GEURTS: what changed
Two fiscal 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.
GEURTS
Largest movements
- Receivables within one year -€40,428
down €40,428 (-70.7%), from €57,209 to €16,782
of which Other amounts receivable: -€40,460
- Tangible fixed assets -€7,409
down €7,409 (-2.4%), from €306,266 to €298,857
of which Plant, machinery and equipment: -€7,263
- Other debts -€50,475
down €50,475 (-96.4%), from €52,375 to €1,900
- Gross operating margin -€11,778
down €11,778 (-37.2%), from €31,625 to €19,847
- Depreciation -€11,006
down €11,006 (-59.8%), from €18,415 to €7,409
- Other operating charges +€4,879
up €4,879 (+123.2%), from €3,959 to €8,837
- Taxes -€1,499
down €1,499 (-58.6%), from €2,559 to €1,060
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.
Cash bridge derived
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 | €513,255 | €464,899 | -€48,355 | -9.4% |
| Fixed assets | 21/28 | €306,516 | €299,107 | -€7,409 | -2.4% |
| Tangible fixed assets | 22/27 | €306,266 | €298,857 | -€7,409 | -2.4% |
| Land and buildings | 22 | €287,209 | €287,063 | -€146 | -0.1% |
| Plant, machinery and equipment | 23 | €19,057 | €11,795 | -€7,263 | -38.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €206,738 | €165,792 | -€40,946 | -19.8% |
| Amounts receivable within one year | 40/41 | €57,209 | €16,782 | -€40,428 | -70.7% |
| Trade receivables | 40 | €1,617 | €1,650 | +€33 | +2.0% |
| Other amounts receivable | 41 | €55,592 | €15,132 | -€40,460 | -72.8% |
| Cash at bank and in hand | 54/58 | €147,585 | €146,993 | -€592 | -0.4% |
| Deferred charges and accrued income | 490/1 | €1,944 | €2,017 | +€73 | +3.8% |
| Total equity and liabilities | 10/49 | €513,255 | €464,899 | -€48,355 | -9.4% |
| Equity | 10/15 | €459,258 | €459,846 | +€588 | +0.1% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Revaluation surpluses | 12 | €235,411 | €235,411 | = | 0.0% |
| Reserves | 13 | €61,847 | €62,435 | +€588 | +1.0% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,640 | €12,640 | = | 0.0% |
| Distributable reserves | 133 | €33,007 | €33,595 | +€588 | +1.8% |
| Amounts payable | 17/49 | €53,997 | €5,054 | -€48,943 | -90.6% |
| Amounts payable within one year | 42/48 | €53,997 | €5,054 | -€48,943 | -90.6% |
| Trade debts | 44 | €225 | €3,154 | +€2,928 | +1299.3% |
| Suppliers | 440/4 | €225 | €3,154 | +€2,928 | +1299.3% |
| Taxes, remuneration and social security | 45 | €1,397 | - | -€1,397 | |
| Taxes | 450/3 | €1,397 | - | -€1,397 | |
| Other amounts payable | 47/48 | €52,375 | €1,900 | -€50,475 | -96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,415 | €7,409 | -€11,006 | -59.8% |
| Other operating charges | 640/8 | €3,959 | €8,837 | +€4,879 | +123.2% |
| Gross operating margin | 9900 | €31,625 | €19,847 | -€11,778 | -37.2% |
| Operating profit (loss) | 9901 | €9,250 | €3,600 | -€5,650 | -61.1% |
| Financial charges | 65/66B | €39 | €53 | +€14 | +34.9% |
| Recurring financial charges | 65 | €39 | €53 | +€14 | +34.9% |
| Profit (loss) for the period before taxes | 9903 | €9,211 | €3,548 | -€5,664 | -61.5% |
| Income taxes | 67/77 | €2,559 | €1,060 | -€1,499 | -58.6% |
| Profit (loss) for the period | 9904 | €6,653 | €2,488 | -€4,164 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,653 | €2,488 | -€4,164 | -62.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.