MADE BY GEERT: 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.
MADE BY GEERT
Largest movements
- Cash +€13,047
up €13,047 (+768%), from €1,699 to €14,746
mainly Net result for the year (+€25,265) and Depreciation (+€4,021)
- Tangible fixed assets -€4,065
down €4,065 (-21.2%), from €19,170 to €15,105
of which Furniture and vehicles: -€2,086
- Deferred charges and accrued income +€3,659
up €3,659 (+1,172%), from €312 to €3,971
- Receivables within one year -€2,263
down €2,263 (-4.2%), from €53,284 to €51,020
of which Other amounts receivable: -€15,048
- Reserves +€18,629
up €18,629 (+39.5%), from €47,218 to €65,847
- Short-term financial debts -€8,950
down €8,950 (-100%), from €8,950 to €0
- Tax, wage and social debts -€8,752
down €8,752 (-60.2%), from €14,548 to €5,795
of which Taxes: -€6,402
- Profit (loss) carried forward +€5,804
up €5,804, from -€5,804 to €0
- Trade debts +€3,519
up €3,519 (+71.1%), from €4,953 to €8,471
- Gross operating margin +€36,716
up €36,716 (+404%), from €9,095 to €45,811
- Taxes +€9,418
up €9,418 (+943%), from €999 to €10,417
- Other operating charges -€3,943
down €3,943 (-72.6%), from €5,431 to €1,487
- Depreciation -€629
down €629 (-13.5%), from €4,650 to €4,021
- Financial income -€522
down €522 (-52.2%), from €1,001 to €478
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 | €74,464 | €85,546 | +€11,082 | +14.9% |
| Fixed assets | 21/28 | €19,170 | €15,809 | -€3,361 | -17.5% |
| Intangible fixed assets | 21 | - | €704 | +€704 | |
| Tangible fixed assets | 22/27 | €19,170 | €15,105 | -€4,065 | -21.2% |
| Plant, machinery and equipment | 23 | €96 | €0 | -€96 | -100% |
| Furniture and vehicles | 24 | €4,156 | €2,070 | -€2,086 | -50.2% |
| Other tangible fixed assets | 26 | €14,918 | €13,035 | -€1,883 | -12.6% |
| Current assets | 29/58 | €55,295 | €69,737 | +€14,442 | +26.1% |
| Amounts receivable within one year | 40/41 | €53,284 | €51,020 | -€2,263 | -4.2% |
| Trade receivables | 40 | €32,874 | €45,659 | +€12,785 | +38.9% |
| Other amounts receivable | 41 | €20,410 | €5,362 | -€15,048 | -73.7% |
| Cash at bank and in hand | 54/58 | €1,699 | €14,746 | +€13,047 | +768% |
| Deferred charges and accrued income | 490/1 | €312 | €3,971 | +€3,659 | +1,172% |
| Total equity and liabilities | 10/49 | €74,464 | €85,546 | +€11,082 | +14.9% |
| Equity | 10/15 | €46,014 | €70,447 | +€24,432 | +53.1% |
| Contributions | 10/11 | €4,600 | €4,600 | = | 0.0% |
| Reserves | 13 | €47,218 | €65,847 | +€18,629 | +39.5% |
| Distributable reserves | 133 | €47,218 | €65,847 | +€18,629 | +39.5% |
| Profit (loss) carried forward | 14 | -€5,804 | €0 | +€5,804 | |
| Amounts payable | 17/49 | €28,450 | €15,100 | -€13,351 | -46.9% |
| Amounts payable within one year | 42/48 | €28,450 | €15,100 | -€13,351 | -46.9% |
| Financial debts | 43 | €8,950 | €0 | -€8,950 | -100% |
| Credit institutions | 430/8 | €8,950 | €0 | -€8,950 | -100% |
| Trade debts | 44 | €4,953 | €8,471 | +€3,519 | +71.1% |
| Suppliers | 440/4 | €4,953 | €8,471 | +€3,519 | +71.1% |
| Taxes, remuneration and social security | 45 | €14,548 | €5,795 | -€8,752 | -60.2% |
| Taxes | 450/3 | €12,198 | €5,795 | -€6,402 | -52.5% |
| Remuneration and social security | 454/9 | €2,350 | €0 | -€2,350 | -100% |
| Other amounts payable | 47/48 | €0 | €833 | +€833 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,650 | €4,021 | -€629 | -13.5% |
| Other operating charges | 640/8 | €5,431 | €1,487 | -€3,943 | -72.6% |
| Non-recurring operating charges | 66A | - | €90 | +€90 | |
| Gross operating margin | 9900 | €9,095 | €45,811 | +€36,716 | +404% |
| Operating profit (loss) | 9901 | -€985 | €40,213 | +€41,199 | |
| Financial income | 75/76B | €1,001 | €478 | -€522 | -52.2% |
| Recurring financial income | 75 | €1,001 | €478 | -€522 | -52.2% |
| Financial charges | 65/66B | €4,820 | €5,009 | +€189 | +3.9% |
| Recurring financial charges | 65 | €4,820 | €5,009 | +€189 | +3.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€4,805 | €35,682 | +€40,487 | |
| Income taxes | 67/77 | €999 | €10,417 | +€9,418 | +943% |
| Profit (loss) for the period | 9904 | -€5,804 | €25,265 | +€31,069 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,804 | €25,265 | +€31,069 |
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.