Laurent 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.
Laurent GERON
Largest movements
- Tangible fixed assets +€13,899
up €13,899 (+45.3%), from €30,699 to €44,598
of which Plant, machinery and equipment: +€16,023
- Cash -€6,019
down €6,019 (-16.6%), from €36,339 to €30,320
mainly Investment in fixed assets (net) (-€32,046) and Receivables within one year (-€4,472)
- Receivables within one year +€4,472
up €4,472 (+67.5%), from €6,626 to €11,098
of which Other amounts receivable: +€3,865
- Reserves +€18,861
up €18,861 (+43.3%), from €43,557 to €62,417
- Current portion of long-term debt -€4,389
down €4,389 (-54.3%), from €8,078 to €3,689
- Debts after one year -€3,689
down €3,689 (-66.7%), from €5,533 to €1,844
- Other debts -€2,574
down €2,574 (-24.7%), from €10,422 to €7,849
- Tax, wage and social debts +€2,404
up €2,404 (+351%), from €684 to €3,088
- Gross operating margin +€15,156
up €15,156 (+63.3%), from €23,931 to €39,088
- Depreciation +€5,032
up €5,032 (+38.4%), from €13,115 to €18,147
- Taxes +€1,879
up €1,879 (+1,346%), from €140 to €2,018
- Financial income -€1,681
down €1,681 (-46.7%), from €3,600 to €1,919
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 | €76,125 | €88,287 | +€12,162 | +16.0% |
| Fixed assets | 21/28 | €32,881 | €46,780 | +€13,899 | +42.3% |
| Tangible fixed assets | 22/27 | €30,699 | €44,598 | +€13,899 | +45.3% |
| Plant, machinery and equipment | 23 | €25,971 | €41,994 | +€16,023 | +61.7% |
| Furniture and vehicles | 24 | €4,728 | €2,604 | -€2,124 | -44.9% |
| Financial fixed assets | 28 | €2,182 | €2,182 | = | 0.0% |
| Current assets | 29/58 | €43,245 | €41,507 | -€1,737 | -4.0% |
| Amounts receivable within one year | 40/41 | €6,626 | €11,098 | +€4,472 | +67.5% |
| Trade receivables | 40 | €1,123 | €1,730 | +€607 | +54.1% |
| Other amounts receivable | 41 | €5,503 | €9,368 | +€3,865 | +70.2% |
| Cash at bank and in hand | 54/58 | €36,339 | €30,320 | -€6,019 | -16.6% |
| Deferred charges and accrued income | 490/1 | €280 | €90 | -€190 | -67.8% |
| Total equity and liabilities | 10/49 | €76,125 | €88,287 | +€12,162 | +16.0% |
| Equity | 10/15 | €47,180 | €66,040 | +€18,861 | +40.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €43,557 | €62,417 | +€18,861 | +43.3% |
| Distributable reserves | 133 | €43,557 | €62,417 | +€18,861 | +43.3% |
| Profit (loss) carried forward | 14 | -€21,377 | -€21,377 | = | 0.0% |
| Amounts payable | 17/49 | €28,945 | €22,247 | -€6,699 | -23.1% |
| Amounts payable after more than one year | 17 | €5,533 | €1,844 | -€3,689 | -66.7% |
| Financial debts | 170/4 | €5,533 | €1,844 | -€3,689 | -66.7% |
| Amounts payable within one year | 42/48 | €23,412 | €20,402 | -€3,010 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €8,078 | €3,689 | -€4,389 | -54.3% |
| Trade debts | 44 | €4,228 | €5,777 | +€1,549 | +36.6% |
| Suppliers | 440/4 | €4,228 | €5,777 | +€1,549 | +36.6% |
| Taxes, remuneration and social security | 45 | €684 | €3,088 | +€2,404 | +351% |
| Taxes | 450/3 | €684 | €3,088 | +€2,404 | +351% |
| Other amounts payable | 47/48 | €10,422 | €7,849 | -€2,574 | -24.7% |
| Remuneration, social security and pensions | 62 | €678 | €596 | -€82 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,115 | €18,147 | +€5,032 | +38.4% |
| Other operating charges | 640/8 | €1,009 | €829 | -€180 | -17.8% |
| Gross operating margin | 9900 | €23,931 | €39,088 | +€15,156 | +63.3% |
| Operating profit (loss) | 9901 | €9,129 | €19,516 | +€10,387 | +114% |
| Financial income | 75/76B | €3,600 | €1,919 | -€1,681 | -46.7% |
| Recurring financial income | 75 | €3,600 | €1,919 | -€1,681 | -46.7% |
| Financial charges | 65/66B | €652 | €556 | -€96 | -14.7% |
| Recurring financial charges | 65 | €652 | €556 | -€96 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €12,077 | €20,879 | +€8,801 | +72.9% |
| Income taxes | 67/77 | €140 | €2,018 | +€1,879 | +1,346% |
| Profit (loss) for the period | 9904 | €11,938 | €18,861 | +€6,923 | +58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,938 | €18,861 | +€6,923 | +58.0% |
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 1 November 2026 via checked.be.