GERVO: 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.
GERVO
Largest movements
- Cash +€78,298
up €78,298 (+315%), from €24,849 to €103,147
mainly Net result for the year (+€185,369) and Tax, wage and social debts (+€24,658)
- Receivables within one year +€23,709
up €23,709 (+16.4%), from €144,764 to €168,473
of which Trade receivables: +€36,300
- Reserves +€185,369
up €185,369 (+10.0%), from €1.9m to €2.0m
- Current portion of long-term debt -€146,453
no longer reported in 2025 (was €146,453)
- Tax, wage and social debts +€24,658
up €24,658 (+406%), from €6,069 to €30,728
- Trade debts +€23,453
up €23,453 (+3,347%), from €701 to €24,154
- Financial income +€184,817
new in 2025: €184,817
- Taxes +€16,354
up €16,354 (+221%), from €7,387 to €23,740
- Gross operating margin -€10,495
down €10,495 (-28.7%), from €36,587 to €26,092
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 | €2,056,300 | €2,143,328 | +€87,028 | +4.2% |
| Fixed assets | 21/28 | €1,871,044 | €1,870,753 | -€291 | 0.0% |
| Tangible fixed assets | 22/27 | €1,044 | €753 | -€291 | -27.9% |
| Furniture and vehicles | 24 | €1,044 | €753 | -€291 | -27.9% |
| Financial fixed assets | 28 | €1,870,000 | €1,870,000 | = | 0.0% |
| Current assets | 29/58 | €185,256 | €272,575 | +€87,319 | +47.1% |
| Amounts receivable within one year | 40/41 | €144,764 | €168,473 | +€23,709 | +16.4% |
| Trade receivables | 40 | - | €36,300 | +€36,300 | |
| Other amounts receivable | 41 | €144,764 | €132,173 | -€12,591 | -8.7% |
| Cash at bank and in hand | 54/58 | €24,849 | €103,147 | +€78,298 | +315% |
| Deferred charges and accrued income | 490/1 | €15,642 | €954 | -€14,688 | -93.9% |
| Total equity and liabilities | 10/49 | €2,056,300 | €2,143,328 | +€87,028 | +4.2% |
| Equity | 10/15 | €1,903,077 | €2,088,446 | +€185,369 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,856,789 | €2,042,159 | +€185,369 | +10.0% |
| Distributable reserves | 133 | €1,856,789 | €2,042,159 | +€185,369 | +10.0% |
| Profit (loss) carried forward | 14 | €27,687 | €27,687 | = | 0.0% |
| Amounts payable | 17/49 | €153,223 | €54,882 | -€98,341 | -64.2% |
| Amounts payable within one year | 42/48 | €153,223 | €54,882 | -€98,341 | -64.2% |
| Current portion of amounts payable after more than one year | 42 | €146,453 | - | -€146,453 | |
| Trade debts | 44 | €701 | €24,154 | +€23,453 | +3,347% |
| Suppliers | 440/4 | €701 | €24,154 | +€23,453 | +3,347% |
| Taxes, remuneration and social security | 45 | €6,069 | €30,728 | +€24,658 | +406% |
| Taxes | 450/3 | €6,069 | €30,728 | +€24,658 | +406% |
| Non-recurring operating income | 76A | - | €6,784 | +€6,784 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120 | €291 | +€171 | +142% |
| Other operating charges | 640/8 | €1,183 | €1,267 | +€84 | +7.1% |
| Gross operating margin | 9900 | €36,587 | €26,092 | -€10,495 | -28.7% |
| Operating profit (loss) | 9901 | €35,284 | €24,534 | -€10,750 | -30.5% |
| Financial income | 75/76B | - | €184,817 | +€184,817 | |
| Recurring financial income | 75 | - | €184,817 | +€184,817 | |
| Financial charges | 65/66B | €210 | €242 | +€32 | +15.0% |
| Recurring financial charges | 65 | €210 | €242 | +€32 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €35,074 | €209,110 | +€174,036 | +496% |
| Income taxes | 67/77 | €7,387 | €23,740 | +€16,354 | +221% |
| Profit (loss) for the period | 9904 | €27,687 | €185,369 | +€157,682 | +570% |
| Profit (loss) for the period to be appropriated | 9905 | €27,687 | €185,369 | +€157,682 | +570% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.