Cycles Gilkinet: 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.
Cycles Gilkinet
Largest movements
- Stocks and contracts -€61,188
down €61,188 (-13.1%), from €467,512 to €406,324
of which Stocks: -€61,188
- Receivables within one year +€43,184
up €43,184 (+86.8%), from €49,728 to €92,912
of which Trade receivables: +€43,110
- Cash -€28,492
down €28,492 (-86.5%), from €32,932 to €4,439
mainly Other debts (-€104,366) and Receivables within one year (-€43,184)
- Tangible fixed assets +€7,996
up €7,996 (+13.2%), from €60,776 to €68,772
of which Leasing and similar rights: +€29,359
- Other debts -€104,366
down €104,366 (-41.2%), from €253,108 to €148,743
- Profit (loss) carried forward +€32,444
up €32,444 (+42.6%), from €76,119 to €108,563
- Tax, wage and social debts -€23,419
down €23,419 (-22.9%), from €102,109 to €78,690
of which Taxes: -€21,648
- Debts after one year +€22,781
up €22,781 (+2,278%), from €1,000 to €23,781
- Trade debts +€19,071
up €19,071 (+11.3%), from €169,308 to €188,379
- Staff costs +€30,340
up €30,340 (+28.7%), from €105,540 to €135,880
- Gross operating margin -€19,299
down €19,299 (-8.6%), from €223,507 to €204,208
- Taxes -€13,541
down €13,541 (-52.4%), from €25,860 to €12,319
- Depreciation +€7,129
up €7,129 (+44.4%), from €16,038 to €23,167
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 | €612,340 | €573,459 | -€38,880 | -6.3% |
| Fixed assets | 21/28 | €61,272 | €69,269 | +€7,996 | +13.1% |
| Tangible fixed assets | 22/27 | €60,776 | €68,772 | +€7,996 | +13.2% |
| Plant, machinery and equipment | 23 | €20,645 | €13,534 | -€7,111 | -34.4% |
| Furniture and vehicles | 24 | €5,007 | €2,579 | -€2,428 | -48.5% |
| Leasing and similar rights | 25 | - | €29,359 | +€29,359 | |
| Other tangible fixed assets | 26 | €35,124 | €23,299 | -€11,825 | -33.7% |
| Financial fixed assets | 28 | €497 | €497 | = | 0.0% |
| Current assets | 29/58 | €551,067 | €504,190 | -€46,877 | -8.5% |
| Stocks and contracts in progress | 3 | €467,512 | €406,324 | -€61,188 | -13.1% |
| Stocks | 30/36 | €467,512 | €406,324 | -€61,188 | -13.1% |
| Contracts in progress | 37 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €49,728 | €92,912 | +€43,184 | +86.8% |
| Trade receivables | 40 | €49,728 | €92,838 | +€43,110 | +86.7% |
| Other amounts receivable | 41 | €0 | €74 | +€74 | |
| Cash at bank and in hand | 54/58 | €32,932 | €4,439 | -€28,492 | -86.5% |
| Deferred charges and accrued income | 490/1 | €895 | €515 | -€380 | -42.5% |
| Total equity and liabilities | 10/49 | €612,340 | €573,459 | -€38,880 | -6.3% |
| Equity | 10/15 | €80,869 | €113,313 | +€32,444 | +40.1% |
| Contributions | 10/11 | €4,750 | €4,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,119 | €108,563 | +€32,444 | +42.6% |
| Amounts payable | 17/49 | €531,470 | €460,146 | -€71,324 | -13.4% |
| Amounts payable after more than one year | 17 | €1,000 | €23,781 | +€22,781 | +2,278% |
| Financial debts | 170/4 | €1,000 | €23,781 | +€22,781 | +2,278% |
| Amounts payable within one year | 42/48 | €530,470 | €436,365 | -€94,105 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €5,945 | €10,376 | +€4,430 | +74.5% |
| Trade debts | 44 | €169,308 | €188,379 | +€19,071 | +11.3% |
| Suppliers | 440/4 | €169,308 | €188,379 | +€19,071 | +11.3% |
| Advances received on contracts in progress | 46 | - | €10,178 | +€10,178 | |
| Taxes, remuneration and social security | 45 | €102,109 | €78,690 | -€23,419 | -22.9% |
| Taxes | 450/3 | €83,634 | €61,986 | -€21,648 | -25.9% |
| Remuneration and social security | 454/9 | €18,475 | €16,705 | -€1,770 | -9.6% |
| Other amounts payable | 47/48 | €253,108 | €148,743 | -€104,366 | -41.2% |
| Remuneration, social security and pensions | 62 | €105,540 | €135,880 | +€30,340 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,038 | €23,167 | +€7,129 | +44.4% |
| Other operating charges | 640/8 | €409 | €1,777 | +€1,368 | +335% |
| Non-recurring operating charges | 66A | - | €100 | +€100 | |
| Gross operating margin | 9900 | €223,507 | €204,208 | -€19,299 | -8.6% |
| Operating profit (loss) | 9901 | €101,521 | €43,285 | -€58,236 | -57.4% |
| Financial income | 75/76B | €1,200 | €2,703 | +€1,502 | +125% |
| Recurring financial income | 75 | €1,200 | €2,703 | +€1,502 | +125% |
| Financial charges | 65/66B | €742 | €1,225 | +€482 | +65.0% |
| Recurring financial charges | 65 | €742 | €1,225 | +€482 | +65.0% |
| Profit (loss) for the period before taxes | 9903 | €101,979 | €44,763 | -€57,216 | -56.1% |
| Income taxes | 67/77 | €25,860 | €12,319 | -€13,541 | -52.4% |
| Profit (loss) for the period | 9904 | €76,119 | €32,444 | -€43,676 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €76,119 | €32,444 | -€43,676 | -57.4% |
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 27 October 2026 via checked.be.