GEUNENS: 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.
GEUNENS
Largest movements
- Stocks and contracts +€9,524
up €9,524 (+73.1%), from €13,026 to €22,550
- Receivables within one year -€3,853
down €3,853 (-24.9%), from €15,483 to €11,630
of which Other amounts receivable: -€6,000
- Tangible fixed assets -€1,404
down €1,404 (-8.0%), from €17,462 to €16,058
of which Furniture and vehicles: -€1,700
- Trade debts +€4,333
up €4,333 (+78.2%), from €5,538 to €9,871
- Tax, wage and social debts -€3,816
down €3,816 (-66.1%), from €5,776 to €1,960
of which Taxes: -€2,927
- Other debts +€3,032
up €3,032 (+12.7%), from €23,918 to €26,950
- Staff costs -€19,445
down €19,445 (-49.6%), from €39,182 to €19,737
- Gross operating margin -€11,293
down €11,293 (-28.6%), from €39,431 to €28,138
- Other operating charges +€573
up €573 (+65.2%), from €879 to €1,452
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 | €48,261 | €51,821 | +€3,560 | +7.4% |
| Fixed assets | 21/28 | €17,732 | €16,058 | -€1,674 | -9.4% |
| Tangible fixed assets | 22/27 | €17,462 | €16,058 | -€1,404 | -8.0% |
| Plant, machinery and equipment | 23 | €14,141 | €14,437 | +€296 | +2.1% |
| Furniture and vehicles | 24 | €3,321 | €1,621 | -€1,700 | -51.2% |
| Financial fixed assets | 28 | €270 | - | -€270 | |
| Current assets | 29/58 | €30,529 | €35,763 | +€5,234 | +17.1% |
| Stocks and contracts in progress | 3 | €13,026 | €22,550 | +€9,524 | +73.1% |
| Stocks | 30/36 | €13,026 | €22,550 | +€9,524 | +73.1% |
| Amounts receivable within one year | 40/41 | €15,483 | €11,630 | -€3,853 | -24.9% |
| Trade receivables | 40 | €9,483 | €11,630 | +€2,147 | +22.6% |
| Other amounts receivable | 41 | €6,000 | - | -€6,000 | |
| Cash at bank and in hand | 54/58 | €2,020 | €1,583 | -€437 | -21.6% |
| Total equity and liabilities | 10/49 | €48,261 | €51,821 | +€3,560 | +7.4% |
| Equity | 10/15 | -€11,971 | -€11,960 | +€11 | +0.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €8,128 | €8,128 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €6,269 | €6,269 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,296 | -€26,285 | +€11 | 0.0% |
| Amounts payable | 17/49 | €60,232 | €63,781 | +€3,549 | +5.9% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,232 | €38,781 | +€3,549 | +10.1% |
| Trade debts | 44 | €5,538 | €9,871 | +€4,333 | +78.2% |
| Suppliers | 440/4 | €5,538 | €9,871 | +€4,333 | +78.2% |
| Taxes, remuneration and social security | 45 | €5,776 | €1,960 | -€3,816 | -66.1% |
| Taxes | 450/3 | €4,887 | €1,960 | -€2,927 | -59.9% |
| Remuneration and social security | 454/9 | €889 | - | -€889 | |
| Other amounts payable | 47/48 | €23,918 | €26,950 | +€3,032 | +12.7% |
| Non-recurring operating income | 76A | - | €2,613 | +€2,613 | |
| Remuneration, social security and pensions | 62 | €39,182 | €19,737 | -€19,445 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,527 | €6,404 | -€123 | -1.9% |
| Other operating charges | 640/8 | €879 | €1,452 | +€573 | +65.2% |
| Gross operating margin | 9900 | €39,431 | €28,138 | -€11,293 | -28.6% |
| Operating profit (loss) | 9901 | -€7,157 | €545 | +€7,702 | |
| Financial charges | 65/66B | €491 | €534 | +€43 | +8.8% |
| Recurring financial charges | 65 | €491 | €534 | +€43 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,648 | €11 | +€7,659 | |
| Profit (loss) for the period | 9904 | -€7,648 | €11 | +€7,659 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,648 | €11 | +€7,659 |
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 18 October 2026 via checked.be.