P. GERONNEZ: what changed
P. GERONNEZ
Largest movements
- Cash -€53,959
down €53,959 (-20.7%), from €261,287 to €207,328
mainly Net result for the year (-€90,392) and Contributions, distributions and other (-€30,803)
- Tangible fixed assets -€19,027
down €19,027 (-46.4%), from €40,981 to €21,954
of which Furniture and vehicles: -€13,239
- Stocks and contracts -€13,183
down €13,183 (-68.7%), from €19,183 to €6,000
- Receivables within one year +€5,988
up €5,988 (+21.0%), from €28,457 to €34,445
of which Other amounts receivable: +€9,200
- Profit (loss) carried forward -€90,392
down €90,392 (-30.3%), from €298,269 to €207,878
- Reserves -€30,803
down €30,803 (-64.6%), from €47,658 to €16,855
- Other debts +€30,803
up €30,803 (+3,170%), from €972 to €31,774
- Trade debts +€11,784
up €11,784 (+10,083%), from €117 to €11,901
- Gross operating margin -€104,095
down €104,095, from €36,742 to -€67,353
- Taxes -€2,781
down €2,781 (-84.5%), from €3,291 to €510
- Depreciation -€2,685
down €2,685 (-11.4%), from €23,616 to €20,931
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €357,748 | €279,038 | -€78,710 | -22.0% |
| Fixed assets | 21/28 | €41,440 | €22,077 | -€19,363 | -46.7% |
| Intangible fixed assets | 21 | €384 | €48 | -€336 | -87.5% |
| Tangible fixed assets | 22/27 | €40,981 | €21,954 | -€19,027 | -46.4% |
| Furniture and vehicles | 24 | €22,255 | €9,016 | -€13,239 | -59.5% |
| Other tangible fixed assets | 26 | €18,726 | €12,938 | -€5,788 | -30.9% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €316,308 | €256,960 | -€59,347 | -18.8% |
| Stocks and contracts in progress | 3 | €19,183 | €6,000 | -€13,183 | -68.7% |
| Stocks | 30/36 | €19,183 | €6,000 | -€13,183 | -68.7% |
| Amounts receivable within one year | 40/41 | €28,457 | €34,445 | +€5,988 | +21.0% |
| Trade receivables | 40 | €11,748 | €8,536 | -€3,212 | -27.3% |
| Other amounts receivable | 41 | €16,709 | €25,909 | +€9,200 | +55.1% |
| Cash at bank and in hand | 54/58 | €261,287 | €207,328 | -€53,959 | -20.7% |
| Deferred charges and accrued income | 490/1 | €7,381 | €9,187 | +€1,806 | +24.5% |
| Total equity and liabilities | 10/49 | €357,748 | €279,038 | -€78,710 | -22.0% |
| Equity | 10/15 | €353,427 | €232,233 | -€121,194 | -34.3% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €47,658 | €16,855 | -€30,803 | -64.6% |
| Distributable reserves | 133 | €47,658 | €16,855 | -€30,803 | -64.6% |
| Profit (loss) carried forward | 14 | €298,269 | €207,878 | -€90,392 | -30.3% |
| Amounts payable | 17/49 | €4,321 | €46,805 | +€42,484 | +983% |
| Amounts payable within one year | 42/48 | €4,321 | €46,805 | +€42,484 | +983% |
| Trade debts | 44 | €117 | €11,901 | +€11,784 | +10,083% |
| Suppliers | 440/4 | €117 | €11,901 | +€11,784 | +10,083% |
| Taxes, remuneration and social security | 45 | €3,232 | €3,130 | -€102 | -3.2% |
| Taxes | 450/3 | €3,232 | €3,130 | -€102 | -3.2% |
| Other amounts payable | 47/48 | €972 | €31,774 | +€30,803 | +3,170% |
| Remuneration, social security and pensions | 62 | €236 | - | -€236 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,616 | €20,931 | -€2,685 | -11.4% |
| Other operating charges | 640/8 | €1,381 | €1,332 | -€49 | -3.6% |
| Gross operating margin | 9900 | €36,742 | -€67,353 | -€104,095 | |
| Operating profit (loss) | 9901 | €11,509 | -€89,616 | -€101,125 | |
| Financial income | 75/76B | €45 | €71 | +€26 | +58.1% |
| Recurring financial income | 75 | €45 | €71 | +€26 | +58.1% |
| Financial charges | 65/66B | €330 | €336 | +€7 | +2.1% |
| Recurring financial charges | 65 | €330 | €336 | +€7 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €11,224 | -€89,882 | -€101,106 | |
| Income taxes | 67/77 | €3,291 | €510 | -€2,781 | -84.5% |
| Profit (loss) for the period | 9904 | €7,933 | -€90,392 | -€98,324 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,933 | -€90,392 | -€98,324 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.