'T GENOT: 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.
'T GENOT
Largest movements
- Cash -€60,278
down €60,278 (-39.8%), from €151,624 to €91,346
mainly Contributions, distributions and other (-€56,018) and Current investments (-€40,600)
- Current investments +€40,600
new in 2025: €40,600
- Tangible fixed assets -€14,562
down €14,562 (-37.2%), from €39,138 to €24,576
of which Furniture and vehicles: -€7,842
- Receivables within one year -€6,404
down €6,404 (-39.1%), from €16,375 to €9,971
of which Trade receivables: -€6,640
- Reserves -€31,882
down €31,882 (-34.0%), from €93,818 to €61,935
- Debts after one year -€9,605
down €9,605 (-49.5%), from €19,396 to €9,791
- Trade debts +€4,997
up €4,997 (+15.9%), from €31,510 to €36,507
- Tax, wage and social debts +€4,820
up €4,820 (+29.1%), from €16,554 to €21,374
of which Remuneration and social security: +€7,593
- Other debts -€4,641
down €4,641 (-20.6%), from €22,577 to €17,935
- Gross operating margin +€25,283
up €25,283 (+20.7%), from €122,054 to €147,337
- Staff costs +€23,347
up €23,347 (+30.4%), from €76,718 to €100,065
- Taxes +€4,098
up €4,098 (+158%), from €2,591 to €6,689
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 | €215,124 | €175,748 | -€39,376 | -18.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €39,138 | €24,576 | -€14,562 | -37.2% |
| Tangible fixed assets | 22/27 | €39,138 | €24,576 | -€14,562 | -37.2% |
| Land and buildings | 22 | €3,833 | €0 | -€3,833 | -100% |
| Plant, machinery and equipment | 23 | €143 | €1,253 | +€1,111 | +779% |
| Furniture and vehicles | 24 | €26,924 | €19,082 | -€7,842 | -29.1% |
| Other tangible fixed assets | 26 | €8,239 | €4,241 | -€3,998 | -48.5% |
| Current assets | 29/58 | €175,986 | €151,172 | -€24,814 | -14.1% |
| Stocks and contracts in progress | 3 | €7,987 | €9,255 | +€1,268 | +15.9% |
| Stocks | 30/36 | €7,987 | €9,255 | +€1,268 | +15.9% |
| Amounts receivable within one year | 40/41 | €16,375 | €9,971 | -€6,404 | -39.1% |
| Trade receivables | 40 | €14,073 | €7,433 | -€6,640 | -47.2% |
| Other amounts receivable | 41 | €2,302 | €2,538 | +€236 | +10.2% |
| Current investments | 50/53 | - | €40,600 | +€40,600 | |
| Cash at bank and in hand | 54/58 | €151,624 | €91,346 | -€60,278 | -39.8% |
| Total equity and liabilities | 10/49 | €215,124 | €175,748 | -€39,376 | -18.3% |
| Equity | 10/15 | €112,418 | €80,535 | -€31,882 | -28.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €93,818 | €61,935 | -€31,882 | -34.0% |
| Distributable reserves | 133 | €93,818 | €61,935 | -€31,882 | -34.0% |
| Amounts payable | 17/49 | €102,706 | €95,213 | -€7,493 | -7.3% |
| Amounts payable after more than one year | 17 | €19,396 | €9,791 | -€9,605 | -49.5% |
| Financial debts | 170/4 | €19,396 | €9,791 | -€9,605 | -49.5% |
| Amounts payable within one year | 42/48 | €83,310 | €85,422 | +€2,112 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €12,669 | €9,605 | -€3,064 | -24.2% |
| Trade debts | 44 | €31,510 | €36,507 | +€4,997 | +15.9% |
| Suppliers | 440/4 | €31,510 | €36,507 | +€4,997 | +15.9% |
| Taxes, remuneration and social security | 45 | €16,554 | €21,374 | +€4,820 | +29.1% |
| Taxes | 450/3 | €8,046 | €5,272 | -€2,773 | -34.5% |
| Remuneration and social security | 454/9 | €8,508 | €16,102 | +€7,593 | +89.2% |
| Other amounts payable | 47/48 | €22,577 | €17,935 | -€4,641 | -20.6% |
| Remuneration, social security and pensions | 62 | €76,718 | €100,065 | +€23,347 | +30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,441 | €16,062 | -€379 | -2.3% |
| Other operating charges | 640/8 | €790 | €817 | +€28 | +3.5% |
| Gross operating margin | 9900 | €122,054 | €147,337 | +€25,283 | +20.7% |
| Operating profit (loss) | 9901 | €28,105 | €30,392 | +€2,287 | +8.1% |
| Financial income | 75/76B | €932 | €2,076 | +€1,144 | +123% |
| Recurring financial income | 75 | €932 | €621 | -€311 | -33.4% |
| Non-recurring financial income | 76B | - | €1,455 | +€1,455 | |
| Financial charges | 65/66B | €1,876 | €1,644 | -€232 | -12.4% |
| Recurring financial charges | 65 | €1,876 | €1,644 | -€232 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €27,161 | €30,825 | +€3,663 | +13.5% |
| Income taxes | 67/77 | €2,591 | €6,689 | +€4,098 | +158% |
| Profit (loss) for the period | 9904 | €24,570 | €24,135 | -€435 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,570 | €24,135 | -€435 | -1.8% |
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 16 October 2026 via checked.be.