GHILLO CONSULT: what changed
Two fiscal 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.
GHILLO CONSULT
Largest movements
- Current investments +€240,190
new in 2025: €240,190
- Cash -€163,943
down €163,943 (-82.3%), from €199,166 to €35,223
mainly Current investments (-€240,190) and Contributions, distributions and other (-€170,000)
- Receivables within one year +€26,386
up €26,386 (+72.9%), from €36,213 to €62,600
of which Trade receivables: +€25,240
- Tangible fixed assets +€17,656
up €17,656 (+76.7%), from €23,015 to €40,671
of which Furniture and vehicles: +€12,751
- Deferred charges and accrued income +€4,773
up €4,773 (+364.7%), from €1,309 to €6,082
- Other debts +€171,321
up €171,321 (+7932.6%), from €2,160 to €173,481
- Reserves -€74,083
down €74,083 (-33.2%), from €222,857 to €148,774
- Tax, wage and social debts +€28,515
up €28,515 (+90.1%), from €31,638 to €60,153
of which Taxes: +€25,432
- Gross operating margin +€87,677
up €87,677 (+94.5%), from €92,790 to €180,467
- Staff costs +€45,224
new in 2025: €45,224
- Taxes +€8,713
up €8,713 (+43.1%), from €20,221 to €28,934
- Depreciation +€7,597
up €7,597 (+225.4%), from €3,370 to €10,967
- Financial income -€2,278
down €2,278 (-50.4%), from €4,521 to €2,243
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 | €259,703 | €384,765 | +€125,062 | +48.2% |
| Fixed assets | 21/28 | €23,015 | €40,671 | +€17,656 | +76.7% |
| Tangible fixed assets | 22/27 | €23,015 | €40,671 | +€17,656 | +76.7% |
| Plant, machinery and equipment | 23 | €2,157 | €6,396 | +€4,239 | +196.5% |
| Furniture and vehicles | 24 | €10,793 | €23,545 | +€12,751 | +118.1% |
| Other tangible fixed assets | 26 | €10,065 | €10,730 | +€666 | +6.6% |
| Current assets | 29/58 | €236,688 | €344,095 | +€107,406 | +45.4% |
| Amounts receivable within one year | 40/41 | €36,213 | €62,600 | +€26,386 | +72.9% |
| Trade receivables | 40 | €11,360 | €36,600 | +€25,240 | +222.2% |
| Other amounts receivable | 41 | €24,853 | €26,000 | +€1,147 | +4.6% |
| Current investments | 50/53 | - | €240,190 | +€240,190 | |
| Cash at bank and in hand | 54/58 | €199,166 | €35,223 | -€163,943 | -82.3% |
| Deferred charges and accrued income | 490/1 | €1,309 | €6,082 | +€4,773 | +364.7% |
| Total equity and liabilities | 10/49 | €259,703 | €384,765 | +€125,062 | +48.2% |
| Equity | 10/15 | €223,857 | €149,774 | -€74,083 | -33.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €222,857 | €148,774 | -€74,083 | -33.2% |
| Distributable reserves | 133 | €222,857 | €148,774 | -€74,083 | -33.2% |
| Amounts payable | 17/49 | €35,846 | €234,991 | +€199,145 | +555.6% |
| Amounts payable within one year | 42/48 | €35,846 | €234,991 | +€199,145 | +555.6% |
| Trade debts | 44 | €2,048 | €1,358 | -€691 | -33.7% |
| Suppliers | 440/4 | €2,048 | €1,358 | -€691 | -33.7% |
| Taxes, remuneration and social security | 45 | €31,638 | €60,153 | +€28,515 | +90.1% |
| Taxes | 450/3 | €26,182 | €51,614 | +€25,432 | +97.1% |
| Remuneration and social security | 454/9 | €5,456 | €8,539 | +€3,082 | +56.5% |
| Other amounts payable | 47/48 | €2,160 | €173,481 | +€171,321 | +7932.6% |
| Remuneration, social security and pensions | 62 | - | €45,224 | +€45,224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,370 | €10,967 | +€7,597 | +225.4% |
| Other operating charges | 640/8 | €723 | €1,325 | +€602 | +83.3% |
| Gross operating margin | 9900 | €92,790 | €180,467 | +€87,677 | +94.5% |
| Operating profit (loss) | 9901 | €88,697 | €122,952 | +€34,254 | +38.6% |
| Financial income | 75/76B | €4,521 | €2,243 | -€2,278 | -50.4% |
| Recurring financial income | 75 | €4,521 | €2,243 | -€2,278 | -50.4% |
| Financial charges | 65/66B | €68 | €343 | +€276 | +406.7% |
| Recurring financial charges | 65 | €68 | €343 | +€276 | +406.7% |
| Profit (loss) for the period before taxes | 9903 | €93,151 | €124,852 | +€31,700 | +34.0% |
| Income taxes | 67/77 | €20,221 | €28,934 | +€8,713 | +43.1% |
| Profit (loss) for the period | 9904 | €72,930 | €95,917 | +€22,987 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €72,930 | €95,917 | +€22,987 | +31.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.