GUY GEERINCK: 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.
GUY GEERINCK
Largest movements
- Stocks and contracts -€31,786
no longer reported in 2025 (was €31,786)
- Receivables within one year +€7,151
up €7,151 (+73.6%), from €9,711 to €16,862
of which Other amounts receivable: +€6,091
- Short-term financial debts -€19,050
down €19,050 (-91.4%), from €20,849 to €1,799
- Trade debts -€4,758
down €4,758 (-69.6%), from €6,836 to €2,078
- Profit (loss) carried forward -€4,066
down €4,066 (-17.0%), from -€23,914 to -€27,980
- Advances received +€3,000
new in 2025: €3,000
- Gross operating margin -€4,899
down €4,899 (-80.0%), from €6,125 to €1,226
- Financial charges -€616
down €616 (-14.6%), from €4,219 to €3,603
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,931 | €17,079 | -€24,852 | -59.3% |
| Fixed assets | 21/28 | €434 | €217 | -€217 | -50.0% |
| Tangible fixed assets | 22/27 | €434 | €217 | -€217 | -50.0% |
| Plant, machinery and equipment | 23 | €434 | €217 | -€217 | -50.0% |
| Current assets | 29/58 | €41,497 | €16,862 | -€24,635 | -59.4% |
| Stocks and contracts in progress | 3 | €31,786 | - | -€31,786 | |
| Contracts in progress | 37 | €31,786 | - | -€31,786 | |
| Amounts receivable within one year | 40/41 | €9,711 | €16,862 | +€7,151 | +73.6% |
| Trade receivables | 40 | €2,188 | €3,248 | +€1,060 | +48.5% |
| Other amounts receivable | 41 | €7,523 | €13,614 | +€6,091 | +81.0% |
| Total equity and liabilities | 10/49 | €41,931 | €17,079 | -€24,852 | -59.3% |
| Equity | 10/15 | €11,697 | €7,632 | -€4,066 | -34.8% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €16,111 | €16,111 | = | 0.0% |
| Distributable reserves | 133 | €16,111 | €16,111 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,914 | -€27,980 | -€4,066 | -17.0% |
| Amounts payable | 17/49 | €30,234 | €9,447 | -€20,787 | -68.8% |
| Amounts payable within one year | 42/48 | €30,234 | €9,447 | -€20,787 | -68.8% |
| Financial debts | 43 | €20,849 | €1,799 | -€19,050 | -91.4% |
| Credit institutions | 430/8 | €20,849 | €1,799 | -€19,050 | -91.4% |
| Trade debts | 44 | €6,836 | €2,078 | -€4,758 | -69.6% |
| Suppliers | 440/4 | €6,836 | €2,078 | -€4,758 | -69.6% |
| Advances received on contracts in progress | 46 | - | €3,000 | +€3,000 | |
| Taxes, remuneration and social security | 45 | €2,549 | €2,570 | +€21 | +0.8% |
| Taxes | 450/3 | €2,549 | €2,570 | +€21 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217 | €217 | = | 0.0% |
| Other operating charges | 640/8 | €954 | €929 | -€25 | -2.6% |
| Gross operating margin | 9900 | €6,125 | €1,226 | -€4,899 | -80.0% |
| Operating profit (loss) | 9901 | €4,953 | €80 | -€4,874 | -98.4% |
| Financial charges | 65/66B | €4,219 | €3,603 | -€616 | -14.6% |
| Recurring financial charges | 65 | €4,219 | €3,603 | -€616 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €734 | -€3,523 | -€4,257 | |
| Income taxes | 67/77 | €580 | €543 | -€38 | -6.5% |
| Profit (loss) for the period | 9904 | €154 | -€4,066 | -€4,220 | |
| Profit (loss) for the period to be appropriated | 9905 | €154 | -€4,066 | -€4,220 |
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 22 October 2026 via checked.be.