Geurts Power: 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.
Geurts Power
Largest movements
- Stocks and contracts +€110,882
up €110,882 (+37.0%), from €299,473 to €410,355
- Cash +€98,820
up €98,820 (+166%), from €59,416 to €158,236
mainly Advances received (+€109,311) and Net result for the year (+€69,588)
- Receivables within one year +€21,019
up €21,019 (+78.3%), from €26,844 to €47,863
of which Other amounts receivable: +€12,813
- Advances received +€109,311
new in 2025: €109,311
- Reserves +€69,588
up €69,588 (+47.3%), from €147,077 to €216,666
- Other debts +€44,283
new in 2025: €44,283
- Trade debts +€17,915
up €17,915 (+319%), from €5,609 to €23,524
- Short-term financial debts +€14,929
up €14,929 (+59.5%), from €25,071 to €40,000
- Gross operating margin -€79,768
down €79,768 (-41.6%), from €191,589 to €111,821
- Taxes -€16,445
down €16,445 (-37.7%), from €43,625 to €27,180
- Financial charges +€12,163
up €12,163 (+1,717%), from €708 to €12,871
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 | €386,896 | €622,364 | +€235,469 | +60.9% |
| Fixed assets | 21/28 | €1,014 | €3,766 | +€2,752 | +271% |
| Tangible fixed assets | 22/27 | €1,014 | €3,766 | +€2,752 | +271% |
| Furniture and vehicles | 24 | €1,014 | €3,766 | +€2,752 | +271% |
| Current assets | 29/58 | €385,882 | €618,598 | +€232,717 | +60.3% |
| Stocks and contracts in progress | 3 | €299,473 | €410,355 | +€110,882 | +37.0% |
| Stocks | 30/36 | €299,473 | €410,355 | +€110,882 | +37.0% |
| Amounts receivable within one year | 40/41 | €26,844 | €47,863 | +€21,019 | +78.3% |
| Trade receivables | 40 | €26,844 | €35,050 | +€8,206 | +30.6% |
| Other amounts receivable | 41 | - | €12,813 | +€12,813 | |
| Cash at bank and in hand | 54/58 | €59,416 | €158,236 | +€98,820 | +166% |
| Deferred charges and accrued income | 490/1 | €150 | €2,145 | +€1,995 | +1,333% |
| Total equity and liabilities | 10/49 | €386,896 | €622,364 | +€235,469 | +60.9% |
| Equity | 10/15 | €149,577 | €219,166 | +€69,588 | +46.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €147,077 | €216,666 | +€69,588 | +47.3% |
| Distributable reserves | 133 | €147,077 | €216,666 | +€69,588 | +47.3% |
| Amounts payable | 17/49 | €237,318 | €403,199 | +€165,880 | +69.9% |
| Amounts payable after more than one year | 17 | €167,582 | €156,909 | -€10,673 | -6.4% |
| Financial debts | 170/4 | €167,582 | €156,909 | -€10,673 | -6.4% |
| Amounts payable within one year | 42/48 | €69,736 | €246,289 | +€176,554 | +253% |
| Financial debts | 43 | €25,071 | €40,000 | +€14,929 | +59.5% |
| Credit institutions | 430/8 | €25,071 | €40,000 | +€14,929 | +59.5% |
| Trade debts | 44 | €5,609 | €23,524 | +€17,915 | +319% |
| Suppliers | 440/4 | €5,609 | €23,524 | +€17,915 | +319% |
| Advances received on contracts in progress | 46 | - | €109,311 | +€109,311 | |
| Taxes, remuneration and social security | 45 | €39,056 | €29,171 | -€9,886 | -25.3% |
| Taxes | 450/3 | €39,056 | €29,171 | -€9,886 | -25.3% |
| Other amounts payable | 47/48 | - | €44,283 | +€44,283 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31 | €973 | +€942 | +2,998% |
| Other operating charges | 640/8 | €457 | €1,228 | +€771 | +169% |
| Gross operating margin | 9900 | €191,589 | €111,821 | -€79,768 | -41.6% |
| Operating profit (loss) | 9901 | €191,101 | €109,620 | -€81,480 | -42.6% |
| Financial income | 75/76B | €310 | €19 | -€291 | -93.9% |
| Recurring financial income | 75 | €310 | €19 | -€291 | -93.9% |
| Financial charges | 65/66B | €708 | €12,871 | +€12,163 | +1,717% |
| Recurring financial charges | 65 | €708 | €12,871 | +€12,163 | +1,717% |
| Profit (loss) for the period before taxes | 9903 | €190,702 | €96,768 | -€93,934 | -49.3% |
| Income taxes | 67/77 | €43,625 | €27,180 | -€16,445 | -37.7% |
| Profit (loss) for the period | 9904 | €147,077 | €69,588 | -€77,489 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €147,077 | €69,588 | -€77,489 | -52.7% |
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 21 October 2026 via checked.be.