VERWERFT GEERT: 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.
VERWERFT GEERT
Largest movements
- Cash +€19,952
up €19,952 (+122%), from €16,369 to €36,320
mainly Receivables within one year (+€19,924) and Depreciation (+€19,434)
- Receivables within one year -€19,924
down €19,924 (-76.2%), from €26,161 to €6,237
of which Trade receivables: -€16,402
- Tangible fixed assets -€19,434
down €19,434 (-57.9%), from €33,571 to €14,137
of which Furniture and vehicles: -€18,421
- Stocks and contracts -€15,150
down €15,150 (-44.1%), from €34,332 to €19,182
of which Contracts in progress: -€15,150
- Trade debts -€19,782
down €19,782 (-45.4%), from €43,573 to €23,791
- Other debts -€7,986
down €7,986 (-19.6%), from €40,714 to €32,728
- Current portion of long-term debt -€5,270
down €5,270 (-74.8%), from €7,049 to €1,780
- Debts after one year -€1,780
no longer reported in 2025 (was €1,780)
- Gross operating margin -€2,917
down €2,917 (-11.0%), from €26,465 to €23,548
- Other operating charges +€2,051
up €2,051 (+149%), from €1,377 to €3,429
- Depreciation -€1,689
down €1,689 (-8.0%), from €21,123 to €19,434
- Financial charges -€522
down €522 (-71.6%), from €729 to €207
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 | €114,128 | €79,534 | -€34,594 | -30.3% |
| Fixed assets | 21/28 | €33,571 | €14,137 | -€19,434 | -57.9% |
| Tangible fixed assets | 22/27 | €33,571 | €14,137 | -€19,434 | -57.9% |
| Land and buildings | 22 | €1,839 | €1,379 | -€460 | -25.0% |
| Plant, machinery and equipment | 23 | €1,086 | €533 | -€553 | -50.9% |
| Furniture and vehicles | 24 | €30,646 | €12,225 | -€18,421 | -60.1% |
| Current assets | 29/58 | €80,557 | €65,397 | -€15,161 | -18.8% |
| Stocks and contracts in progress | 3 | €34,332 | €19,182 | -€15,150 | -44.1% |
| Stocks | 30/36 | €332 | €332 | = | 0.0% |
| Contracts in progress | 37 | €34,000 | €18,850 | -€15,150 | -44.6% |
| Amounts receivable within one year | 40/41 | €26,161 | €6,237 | -€19,924 | -76.2% |
| Trade receivables | 40 | €16,504 | €102 | -€16,402 | -99.4% |
| Other amounts receivable | 41 | €9,657 | €6,134 | -€3,522 | -36.5% |
| Cash at bank and in hand | 54/58 | €16,369 | €36,320 | +€19,952 | +122% |
| Deferred charges and accrued income | 490/1 | €3,696 | €3,658 | -€38 | -1.0% |
| Total equity and liabilities | 10/49 | €114,128 | €79,534 | -€34,594 | -30.3% |
| Equity | 10/15 | €18,462 | €18,685 | +€224 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,998 | -€1,775 | +€224 | +11.2% |
| Amounts payable | 17/49 | €95,667 | €60,849 | -€34,818 | -36.4% |
| Amounts payable after more than one year | 17 | €1,780 | - | -€1,780 | |
| Financial debts | 170/4 | €1,780 | - | -€1,780 | |
| Amounts payable within one year | 42/48 | €93,887 | €60,849 | -€33,038 | -35.2% |
| Current portion of amounts payable after more than one year | 42 | €7,049 | €1,780 | -€5,270 | -74.8% |
| Trade debts | 44 | €43,573 | €23,791 | -€19,782 | -45.4% |
| Suppliers | 440/4 | €43,573 | €23,791 | -€19,782 | -45.4% |
| Taxes, remuneration and social security | 45 | €2,550 | €2,550 | = | 0.0% |
| Taxes | 450/3 | €2,550 | €2,550 | = | 0.0% |
| Other amounts payable | 47/48 | €40,714 | €32,728 | -€7,986 | -19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,123 | €19,434 | -€1,689 | -8.0% |
| Other operating charges | 640/8 | €1,377 | €3,429 | +€2,051 | +149% |
| Gross operating margin | 9900 | €26,465 | €23,548 | -€2,917 | -11.0% |
| Operating profit (loss) | 9901 | €3,965 | €686 | -€3,279 | -82.7% |
| Financial income | 75/76B | €4 | €54 | +€50 | +1,240% |
| Recurring financial income | 75 | €4 | €54 | +€50 | +1,240% |
| Financial charges | 65/66B | €729 | €207 | -€522 | -71.6% |
| Recurring financial charges | 65 | €729 | €207 | -€522 | -71.6% |
| Profit (loss) for the period before taxes | 9903 | €3,240 | €533 | -€2,707 | -83.5% |
| Income taxes | 67/77 | €324 | €310 | -€14 | -4.2% |
| Profit (loss) for the period | 9904 | €2,917 | €224 | -€2,693 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,917 | €224 | -€2,693 | -92.3% |
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 23 October 2026 via checked.be.