A.S.GIARDINI: 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.
A.S.GIARDINI
Largest movements
- Tangible fixed assets +€269,186
new in 2025: €269,186
of which Land and buildings: +€186,349
- Receivables within one year +€35,406
up €35,406 (+1,922%), from €1,842 to €37,248
of which Trade receivables: +€34,433
- Cash -€9,896
down €9,896 (-69.9%), from €14,152 to €4,256
mainly Investment in fixed assets (net) (-€280,670) and Trade debts (-€71,474)
- Intangible fixed assets -€7,500
down €7,500 (-10.5%), from €71,301 to €63,801
- Debts after one year +€208,934
new in 2025: €208,934
- Other debts +€79,069
up €79,069 (+3,866%), from €2,045 to €81,114
- Trade debts -€71,474
down €71,474 (-91.5%), from €78,113 to €6,639
- Current portion of long-term debt +€32,396
new in 2025: €32,396
- Reserves +€31,868
new in 2025: €31,868
- Gross operating margin +€59,118
up €59,118 (+814%), from €7,265 to €66,383
- Depreciation +€15,285
up €15,285 (+413%), from €3,699 to €18,984
- Taxes +€9,849
up €9,849 (+1,423%), from €692 to €10,541
- Financial charges +€6,581
up €6,581 (+56,153%), from €12 to €6,593
- Other operating charges +€685
up €685 (+177%), from €387 to €1,072
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 | €87,295 | €374,492 | +€287,196 | +329% |
| Fixed assets | 21/28 | €71,301 | €332,988 | +€261,686 | +367% |
| Intangible fixed assets | 21 | €71,301 | €63,801 | -€7,500 | -10.5% |
| Tangible fixed assets | 22/27 | - | €269,186 | +€269,186 | |
| Land and buildings | 22 | - | €186,349 | +€186,349 | |
| Plant, machinery and equipment | 23 | - | €3,088 | +€3,088 | |
| Furniture and vehicles | 24 | - | €79,749 | +€79,749 | |
| Current assets | 29/58 | €15,994 | €41,504 | +€25,510 | +159% |
| Amounts receivable within one year | 40/41 | €1,842 | €37,248 | +€35,406 | +1,922% |
| Trade receivables | 40 | €1,592 | €36,024 | +€34,433 | +2,163% |
| Other amounts receivable | 41 | €250 | €1,224 | +€974 | +390% |
| Cash at bank and in hand | 54/58 | €14,152 | €4,256 | -€9,896 | -69.9% |
| Total equity and liabilities | 10/49 | €87,295 | €374,492 | +€287,196 | +329% |
| Equity | 10/15 | €5,475 | €34,868 | +€29,392 | +537% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €31,868 | +€31,868 | |
| Distributable reserves | 133 | - | €31,868 | +€31,868 | |
| Profit (loss) carried forward | 14 | €2,475 | €0 | -€2,475 | -100% |
| Amounts payable | 17/49 | €81,820 | €339,624 | +€257,804 | +315% |
| Amounts payable after more than one year | 17 | - | €208,934 | +€208,934 | |
| Financial debts | 170/4 | - | €208,934 | +€208,934 | |
| Amounts payable within one year | 42/48 | €81,820 | €130,690 | +€48,870 | +59.7% |
| Current portion of amounts payable after more than one year | 42 | - | €32,396 | +€32,396 | |
| Trade debts | 44 | €78,113 | €6,639 | -€71,474 | -91.5% |
| Suppliers | 440/4 | €78,113 | €6,639 | -€71,474 | -91.5% |
| Taxes, remuneration and social security | 45 | €1,662 | €10,541 | +€8,880 | +534% |
| Taxes | 450/3 | €1,662 | €10,541 | +€8,880 | +534% |
| Other amounts payable | 47/48 | €2,045 | €81,114 | +€79,069 | +3,866% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,699 | €18,984 | +€15,285 | +413% |
| Other operating charges | 640/8 | €387 | €1,072 | +€685 | +177% |
| Gross operating margin | 9900 | €7,265 | €66,383 | +€59,118 | +814% |
| Operating profit (loss) | 9901 | €3,179 | €46,327 | +€43,148 | +1,357% |
| Financial income | 75/76B | - | €199 | +€199 | |
| Recurring financial income | 75 | - | €199 | +€199 | |
| Financial charges | 65/66B | €12 | €6,593 | +€6,581 | +56,153% |
| Recurring financial charges | 65 | €12 | €6,593 | +€6,581 | +56,153% |
| Profit (loss) for the period before taxes | 9903 | €3,167 | €39,934 | +€36,766 | +1,161% |
| Income taxes | 67/77 | €692 | €10,541 | +€9,849 | +1,423% |
| Profit (loss) for the period | 9904 | €2,475 | €29,392 | +€26,917 | +1,087% |
| Profit (loss) for the period to be appropriated | 9905 | €2,475 | €29,392 | +€26,917 | +1,087% |
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 22 October 2026 via checked.be.