VAN GEERT JORGEN: 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.
VAN GEERT JORGEN
Largest movements
- Cash -€17,597
down €17,597 (-23.9%), from €73,576 to €55,980
mainly Contributions, distributions and other (-€24,000) and Receivables within one year (-€15,003)
- Receivables within one year +€15,003
up €15,003 (+118%), from €12,668 to €27,670
of which Trade receivables: +€9,044
- Tangible fixed assets -€9,245
down €9,245 (-12.6%), from €73,571 to €64,325
of which Leasing and similar rights: -€6,820
- Stocks and contracts -€7,889
down €7,889 (-25.4%), from €31,109 to €23,220
- Current investments +€6,000
up €6,000 (+15.3%), from €39,217 to €45,217
- Reserves -€24,000
down €24,000 (-18.2%), from €132,088 to €108,088
- Other debts +€15,039
up €15,039 (+198%), from €7,595 to €22,633
- Current portion of long-term debt -€8,074
down €8,074 (-100%), from €8,074 to €0
- Tax, wage and social debts +€3,282
up €3,282 (+29.0%), from €11,306 to €14,588
of which Remuneration and social security: +€5,933
- Gross operating margin -€13,764
down €13,764 (-10.1%), from €135,860 to €122,096
- Staff costs +€5,443
up €5,443 (+5.2%), from €104,464 to €109,907
- Financial charges -€3,953
down €3,953 (-96.7%), from €4,089 to €136
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 | €233,542 | €219,242 | -€14,300 | -6.1% |
| Fixed assets | 21/28 | €73,671 | €64,425 | -€9,245 | -12.5% |
| Tangible fixed assets | 22/27 | €73,571 | €64,325 | -€9,245 | -12.6% |
| Land and buildings | 22 | €65,551 | €61,578 | -€3,973 | -6.1% |
| Plant, machinery and equipment | 23 | €1,161 | €0 | -€1,161 | -100% |
| Furniture and vehicles | 24 | €39 | €2,748 | +€2,709 | +6,960% |
| Leasing and similar rights | 25 | €6,820 | €0 | -€6,820 | -100% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €159,871 | €154,816 | -€5,055 | -3.2% |
| Stocks and contracts in progress | 3 | €31,109 | €23,220 | -€7,889 | -25.4% |
| Stocks | 30/36 | €31,109 | €23,220 | -€7,889 | -25.4% |
| Amounts receivable within one year | 40/41 | €12,668 | €27,670 | +€15,003 | +118% |
| Trade receivables | 40 | €7,886 | €16,930 | +€9,044 | +115% |
| Other amounts receivable | 41 | €4,782 | €10,741 | +€5,959 | +125% |
| Current investments | 50/53 | €39,217 | €45,217 | +€6,000 | +15.3% |
| Cash at bank and in hand | 54/58 | €73,576 | €55,980 | -€17,597 | -23.9% |
| Deferred charges and accrued income | 490/1 | €3,302 | €2,729 | -€572 | -17.3% |
| Total equity and liabilities | 10/49 | €233,542 | €219,242 | -€14,300 | -6.1% |
| Equity | 10/15 | €157,088 | €130,973 | -€26,115 | -16.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €132,088 | €108,088 | -€24,000 | -18.2% |
| Distributable reserves | 133 | €132,088 | €108,088 | -€24,000 | -18.2% |
| Profit (loss) carried forward | 14 | €0 | -€2,115 | -€2,115 | |
| Amounts payable | 17/49 | €76,454 | €88,269 | +€11,814 | +15.5% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,022 | €47,524 | +€11,502 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €8,074 | €0 | -€8,074 | -100% |
| Trade debts | 44 | €9,047 | €10,303 | +€1,256 | +13.9% |
| Suppliers | 440/4 | €9,047 | €10,303 | +€1,256 | +13.9% |
| Taxes, remuneration and social security | 45 | €11,306 | €14,588 | +€3,282 | +29.0% |
| Taxes | 450/3 | €4,616 | €1,965 | -€2,651 | -57.4% |
| Remuneration and social security | 454/9 | €6,690 | €12,623 | +€5,933 | +88.7% |
| Other amounts payable | 47/48 | €7,595 | €22,633 | +€15,039 | +198% |
| Accrued charges and deferred income | 492/3 | €432 | €744 | +€312 | +72.2% |
| Remuneration, social security and pensions | 62 | €104,464 | €109,907 | +€5,443 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,930 | €11,586 | -€1,344 | -10.4% |
| Other operating charges | 640/8 | €2,897 | €2,360 | -€537 | -18.5% |
| Gross operating margin | 9900 | €135,860 | €122,096 | -€13,764 | -10.1% |
| Operating profit (loss) | 9901 | €15,569 | -€1,757 | -€17,326 | |
| Financial income | 75/76B | €29 | €28 | -€1 | -3.6% |
| Recurring financial income | 75 | €29 | €28 | -€1 | -3.6% |
| Financial charges | 65/66B | €4,089 | €136 | -€3,953 | -96.7% |
| Recurring financial charges | 65 | €4,089 | €136 | -€3,953 | -96.7% |
| Profit (loss) for the period before taxes | 9903 | €11,509 | -€1,865 | -€13,374 | |
| Income taxes | 67/77 | €427 | €249 | -€178 | -41.6% |
| Profit (loss) for the period | 9904 | €11,082 | -€2,115 | -€13,197 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,082 | -€2,115 | -€13,197 |
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 31 October 2026 via checked.be.