TOM GEENEN: 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.
TOM GEENEN
Largest movements
- Cash +€40,069
up €40,069 (+288%), from €13,905 to €53,975
mainly Trade debts (+€41,838) and Net result for the year (+€33,944)
- Receivables within one year -€17,277
down €17,277 (-26.6%), from €65,028 to €47,751
of which Other amounts receivable: -€54,839
- Tangible fixed assets +€6,039
up €6,039 (+73.1%), from €8,258 to €14,297
of which Furniture and vehicles: +€4,063
- Current investments +€2,250
up €2,250, from €0 to €2,250
- Deferred charges and accrued income -€2,013
down €2,013 (-78.2%), from €2,573 to €560
- Reserves -€49,248
down €49,248 (-53.5%), from €92,034 to €42,787
- Trade debts +€41,838
up €41,838 (+530%), from €7,887 to €49,725
- Profit (loss) carried forward +€29,818
up €29,818, from -€29,818 to €0
- Other debts +€5,727
new in 2025: €5,727
- Gross operating margin +€44,816
up €44,816 (+356%), from €12,574 to €57,390
- Financial charges -€32,745
down €32,745 (-97.1%), from €33,724 to €978
of which Non-recurring financial charges: -€32,555
- Taxes +€9,372
up €9,372 (+601%), from €1,559 to €10,931
- Depreciation +€1,513
up €1,513 (+22.4%), from €6,750 to €8,263
- Financial income -€1,461
down €1,461 (-99.0%), from €1,476 to €15
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 | €91,195 | €119,733 | +€28,538 | +31.3% |
| Fixed assets | 21/28 | €9,688 | €15,197 | +€5,509 | +56.9% |
| Tangible fixed assets | 22/27 | €8,258 | €14,297 | +€6,039 | +73.1% |
| Furniture and vehicles | 24 | €8,258 | €12,321 | +€4,063 | +49.2% |
| Other tangible fixed assets | 26 | - | €1,976 | +€1,976 | |
| Financial fixed assets | 28 | €1,430 | €900 | -€530 | -37.1% |
| Current assets | 29/58 | €81,507 | €104,536 | +€23,029 | +28.3% |
| Amounts receivable within one year | 40/41 | €65,028 | €47,751 | -€17,277 | -26.6% |
| Trade receivables | 40 | €662 | €38,224 | +€37,562 | +5,671% |
| Other amounts receivable | 41 | €64,366 | €9,527 | -€54,839 | -85.2% |
| Current investments | 50/53 | €0 | €2,250 | +€2,250 | |
| Cash at bank and in hand | 54/58 | €13,905 | €53,975 | +€40,069 | +288% |
| Deferred charges and accrued income | 490/1 | €2,573 | €560 | -€2,013 | -78.2% |
| Total equity and liabilities | 10/49 | €91,195 | €119,733 | +€28,538 | +31.3% |
| Equity | 10/15 | €68,416 | €48,987 | -€19,430 | -28.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €92,034 | €42,787 | -€49,248 | -53.5% |
| Distributable reserves | 133 | €92,034 | €42,787 | -€49,248 | -53.5% |
| Profit (loss) carried forward | 14 | -€29,818 | €0 | +€29,818 | |
| Amounts payable | 17/49 | €22,779 | €70,746 | +€47,967 | +211% |
| Amounts payable within one year | 42/48 | €22,779 | €70,746 | +€47,967 | +211% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €5,094 | €5,078 | -€16 | -0.3% |
| Credit institutions | 430/8 | €5,094 | €5,078 | -€16 | -0.3% |
| Trade debts | 44 | €7,887 | €49,725 | +€41,838 | +530% |
| Suppliers | 440/4 | €7,887 | €49,725 | +€41,838 | +530% |
| Taxes, remuneration and social security | 45 | €9,798 | €10,216 | +€418 | +4.3% |
| Taxes | 450/3 | €9,798 | €10,216 | +€418 | +4.3% |
| Other amounts payable | 47/48 | - | €5,727 | +€5,727 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,750 | €8,263 | +€1,513 | +22.4% |
| Other operating charges | 640/8 | €3,214 | €3,289 | +€75 | +2.3% |
| Gross operating margin | 9900 | €12,574 | €57,390 | +€44,816 | +356% |
| Operating profit (loss) | 9901 | €2,610 | €45,838 | +€43,228 | +1,656% |
| Financial income | 75/76B | €1,476 | €15 | -€1,461 | -99.0% |
| Recurring financial income | 75 | €1,476 | €15 | -€1,461 | -99.0% |
| Financial charges | 65/66B | €33,724 | €978 | -€32,745 | -97.1% |
| Recurring financial charges | 65 | €1,169 | €978 | -€190 | -16.3% |
| Non-recurring financial charges | 66B | €32,555 | €0 | -€32,555 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€29,637 | €44,875 | +€74,512 | |
| Income taxes | 67/77 | €1,559 | €10,931 | +€9,372 | +601% |
| Profit (loss) for the period | 9904 | -€31,196 | €33,944 | +€65,140 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,196 | €33,944 | +€65,140 |
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 29 October 2026 via checked.be.