GERTHO: what changed
Two fiscal 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.
GERTHO
Largest movements
- Cash -€338
down €338 (-50.2%), from €675 to €336
mainly Net result for the year (-€14,912) and Tax, wage and social debts (-€314)
- Receivables within one year -€65
down €65 (-30.6%), from €211 to €147
- Profit (loss) carried forward -€14,912
down €14,912 (-34.7%), from -€42,949 to -€57,862
- Other debts +€14,366
up €14,366 (+78.1%), from €18,389 to €32,755
- Trade debts +€464
new in 2025: €464
- Tax, wage and social debts -€314
down €314 (-71.5%), from €440 to €125
- Gross operating margin +€15,385
up €15,385 (+52.6%), from -€29,226 to -€13,841
- Financial charges -€6,295
down €6,295 (-97.5%), from €6,457 to €162
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.
Cash bridge derived
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 | €886 | €483 | -€403 | -45.5% |
| Current assets | 29/58 | €886 | €483 | -€403 | -45.5% |
| Amounts receivable within one year | 40/41 | €211 | €147 | -€65 | -30.6% |
| Other amounts receivable | 41 | €211 | €147 | -€65 | -30.6% |
| Cash at bank and in hand | 54/58 | €675 | €336 | -€338 | -50.2% |
| Total equity and liabilities | 10/49 | €886 | €483 | -€403 | -45.5% |
| Equity | 10/15 | -€17,949 | -€32,862 | -€14,912 | -83.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,949 | -€57,862 | -€14,912 | -34.7% |
| Amounts payable | 17/49 | €18,835 | €33,344 | +€14,509 | +77.0% |
| Amounts payable within one year | 42/48 | €18,829 | €33,344 | +€14,515 | +77.1% |
| Trade debts | 44 | - | €464 | +€464 | |
| Suppliers | 440/4 | - | €464 | +€464 | |
| Taxes, remuneration and social security | 45 | €440 | €125 | -€314 | -71.5% |
| Taxes | 450/3 | €440 | €125 | -€314 | -71.5% |
| Other amounts payable | 47/48 | €18,389 | €32,755 | +€14,366 | +78.1% |
| Accrued charges and deferred income | 492/3 | €6 | - | -€6 | |
| Other operating charges | 640/8 | €887 | €784 | -€104 | -11.7% |
| Non-recurring operating charges | 66A | €1,559 | - | -€1,559 | |
| Gross operating margin | 9900 | -€29,226 | -€13,841 | +€15,385 | +52.6% |
| Operating profit (loss) | 9901 | -€31,673 | -€14,625 | +€17,048 | +53.8% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €6,457 | €162 | -€6,295 | -97.5% |
| Recurring financial charges | 65 | €6,457 | €162 | -€6,295 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | -€38,123 | -€14,787 | +€23,336 | +61.2% |
| Income taxes | 67/77 | €249 | €125 | -€123 | -49.6% |
| Profit (loss) for the period | 9904 | -€38,372 | -€14,912 | +€23,460 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,372 | -€14,912 | +€23,460 | +61.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.