GHIJSELINCK: what changed
GHIJSELINCK
Largest movements
- Receivables within one year +€85,079
up €85,079 (+59.5%), from €142,907 to €227,986
of which Trade receivables: +€74,668
- Tangible fixed assets -€43,089
down €43,089 (-9.1%), from €474,896 to €431,807
- Cash +€26,108
up €26,108 (+52.4%), from €49,844 to €75,953
mainly Net result for the year (+€50,997) and Depreciation (+€45,419)
- Reserves +€50,997
up €50,997 (+26.9%), from €189,894 to €240,890
- Debts after one year -€26,394
down €26,394 (-7.2%), from €365,056 to €338,661
- Trade debts +€24,703
up €24,703 (+140%), from €17,660 to €42,363
- Tax, wage and social debts +€16,802
up €16,802 (+222%), from €7,556 to €24,358
of which Taxes: +€16,802
- Gross operating margin +€59,669
up €59,669 (+52.0%), from €114,832 to €174,500
- Taxes +€14,558
up €14,558 (+212%), from €6,868 to €21,426
- Staff costs +€14,309
up €14,309 (+41.9%), from €34,117 to €48,427
- Financial income +€2,895
up €2,895 (+88.6%), from €3,266 to €6,161
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €672,469 | €739,832 | +€67,364 | +10.0% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €474,896 | €431,807 | -€43,089 | -9.1% |
| Tangible fixed assets | 22/27 | €474,896 | €431,807 | -€43,089 | -9.1% |
| Land and buildings | 22 | €393,244 | €375,506 | -€17,738 | -4.5% |
| Plant, machinery and equipment | 23 | €26,444 | €15,263 | -€11,181 | -42.3% |
| Furniture and vehicles | 24 | €55,208 | €41,037 | -€14,170 | -25.7% |
| Current assets | 29/58 | €197,572 | €308,025 | +€110,453 | +55.9% |
| Amounts receivable within one year | 40/41 | €142,907 | €227,986 | +€85,079 | +59.5% |
| Trade receivables | 40 | €29,202 | €103,870 | +€74,668 | +256% |
| Other amounts receivable | 41 | €113,704 | €124,116 | +€10,412 | +9.2% |
| Cash at bank and in hand | 54/58 | €49,844 | €75,953 | +€26,108 | +52.4% |
| Deferred charges and accrued income | 490/1 | €4,822 | €4,087 | -€735 | -15.2% |
| Total equity and liabilities | 10/49 | €672,469 | €739,832 | +€67,364 | +10.0% |
| Equity | 10/15 | €254,894 | €305,890 | +€50,997 | +20.0% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €189,894 | €240,890 | +€50,997 | +26.9% |
| Distributable reserves | 133 | €189,894 | €240,890 | +€50,997 | +26.9% |
| Amounts payable | 17/49 | €417,575 | €433,942 | +€16,367 | +3.9% |
| Amounts payable after more than one year | 17 | €365,056 | €338,661 | -€26,394 | -7.2% |
| Financial debts | 170/4 | €365,056 | €338,661 | -€26,394 | -7.2% |
| Amounts payable within one year | 42/48 | €52,519 | €93,116 | +€40,596 | +77.3% |
| Current portion of amounts payable after more than one year | 42 | €27,303 | €26,394 | -€908 | -3.3% |
| Trade debts | 44 | €17,660 | €42,363 | +€24,703 | +140% |
| Suppliers | 440/4 | €17,660 | €42,363 | +€24,703 | +140% |
| Taxes, remuneration and social security | 45 | €7,556 | €24,358 | +€16,802 | +222% |
| Taxes | 450/3 | €7,556 | €24,358 | +€16,802 | +222% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | - | €2,165 | +€2,165 | |
| Remuneration, social security and pensions | 62 | €34,117 | €48,427 | +€14,309 | +41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,718 | €45,419 | +€701 | +1.6% |
| Other operating charges | 640/8 | €6,006 | €5,207 | -€798 | -13.3% |
| Gross operating margin | 9900 | €114,832 | €174,500 | +€59,669 | +52.0% |
| Operating profit (loss) | 9901 | €29,991 | €75,448 | +€45,457 | +152% |
| Financial income | 75/76B | €3,266 | €6,161 | +€2,895 | +88.6% |
| Recurring financial income | 75 | €3,266 | €6,161 | +€2,895 | +88.6% |
| Financial charges | 65/66B | €10,633 | €9,186 | -€1,447 | -13.6% |
| Recurring financial charges | 65 | €10,633 | €9,186 | -€1,447 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €22,624 | €72,423 | +€49,799 | +220% |
| Income taxes | 67/77 | €6,868 | €21,426 | +€14,558 | +212% |
| Profit (loss) for the period | 9904 | €15,756 | €50,997 | +€35,241 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €15,756 | €50,997 | +€35,241 | +224% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.