GHIGNY MANAGEMENT: 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.
GHIGNY MANAGEMENT
Largest movements
- Receivables within one year +€33,503
up €33,503 (+56.0%), from €59,868 to €93,371
of which Other amounts receivable: +€36,702
- Profit (loss) carried forward +€35,292
up €35,292 (+60.6%), from €58,247 to €93,540
- Debts after one year -€20,000
down €20,000 (-24.1%), from €82,880 to €62,880
of which Other amounts payable: -€20,000
- Tax, wage and social debts +€15,806
up €15,806 (+86.4%), from €18,304 to €34,110
of which Taxes: +€15,806
- Accrued charges and deferred income +€3,545
up €3,545 (+623.2%), from €569 to €4,114
- Gross operating margin -€14,087
down €14,087 (-23.4%), from €60,170 to €46,083
- Staff costs -€10,768
down €10,768 (-100.0%), from €10,768 to €0
- Financial income +€3,501
up €3,501, from €0 to €3,501
- Financial charges -€3,305
down €3,305 (-58.0%), from €5,694 to €2,389
- Taxes +€963
up €963 (+8.8%), from €10,940 to €11,902
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.
Cash bridge derived
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 | €161,026 | €196,250 | +€35,225 | +21.9% |
| Fixed assets | 21/28 | €100,000 | €100,000 | = | 0.0% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €61,026 | €96,250 | +€35,225 | +57.7% |
| Amounts receivable within one year | 40/41 | €59,868 | €93,371 | +€33,503 | +56.0% |
| Trade receivables | 40 | €9,075 | €5,876 | -€3,199 | -35.2% |
| Other amounts receivable | 41 | €50,793 | €87,494 | +€36,702 | +72.3% |
| Cash at bank and in hand | 54/58 | €1,158 | €2,759 | +€1,600 | +138.2% |
| Deferred charges and accrued income | 490/1 | - | €121 | +€121 | |
| Total equity and liabilities | 10/49 | €161,026 | €196,250 | +€35,225 | +21.9% |
| Equity | 10/15 | €59,247 | €94,540 | +€35,292 | +59.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,247 | €93,540 | +€35,292 | +60.6% |
| Amounts payable | 17/49 | €101,778 | €101,711 | -€68 | -0.1% |
| Amounts payable after more than one year | 17 | €82,880 | €62,880 | -€20,000 | -24.1% |
| Financial debts | 170/4 | €62,880 | €62,880 | = | 0.0% |
| Other amounts payable | 178/9 | €20,000 | €0 | -€20,000 | -100.0% |
| Amounts payable within one year | 42/48 | €18,329 | €34,716 | +€16,387 | +89.4% |
| Trade debts | 44 | €25 | €607 | +€581 | +2287.5% |
| Suppliers | 440/4 | €25 | €607 | +€581 | +2287.5% |
| Taxes, remuneration and social security | 45 | €18,304 | €34,110 | +€15,806 | +86.4% |
| Taxes | 450/3 | €18,304 | €34,110 | +€15,806 | +86.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €569 | €4,114 | +€3,545 | +623.2% |
| Remuneration, social security and pensions | 62 | €10,768 | €0 | -€10,768 | -100.0% |
| Other operating charges | 640/8 | €0 | - | = | |
| Non-recurring operating charges | 66A | €4 | €0 | -€4 | -100.0% |
| Gross operating margin | 9900 | €60,170 | €46,083 | -€14,087 | -23.4% |
| Operating profit (loss) | 9901 | €49,398 | €46,083 | -€3,315 | -6.7% |
| Financial income | 75/76B | €0 | €3,501 | +€3,501 | |
| Recurring financial income | 75 | €0 | €3,501 | +€3,501 | |
| Financial charges | 65/66B | €5,694 | €2,389 | -€3,305 | -58.0% |
| Recurring financial charges | 65 | €5,694 | €2,389 | -€3,305 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €43,704 | €47,195 | +€3,490 | +8.0% |
| Income taxes | 67/77 | €10,940 | €11,902 | +€963 | +8.8% |
| Profit (loss) for the period | 9904 | €32,765 | €35,292 | +€2,528 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,765 | €35,292 | +€2,528 | +7.7% |
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 9 October 2026 via checked.be.