GERT TRIEST: 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 TRIEST
Largest movements
- Cash +€677,244
up €677,244 (+180%), from €376,843 to €1.1m
mainly Current investments (+€478,291) and Net result for the year (+€349,919)
- Current investments -€478,291
down €478,291 (-100%), from €478,291 to €0
- Receivables within one year +€141,848
up €141,848 (+621,594%), from €23 to €141,871
- Tangible fixed assets -€50,231
down €50,231 (-6.4%), from €790,091 to €739,860
of which Land and buildings: -€61,028
- Deferred charges and accrued income -€26,815
down €26,815 (-24.8%), from €108,237 to €81,422
- Reserves +€349,919
up €349,919 (+26.7%), from €1.3m to €1.7m
of which Distributable reserves: +€349,919
- Other debts -€82,233
down €82,233 (-100%), from €82,233 to €0
- Gross operating margin +€59,487
up €59,487 (+9.6%), from €619,846 to €679,333
- Financial charges +€50,161
up €50,161 (+639%), from €7,852 to €58,013
- Financial income -€15,163
down €15,163 (-67.4%), from €22,497 to €7,335
- Depreciation +€7,801
up €7,801 (+7.9%), from €98,709 to €106,510
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 | €1,753,485 | €2,017,239 | +€263,754 | +15.0% |
| Fixed assets | 21/28 | €790,091 | €739,860 | -€50,231 | -6.4% |
| Tangible fixed assets | 22/27 | €790,091 | €739,860 | -€50,231 | -6.4% |
| Land and buildings | 22 | €745,352 | €684,324 | -€61,028 | -8.2% |
| Plant, machinery and equipment | 23 | €27,787 | €42,502 | +€14,715 | +53.0% |
| Furniture and vehicles | 24 | €16,952 | €13,034 | -€3,917 | -23.1% |
| Current assets | 29/58 | €963,394 | €1,277,379 | +€313,985 | +32.6% |
| Amounts receivable within one year | 40/41 | €23 | €141,871 | +€141,848 | +621,594% |
| Other amounts receivable | 41 | €23 | €141,871 | +€141,848 | +621,594% |
| Current investments | 50/53 | €478,291 | €0 | -€478,291 | -100% |
| Cash at bank and in hand | 54/58 | €376,843 | €1,054,086 | +€677,244 | +180% |
| Deferred charges and accrued income | 490/1 | €108,237 | €81,422 | -€26,815 | -24.8% |
| Total equity and liabilities | 10/49 | €1,753,485 | €2,017,239 | +€263,754 | +15.0% |
| Equity | 10/15 | €1,611,700 | €1,961,619 | +€349,919 | +21.7% |
| Contributions | 10/11 | €425,000 | €425,000 | = | 0.0% |
| Reserves | 13 | €1,312,003 | €1,661,922 | +€349,919 | +26.7% |
| Non-distributable reserves | 130/1 | €7,143 | €7,143 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,143 | €7,143 | = | 0.0% |
| Distributable reserves | 133 | €1,304,860 | €1,654,778 | +€349,919 | +26.8% |
| Profit (loss) carried forward | 14 | -€125,303 | -€125,303 | = | 0.0% |
| Amounts payable | 17/49 | €141,785 | €55,620 | -€86,165 | -60.8% |
| Amounts payable after more than one year | 17 | €3,300 | €3,300 | = | 0.0% |
| Other amounts payable | 178/9 | €3,300 | €3,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135,661 | €49,412 | -€86,249 | -63.6% |
| Trade debts | 44 | €13,204 | €13,069 | -€135 | -1.0% |
| Suppliers | 440/4 | €13,204 | €13,069 | -€135 | -1.0% |
| Taxes, remuneration and social security | 45 | €40,225 | €36,343 | -€3,881 | -9.6% |
| Taxes | 450/3 | €40,225 | €36,343 | -€3,881 | -9.6% |
| Other amounts payable | 47/48 | €82,233 | €0 | -€82,233 | -100% |
| Accrued charges and deferred income | 492/3 | €2,824 | €2,908 | +€85 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,709 | €106,510 | +€7,801 | +7.9% |
| Other operating charges | 640/8 | €10,644 | €10,823 | +€178 | +1.7% |
| Gross operating margin | 9900 | €619,846 | €679,333 | +€59,487 | +9.6% |
| Operating profit (loss) | 9901 | €510,492 | €562,000 | +€51,508 | +10.1% |
| Financial income | 75/76B | €22,497 | €7,335 | -€15,163 | -67.4% |
| Recurring financial income | 75 | €22,497 | €7,335 | -€15,163 | -67.4% |
| Financial charges | 65/66B | €7,852 | €58,013 | +€50,161 | +639% |
| Recurring financial charges | 65 | €7,852 | €58,013 | +€50,161 | +639% |
| Profit (loss) for the period before taxes | 9903 | €525,137 | €511,322 | -€13,816 | -2.6% |
| Income taxes | 67/77 | €165,034 | €161,403 | -€3,631 | -2.2% |
| Profit (loss) for the period | 9904 | €360,104 | €349,919 | -€10,185 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €360,104 | €349,919 | -€10,185 | -2.8% |
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 14 October 2026 via checked.be.