Veerle GERAERTS: what changed
What changed
Veerle GERAERTS
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€30,877
2024 · €33,983-€64,861
Equity
-€183,529
2024 · -€152,651-€30,877
Cash
€84,436
2024 · €208,565-€124,129
Balance sheet total
€477,636
2024 · €655,771-€178,135
Largest movements
Assets
- Cash -€124,129
down €124,129 (-59.5%), from €208,565 to €84,436
mainly Debts after one year (-€135,752) and Net result for the year (-€30,877)
- Tangible fixed assets -€61,537
down €61,537 (-13.9%), from €444,145 to €382,608
of which Land and buildings: -€33,834
- Receivables within one year +€7,987
up €7,987 (+15,374%), from €52 to €8,039
of which Trade receivables: +€7,987
Equity and liabilities
- Debts after one year -€135,752
down €135,752 (-24.0%), from €566,716 to €430,964
- Profit (loss) carried forward -€30,877
down €30,877 (-10.2%), from -€302,980 to -€333,857
- Current portion of long-term debt -€10,942
down €10,942 (-53.5%), from €20,438 to €9,496
Income statement
- Gross operating margin -€90,631
down €90,631 (-66.6%), from €136,144 to €45,512
- Depreciation -€26,013
down €26,013 (-29.0%), from €89,566 to €63,553
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.
Result 2024
€33,983
Gross operating margin
-€90,631
Depreciation
+€26,013
Other operating charges
-€45
Financial income
-€810
Financial charges
+€314
Taxes
+€298
Result 2025
-€30,877
raises the resultlowers the result
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.
From operations
+€24,580
Investment
-€2,016
Financing
-€146,694
Cash 2024
€208,565
From operations (derived)
+€24,580
Net result for the year
-€30,877
Depreciation
+€63,553
Receivables within one year
-€7,987
Deferred charges and accrued income
+€456
Trade debts
-€208
Tax, wage and social debts
-€1,357
Other debts
+€1,000
Investment (derived)
-€2,016
Investment in fixed assets (net)
-€2,016
Financing
-€146,694
Debts after one year
-€135,752
Current portion of long-term debt
-€10,942
Cash 2025
€84,436
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €655,771 | €477,636 | -€178,135 | -27.2% |
| Fixed assets | 21/28 | €444,145 | €382,608 | -€61,537 | -13.9% |
| Tangible fixed assets | 22/27 | €444,145 | €382,608 | -€61,537 | -13.9% |
| Land and buildings | 22 | €256,917 | €223,083 | -€33,834 | -13.2% |
| Plant, machinery and equipment | 23 | €8,333 | €5,692 | -€2,641 | -31.7% |
| Furniture and vehicles | 24 | €54,593 | €45,108 | -€9,484 | -17.4% |
| Leasing and similar rights | 25 | €124,302 | €108,724 | -€15,578 | -12.5% |
| Current assets | 29/58 | €211,626 | €95,028 | -€116,598 | -55.1% |
| Amounts receivable within one year | 40/41 | €52 | €8,039 | +€7,987 | +15,374% |
| Trade receivables | 40 | €52 | €8,039 | +€7,987 | +15,374% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €208,565 | €84,436 | -€124,129 | -59.5% |
| Deferred charges and accrued income | 490/1 | €3,010 | €2,554 | -€456 | -15.1% |
| Total equity and liabilities | 10/49 | €655,771 | €477,636 | -€178,135 | -27.2% |
| Equity | 10/15 | -€152,651 | -€183,529 | -€30,877 | -20.2% |
| Contributions | 10/11 | €104,470 | €104,470 | = | 0.0% |
| Reserves | 13 | €45,859 | €45,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,963 | €4,963 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,963 | €4,963 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,896 | €40,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€302,980 | -€333,857 | -€30,877 | -10.2% |
| Amounts payable | 17/49 | €808,423 | €661,165 | -€147,258 | -18.2% |
| Amounts payable after more than one year | 17 | €566,716 | €430,964 | -€135,752 | -24.0% |
| Financial debts | 170/4 | €566,716 | €430,964 | -€135,752 | -24.0% |
| Amounts payable within one year | 42/48 | €241,707 | €230,200 | -€11,506 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €20,438 | €9,496 | -€10,942 | -53.5% |
| Trade debts | 44 | €1,470 | €1,263 | -€208 | -14.1% |
| Suppliers | 440/4 | €1,470 | €1,263 | -€208 | -14.1% |
| Taxes, remuneration and social security | 45 | €10,165 | €8,808 | -€1,357 | -13.3% |
| Taxes | 450/3 | €10,165 | €8,808 | -€1,357 | -13.3% |
| Other amounts payable | 47/48 | €209,633 | €210,633 | +€1,000 | +0.5% |
| Non-recurring operating income | 76A | €826 | €0 | -€826 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,566 | €63,553 | -€26,013 | -29.0% |
| Other operating charges | 640/8 | €4,603 | €4,648 | +€45 | +1.0% |
| Gross operating margin | 9900 | €136,144 | €45,512 | -€90,631 | -66.6% |
| Operating profit (loss) | 9901 | €41,975 | -€22,688 | -€64,663 | |
| Financial income | 75/76B | €1,044 | €234 | -€810 | -77.6% |
| Recurring financial income | 75 | €1,044 | €234 | -€810 | -77.6% |
| Financial charges | 65/66B | €7,856 | €7,542 | -€314 | -4.0% |
| Recurring financial charges | 65 | €7,856 | €7,542 | -€314 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €35,162 | -€29,996 | -€65,159 | |
| Income taxes | 67/77 | €1,179 | €881 | -€298 | -25.3% |
| Profit (loss) for the period | 9904 | €33,983 | -€30,877 | -€64,861 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,983 | -€30,877 | -€64,861 |
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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 4 November 2026 via checked.be.