Vincent Geli Projects: 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.
Vincent Geli Projects
Largest movements
- Receivables within one year +€23,822
up €23,822 (+326%), from €7,309 to €31,132
of which Trade receivables: +€21,220
- Cash -€21,866
down €21,866 (-64.6%), from €33,852 to €11,986
mainly Receivables within one year (-€23,822) and Tax, wage and social debts (-€4,493)
- Deferred charges and accrued income -€5,332
down €5,332 (-69.9%), from €7,626 to €2,294
- Tangible fixed assets -€1,936
down €1,936 (-10.6%), from €18,262 to €16,326
- Stocks and contracts +€750
new in 2025: €750
- Profit (loss) carried forward +€8,151
up €8,151 (+88.0%), from €9,257 to €17,408
- Tax, wage and social debts -€4,493
down €4,493 (-75.0%), from €5,994 to €1,501
of which Taxes: -€4,333
- Other debts -€4,155
down €4,155 (-90.5%), from €4,591 to €436
- Debts after one year -€2,673
down €2,673 (-23.4%), from €11,443 to €8,770
- Trade debts -€1,506
down €1,506 (-10.3%), from €14,651 to €13,144
- Gross operating margin -€10,769
down €10,769 (-33.9%), from €31,749 to €20,981
- Other operating charges -€2,502
down €2,502 (-51.5%), from €4,860 to €2,358
- Taxes -€1,702
down €1,702 (-29.2%), from €5,834 to €4,132
- Staff costs -€390
no longer reported in 2025 (was €390)
- Financial charges -€334
down €334 (-8.0%), from €4,192 to €3,857
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 | €67,048 | €62,488 | -€4,561 | -6.8% |
| Fixed assets | 21/28 | €18,262 | €16,326 | -€1,936 | -10.6% |
| Tangible fixed assets | 22/27 | €18,262 | €16,326 | -€1,936 | -10.6% |
| Land and buildings | 22 | €13,984 | €13,656 | -€328 | -2.3% |
| Plant, machinery and equipment | 23 | €744 | €81 | -€664 | -89.2% |
| Furniture and vehicles | 24 | €3,533 | €2,590 | -€944 | -26.7% |
| Current assets | 29/58 | €48,786 | €46,162 | -€2,625 | -5.4% |
| Stocks and contracts in progress | 3 | - | €750 | +€750 | |
| Stocks | 30/36 | - | €750 | +€750 | |
| Amounts receivable within one year | 40/41 | €7,309 | €31,132 | +€23,822 | +326% |
| Trade receivables | 40 | €6,909 | €28,129 | +€21,220 | +307% |
| Other amounts receivable | 41 | €401 | €3,003 | +€2,602 | +650% |
| Cash at bank and in hand | 54/58 | €33,852 | €11,986 | -€21,866 | -64.6% |
| Deferred charges and accrued income | 490/1 | €7,626 | €2,294 | -€5,332 | -69.9% |
| Total equity and liabilities | 10/49 | €67,048 | €62,488 | -€4,561 | -6.8% |
| Equity | 10/15 | €27,812 | €35,963 | +€8,151 | +29.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,555 | €13,555 | = | 0.0% |
| Distributable reserves | 133 | €13,555 | €13,555 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,257 | €17,408 | +€8,151 | +88.0% |
| Amounts payable | 17/49 | €39,236 | €26,525 | -€12,711 | -32.4% |
| Amounts payable after more than one year | 17 | €11,443 | €8,770 | -€2,673 | -23.4% |
| Financial debts | 170/4 | €11,443 | €8,770 | -€2,673 | -23.4% |
| Amounts payable within one year | 42/48 | €27,793 | €17,755 | -€10,038 | -36.1% |
| Current portion of amounts payable after more than one year | 42 | €2,557 | €2,673 | +€116 | +4.5% |
| Trade debts | 44 | €14,651 | €13,144 | -€1,506 | -10.3% |
| Suppliers | 440/4 | €14,651 | €13,144 | -€1,506 | -10.3% |
| Taxes, remuneration and social security | 45 | €5,994 | €1,501 | -€4,493 | -75.0% |
| Taxes | 450/3 | €5,834 | €1,501 | -€4,333 | -74.3% |
| Remuneration and social security | 454/9 | €160 | €0 | -€160 | -100% |
| Other amounts payable | 47/48 | €4,591 | €436 | -€4,155 | -90.5% |
| Non-recurring operating income | 76A | €0 | €718 | +€718 | |
| Remuneration, social security and pensions | 62 | €390 | - | -€390 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,151 | €1,936 | -€215 | -10.0% |
| Other operating charges | 640/8 | €4,860 | €2,358 | -€2,502 | -51.5% |
| Non-recurring operating charges | 66A | €667 | €0 | -€667 | -100% |
| Gross operating margin | 9900 | €31,749 | €20,981 | -€10,769 | -33.9% |
| Operating profit (loss) | 9901 | €23,682 | €16,687 | -€6,996 | -29.5% |
| Financial income | 75/76B | €412 | €312 | -€100 | -24.2% |
| Recurring financial income | 75 | €412 | €312 | -€100 | -24.2% |
| Financial charges | 65/66B | €4,192 | €3,857 | -€334 | -8.0% |
| Recurring financial charges | 65 | €4,192 | €3,857 | -€334 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €19,903 | €13,142 | -€6,761 | -34.0% |
| Income taxes | 67/77 | €5,834 | €4,132 | -€1,702 | -29.2% |
| Profit (loss) for the period | 9904 | €14,068 | €9,010 | -€5,059 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,068 | €9,010 | -€5,059 | -36.0% |
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 15 October 2026 via checked.be.