GEUVER: 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.
GEUVER
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+199.3%), from €596,160 to €1.8m
of which Land and buildings: +€1.2m
- Revaluation surpluses +€1.2m
new in 2025: €1.2m
- Debts after one year -€50,000
down €50,000 (-17.5%), from €285,000 to €235,000
- Reserves +€23,700
up €23,700 (+9.7%), from €244,155 to €267,855
- Gross operating margin +€11,499
up €11,499 (+14.4%), from €79,674 to €91,173
- Taxes +€3,703
up €3,703 (+48.0%), from €7,715 to €11,418
- Depreciation +€1,673
up €1,673 (+4.3%), from €38,643 to €40,316
- Financial charges -€1,369
down €1,369 (-9.5%), from €14,360 to €12,991
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 | €639,627 | €1,813,032 | +€1.2m | +183.5% |
| Fixed assets | 21/28 | €596,212 | €1,784,391 | +€1.2m | +199.3% |
| Intangible fixed assets | 21 | €52 | - | -€52 | |
| Tangible fixed assets | 22/27 | €596,160 | €1,784,391 | +€1.2m | +199.3% |
| Land and buildings | 22 | €586,311 | €1,772,113 | +€1.2m | +202.2% |
| Plant, machinery and equipment | 23 | €3,675 | €2,704 | -€971 | -26.4% |
| Furniture and vehicles | 24 | €6,174 | €9,574 | +€3,400 | +55.1% |
| Current assets | 29/58 | €43,415 | €28,641 | -€14,774 | -34.0% |
| Amounts receivable within one year | 40/41 | €5,285 | €1,082 | -€4,203 | -79.5% |
| Other amounts receivable | 41 | €5,285 | €1,082 | -€4,203 | -79.5% |
| Cash at bank and in hand | 54/58 | €36,168 | €25,686 | -€10,482 | -29.0% |
| Deferred charges and accrued income | 490/1 | €1,962 | €1,872 | -€89 | -4.5% |
| Total equity and liabilities | 10/49 | €639,627 | €1,813,032 | +€1.2m | +183.5% |
| Equity | 10/15 | €332,755 | €1,549,461 | +€1.2m | +365.6% |
| Contributions | 10/11 | €88,600 | €88,600 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,193,006 | +€1.2m | |
| Reserves | 13 | €244,155 | €267,855 | +€23,700 | +9.7% |
| Distributable reserves | 133 | €244,155 | €267,855 | +€23,700 | +9.7% |
| Amounts payable | 17/49 | €306,872 | €263,571 | -€43,301 | -14.1% |
| Amounts payable after more than one year | 17 | €285,000 | €235,000 | -€50,000 | -17.5% |
| Financial debts | 170/4 | €285,000 | €235,000 | -€50,000 | -17.5% |
| Amounts payable within one year | 42/48 | €21,872 | €28,571 | +€6,699 | +30.6% |
| Trade debts | 44 | €1,755 | €5,922 | +€4,167 | +237.4% |
| Suppliers | 440/4 | €1,755 | €5,922 | +€4,167 | +237.4% |
| Taxes, remuneration and social security | 45 | €3,510 | €11,731 | +€8,221 | +234.2% |
| Taxes | 450/3 | €3,510 | €11,731 | +€8,221 | +234.2% |
| Other amounts payable | 47/48 | €16,607 | €10,918 | -€5,689 | -34.3% |
| Non-recurring operating income | 76A | €9,050 | - | -€9,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,643 | €40,316 | +€1,673 | +4.3% |
| Other operating charges | 640/8 | €2,143 | €2,552 | +€409 | +19.1% |
| Non-recurring operating charges | 66A | €777 | €202 | -€575 | -74.0% |
| Gross operating margin | 9900 | €79,674 | €91,173 | +€11,499 | +14.4% |
| Operating profit (loss) | 9901 | €38,110 | €48,102 | +€9,992 | +26.2% |
| Financial income | 75/76B | €6 | €7 | +€1 | +15.6% |
| Recurring financial income | 75 | €6 | €7 | +€1 | +15.6% |
| Financial charges | 65/66B | €14,360 | €12,991 | -€1,369 | -9.5% |
| Recurring financial charges | 65 | €14,360 | €12,991 | -€1,369 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €23,756 | €35,118 | +€11,362 | +47.8% |
| Income taxes | 67/77 | €7,715 | €11,418 | +€3,703 | +48.0% |
| Profit (loss) for the period | 9904 | €16,042 | €23,700 | +€7,659 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,042 | €23,700 | +€7,659 | +47.7% |
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.