Carine Gilson . Com: 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.
Carine Gilson . Com
Largest movements
- Cash -€40,954
down €40,954 (-62.3%), from €65,724 to €24,770
mainly Trade debts (-€129,674) and Current portion of long-term debt (-€23,861)
- Receivables within one year +€11,237
up €11,237 (+41.9%), from €26,803 to €38,040
of which Other amounts receivable: +€22,883
- Stocks and contracts +€3,773
up €3,773 (+150%), from €2,517 to €6,290
- Tangible fixed assets +€2,419
up €2,419 (+230%), from €1,052 to €3,471
of which Furniture and vehicles: +€2,733
- Intangible fixed assets -€2,030
down €2,030 (-26.6%), from €7,641 to €5,611
- Trade debts -€129,674
down €129,674 (-89.1%), from €145,499 to €15,825
- Profit (loss) carried forward +€104,613
up €104,613 (+37.5%), from -€279,236 to -€174,624
- Current portion of long-term debt -€23,861
down €23,861 (-84.4%), from €28,283 to €4,421
- Debts after one year -€10,707
no longer reported in 2025 (was €10,707)
- Accrued charges and deferred income +€9,800
up €9,800 (+10.8%), from €90,346 to €100,146
- Gross operating margin +€50,678
up €50,678 (+67.1%), from €75,563 to €126,241
- Staff costs -€5,156
down €5,156 (-79.4%), from €6,493 to €1,336
- Financial charges +€2,119
up €2,119 (+14.2%), from €14,942 to €17,061
- Depreciation -€2,089
down €2,089 (-42.7%), from €4,888 to €2,799
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 | €122,739 | €97,184 | -€25,555 | -20.8% |
| Fixed assets | 21/28 | €27,695 | €28,084 | +€389 | +1.4% |
| Intangible fixed assets | 21 | €7,641 | €5,611 | -€2,030 | -26.6% |
| Tangible fixed assets | 22/27 | €1,052 | €3,471 | +€2,419 | +230% |
| Furniture and vehicles | 24 | €347 | €3,081 | +€2,733 | +787% |
| Other tangible fixed assets | 26 | €704 | €391 | -€314 | -44.6% |
| Financial fixed assets | 28 | €19,002 | €19,002 | = | 0.0% |
| Current assets | 29/58 | €95,044 | €69,100 | -€25,944 | -27.3% |
| Stocks and contracts in progress | 3 | €2,517 | €6,290 | +€3,773 | +150% |
| Stocks | 30/36 | €2,517 | €6,290 | +€3,773 | +150% |
| Amounts receivable within one year | 40/41 | €26,803 | €38,040 | +€11,237 | +41.9% |
| Trade receivables | 40 | €11,646 | - | -€11,646 | |
| Other amounts receivable | 41 | €15,157 | €38,040 | +€22,883 | +151% |
| Cash at bank and in hand | 54/58 | €65,724 | €24,770 | -€40,954 | -62.3% |
| Total equity and liabilities | 10/49 | €122,739 | €97,184 | -€25,555 | -20.8% |
| Equity | 10/15 | -€179,236 | -€74,624 | +€104,613 | +58.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€279,236 | -€174,624 | +€104,613 | +37.5% |
| Amounts payable | 17/49 | €301,975 | €171,808 | -€130,168 | -43.1% |
| Amounts payable after more than one year | 17 | €10,707 | - | -€10,707 | |
| Financial debts | 170/4 | €10,707 | - | -€10,707 | |
| Amounts payable within one year | 42/48 | €200,922 | €71,662 | -€129,261 | -64.3% |
| Current portion of amounts payable after more than one year | 42 | €28,283 | €4,421 | -€23,861 | -84.4% |
| Financial debts | 43 | - | €2,102 | +€2,102 | |
| Credit institutions | 430/8 | - | €2,102 | +€2,102 | |
| Trade debts | 44 | €145,499 | €15,825 | -€129,674 | -89.1% |
| Suppliers | 440/4 | €145,499 | €15,825 | -€129,674 | -89.1% |
| Advances received on contracts in progress | 46 | - | €9,769 | +€9,769 | |
| Taxes, remuneration and social security | 45 | €11,842 | €18,345 | +€6,503 | +54.9% |
| Taxes | 450/3 | €11,842 | €18,345 | +€6,503 | +54.9% |
| Other amounts payable | 47/48 | €15,299 | €21,201 | +€5,902 | +38.6% |
| Accrued charges and deferred income | 492/3 | €90,346 | €100,146 | +€9,800 | +10.8% |
| Remuneration, social security and pensions | 62 | €6,493 | €1,336 | -€5,156 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,888 | €2,799 | -€2,089 | -42.7% |
| Other operating charges | 640/8 | €433 | €431 | -€2 | -0.4% |
| Gross operating margin | 9900 | €75,563 | €126,241 | +€50,678 | +67.1% |
| Operating profit (loss) | 9901 | €63,749 | €121,674 | +€57,925 | +90.9% |
| Financial income | 75/76B | €249 | €0 | -€249 | -100.0% |
| Recurring financial income | 75 | €249 | €0 | -€249 | -100.0% |
| Financial charges | 65/66B | €14,942 | €17,061 | +€2,119 | +14.2% |
| Recurring financial charges | 65 | €14,942 | €17,061 | +€2,119 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €49,056 | €104,613 | +€55,557 | +113% |
| Profit (loss) for the period | 9904 | €49,056 | €104,613 | +€55,557 | +113% |
| Profit (loss) for the period to be appropriated | 9905 | €49,056 | €104,613 | +€55,557 | +113% |
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.