H. Geens: 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.
H. Geens
Largest movements
- Receivables within one year -€227,736
down €227,736 (-40.5%), from €562,040 to €334,304
of which Trade receivables: -€125,809
- Stocks and contracts +€180,730
up €180,730 (+14.0%), from €1.3m to €1.5m
- Other debts +€101,235
up €101,235 (+27.0%), from €375,297 to €476,532
- Tax, wage and social debts -€71,071
down €71,071 (-66.2%), from €107,432 to €36,360
- Gross operating margin -€268,059
down €268,059, from €253,669 to -€14,390
- Taxes -€73,516
no longer reported in 2025 (was €73,516)
- Other operating charges -€69,036
down €69,036 (-94.9%), from €72,771 to €3,735
- Write-downs -€28,000
no longer reported in 2025 (was €28,000)
- Financial charges -€20,366
down €20,366 (-35.0%), from €58,174 to €37,808
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 | €7,098,265 | €7,066,532 | -€31,734 | -0.4% |
| Fixed assets | 21/28 | €5,233,376 | €5,233,376 | = | 0.0% |
| Tangible fixed assets | 22/27 | €233,376 | €233,376 | = | 0.0% |
| Land and buildings | 22 | €233,376 | €233,376 | = | 0.0% |
| Financial fixed assets | 28 | €5,000,000 | €5,000,000 | = | 0.0% |
| Current assets | 29/58 | €1,864,889 | €1,833,155 | -€31,734 | -1.7% |
| Stocks and contracts in progress | 3 | €1,295,290 | €1,476,020 | +€180,730 | +14.0% |
| Stocks | 30/36 | €1,295,290 | €1,476,020 | +€180,730 | +14.0% |
| Amounts receivable within one year | 40/41 | €562,040 | €334,304 | -€227,736 | -40.5% |
| Trade receivables | 40 | €269,659 | €143,850 | -€125,809 | -46.7% |
| Other amounts receivable | 41 | €292,381 | €190,454 | -€101,927 | -34.9% |
| Cash at bank and in hand | 54/58 | €2,862 | €19,607 | +€16,744 | +585% |
| Deferred charges and accrued income | 490/1 | €4,697 | €3,225 | -€1,473 | -31.3% |
| Total equity and liabilities | 10/49 | €7,098,265 | €7,066,532 | -€31,734 | -0.4% |
| Equity | 10/15 | €619,292 | €563,364 | -€55,928 | -9.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €557,292 | €501,364 | -€55,928 | -10.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,995 | €52,995 | = | 0.0% |
| Distributable reserves | 133 | €498,096 | €442,169 | -€55,928 | -11.2% |
| Amounts payable | 17/49 | €6,478,974 | €6,503,168 | +€24,194 | +0.4% |
| Amounts payable within one year | 42/48 | €6,478,974 | €6,503,168 | +€24,194 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €5,990,000 | €5,990,000 | = | 0.0% |
| Trade debts | 44 | €6,245 | €276 | -€5,969 | -95.6% |
| Suppliers | 440/4 | €6,245 | €276 | -€5,969 | -95.6% |
| Taxes, remuneration and social security | 45 | €107,432 | €36,360 | -€71,071 | -66.2% |
| Taxes | 450/3 | €107,432 | €36,360 | -€71,071 | -66.2% |
| Other amounts payable | 47/48 | €375,297 | €476,532 | +€101,235 | +27.0% |
| Non-recurring operating income | 76A | €140,586 | - | -€140,586 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €28,000 | - | -€28,000 | |
| Other operating charges | 640/8 | €72,771 | €3,735 | -€69,036 | -94.9% |
| Gross operating margin | 9900 | €253,669 | -€14,390 | -€268,059 | |
| Operating profit (loss) | 9901 | €152,898 | -€18,125 | -€171,023 | |
| Financial income | 75/76B | €5 | €5 | +€0 | +5.0% |
| Recurring financial income | 75 | €5 | €5 | +€0 | +5.0% |
| Financial charges | 65/66B | €58,174 | €37,808 | -€20,366 | -35.0% |
| Recurring financial charges | 65 | €58,174 | €37,808 | -€20,366 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €94,729 | -€55,928 | -€150,657 | |
| Income taxes | 67/77 | €73,516 | - | -€73,516 | |
| Profit (loss) for the period | 9904 | €21,213 | -€55,928 | -€77,141 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,213 | -€55,928 | -€77,141 |
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 26 October 2026 via checked.be.