GERYL KURT: 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.
GERYL KURT
Largest movements
- Cash +€43,707
up €43,707 (+51.0%), from €85,749 to €129,455
mainly Net result for the year (+€42,316) and Depreciation (+€3,993)
- Tangible fixed assets -€3,993
down €3,993 (-48.6%), from €8,220 to €4,227
of which Plant, machinery and equipment: -€2,316
- Receivables within one year +€3,592
up €3,592 (+8.6%), from €41,900 to €45,492
of which Trade receivables: +€9,326
- Reserves +€41,282
up €41,282 (+34.5%), from €119,767 to €161,049
of which Distributable reserves: +€41,282
- Gross operating margin +€20,599
up €20,599 (+48.6%), from €42,352 to €62,952
- Taxes +€5,360
up €5,360 (+54.5%), from €9,841 to €15,201
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 | €138,590 | €181,882 | +€43,292 | +31.2% |
| Fixed assets | 21/28 | €8,220 | €4,227 | -€3,993 | -48.6% |
| Tangible fixed assets | 22/27 | €8,220 | €4,227 | -€3,993 | -48.6% |
| Plant, machinery and equipment | 23 | €4,005 | €1,689 | -€2,316 | -57.8% |
| Furniture and vehicles | 24 | €4,215 | €2,538 | -€1,677 | -39.8% |
| Current assets | 29/58 | €130,370 | €177,655 | +€47,285 | +36.3% |
| Stocks and contracts in progress | 3 | €2,018 | €1,985 | -€32 | -1.6% |
| Stocks | 30/36 | €2,018 | €1,985 | -€32 | -1.6% |
| Amounts receivable within one year | 40/41 | €41,900 | €45,492 | +€3,592 | +8.6% |
| Trade receivables | 40 | €33,137 | €42,463 | +€9,326 | +28.1% |
| Other amounts receivable | 41 | €8,763 | €3,029 | -€5,734 | -65.4% |
| Cash at bank and in hand | 54/58 | €85,749 | €129,455 | +€43,707 | +51.0% |
| Deferred charges and accrued income | 490/1 | €704 | €722 | +€18 | +2.6% |
| Total equity and liabilities | 10/49 | €138,590 | €181,882 | +€43,292 | +31.2% |
| Equity | 10/15 | €132,167 | €173,449 | +€41,282 | +31.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €119,767 | €161,049 | +€41,282 | +34.5% |
| Tax-exempt reserves | 132 | €30,091 | €30,091 | = | 0.0% |
| Distributable reserves | 133 | €89,676 | €130,958 | +€41,282 | +46.0% |
| Amounts payable | 17/49 | €6,422 | €8,433 | +€2,010 | +31.3% |
| Amounts payable within one year | 42/48 | €6,422 | €8,433 | +€2,010 | +31.3% |
| Trade debts | 44 | €4,215 | €4,636 | +€422 | +10.0% |
| Suppliers | 440/4 | €4,215 | €4,636 | +€422 | +10.0% |
| Taxes, remuneration and social security | 45 | €2,208 | €3,797 | +€1,589 | +71.9% |
| Taxes | 450/3 | €2,208 | €3,797 | +€1,589 | +71.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,399 | €3,993 | -€406 | -9.2% |
| Other operating charges | 640/8 | €1,584 | €1,986 | +€402 | +25.4% |
| Gross operating margin | 9900 | €42,352 | €62,952 | +€20,599 | +48.6% |
| Operating profit (loss) | 9901 | €36,369 | €56,973 | +€20,603 | +56.7% |
| Financial income | 75/76B | €1,179 | €879 | -€300 | -25.4% |
| Recurring financial income | 75 | €1,179 | €879 | -€300 | -25.4% |
| Financial charges | 65/66B | €265 | €335 | +€70 | +26.5% |
| Recurring financial charges | 65 | €265 | €335 | +€70 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €37,284 | €57,517 | +€20,233 | +54.3% |
| Income taxes | 67/77 | €9,841 | €15,201 | +€5,360 | +54.5% |
| Profit (loss) for the period | 9904 | €27,443 | €42,316 | +€14,873 | +54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,443 | €42,316 | +€14,873 | +54.2% |
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.