GEUENS: 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.
GEUENS
Largest movements
- Tangible fixed assets +€161,616
up €161,616 (+2,638%), from €6,128 to €167,743
of which Furniture and vehicles: +€163,134
- Receivables within one year +€26,849
up €26,849 (+144%), from €18,648 to €45,497
of which Trade receivables: +€20,545
- Cash -€5,328
down €5,328 (-21.2%), from €25,093 to €19,765
mainly Investment in fixed assets (net) (-€168,351) and Receivables within one year (-€26,849)
- Debts after one year +€123,146
new in 2025: €123,146
- Reserves +€24,369
up €24,369 (+108%), from €22,591 to €46,960
of which Distributable reserves: +€24,369
- Current portion of long-term debt +€21,854
new in 2025: €21,854
- Trade debts +€17,398
up €17,398 (+187%), from €9,325 to €26,723
- Tax, wage and social debts -€9,750
down €9,750 (-61.9%), from €15,754 to €6,003
- Gross operating margin +€20,648
up €20,648 (+39.3%), from €52,604 to €73,252
- Depreciation +€6,075
up €6,075 (+921%), from €660 to €6,735
- Financial charges +€2,689
up €2,689 (+78.1%), from €3,444 to €6,132
- Taxes +€1,808
up €1,808 (+26.1%), from €6,930 to €8,738
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 | €53,364 | €235,118 | +€181,753 | +341% |
| Fixed assets | 21/28 | €6,128 | €167,743 | +€161,616 | +2,638% |
| Tangible fixed assets | 22/27 | €6,128 | €167,743 | +€161,616 | +2,638% |
| Plant, machinery and equipment | 23 | €5,915 | €4,397 | -€1,518 | -25.7% |
| Furniture and vehicles | 24 | €213 | €163,347 | +€163,134 | +76,603% |
| Current assets | 29/58 | €47,237 | €67,374 | +€20,138 | +42.6% |
| Amounts receivable within one year | 40/41 | €18,648 | €45,497 | +€26,849 | +144% |
| Trade receivables | 40 | €12,984 | €33,529 | +€20,545 | +158% |
| Other amounts receivable | 41 | €5,664 | €11,968 | +€6,304 | +111% |
| Cash at bank and in hand | 54/58 | €25,093 | €19,765 | -€5,328 | -21.2% |
| Deferred charges and accrued income | 490/1 | €3,496 | €2,112 | -€1,383 | -39.6% |
| Total equity and liabilities | 10/49 | €53,364 | €235,118 | +€181,753 | +341% |
| Equity | 10/15 | €26,433 | €56,260 | +€29,827 | +113% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €22,591 | €46,960 | +€24,369 | +108% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €17,731 | €42,100 | +€24,369 | +137% |
| Profit (loss) carried forward | 14 | -€5,458 | €0 | +€5,458 | |
| Amounts payable | 17/49 | €26,931 | €178,858 | +€151,927 | +564% |
| Amounts payable after more than one year | 17 | - | €123,146 | +€123,146 | |
| Financial debts | 170/4 | - | €123,146 | +€123,146 | |
| Amounts payable within one year | 42/48 | €26,931 | €55,645 | +€28,713 | +107% |
| Current portion of amounts payable after more than one year | 42 | - | €21,854 | +€21,854 | |
| Trade debts | 44 | €9,325 | €26,723 | +€17,398 | +187% |
| Suppliers | 440/4 | €9,325 | €26,723 | +€17,398 | +187% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €15,754 | €6,003 | -€9,750 | -61.9% |
| Taxes | 450/3 | €15,754 | €6,003 | -€9,750 | -61.9% |
| Other amounts payable | 47/48 | €1,853 | €1,065 | -€788 | -42.5% |
| Accrued charges and deferred income | 492/3 | €0 | €67 | +€67 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €660 | €6,735 | +€6,075 | +921% |
| Other operating charges | 640/8 | €22,207 | €22,725 | +€518 | +2.3% |
| Gross operating margin | 9900 | €52,604 | €73,252 | +€20,648 | +39.3% |
| Operating profit (loss) | 9901 | €29,738 | €43,792 | +€14,054 | +47.3% |
| Financial income | 75/76B | €336 | €905 | +€569 | +169% |
| Recurring financial income | 75 | €336 | €905 | +€569 | +169% |
| Financial charges | 65/66B | €3,444 | €6,132 | +€2,689 | +78.1% |
| Recurring financial charges | 65 | €3,444 | €6,132 | +€2,689 | +78.1% |
| Profit (loss) for the period before taxes | 9903 | €26,630 | €38,565 | +€11,934 | +44.8% |
| Income taxes | 67/77 | €6,930 | €8,738 | +€1,808 | +26.1% |
| Profit (loss) for the period | 9904 | €19,701 | €29,827 | +€10,126 | +51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,701 | €29,827 | +€10,126 | +51.4% |
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 24 October 2026 via checked.be.