JULIEN GELDER: 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.
JULIEN GELDER
Largest movements
- Deferred charges and accrued income -€2,892
no longer reported in 2025 (was €2,892)
- Cash -€2,254
down €2,254 (-26.6%), from €8,487 to €6,233
mainly Investment in fixed assets (net) (-€14,334) and Other debts (-€8,538)
- Receivables within one year -€1,633
down €1,633 (-6.2%), from €26,317 to €24,684
of which Trade receivables: -€1,633
- Other debts -€8,538
down €8,538 (-11.2%), from €76,200 to €67,662
- Trade debts +€1,947
up €1,947 (+217%), from €899 to €2,845
- Profit (loss) carried forward -€1,244
down €1,244 (-12.4%), from €10,049 to €8,804
- Gross operating margin -€11,334
down €11,334 (-43.1%), from €26,306 to €14,972
- Depreciation +€10,576
up €10,576 (+232%), from €4,567 to €15,143
- Taxes -€3,472
down €3,472 (-91.6%), from €3,789 to €317
- Financial charges -€730
down €730 (-55.7%), from €1,311 to €581
- Other operating charges -€497
down €497 (-73.9%), from €673 to €175
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 | €93,564 | €85,975 | -€7,588 | -8.1% |
| Fixed assets | 21/28 | €55,868 | €55,058 | -€810 | -1.4% |
| Tangible fixed assets | 22/27 | €55,868 | €55,058 | -€810 | -1.4% |
| Plant, machinery and equipment | 23 | - | €2,980 | +€2,980 | |
| Furniture and vehicles | 24 | €55,868 | €46,484 | -€9,384 | -16.8% |
| Other tangible fixed assets | 26 | - | €5,594 | +€5,594 | |
| Current assets | 29/58 | €37,696 | €30,917 | -€6,779 | -18.0% |
| Amounts receivable within one year | 40/41 | €26,317 | €24,684 | -€1,633 | -6.2% |
| Trade receivables | 40 | €25,107 | €23,474 | -€1,633 | -6.5% |
| Other amounts receivable | 41 | €1,211 | €1,211 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,487 | €6,233 | -€2,254 | -26.6% |
| Deferred charges and accrued income | 490/1 | €2,892 | - | -€2,892 | |
| Total equity and liabilities | 10/49 | €93,564 | €85,975 | -€7,588 | -8.1% |
| Equity | 10/15 | €10,149 | €8,904 | -€1,244 | -12.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,049 | €8,804 | -€1,244 | -12.4% |
| Amounts payable | 17/49 | €83,415 | €77,071 | -€6,344 | -7.6% |
| Amounts payable within one year | 42/48 | €83,415 | €76,875 | -€6,540 | -7.8% |
| Trade debts | 44 | €899 | €2,845 | +€1,947 | +217% |
| Suppliers | 440/4 | €899 | €2,845 | +€1,947 | +217% |
| Taxes, remuneration and social security | 45 | €6,316 | €6,368 | +€51 | +0.8% |
| Taxes | 450/3 | €1,142 | €4,222 | +€3,081 | +270% |
| Remuneration and social security | 454/9 | €5,174 | €2,145 | -€3,029 | -58.5% |
| Other amounts payable | 47/48 | €76,200 | €67,662 | -€8,538 | -11.2% |
| Accrued charges and deferred income | 492/3 | - | €196 | +€196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,567 | €15,143 | +€10,576 | +232% |
| Other operating charges | 640/8 | €673 | €175 | -€497 | -73.9% |
| Gross operating margin | 9900 | €26,306 | €14,972 | -€11,334 | -43.1% |
| Operating profit (loss) | 9901 | €21,066 | -€346 | -€21,412 | |
| Financial charges | 65/66B | €1,311 | €581 | -€730 | -55.7% |
| Recurring financial charges | 65 | €1,311 | €581 | -€730 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | €19,755 | -€927 | -€20,682 | |
| Income taxes | 67/77 | €3,789 | €317 | -€3,472 | -91.6% |
| Profit (loss) for the period | 9904 | €15,965 | -€1,244 | -€17,210 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,965 | -€1,244 | -€17,210 |
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 29 October 2026 via checked.be.