Le Germoir: 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.
Le Germoir
Largest movements
- Cash +€190,473
up €190,473 (+25.7%), from €740,012 to €930,486
mainly Net result for the year (+€119,768) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year -€23,523
down €23,523 (-8.1%), from €291,456 to €267,933
of which Other amounts receivable: -€16,508
- Tangible fixed assets +€21,411
up €21,411 (+22.5%), from €95,048 to €116,459
of which Plant, machinery and equipment: +€28,311
- Deferred charges and accrued income +€19,229
up €19,229 (+35.1%), from €54,831 to €74,060
- Reserves +€107,791
up €107,791 (+19.8%), from €544,812 to €652,603
- Debts within one year +€38,371
up €38,371 (+19.9%), from €192,672 to €231,043
of which Tax, wage and social debts: +€21,097
- Staff costs +€89,931
up €89,931 (+6.6%), from €1.4m to €1.4m
- Gross operating margin +€38,903
up €38,903 (+2.5%), from €1.6m to €1.6m
- Purchases and services +€25,084
up €25,084 (+4.6%), from €543,350 to €568,434
- Turnover +€20,707
up €20,707 (+3.0%), from €693,308 to €714,014
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 | €1,261,756 | €1,420,058 | +€158,302 | +12.5% |
| Fixed assets | 21/28 | €113,766 | €135,127 | +€21,361 | +18.8% |
| Tangible fixed assets | 22/27 | €95,048 | €116,459 | +€21,411 | +22.5% |
| Plant, machinery and equipment | 23 | €67,158 | €95,469 | +€28,311 | +42.2% |
| Furniture and vehicles | 24 | €27,890 | €20,991 | -€6,900 | -24.7% |
| Financial fixed assets | 28 | €18,718 | €18,668 | -€50 | -0.3% |
| Current assets | 29/58 | €1,147,990 | €1,284,931 | +€136,941 | +11.9% |
| Stocks and contracts in progress | 3 | €11,691 | €12,452 | +€761 | +6.5% |
| Stocks | 30/36 | €11,691 | €12,452 | +€761 | +6.5% |
| Amounts receivable within one year | 40/41 | €291,456 | €267,933 | -€23,523 | -8.1% |
| Trade receivables | 40 | €35,177 | €28,162 | -€7,015 | -19.9% |
| Other amounts receivable | 41 | €256,278 | €239,771 | -€16,508 | -6.4% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €740,012 | €930,486 | +€190,473 | +25.7% |
| Deferred charges and accrued income | 490/1 | €54,831 | €74,060 | +€19,229 | +35.1% |
| Total equity and liabilities | 10/49 | €1,261,756 | €1,420,058 | +€158,302 | +12.5% |
| Equity | 10/15 | €826,996 | €946,927 | +€119,930 | +14.5% |
| Contributions | 10/11 | €173,616 | €173,616 | = | 0.0% |
| Capital | 10 | €173,616 | €173,616 | = | 0.0% |
| Reserves | 13 | €544,812 | €652,603 | +€107,791 | +19.8% |
| Profit (loss) carried forward | 14 | €78,041 | €90,018 | +€11,977 | +15.3% |
| Investment grants | 15 | €30,527 | €30,690 | +€163 | +0.5% |
| Provisions and deferred taxes | 16 | €242,088 | €242,088 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,825 | €25,825 | = | 0.0% |
| Taxes | 161 | €8,000 | €8,000 | = | 0.0% |
| Environmental obligations | 163 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €7,825 | €7,825 | = | 0.0% |
| Amounts payable | 17/49 | €192,672 | €231,043 | +€38,371 | +19.9% |
| Amounts payable within one year | 42/48 | €192,672 | €231,043 | +€38,371 | +19.9% |
| Trade debts | 44 | €18,251 | €35,895 | +€17,644 | +96.7% |
| Suppliers | 440/4 | €18,251 | €35,895 | +€17,644 | +96.7% |
| Taxes, remuneration and social security | 45 | €174,051 | €195,148 | +€21,097 | +12.1% |
| Taxes | 450/3 | €27,933 | €33,407 | +€5,473 | +19.6% |
| Remuneration and social security | 454/9 | €146,117 | €161,741 | +€15,624 | +10.7% |
| Turnover | 70 | €693,308 | €714,014 | +€20,707 | +3.0% |
| Membership fees, donations, legacies and grants | 73 | €1,405,537 | €1,452,949 | +€47,412 | +3.4% |
| Non-recurring operating income | 76A | - | €370 | +€370 | |
| Goods, raw materials, services and sundry goods | 60/61 | €543,350 | €568,434 | +€25,084 | +4.6% |
| Remuneration, social security and pensions | 62 | €1,359,428 | €1,449,359 | +€89,931 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,491 | €32,159 | +€4,668 | +17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €531 | - | -€531 | |
| Other operating charges | 640/8 | €4,486 | €4,434 | -€52 | -1.2% |
| Gross operating margin | 9900 | €1,562,629 | €1,601,533 | +€38,903 | +2.5% |
| Operating profit (loss) | 9901 | €72,756 | €115,580 | +€42,824 | +58.9% |
| Financial income | 75/76B | €3,933 | €6,103 | +€2,170 | +55.2% |
| Recurring financial income | 75 | €3,045 | €6,103 | +€3,059 | +100% |
| Non-recurring financial income | 76B | €889 | - | -€889 | |
| Financial charges | 65/66B | -€220 | €408 | +€628 | |
| Recurring financial charges | 65 | -€225 | €408 | +€633 | |
| Non-recurring financial charges | 66B | €5 | - | -€5 | |
| Profit (loss) for the period before taxes | 9903 | €76,909 | €121,275 | +€44,366 | +57.7% |
| Income taxes | 67/77 | - | €1,507 | +€1,507 | |
| Profit (loss) for the period | 9904 | €76,909 | €119,768 | +€42,859 | +55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,909 | €119,768 | +€42,859 | +55.7% |
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 15 October 2026 via checked.be.