Grégory GERON: 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.
Grégory GERON
Largest movements
- Receivables within one year +€44,848
up €44,848 (+40.8%), from €109,992 to €154,840
of which Trade receivables: +€39,692
- Tangible fixed assets +€31,410
up €31,410 (+29.2%), from €107,465 to €138,875
of which Furniture and vehicles: +€43,319
- Cash +€9,826
up €9,826 (+8.7%), from €113,182 to €123,008
mainly Net result for the year (+€100,972) and Debts after one year (+€41,494)
- Profit (loss) carried forward +€50,972
up €50,972 (+28.9%), from €176,133 to €227,106
- Debts after one year +€41,494
new in 2025: €41,494
- Other debts +€27,739
up €27,739 (+69.3%), from €40,000 to €67,739
- Trade debts -€27,063
down €27,063 (-67.8%), from €39,909 to €12,846
- Current portion of long-term debt -€6,969
down €6,969 (-24.2%), from €28,817 to €21,849
- Gross operating margin +€8,309
up €8,309 (+4.0%), from €209,128 to €217,437
- Depreciation -€4,339
down €4,339 (-14.6%), from €29,713 to €25,374
- Staff costs -€3,754
down €3,754 (-6.0%), from €63,044 to €59,291
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 | €344,239 | €426,208 | +€81,969 | +23.8% |
| Fixed assets | 21/28 | €108,559 | €139,760 | +€31,201 | +28.7% |
| Intangible fixed assets | 21 | €1,044 | €835 | -€209 | -20.0% |
| Tangible fixed assets | 22/27 | €107,465 | €138,875 | +€31,410 | +29.2% |
| Land and buildings | 22 | €72,557 | €59,272 | -€13,285 | -18.3% |
| Plant, machinery and equipment | 23 | €19,709 | €21,085 | +€1,376 | +7.0% |
| Furniture and vehicles | 24 | €15,199 | €58,518 | +€43,319 | +285% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €235,680 | €286,448 | +€50,768 | +21.5% |
| Amounts receivable within one year | 40/41 | €109,992 | €154,840 | +€44,848 | +40.8% |
| Trade receivables | 40 | €97,822 | €137,515 | +€39,692 | +40.6% |
| Other amounts receivable | 41 | €12,169 | €17,325 | +€5,156 | +42.4% |
| Cash at bank and in hand | 54/58 | €113,182 | €123,008 | +€9,826 | +8.7% |
| Deferred charges and accrued income | 490/1 | €12,506 | €8,600 | -€3,907 | -31.2% |
| Total equity and liabilities | 10/49 | €344,239 | €426,208 | +€81,969 | +23.8% |
| Equity | 10/15 | €212,063 | €261,272 | +€49,209 | +23.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,133 | €227,106 | +€50,972 | +28.9% |
| Investment grants | 15 | €15,470 | €13,706 | -€1,764 | -11.4% |
| Amounts payable | 17/49 | €132,176 | €164,936 | +€32,760 | +24.8% |
| Amounts payable after more than one year | 17 | - | €41,494 | +€41,494 | |
| Financial debts | 170/4 | - | €41,494 | +€41,494 | |
| Amounts payable within one year | 42/48 | €131,226 | €122,555 | -€8,671 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €28,817 | €21,849 | -€6,969 | -24.2% |
| Trade debts | 44 | €39,909 | €12,846 | -€27,063 | -67.8% |
| Suppliers | 440/4 | €39,909 | €12,846 | -€27,063 | -67.8% |
| Taxes, remuneration and social security | 45 | €22,499 | €20,121 | -€2,378 | -10.6% |
| Taxes | 450/3 | €19,557 | €18,474 | -€1,083 | -5.5% |
| Remuneration and social security | 454/9 | €2,942 | €1,647 | -€1,295 | -44.0% |
| Other amounts payable | 47/48 | €40,000 | €67,739 | +€27,739 | +69.3% |
| Accrued charges and deferred income | 492/3 | €951 | €888 | -€63 | -6.6% |
| Remuneration, social security and pensions | 62 | €63,044 | €59,291 | -€3,754 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,713 | €25,374 | -€4,339 | -14.6% |
| Other operating charges | 640/8 | €6,989 | €5,271 | -€1,718 | -24.6% |
| Gross operating margin | 9900 | €209,128 | €217,437 | +€8,309 | +4.0% |
| Operating profit (loss) | 9901 | €109,383 | €127,502 | +€18,120 | +16.6% |
| Financial income | 75/76B | €2,152 | €2,866 | +€714 | +33.2% |
| Recurring financial income | 75 | €2,152 | €2,866 | +€714 | +33.2% |
| Financial charges | 65/66B | €2,646 | €3,106 | +€460 | +17.4% |
| Recurring financial charges | 65 | €2,646 | €3,106 | +€460 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €108,889 | €127,262 | +€18,373 | +16.9% |
| Income taxes | 67/77 | €24,871 | €26,290 | +€1,419 | +5.7% |
| Profit (loss) for the period | 9904 | €84,018 | €100,972 | +€16,955 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €84,018 | €100,972 | +€16,955 | +20.2% |
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 16 October 2026 via checked.be.