GHEROS: 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.
GHEROS
Largest movements
- Cash +€129,922
up €129,922 (+778%), from €16,702 to €146,624
mainly Receivables within one year (+€109,211) and Depreciation (+€15,236)
- Receivables within one year -€109,211
down €109,211 (-52.2%), from €209,322 to €100,111
of which Other amounts receivable: -€100,000
- Tangible fixed assets -€15,236
down €15,236 (-4.8%), from €317,702 to €302,466
of which Land and buildings: -€12,403
- Reserves +€8,817
up €8,817 (+3.0%), from €293,776 to €302,593
of which Distributable reserves: +€15,150
- Gross operating margin -€12,082
down €12,082 (-34.0%), from €35,516 to €23,433
- Write-downs -€3,759
down €3,759 (-100%), from €3,759 to €0
- Financial income +€3,137
up €3,137 (+46.5%), from €6,748 to €9,884
- Taxes -€1,173
down €1,173 (-16.4%), from €7,171 to €5,998
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 | €652,649 | €658,918 | +€6,268 | +1.0% |
| Fixed assets | 21/28 | €317,702 | €302,466 | -€15,236 | -4.8% |
| Tangible fixed assets | 22/27 | €317,702 | €302,466 | -€15,236 | -4.8% |
| Land and buildings | 22 | €312,805 | €300,401 | -€12,403 | -4.0% |
| Plant, machinery and equipment | 23 | €4,897 | €2,065 | -€2,832 | -57.8% |
| Current assets | 29/58 | €334,947 | €356,452 | +€21,504 | +6.4% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €209,322 | €100,111 | -€109,211 | -52.2% |
| Trade receivables | 40 | €34,322 | €25,111 | -€9,211 | -26.8% |
| Other amounts receivable | 41 | €175,000 | €75,000 | -€100,000 | -57.1% |
| Cash at bank and in hand | 54/58 | €16,702 | €146,624 | +€129,922 | +778% |
| Deferred charges and accrued income | 490/1 | €8,923 | €9,716 | +€793 | +8.9% |
| Total equity and liabilities | 10/49 | €652,649 | €658,918 | +€6,268 | +1.0% |
| Equity | 10/15 | €605,776 | €614,593 | +€8,817 | +1.5% |
| Contributions | 10/11 | €312,000 | €312,000 | = | 0.0% |
| Capital | 10 | €312,000 | €312,000 | = | 0.0% |
| Issued capital | 100 | €312,000 | €312,000 | = | 0.0% |
| Reserves | 13 | €293,776 | €302,593 | +€8,817 | +3.0% |
| Non-distributable reserves | 130/1 | €13,883 | €14,680 | +€797 | +5.7% |
| Legal reserve | 130 | €13,883 | €14,680 | +€797 | +5.7% |
| Tax-exempt reserves | 132 | €114,094 | €106,963 | -€7,131 | -6.3% |
| Distributable reserves | 133 | €165,800 | €180,950 | +€15,150 | +9.1% |
| Provisions and deferred taxes | 16 | €38,031 | €35,654 | -€2,377 | -6.3% |
| Deferred taxes | 168 | €38,031 | €35,654 | -€2,377 | -6.3% |
| Amounts payable | 17/49 | €8,842 | €8,671 | -€172 | -1.9% |
| Amounts payable within one year | 42/48 | €8,842 | €8,464 | -€378 | -4.3% |
| Trade debts | 44 | €826 | €1,068 | +€242 | +29.3% |
| Suppliers | 440/4 | €826 | €1,068 | +€242 | +29.3% |
| Taxes, remuneration and social security | 45 | €8,017 | €7,397 | -€620 | -7.7% |
| Taxes | 450/3 | €8,017 | €7,397 | -€620 | -7.7% |
| Accrued charges and deferred income | 492/3 | - | €206 | +€206 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,236 | €15,236 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,759 | €0 | -€3,759 | -100% |
| Other operating charges | 640/8 | €5,764 | €5,600 | -€164 | -2.9% |
| Gross operating margin | 9900 | €35,516 | €23,433 | -€12,082 | -34.0% |
| Operating profit (loss) | 9901 | €10,756 | €2,598 | -€8,159 | -75.8% |
| Financial income | 75/76B | €6,748 | €9,884 | +€3,137 | +46.5% |
| Recurring financial income | 75 | €6,748 | €9,884 | +€3,137 | +46.5% |
| Financial charges | 65/66B | €39 | €44 | +€5 | +12.5% |
| Recurring financial charges | 65 | €39 | €44 | +€5 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €17,465 | €12,438 | -€5,027 | -28.8% |
| Transfer from deferred taxes | 780 | €2,377 | €2,377 | = | 0.0% |
| Income taxes | 67/77 | €7,171 | €5,998 | -€1,173 | -16.4% |
| Profit (loss) for the period | 9904 | €12,671 | €8,817 | -€3,854 | -30.4% |
| Transfer from tax-exempt reserves | 789 | €7,131 | €7,131 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,802 | €15,948 | -€3,854 | -19.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.