GERT HAMERLINCK: 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 HAMERLINCK
Largest movements
- Current investments +€105,228
up €105,228 (+509%), from €20,691 to €125,918
- Cash -€78,081
down €78,081 (-52.9%), from €147,525 to €69,444
mainly Current investments (-€105,228) and Contributions, distributions and other (-€79,887)
- Tangible fixed assets +€31,602
up €31,602 (+7.0%), from €450,427 to €482,029
of which Furniture and vehicles: +€45,508
- Other debts +€49,147
up €49,147 (+127%), from €38,635 to €87,781
- Current portion of long-term debt +€9,152
up €9,152 (+28.0%), from €32,680 to €41,832
- Reserves +€8,933
up €8,933 (+2.2%), from €400,718 to €409,651
- Gross operating margin -€20,628
down €20,628 (-11.2%), from €184,855 to €164,227
- Depreciation +€10,112
up €10,112 (+49.2%), from €20,553 to €30,665
- Taxes -€7,580
down €7,580 (-16.1%), from €47,130 to €39,550
- Financial charges -€2,924
down €2,924 (-29.2%), from €10,007 to €7,083
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 | €766,614 | €830,763 | +€64,149 | +8.4% |
| Fixed assets | 21/28 | €450,427 | €482,029 | +€31,602 | +7.0% |
| Tangible fixed assets | 22/27 | €450,427 | €482,029 | +€31,602 | +7.0% |
| Land and buildings | 22 | €445,008 | €431,491 | -€13,517 | -3.0% |
| Furniture and vehicles | 24 | €2,850 | €48,358 | +€45,508 | +1,597% |
| Other tangible fixed assets | 26 | €2,569 | €2,180 | -€389 | -15.1% |
| Current assets | 29/58 | €316,187 | €348,735 | +€32,548 | +10.3% |
| Amounts receivable within one year | 40/41 | €144,328 | €144,470 | +€141 | +0.1% |
| Trade receivables | 40 | €74,525 | €70,448 | -€4,078 | -5.5% |
| Other amounts receivable | 41 | €69,803 | €74,022 | +€4,219 | +6.0% |
| Current investments | 50/53 | €20,691 | €125,918 | +€105,228 | +509% |
| Cash at bank and in hand | 54/58 | €147,525 | €69,444 | -€78,081 | -52.9% |
| Deferred charges and accrued income | 490/1 | €3,643 | €8,902 | +€5,259 | +144% |
| Total equity and liabilities | 10/49 | €766,614 | €830,763 | +€64,149 | +8.4% |
| Equity | 10/15 | €470,618 | €477,451 | +€6,833 | +1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €63,700 | €61,600 | -€2,100 | -3.3% |
| Reserves | 13 | €400,718 | €409,651 | +€8,933 | +2.2% |
| Distributable reserves | 133 | €400,718 | €409,651 | +€8,933 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €295,996 | €353,312 | +€57,316 | +19.4% |
| Amounts payable after more than one year | 17 | €173,097 | €169,922 | -€3,175 | -1.8% |
| Financial debts | 170/4 | €173,097 | €169,922 | -€3,175 | -1.8% |
| Amounts payable within one year | 42/48 | €120,582 | €180,200 | +€59,618 | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €32,680 | €41,832 | +€9,152 | +28.0% |
| Trade debts | 44 | €14,238 | €8,811 | -€5,428 | -38.1% |
| Suppliers | 440/4 | €14,238 | €8,811 | -€5,428 | -38.1% |
| Taxes, remuneration and social security | 45 | €35,028 | €41,776 | +€6,747 | +19.3% |
| Taxes | 450/3 | €35,028 | €41,776 | +€6,747 | +19.3% |
| Other amounts payable | 47/48 | €38,635 | €87,781 | +€49,147 | +127% |
| Accrued charges and deferred income | 492/3 | €2,317 | €3,190 | +€873 | +37.7% |
| Non-recurring operating income | 76A | €21,488 | €0 | -€21,488 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,553 | €30,665 | +€10,112 | +49.2% |
| Other operating charges | 640/8 | €5,333 | €5,103 | -€230 | -4.3% |
| Non-recurring operating charges | 66A | €358 | €0 | -€358 | -100% |
| Gross operating margin | 9900 | €184,855 | €164,227 | -€20,628 | -11.2% |
| Operating profit (loss) | 9901 | €158,611 | €128,459 | -€30,152 | -19.0% |
| Financial income | 75/76B | €4,712 | €4,894 | +€183 | +3.9% |
| Recurring financial income | 75 | €4,712 | €4,894 | +€183 | +3.9% |
| Financial charges | 65/66B | €10,007 | €7,083 | -€2,924 | -29.2% |
| Recurring financial charges | 65 | €10,007 | €7,083 | -€2,924 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €153,316 | €126,270 | -€27,046 | -17.6% |
| Income taxes | 67/77 | €47,130 | €39,550 | -€7,580 | -16.1% |
| Profit (loss) for the period | 9904 | €106,185 | €86,720 | -€19,465 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €106,185 | €86,720 | -€19,465 | -18.3% |
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 31 October 2026 via checked.be.