Denis GILSON: 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.
Denis GILSON
Largest movements
- Intangible fixed assets -€7,143
down €7,143 (-14.9%), from €47,931 to €40,788
- Tangible fixed assets +€2,774
new in 2025: €2,774
- Deferred charges and accrued income -€1,321
down €1,321 (-19.2%), from €6,894 to €5,573
- Tax, wage and social debts -€8,439
down €8,439 (-69.1%), from €12,213 to €3,774
- Other debts +€3,979
up €3,979 (+12.4%), from €32,202 to €36,181
- Trade debts -€2,987
down €2,987 (-38.2%), from €7,817 to €4,830
- Accrued charges and deferred income +€1,236
up €1,236 (+1,542%), from €80 to €1,317
- Profit (loss) carried forward -€777
new in 2025: -€777
- Gross operating margin -€13,124
down €13,124 (-51.9%), from €25,286 to €12,162
- Depreciation +€5,500
up €5,500 (+266%), from €2,069 to €7,569
- Taxes -€5,366
down €5,366 (-86.4%), from €6,213 to €847
- Financial charges +€2,948
up €2,948 (+313%), from €942 to €3,890
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 | €70,909 | €63,922 | -€6,987 | -9.9% |
| Fixed assets | 21/28 | €47,931 | €43,562 | -€4,369 | -9.1% |
| Intangible fixed assets | 21 | €47,931 | €40,788 | -€7,143 | -14.9% |
| Tangible fixed assets | 22/27 | - | €2,774 | +€2,774 | |
| Other tangible fixed assets | 26 | - | €2,774 | +€2,774 | |
| Current assets | 29/58 | €22,978 | €20,359 | -€2,618 | -11.4% |
| Amounts receivable within one year | 40/41 | €4,608 | €3,974 | -€634 | -13.8% |
| Trade receivables | 40 | €2,326 | €1,660 | -€666 | -28.6% |
| Other amounts receivable | 41 | €2,281 | €2,313 | +€32 | +1.4% |
| Cash at bank and in hand | 54/58 | €11,477 | €10,813 | -€664 | -5.8% |
| Deferred charges and accrued income | 490/1 | €6,894 | €5,573 | -€1,321 | -19.2% |
| Total equity and liabilities | 10/49 | €70,909 | €63,922 | -€6,987 | -9.9% |
| Equity | 10/15 | €18,597 | €17,820 | -€777 | -4.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,597 | €15,597 | = | 0.0% |
| Distributable reserves | 133 | €15,597 | €15,597 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€777 | -€777 | |
| Amounts payable | 17/49 | €52,312 | €46,102 | -€6,211 | -11.9% |
| Amounts payable within one year | 42/48 | €52,232 | €44,785 | -€7,447 | -14.3% |
| Trade debts | 44 | €7,817 | €4,830 | -€2,987 | -38.2% |
| Suppliers | 440/4 | €7,817 | €4,830 | -€2,987 | -38.2% |
| Taxes, remuneration and social security | 45 | €12,213 | €3,774 | -€8,439 | -69.1% |
| Taxes | 450/3 | €12,213 | €3,774 | -€8,439 | -69.1% |
| Other amounts payable | 47/48 | €32,202 | €36,181 | +€3,979 | +12.4% |
| Accrued charges and deferred income | 492/3 | €80 | €1,317 | +€1,236 | +1,542% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,069 | €7,569 | +€5,500 | +266% |
| Other operating charges | 640/8 | €466 | €633 | +€167 | +35.8% |
| Gross operating margin | 9900 | €25,286 | €12,162 | -€13,124 | -51.9% |
| Operating profit (loss) | 9901 | €22,752 | €3,960 | -€18,791 | -82.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €942 | €3,890 | +€2,948 | +313% |
| Recurring financial charges | 65 | €942 | €3,890 | +€2,948 | +313% |
| Profit (loss) for the period before taxes | 9903 | €21,810 | €71 | -€21,739 | -99.7% |
| Income taxes | 67/77 | €6,213 | €847 | -€5,366 | -86.4% |
| Profit (loss) for the period | 9904 | €15,597 | -€777 | -€16,374 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,597 | -€777 | -€16,374 |
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 17 October 2026 via checked.be.