GEUDENS: 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.
GEUDENS
Largest movements
- Tangible fixed assets -€120,044
down €120,044 (-16.3%), from €734,497 to €614,453
of which Land and buildings: -€77,782
- Cash +€40,616
up €40,616 (+10.2%), from €398,607 to €439,223
mainly Depreciation (+€155,784) and Stocks and contracts (+€29,196)
- Stocks and contracts -€29,196
down €29,196 (-4.4%), from €670,518 to €641,322
- Trade debts -€99,502
down €99,502 (-17.8%), from €558,403 to €458,901
- Debts after one year -€91,683
down €91,683 (-18.1%), from €507,782 to €416,100
- Reserves +€27,605
up €27,605 (+3.7%), from €750,929 to €778,534
of which Distributable reserves: +€27,605
- Gross operating margin +€92,339
up €92,339 (+28.0%), from €329,233 to €421,572
- Depreciation +€8,484
up €8,484 (+5.8%), from €147,300 to €155,784
- Staff costs -€4,728
down €4,728 (-2.3%), from €203,445 to €198,717
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 | €2,312,989 | €2,184,652 | -€128,337 | -5.5% |
| Fixed assets | 21/28 | €755,873 | €619,629 | -€136,245 | -18.0% |
| Tangible fixed assets | 22/27 | €734,497 | €614,453 | -€120,044 | -16.3% |
| Land and buildings | 22 | €478,109 | €400,327 | -€77,782 | -16.3% |
| Plant, machinery and equipment | 23 | €75,904 | €59,654 | -€16,250 | -21.4% |
| Furniture and vehicles | 24 | €114,452 | €106,804 | -€7,648 | -6.7% |
| Leasing and similar rights | 25 | €66,032 | €47,668 | -€18,364 | -27.8% |
| Financial fixed assets | 28 | €21,376 | €5,175 | -€16,201 | -75.8% |
| Current assets | 29/58 | €1,557,115 | €1,565,023 | +€7,908 | +0.5% |
| Stocks and contracts in progress | 3 | €670,518 | €641,322 | -€29,196 | -4.4% |
| Stocks | 30/36 | €670,518 | €641,322 | -€29,196 | -4.4% |
| Amounts receivable within one year | 40/41 | €290,792 | €287,984 | -€2,808 | -1.0% |
| Trade receivables | 40 | €271,059 | €287,174 | +€16,115 | +5.9% |
| Other amounts receivable | 41 | €19,733 | €809 | -€18,923 | -95.9% |
| Current investments | 50/53 | €182,199 | €182,199 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €398,607 | €439,223 | +€40,616 | +10.2% |
| Deferred charges and accrued income | 490/1 | €14,999 | €14,295 | -€704 | -4.7% |
| Total equity and liabilities | 10/49 | €2,312,989 | €2,184,652 | -€128,337 | -5.5% |
| Equity | 10/15 | €812,929 | €840,534 | +€27,605 | +3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €750,929 | €778,534 | +€27,605 | +3.7% |
| Non-distributable reserves | 130/1 | €213,039 | €213,039 | = | 0.0% |
| Legal reserve | 130 | €30,840 | €30,840 | = | 0.0% |
| Own shares acquired | 1312 | €182,199 | €182,199 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,229 | €48,229 | = | 0.0% |
| Distributable reserves | 133 | €489,661 | €517,266 | +€27,605 | +5.6% |
| Amounts payable | 17/49 | €1,500,060 | €1,344,118 | -€155,942 | -10.4% |
| Amounts payable after more than one year | 17 | €507,782 | €416,100 | -€91,683 | -18.1% |
| Financial debts | 170/4 | €507,782 | €416,100 | -€91,683 | -18.1% |
| Amounts payable within one year | 42/48 | €992,278 | €928,018 | -€64,259 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €109,772 | €113,926 | +€4,154 | +3.8% |
| Trade debts | 44 | €558,403 | €458,901 | -€99,502 | -17.8% |
| Suppliers | 440/4 | €558,403 | €458,901 | -€99,502 | -17.8% |
| Advances received on contracts in progress | 46 | - | €5,985 | +€5,985 | |
| Taxes, remuneration and social security | 45 | €29,466 | €52,363 | +€22,897 | +77.7% |
| Taxes | 450/3 | €2,692 | €17,081 | +€14,389 | +535% |
| Remuneration and social security | 454/9 | €26,775 | €35,282 | +€8,508 | +31.8% |
| Other amounts payable | 47/48 | €294,636 | €296,843 | +€2,208 | +0.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €203,445 | €198,717 | -€4,728 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,300 | €155,784 | +€8,484 | +5.8% |
| Other operating charges | 640/8 | €14,825 | €16,487 | +€1,662 | +11.2% |
| Gross operating margin | 9900 | €329,233 | €421,572 | +€92,339 | +28.0% |
| Operating profit (loss) | 9901 | -€36,338 | €50,583 | +€86,921 | |
| Financial income | 75/76B | €13 | €21 | +€7 | +53.9% |
| Recurring financial income | 75 | €13 | €21 | +€7 | +53.9% |
| Financial charges | 65/66B | €23,377 | €19,988 | -€3,389 | -14.5% |
| Recurring financial charges | 65 | €23,377 | €19,988 | -€3,389 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | -€59,702 | €30,616 | +€90,318 | |
| Income taxes | 67/77 | €1,238 | €3,011 | +€1,773 | +143% |
| Profit (loss) for the period | 9904 | -€60,940 | €27,605 | +€88,544 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,940 | €27,605 | +€88,544 |
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 27 October 2026 via checked.be.