,342 (+123%), from €21,359 to €47,702
- Depreciation +€7,830
up €7,830 (+68.5%), from €11,425 to €19,255
- Taxes +€4,474
up €4,474 (+281%), from €1,594 to €6,068
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €168,168 | €253,478 | +€85,310 | +50.7% |
| Fixed assets | 21/28 | €86,660 | €99,941 | +€13,281 | +15.3% |
| Intangible fixed assets | 21 | €2,000 | €1,500 | -€500 | -25.0% |
| Tangible fixed assets | 22/27 | €84,660 | €98,441 | +€13,781 | +16.3% |
| Land and buildings | 22 | €61,917 | €61,782 | -€135 | -0.2% |
| Plant, machinery and equipment | 23 | €3,969 | €5,239 | +€1,271 | +32.0% |
| Furniture and vehicles | 24 | €18,774 | €31,420 | +€12,645 | +67.4% |
| Current assets | 29/58 | €81,508 | €153,537 | +€72,029 | +88.4% |
| Stocks and contracts in progress | 3 | €9,789 | €29,134 | +€19,344 | +198% |
| Stocks | 30/36 | €9,789 | €8,645 | -€1,145 | -11.7% |
| Contracts in progress | 37 | - | €20,489 | +€20,489 | |
| Amounts receivable within one year | 40/41 | €21,271 | €45,269 | +€23,999 | +113% |
| Trade receivables | 40 | €10,921 | €45,269 | +€34,348 | +315% |
| Other amounts receivable | 41 | €10,349 | €0 | -€10,349 | -100% |
| Cash at bank and in hand | 54/58 | €37,348 | €70,434 | +€33,087 | +88.6% |
| Deferred charges and accrued income | 490/1 | €13,100 | €8,700 | -€4,400 | -33.6% |
| Total equity and liabilities | 10/49 | €168,168 | €253,478 | +€85,310 | +50.7% |
| Equity | 10/15 | €73,670 | €41,325 | -€32,346 | -43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,070 | €22,725 | -€32,346 | -58.7% |
| Distributable reserves | 133 | €55,070 | €22,725 | -€32,346 | -58.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €94,497 | €212,154 | +€117,656 | +125% |
| Amounts payable after more than one year | 17 | €48,234 | €52,863 | +€4,629 | +9.6% |
| Financial debts | 170/4 | €48,234 | €52,863 | +€4,629 | +9.6% |
| Amounts payable within one year | 42/48 | €31,683 | €141,456 | +€109,774 | +346% |
| Current portion of amounts payable after more than one year | 42 | €5,189 | €9,882 | +€4,693 | +90.4% |
| Trade debts | 44 | €24,408 | €81,114 | +€56,706 | +232% |
| Suppliers | 440/4 | €24,408 | €81,114 | +€56,706 | +232% |
| Taxes, remuneration and social security | 45 | €0 | €11,209 | +€11,209 | |
| Taxes | 450/3 | €0 | €11,209 | +€11,209 | |
| Other amounts payable | 47/48 | €2,086 | €39,252 | +€37,165 | +1,781% |
| Accrued charges and deferred income | 492/3 | €14,581 | €17,834 | +€3,254 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,425 | €19,255 | +€7,830 | +68.5% |
| Other operating charges | 640/8 | €903 | €1,226 | +€323 | +35.8% |
| Gross operating margin | 9900 | €21,359 | €47,702 | +€26,342 | +123% |
| Operating profit (loss) | 9901 | €9,031 | €27,221 | +€18,189 | +201% |
| Financial charges | 65/66B | €3,321 | €3,498 | +€177 | +5.3% |
| Recurring financial charges | 65 | €3,321 | €3,498 | +€177 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €5,710 | €23,722 | +€18,012 | +315% |
| Income taxes | 67/77 | €1,594 | €6,068 | +€4,474 | +281% |
| Profit (loss) for the period | 9904 | €4,116 | €17,654 | +€13,538 | +329% |
| Profit (loss) for the period to be appropriated | 9905 | €4,116 | €17,654 | +€13,538 | +329% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.