GROUP GERAERTS: 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.
GROUP GERAERTS
Largest movements
- Receivables within one year -€181,529
down €181,529 (-100%), from €181,529 to €0
of which Trade receivables: -€174,700
- Tangible fixed assets +€92,621
up €92,621 (+10.2%), from €906,533 to €999,155
of which Furniture and vehicles: +€157,072
- Cash +€12,356
up €12,356 (+1,082%), from €1,142 to €13,498
mainly Receivables within one year (+€181,529) and Debts after one year (+€80,672)
- Trade debts -€208,589
down €208,589 (-79.1%), from €263,793 to €55,204
- Debts after one year +€80,672
up €80,672 (+15.9%), from €508,599 to €589,271
- Reserves +€25,755
up €25,755 (+75.1%), from €34,273 to €60,029
- Other debts +€22,612
up €22,612 (+23.1%), from €97,707 to €120,319
- Gross operating margin -€46,574
down €46,574 (-25.4%), from €183,242 to €136,668
- Depreciation -€9,854
down €9,854 (-13.1%), from €75,233 to €65,379
- Financial charges -€5,854
down €5,854 (-18.3%), from €32,011 to €26,157
- Taxes -€2,186
down €2,186 (-17.6%), from €12,419 to €10,234
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 | €1,097,695 | €1,013,859 | -€83,836 | -7.6% |
| Fixed assets | 21/28 | €906,533 | €999,155 | +€92,621 | +10.2% |
| Tangible fixed assets | 22/27 | €906,533 | €999,155 | +€92,621 | +10.2% |
| Land and buildings | 22 | €905,425 | €841,251 | -€64,174 | -7.1% |
| Furniture and vehicles | 24 | - | €157,072 | +€157,072 | |
| Other tangible fixed assets | 26 | €1,108 | €831 | -€277 | -25.0% |
| Current assets | 29/58 | €191,162 | €14,705 | -€176,457 | -92.3% |
| Amounts receivable within one year | 40/41 | €181,529 | €0 | -€181,529 | -100% |
| Trade receivables | 40 | €174,700 | €0 | -€174,700 | -100% |
| Other amounts receivable | 41 | €6,829 | €0 | -€6,829 | -100% |
| Cash at bank and in hand | 54/58 | €1,142 | €13,498 | +€12,356 | +1,082% |
| Deferred charges and accrued income | 490/1 | €8,490 | €1,207 | -€7,284 | -85.8% |
| Total equity and liabilities | 10/49 | €1,097,695 | €1,013,859 | -€83,836 | -7.6% |
| Equity | 10/15 | €97,424 | €123,179 | +€25,755 | +26.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,273 | €60,029 | +€25,755 | +75.1% |
| Distributable reserves | 133 | €34,273 | €60,029 | +€25,755 | +75.1% |
| Profit (loss) carried forward | 14 | €44,550 | €44,550 | = | 0.0% |
| Amounts payable | 17/49 | €1,000,271 | €890,680 | -€109,592 | -11.0% |
| Amounts payable after more than one year | 17 | €508,599 | €589,271 | +€80,672 | +15.9% |
| Financial debts | 170/4 | €508,599 | €589,271 | +€80,672 | +15.9% |
| Amounts payable within one year | 42/48 | €484,573 | €298,280 | -€186,294 | -38.4% |
| Current portion of amounts payable after more than one year | 42 | €91,492 | €95,328 | +€3,836 | +4.2% |
| Trade debts | 44 | €263,793 | €55,204 | -€208,589 | -79.1% |
| Suppliers | 440/4 | €263,793 | €55,204 | -€208,589 | -79.1% |
| Taxes, remuneration and social security | 45 | €31,581 | €27,429 | -€4,153 | -13.1% |
| Taxes | 450/3 | €21,981 | €27,429 | +€5,447 | +24.8% |
| Remuneration and social security | 454/9 | €9,600 | €0 | -€9,600 | -100% |
| Other amounts payable | 47/48 | €97,707 | €120,319 | +€22,612 | +23.1% |
| Accrued charges and deferred income | 492/3 | €7,099 | €3,130 | -€3,969 | -55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,233 | €65,379 | -€9,854 | -13.1% |
| Other operating charges | 640/8 | €9,335 | €9,143 | -€192 | -2.1% |
| Gross operating margin | 9900 | €183,242 | €136,668 | -€46,574 | -25.4% |
| Operating profit (loss) | 9901 | €98,674 | €62,146 | -€36,527 | -37.0% |
| Financial income | 75/76B | €3 | €0 | -€3 | -96.9% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -96.9% |
| Financial charges | 65/66B | €32,011 | €26,157 | -€5,854 | -18.3% |
| Recurring financial charges | 65 | €32,011 | €26,157 | -€5,854 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €66,666 | €35,989 | -€30,677 | -46.0% |
| Income taxes | 67/77 | €12,419 | €10,234 | -€2,186 | -17.6% |
| Profit (loss) for the period | 9904 | €54,246 | €25,755 | -€28,491 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €54,246 | €25,755 | -€28,491 | -52.5% |
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 20 October 2026 via checked.be.