GEUVENS: 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.
GEUVENS
Largest movements
- Cash +€41,348
up €41,348 (+173%), from €23,925 to €65,273
mainly Net result for the year (+€58,819) and Depreciation (+€22,877)
- Tangible fixed assets -€12,992
down €12,992 (-7.9%), from €164,837 to €151,845
of which Furniture and vehicles: -€7,862
- Stocks and contracts -€7,000
down €7,000 (-10.3%), from €68,197 to €61,197
- Deferred charges and accrued income +€6,479
up €6,479 (+131%), from €4,959 to €11,438
- Reserves +€46,279
up €46,279 (+65.4%), from €70,814 to €117,093
- Debts after one year -€19,811
down €19,811 (-29.6%), from €66,918 to €47,107
- Accrued charges and deferred income +€12,008
new in 2025: €12,008
- Other debts -€11,030
down €11,030 (-11.4%), from €96,490 to €85,460
- Trade debts +€8,710
up €8,710 (+2,104%), from €414 to €9,124
- Gross operating margin +€49,335
up €49,335 (+73.6%), from €67,069 to €116,404
- Taxes +€14,028
up €14,028 (+123%), from €11,434 to €25,462
- Depreciation -€4,443
down €4,443 (-16.3%), from €27,321 to €22,877
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 | €288,416 | €313,479 | +€25,063 | +8.7% |
| Fixed assets | 21/28 | €164,837 | €151,845 | -€12,992 | -7.9% |
| Tangible fixed assets | 22/27 | €164,837 | €151,845 | -€12,992 | -7.9% |
| Land and buildings | 22 | €131,963 | €125,754 | -€6,210 | -4.7% |
| Plant, machinery and equipment | 23 | €14,195 | €15,274 | +€1,079 | +7.6% |
| Furniture and vehicles | 24 | €18,679 | €10,817 | -€7,862 | -42.1% |
| Current assets | 29/58 | €123,579 | €161,634 | +€38,055 | +30.8% |
| Stocks and contracts in progress | 3 | €68,197 | €61,197 | -€7,000 | -10.3% |
| Stocks | 30/36 | €68,197 | €61,197 | -€7,000 | -10.3% |
| Amounts receivable within one year | 40/41 | €26,498 | €23,725 | -€2,773 | -10.5% |
| Trade receivables | 40 | €21,906 | €23,079 | +€1,174 | +5.4% |
| Other amounts receivable | 41 | €4,592 | €646 | -€3,946 | -85.9% |
| Cash at bank and in hand | 54/58 | €23,925 | €65,273 | +€41,348 | +173% |
| Deferred charges and accrued income | 490/1 | €4,959 | €11,438 | +€6,479 | +131% |
| Total equity and liabilities | 10/49 | €288,416 | €313,479 | +€25,063 | +8.7% |
| Equity | 10/15 | €77,014 | €123,293 | +€46,279 | +60.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €70,814 | €117,093 | +€46,279 | +65.4% |
| Distributable reserves | 133 | €70,814 | €117,093 | +€46,279 | +65.4% |
| Amounts payable | 17/49 | €211,402 | €190,186 | -€21,216 | -10.0% |
| Amounts payable after more than one year | 17 | €66,918 | €47,107 | -€19,811 | -29.6% |
| Financial debts | 170/4 | €66,918 | €47,107 | -€19,811 | -29.6% |
| Amounts payable within one year | 42/48 | €144,483 | €131,071 | -€13,412 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €28,424 | €19,811 | -€8,613 | -30.3% |
| Trade debts | 44 | €414 | €9,124 | +€8,710 | +2,104% |
| Suppliers | 440/4 | €414 | €9,124 | +€8,710 | +2,104% |
| Taxes, remuneration and social security | 45 | €19,155 | €16,676 | -€2,479 | -12.9% |
| Taxes | 450/3 | €6,023 | €16,676 | +€10,653 | +177% |
| Remuneration and social security | 454/9 | €13,132 | - | -€13,132 | |
| Other amounts payable | 47/48 | €96,490 | €85,460 | -€11,030 | -11.4% |
| Accrued charges and deferred income | 492/3 | - | €12,008 | +€12,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,321 | €22,877 | -€4,443 | -16.3% |
| Other operating charges | 640/8 | €1,147 | €946 | -€200 | -17.5% |
| Gross operating margin | 9900 | €67,069 | €116,404 | +€49,335 | +73.6% |
| Operating profit (loss) | 9901 | €38,602 | €92,580 | +€53,978 | +140% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €7,204 | €8,299 | +€1,095 | +15.2% |
| Recurring financial charges | 65 | €7,204 | €8,299 | +€1,095 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €31,413 | €84,281 | +€52,868 | +168% |
| Income taxes | 67/77 | €11,434 | €25,462 | +€14,028 | +123% |
| Profit (loss) for the period | 9904 | €19,979 | €58,819 | +€38,840 | +194% |
| Profit (loss) for the period to be appropriated | 9905 | €19,979 | €58,819 | +€38,840 | +194% |
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 30 October 2026 via checked.be.