G.I.C. Project: 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.
G.I.C. Project
Largest movements
- Tangible fixed assets +€132,714
up €132,714 (+631%), from €21,043 to €153,757
of which Land and buildings: +€115,976
- Receivables within one year +€26,584
up €26,584 (+1,070%), from €2,485 to €29,069
of which Trade receivables: +€19,228
- Cash +€26,345
up €26,345 (+90.8%), from €29,018 to €55,363
mainly Net result for the year (+€132,128) and Tax, wage and social debts (+€35,394)
- Deferred charges and accrued income +€8,370
up €8,370 (+1,892%), from €442 to €8,812
- Financial fixed assets +€5,735
new in 2025: €5,735
- Profit (loss) carried forward +€132,128
new in 2025: €132,128
- Tax, wage and social debts +€35,394
up €35,394 (+243%), from €14,552 to €49,946
of which Taxes: +€39,394
- Trade debts +€24,937
up €24,937 (+5,251%), from €475 to €25,412
- Other debts +€6,886
up €6,886 (+698%), from €986 to €7,872
- Gross operating margin +€145,950
up €145,950 (+371%), from €39,375 to €185,325
- Taxes +€31,012
up €31,012 (+402%), from €7,722 to €38,734
- Depreciation +€9,851
up €9,851 (+3,375%), from €292 to €10,143
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 | €52,988 | €252,737 | +€199,748 | +377% |
| Fixed assets | 21/28 | €21,043 | €159,492 | +€138,449 | +658% |
| Tangible fixed assets | 22/27 | €21,043 | €153,757 | +€132,714 | +631% |
| Land and buildings | 22 | - | €115,976 | +€115,976 | |
| Plant, machinery and equipment | 23 | €17,017 | €18,066 | +€1,049 | +6.2% |
| Furniture and vehicles | 24 | €4,026 | €19,715 | +€15,689 | +390% |
| Financial fixed assets | 28 | - | €5,735 | +€5,735 | |
| Current assets | 29/58 | €31,946 | €93,245 | +€61,299 | +192% |
| Amounts receivable within one year | 40/41 | €2,485 | €29,069 | +€26,584 | +1,070% |
| Trade receivables | 40 | - | €19,228 | +€19,228 | |
| Other amounts receivable | 41 | €2,485 | €9,841 | +€7,356 | +296% |
| Cash at bank and in hand | 54/58 | €29,018 | €55,363 | +€26,345 | +90.8% |
| Deferred charges and accrued income | 490/1 | €442 | €8,812 | +€8,370 | +1,892% |
| Total equity and liabilities | 10/49 | €52,988 | €252,737 | +€199,748 | +377% |
| Equity | 10/15 | €36,884 | €169,012 | +€132,128 | +358% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €30,884 | €30,884 | = | 0.0% |
| Distributable reserves | 133 | €30,884 | €30,884 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €132,128 | +€132,128 | |
| Amounts payable | 17/49 | €16,105 | €83,725 | +€67,620 | +420% |
| Amounts payable within one year | 42/48 | €16,013 | €83,230 | +€67,217 | +420% |
| Trade debts | 44 | €475 | €25,412 | +€24,937 | +5,251% |
| Suppliers | 440/4 | €475 | €25,412 | +€24,937 | +5,251% |
| Taxes, remuneration and social security | 45 | €14,552 | €49,946 | +€35,394 | +243% |
| Taxes | 450/3 | €8,052 | €47,446 | +€39,394 | +489% |
| Remuneration and social security | 454/9 | €6,500 | €2,500 | -€4,000 | -61.5% |
| Other amounts payable | 47/48 | €986 | €7,872 | +€6,886 | +698% |
| Accrued charges and deferred income | 492/3 | €92 | €494 | +€403 | +440% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292 | €10,143 | +€9,851 | +3,375% |
| Other operating charges | 640/8 | €457 | €1,623 | +€1,166 | +255% |
| Non-recurring operating charges | 66A | - | €2,541 | +€2,541 | |
| Gross operating margin | 9900 | €39,375 | €185,325 | +€145,950 | +371% |
| Operating profit (loss) | 9901 | €38,626 | €171,018 | +€132,392 | +343% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €20 | €170 | +€150 | +748% |
| Recurring financial charges | 65 | €20 | €170 | +€150 | +748% |
| Profit (loss) for the period before taxes | 9903 | €38,606 | €170,862 | +€132,257 | +343% |
| Income taxes | 67/77 | €7,722 | €38,734 | +€31,012 | +402% |
| Profit (loss) for the period | 9904 | €30,884 | €132,128 | +€101,244 | +328% |
| Profit (loss) for the period to be appropriated | 9905 | €30,884 | €132,128 | +€101,244 | +328% |
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 20 October 2026 via checked.be.