GERUSO: 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.
GERUSO
Largest movements
- Tangible fixed assets +€27,271
up €27,271 (+137.3%), from €19,856 to €47,127
of which Land and buildings: +€35,736
- Current investments -€15,455
down €15,455 (-76.5%), from €20,202 to €4,747
- Receivables within one year +€10,797
up €10,797 (+37.4%), from €28,841 to €39,638
of which Trade receivables: +€11,066
- Deferred charges and accrued income -€1,490
down €1,490 (-47.9%), from €3,112 to €1,623
- Debts after one year +€27,399
up €27,399 (+192.4%), from €14,241 to €41,640
- Reserves -€5,721
down €5,721 (-15.3%), from €37,358 to €31,638
of which Distributable reserves: -€5,721
- Other debts -€3,514
down €3,514 (-64.6%), from €5,443 to €1,929
- Accrued charges and deferred income +€2,500
new in 2025: €2,500
- Current portion of long-term debt +€1,693
up €1,693 (+24.5%), from €6,907 to €8,601
- Depreciation -€7,621
down €7,621 (-41.7%), from €18,278 to €10,657
- Financial charges +€5,849
up €5,849 (+238.5%), from €2,452 to €8,301
- Gross operating margin -€4,587
down €4,587 (-22.2%), from €20,692 to €16,105
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €91,892 | €113,016 | +€21,124 | +23.0% |
| Fixed assets | 21/28 | €19,856 | €47,127 | +€27,271 | +137.3% |
| Tangible fixed assets | 22/27 | €19,856 | €47,127 | +€27,271 | +137.3% |
| Land and buildings | 22 | €9,640 | €45,376 | +€35,736 | +370.7% |
| Plant, machinery and equipment | 23 | €7,396 | €922 | -€6,474 | -87.5% |
| Furniture and vehicles | 24 | €2,820 | €829 | -€1,991 | -70.6% |
| Current assets | 29/58 | €72,037 | €65,889 | -€6,147 | -8.5% |
| Amounts receivable after more than one year | 29 | €19,881 | €19,881 | = | 0.0% |
| Trade receivables | 290 | €19,881 | €19,881 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,841 | €39,638 | +€10,797 | +37.4% |
| Trade receivables | 40 | €18,499 | €29,566 | +€11,066 | +59.8% |
| Other amounts receivable | 41 | €10,342 | €10,073 | -€269 | -2.6% |
| Current investments | 50/53 | €20,202 | €4,747 | -€15,455 | -76.5% |
| Deferred charges and accrued income | 490/1 | €3,112 | €1,623 | -€1,490 | -47.9% |
| Total equity and liabilities | 10/49 | €91,892 | €113,016 | +€21,124 | +23.0% |
| Equity | 10/15 | €57,358 | €51,638 | -€5,721 | -10.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €37,358 | €31,638 | -€5,721 | -15.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €35,358 | €29,638 | -€5,721 | -16.2% |
| Amounts payable | 17/49 | €34,534 | €61,379 | +€26,845 | +77.7% |
| Amounts payable after more than one year | 17 | €14,241 | €41,640 | +€27,399 | +192.4% |
| Financial debts | 170/4 | €14,241 | €41,640 | +€27,399 | +192.4% |
| Amounts payable within one year | 42/48 | €20,293 | €17,239 | -€3,055 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €6,907 | €8,601 | +€1,693 | +24.5% |
| Trade debts | 44 | €7,622 | €6,500 | -€1,122 | -14.7% |
| Suppliers | 440/4 | €7,622 | €6,500 | -€1,122 | -14.7% |
| Taxes, remuneration and social security | 45 | €321 | €209 | -€111 | -34.7% |
| Taxes | 450/3 | €321 | €209 | -€111 | -34.7% |
| Other amounts payable | 47/48 | €5,443 | €1,929 | -€3,514 | -64.6% |
| Accrued charges and deferred income | 492/3 | - | €2,500 | +€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,278 | €10,657 | -€7,621 | -41.7% |
| Other operating charges | 640/8 | €2,777 | €2,965 | +€188 | +6.8% |
| Gross operating margin | 9900 | €20,692 | €16,105 | -€4,587 | -22.2% |
| Operating profit (loss) | 9901 | -€363 | €2,483 | +€2,846 | |
| Financial income | 75/76B | €228 | €97 | -€131 | -57.4% |
| Recurring financial income | 75 | €228 | €97 | -€131 | -57.4% |
| Financial charges | 65/66B | €2,452 | €8,301 | +€5,849 | +238.5% |
| Recurring financial charges | 65 | €2,452 | €8,301 | +€5,849 | +238.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,587 | -€5,721 | -€3,134 | -121.1% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,587 | -€5,721 | -€3,134 | -121.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,587 | -€5,721 | -€3,134 | -121.1% |
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 9 October 2026 via checked.be.