GERT CLAES: 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 CLAES
Largest movements
- Tangible fixed assets +€35,514
up €35,514 (+225%), from €15,796 to €51,310
of which Leasing and similar rights: +€39,993
- Receivables within one year +€10,737
up €10,737 (+14.6%), from €73,443 to €84,180
of which Trade receivables: +€11,291
- Debts after one year +€32,031
new in 2025: €32,031
- Current portion of long-term debt +€8,126
new in 2025: €8,126
- Other debts +€5,700
up €5,700 (+14.9%), from €38,282 to €43,983
- Gross operating margin -€3,461
down €3,461 (-29.0%), from €11,929 to €8,468
- Depreciation -€910
down €910 (-16.4%), from €5,552 to €4,643
- Taxes -€814
down €814 (-43.7%), from €1,864 to €1,050
- Financial charges +€295
up €295 (+569%), from €52 to €346
- Other operating charges +€180
up €180 (+20.0%), from €898 to €1,078
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 | €93,075 | €140,847 | +€47,772 | +51.3% |
| Fixed assets | 21/28 | €15,846 | €51,360 | +€35,514 | +224% |
| Tangible fixed assets | 22/27 | €15,796 | €51,310 | +€35,514 | +225% |
| Plant, machinery and equipment | 23 | €1,237 | €701 | -€536 | -43.3% |
| Furniture and vehicles | 24 | €6,151 | €3,562 | -€2,589 | -42.1% |
| Leasing and similar rights | 25 | - | €39,993 | +€39,993 | |
| Other tangible fixed assets | 26 | €8,409 | €7,054 | -€1,355 | -16.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €77,229 | €89,488 | +€12,259 | +15.9% |
| Amounts receivable within one year | 40/41 | €73,443 | €84,180 | +€10,737 | +14.6% |
| Trade receivables | 40 | €70,780 | €82,071 | +€11,291 | +16.0% |
| Other amounts receivable | 41 | €2,663 | €2,109 | -€554 | -20.8% |
| Cash at bank and in hand | 54/58 | €3,069 | €3,238 | +€170 | +5.5% |
| Deferred charges and accrued income | 490/1 | €717 | €2,069 | +€1,352 | +189% |
| Total equity and liabilities | 10/49 | €93,075 | €140,847 | +€47,772 | +51.3% |
| Equity | 10/15 | €52,210 | €53,564 | +€1,354 | +2.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €21,223 | €22,577 | +€1,354 | +6.4% |
| Non-distributable reserves | 130/1 | €3,718 | - | -€3,718 | |
| Reserves not available under the articles | 1311 | €3,718 | - | -€3,718 | |
| Distributable reserves | 133 | €17,505 | €22,577 | +€5,072 | +29.0% |
| Amounts payable | 17/49 | €40,865 | €87,284 | +€46,419 | +114% |
| Amounts payable after more than one year | 17 | - | €32,031 | +€32,031 | |
| Financial debts | 170/4 | - | €32,031 | +€32,031 | |
| Amounts payable within one year | 42/48 | €40,865 | €55,216 | +€14,351 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | - | €8,126 | +€8,126 | |
| Trade debts | 44 | €830 | €946 | +€116 | +14.0% |
| Suppliers | 440/4 | €830 | €946 | +€116 | +14.0% |
| Taxes, remuneration and social security | 45 | €1,753 | €2,162 | +€409 | +23.3% |
| Taxes | 450/3 | €1,753 | €1,562 | -€191 | -10.9% |
| Remuneration and social security | 454/9 | - | €600 | +€600 | |
| Other amounts payable | 47/48 | €38,282 | €43,983 | +€5,700 | +14.9% |
| Accrued charges and deferred income | 492/3 | - | €37 | +€37 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,552 | €4,643 | -€910 | -16.4% |
| Other operating charges | 640/8 | €898 | €1,078 | +€180 | +20.0% |
| Gross operating margin | 9900 | €11,929 | €8,468 | -€3,461 | -29.0% |
| Operating profit (loss) | 9901 | €5,479 | €2,748 | -€2,731 | -49.8% |
| Financial income | 75/76B | €0 | €3 | +€3 | +25,400% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +25,400% |
| Financial charges | 65/66B | €52 | €346 | +€295 | +569% |
| Recurring financial charges | 65 | €52 | €346 | +€295 | +569% |
| Profit (loss) for the period before taxes | 9903 | €5,427 | €2,404 | -€3,023 | -55.7% |
| Income taxes | 67/77 | €1,864 | €1,050 | -€814 | -43.7% |
| Profit (loss) for the period | 9904 | €3,563 | €1,354 | -€2,209 | -62.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,563 | €1,354 | -€2,209 | -62.0% |
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.